BPO industry: Sri Lanka has edge over neighbours

by Surekha Galagoda

Waquis Inc, the latest entrant to the Business Process Off shoring (BPO) industry in Sri Lanka will start work on four new projects early next year.

Established in March as a BOI approved company at present their clients are leading banks based in USA, said Managing Director, Mahinda Athulathmudali.

He said that they process loan applications and mortgages for their clients based in USA. Due to the time difference we are able to process a document within half an hour, which is a great advantage we have. At present Waquis employs 40 persons and at the time of starting the company too I had a staff of 15 and a building to start the operation.

The investment of the project is Rs. 40 mln. He said as soon as we secure the new projects we are planning to expand our project to the outstations may be to Kandy or Matara with the headquarters in Colombo.

Speaking of recruitment he said that they recruit graduates as well as GCE Advanced level qualified youth who are very good in English.

He said one of the problems they face at the interview is the poor knowledge of English of the youth therefore as a solution they have now started an English class free of charge for the youth employed at the company. He said the literacy rate of our youth; the time difference, quick turnaround time as well as the active workforce are all advantages for Sri Lanka to pursue the BPO industry. This is the competitive edge we have over other south East Asian countries.

However this is a very competitive industry therefore the government should understand the potential of the industry and give all the support for the industry to grow.

He said that all companies are exploring opportunities to cut costs and increase profits. There are many ways the government can support the industry such as by reducing the cost of leased lines as well as the early return of VAT.

Athulathmudali said that the BPO industry does not create profits within Sri Lanka but these companies employ talented youth who are paid well. In addition unlike in the past they don't go in search of greener pastures but work close to their homes.

This is the benefit to the country. The other benefits to the country are that the companies pay higher rents and provide transport to employees. The expatriates pay house rents, hire vehicles and other facilities available in Sri Lanka.

Speaking of the problems he encountered in Sri Lanka Athulathmudali said that several times he was frustrated as he was asked for documents after he went to the relevant office.

He said even his conference phone is still at the Department of Customs for the want of documents. Therefore as a solution he suggests that a debit card type of card be introduced with all the relevant documents inserted and that to be read by an electronic reader. This will help eliminate a lot of problems.

He said that as BPO is a 24 by seven operation even if there is a problem an overseas client will not wait therefore as a solution we have started a backup site in India and this has given more confidence to the investors about our operation.

Athulathmudali said that the western world especially the investor's think that Sri Lanka is full of bombs. Former President of USA Ronald Regan named the world as an economic village today we can call it a terrorist village.

All over the world there are troubles from time to time. There are bombs going off in countries such as the UK and USA. Therefore why are we only publicising the bombs going off in Sri Lanka without cutting off the money supply lines to the terrorists? The conflict is based on a small percentage of people who are power grabbers.

America should help the developing nations not discouraging them but by putting the money where the mouth is. Athulathmudali completed his senior school certificate examination in Sri Lanka and migrated to Canada with his family in 1967.

He completed his graduate and postgraduate studies in Canada. A former employee of the Federal Government of Canada he said the main aim of starting this venture was to contribute to the economic prosperity of Mother Lanka.

[email protected]