e-TecK to develop call centres through Nearshore Americas

InvesTT, a subsidiary of Evolving Technologies and Enterprise Development Company Ltd (e-TecK), is seeking new and creative ways to encourage more foreign investments into T&T. InvesTT, according to its Web site, is the first line investment agency for T&T. Its mandate is to grow T&T’s non-oil and gas sectors significantly and sustainably and deliver customised investor solutions through its unique combination of knowledgeable sector experts, strategic alliances and extensive network of real estate and technology parks.

In an interview with the Business Guardian last week, Sekou Alleyne, InvesTT’s manager of investor sourcing, said the company would be using the concept business process outsourcing (BPO), as a strategic approach to promote and market T&T’s key services.

 

He said the agency has chosen five areas to encourage investment in T&T:

1. information communication technology (ICT)

2. light manufacturing

3. creative industries

4. logistics

5. merchant marine

The main area of focus, Alleyne said, was the ICT sector. InvesTT would be sourcing foreign investment in the ICT area in the BPO space. “That means engaging BPO operators through the company Nearshore Americas to locate operations in T&T, employing citizens as staff.

 

Untapped market

 

Alleyne explained that InvesTT is currently doing its research to determine how many BPOs would be required in T&T. The research is geared towards finding out how many locals would be interested in this area and how lucrative the initiative would be to encourage and establish these BPO call centres and operations in T&T. Using the survey method, targeted specifically at ICT sector, Alleyne said they would be able to determine locals’ willingness to work in the sector, salary expectations, their level of skill and technical ability. This information, he said, is based on how many persons respond to the survey. The research and analysis should be completed by month end. Alleyne said this was an untapped market in T&T and locals should take the opportunity to grow the ICT call centre service. He stated that the Telecommunication Services of T&T was outsourcing some of its call centres to Central America and Honduras. Late last year TSTT decided to turn its focus on the domestic market by putting out a request for proposals to offer those contracts to local suppliers.

Alleyne said said there are no international players currently operating any BPO ICT call centres in T&T.

 

Benefits of BPO

 

Countries like India has been using business process outsourcing (BPO) for the last 15 years to encourage investments. The Business Guardian sat down with Kirk Laughlin, founder and editorial director of Nearshore Americas last week Wednesday at the Hilton Trinidad, St Ann’s, along with Alleyne and Kelvin Mahabir, president of e-TecK and InvesTT, to highlight and understand the benefits of BPO. Alleyne indicated that T&T would be using Nearshore Americas as the medium to facilitate the entire initiative. Laughlin explained that his company acts as a consultant providing key information about the intended country of interest to potential international investors. Nearshore Americas, which operates as an online newspaper/editorial, was established in 2009. 

 

The initial concept of the company, Laughlin said, was to educate American businessmen, executives and corporate decision-makers about the opportunities in investing in Latin America and the Caribbean. “It’s a guide to assist them in locating centres for business outsourcing (call centres) either through a third party, who may have operations in that country or establish their own operation in that country.” He explained the concept BPO was there before, but there wasn’t any Web site or brand where he could locate information or be educated on the country to which he wanted to invest. For example, what is the cost of hiring locals in that country, who are the leaders in the market, population figures, gross domestic product, etc? “ I realise that there was a good opportunity to create that facility for Nearshore Americas.”

 

Business on the move

 

“The timing is right for T&T,” Laughlin said. “BPO in Latin America and the Caribbean is growing to about 18 to 20 per cent a year, so there is very strong growth.”  He noted several investors are looking to Latin America and the Caribbean. Laughlin came on a five-day visit to T&T to gather information on the country and its investment potential.  He met with several key business owners, ministers and other stakeholders seeking relevant information about T&T that would guide investors.

He pointed out that the reason why the interest is moving towards Latin America and the Caribbean are:

• India fatigue as many executives are growing tired of travelling all the way to India, so if they have a better option closer to home, they would embrace the opportunity.

 

• The image of Latin America and the Caribbean is improving: stable democracies, economies are strong and an educated workforce

 

• There is a growing reliance on the Internet to do business. There are more and more opportunities in the ICT outsourcing industry.

 

• The call centres are now growing into total information technology package inclusive of software development, trade BPO and financing/accounting outsourcing.

 

Laughlin said his company is well poised to facilitate T&T in the process of searching for right ICT investors.

He sated that the outsourcing industry is “pretty new” and many people are struggling to understand how they do business. “In the last three years, our brand has emerged as the number resource for this community and the community includes everyone from investing responsibilities or an executive that wants to expand through to trade or an investment agency, such as InvesTT, looking for investors.

 

e-TecK lures India

 

Meanwhile, e-TecK’s Kelvin Mahabir spoke about the several projects and initiatives e-TecK would be embarking on in 2012. Most of these initiatives evolved from business meetings held during the two-week India trade mission. He outlined India’s interest in the following areas:

 

• ICT

An InvesTT team met with seven companies covering research and development, data centres,

fiber to home networks, where two memoranda of understanding were signed.

 

• Light manufacturing

InvesTT met with six companies in rare metals processing, advanced plastics manufacturing and medical device manufacturing: one MoU was signed. He said two reciprocal visits are expected in the coming weeks.

 

• Logistics/merchant marine

InvesTT met with six leading companies in shipyards and drydocks, port facilities and marine infrastructure and shipbuilding

 

• Clean technology

InvesTT met with seven companies in renewable energy: recycling

Photovoltaic manufacturing, waste management—two MoUs were signed. He said two reciprocal visits are expected in the coming weeks.

Mahabir said Indian ICT companies are looking to expand their operations, which would be a great benefit to T&T.

 

Benefits include:

Increased investment, revenues and exchange earnings, increased employment, increased R&D and the development of talent pool.

“About two per cent of the industry revenue is spent on training employees in the IT-BPO sector, while 40 per cent of the total spend on training is spent on training new employees. As a result, a number of firms has forged alliances with leading education institutions to train their employees,” Mahabir said.