ASG Technologies, a global provider of technology solutions, will hire more workers and open branches in the country to expand its footprint, optimistic on the Philippine market’s growth prospects over the next two years.
In an interview with the Philippine News Agency, ASG General Manager for Asia Pacific Praveen Kumar expects overall revenues in the Philippines growing 30 percent to 35 percent this year, and increase to over 50 percent in 2017.
Kumar said revenues from most other countries, except India, will probably grow only 20 percent to 25 percent.
“The Philippine market is growing at a phenomenal pace today for us. I think the stability in the government, plus the investments that most companies are trying to put in, considering that they want to expand, is phenomenal,” he noted.
Kumar explained that there is a huge demand from India, as it purchases software products for consumption of other countries, like Europe and the United States. In the Philippines, meanwhile, softwares are purchased and consumed.
“Here, we are seeing a lot of consumption-based demand, which is very, very interesting. So, it would probably be one of our fastest-growing countries next year,” he added.
Kumar, likewise, credited the growth of the Philippine market to the availability of quality human resources.
“The ability for international companies to upload a lot of work to the Philippines, considering the availability of skill and talent at a young age, is very immense. That’s helping us. It’s helping the companies to invest in technology, which will enable [them to] deliver the quality that most international customers are looking for,” he said.
To meet increased demand for software products, Kumar bared the company will open more branches in the Philippines, with its first official branch office to be established in Manila next year. It currently operates as a representative office in the country.
He said its present four business partners will also increase to eight in 2017, which will train and educate over 300 people in ASG Technologies.
“…The amount of investments we are doing in the Philippines will only continue to grow, considering the volume of our business is picking up,” Kumar added.
ASG Technologies is a $200-million US-based company that operates in 70 to 75 countries. These include Japan, Hong Kong, Taiwan, China, Thailand, Malaysia, Singapore, the Philippines, India, Australia and New Zealand.
In the Philippines the firm provides a wide variety of software products to more than 100 clients.
“We provide a variety of software, ranging from infrastructure solutions to business solutions, which cater to the business users of banks and manufacturing companies, as well as infrastructure, which caters more to the IT [information-technology] part of the customer,” Kumar said.
He said the banking sector comprises 60 percent of its clients; manufacturing and retail, 15 percent; telecommunications sector, 15 percent; and business-process outsourcing and other sectors, 10 percent.
ASG Technologies provides to the Philippine market various software solutions, including workspace virtualization, data intelligence and content warehouse.
Kumar said data intelligence assists banks to reduce or prevent fraud, and is also ideal to a lot of compliance requirements that the central bank may apply.
“It will also help banks and financial institutions to do audits a lot better [and] also helps companies that have a lot of international presence, whether they are financial or nonfinancial, to cater to various financial regulations that they have to follow when they file in their respective countries,” he said.
Kumar further said the content warehouse, meanwhile, is a solution area where companies can store all the documents and other activities, including audio and video, into a single repository. PNA
“Today, they (companies) have different places where they store content and they are not able to apply a single rule-based mechanism,” he added. PNA