The BPO Industry in Bogota A Seasoned Sector in the Region For more than 15 years, companies in Bogota have developed extensive expertise in tax, finance and accounting (F&A), document management, HRO and other non-voice BPO segments. During the period 2006-2011 revenues for selected BPO segments* grew at a 20.36% compounded rate. Revenues for Selected BPO Segments in Bogota (2006-2011)** 3,000 2,577 2,500
2,162
US$ (Millons)
2,000
1,766
1,606 1,500
2,776
1,272
1,000 500 0
2006
2007
2008
2009
2010
2011
* Figures for the following selected BPO segments: data processing, data management, finance & accounting, tax, human resources and research and development. ** Estimated growth for 2011. Source: Invest in Bogota.
Abundant and Highly Qualified Talent • The services sector represents nearly 80% of Bogota’s GDP, resulting in a large talent with pool relevant domain expertise. • An average of 110.000 students enrolled per year in business and related fields • 608,000 people in the workforce with experience in finance and corporate services in 2009. People with Experience in Finance and Corporate Services (2006-2009*) 700
People (Thousands)
600 500 400 449
300 200
310
518
379
100 0
82
84
87
89
2006
2007
2008
2009
Corporate services
Financial services
*Expected growth for 2009. Source: National Statistics Bureau (DANE).
Competitive Costs Bogota offers competitive salaries for BPO agents and one of the most flexible labor legislations in Latin America.
Multinationals with Presence in Bogota
Monthly salary US$ (Thousands)
Average Monthly Salary for F&A Agents, 2009 (Fully Loaded) 3.00
2.67
2.50
From Bogota, this company centralizes every process related to human resources for Latin America.
2.00
2.00
1.83
1.76
1.67
1.42
1.50 1.00 0.50 0.00 Sao Paulo
San Jose
Monterrey Gualadajara Bogota
From Bogota, this outsourcer provides document management, account receivable and back office services for offshore clients.
Santiago
Source:Everest Research Institute 2009.
Average Salaries for Selected BPO (F&A, HR and Legal) Positions 2009 Position
Average Salary US$ / Month
Entry-level Finance position
1,198
Financial Analyst
1,208
Financial Director
3,708
Entry-level HR position
1,420
Payroll Analyst
1,180
Recruitment Expert
2,652
Junior Lawyer
1,540
Tax Analyst
1,264
In Bogota this company has a backoffice operation.
From Bogota, this company centralizes every sales and client support processes for corporate banking for Latin America.
From Bogota, this company provides document management, data processing and transactions with state of the art technologies.
Exchange rate: COP $2000 for US$1. Source: Human Capital - Salary Survey - 2009-2010.
Average Rental Costs for Class “A” Buildings in Major Latin American Cities (2010) Lima San Jose Santiago Mexico City Bogota Buenos Aires Sao Paulo
From Bogota, this company offers legal, financial and accounting outsourcing services. 0
9
18
27
36
45
Monthly Lease (US$ / M2) Source: Colliers International, Global Office Real State Review, Year end 2010.
54
63
From Bogota, this company provides financial and accounting services for the Andean region.
Invest in Bogota is the investment promotion agency for Bogota and its region • The Agency provides a broad range of investor services, free of charge with complete confidentiality.
Contact us: Carrera 7 No. 71-21, Torre B, Suite 901 Bogota, Colombia PBX: +57 (1) 742-3030 E-mail: info@investinbogota.org www.investinbogota.org twitter.com/investinbogota facebook.com/investinbogota