Business process outsourcing (BPO) firm TDCX, formerly known as Teledirect and now a listed company on the New York Stock Exchange (NYSE), informed the local media of its decision to further expand its footprint in the Philippines following the formal opening of its sixth hub located in Iloilo.
Back in August, TDCX reported a 23% increase in total revenue to $116.6 million driven by positive sales from its omnichannel Customer Experience (CX) solutions and digital marketing and sales services. The company attributed the rise of its omnichannel CX solution profits to the expansion of its existing client campaigns in the fintech and technology verticals.
In a statement, TDCX CEO and founder Laurent Junique expects the company’s business development efforts to bear fruit in the coming years, as evident with the addition of 25 new logos to the company’s client base in 2022 alone – two of which comes from the Southeast Asian region.
“Southeast Asia’s fundamentals remain attractive to companies seeking long term growth. Given our established network, local market expertise and robust talent pool, we continue to attract and to support clients in realizing their growth ambitions in this region,” he added.
Some of the company’s latest logo wins include a global short-form video social media platform, Southeast Asian e-commerce platform, a regional airline company, and a large-scale integrated car e-commerce firm.
“Our focus on complex services in this new economy in terms of organizations is a very important piece on our strategy as we grow here in the Philippines and beyond. It’s a much larger value chain and network that we’re engaged with and it’s a very good time for us to be engaged with that,” said TDCX vice president for global client services Stefan Fontanilla.
Beyond being a provider of a complete customer experience lifecycle, TDCX prioritizes partner relationships over the usual provider and customer service agreements. With 93% of the company’s clients hailing from the new economy sector, Fontanilla reported that over the last two years, TDCX has seen a 27% growth in revenue and a 20% profitability hike.
“Our domain expertise and technology that we implement here in TDCX allows us to hire right, allows us to coach and develop, and make sure that our people are taken care of. The culture that we have is shared with the culture of our clients. This is something that we look at when we sit down with potential clients,” he shared.
The Iloilo campus of TDCX adds to the company’s capacity serving Global English end-markets, like North America, United Kingdom, Ireland, Australia and New Zealand. Around the world, TDCX has established 26 campuses with 17,000 strong employees.
Data analytics and consulting firm SkyQuest recently published a report that says 39% of global businesses are already outsourcing some or all of their business processes. In this market, there are mainly three types of players: technology providers, management service providers, and labor providers.
TDCX Philippines VP for business strategy Eliza Acuña said that the Philippines is an “important node” in the company’s overall network, and is renowned industry-wide as a highly skilled workforce with a hospitable culture.
She also remarked that as more and more consumers depend on online technology with various aspects of their daily life, customer experience plays an increasingly important role in building and fortifying brand preference and loyalty.
“With our positive work environment, attractive client roster and interesting and fulfilling work, we look forward to growing with our people and equipping them with future-ready skills that will help them stay competitive in the new economy,” Acuña said.
Before the Iloilo expansion, the first TDCX Manila office was unveiled in 2014 while its first Cebu office was formally opened in 2019. Since its Cebu expansion, TDCX has seen its staff strength double in size. By 2030, TDCX expects the Iloilo branch to be its innovation hub.
