Pereira’s Perils on the Way to Call Center ‘Promised Land’
January 23rd, 2012By Patrick Haller
Positioned in Colombia’s lush Coffee Triangle region, the city of Pereira has been called “Paradise.” However, it has probably not seemed that way to some of the local population. In 2009 the city was hit by the highest unemployment in the nation at 24%, despite being home to a Suzuki motorbike plant, Busscor (the main manufacturer of vehicles for Colombian mass transit systems), textile plants and, of course, coffee production. As a possible remedy to that situation, the government of Pereira – like that of its smaller sister-city Manizales – has created a stream of incentives to attract IT companies and call centers.
Foreign Direct Investment Surges in Colombia
January 17th, 2012Source: Bloomberg
Colombia’s peso rose to an almost four-month high after foreign-direct investment in the South American country surged and global demand for higher-yielding assets rebounded.
The peso climbed 0.5 percent to 1,837.40 per U.S. dollar from 1,846 yesterday. It touched 1,832.31 on Jan. 13, its strongest intraday level since Sept. 19. The peso has jumped 5.5 percent so far this year, the best performance among world currencies tracked by Bloomberg.
Foreign-direct investment jumped 56 percent to $14.8 billion in 2011 from a year earlier, with 82 percent going into oil and mining, according to preliminary trade balance data from the central bank released on Jan. 13. Gains in global stocks also helped boost the peso, said Julian Marquez, an analyst at Interbolsa SA, Colombia’s biggest brokerage. U.S. and European stocks rose as slowing Chinese growth added to speculation that monetary policy at the world’s second-largest economy will ease.
“Investment flows continue …
MIF to Help Consolidate Venture Capital Financing in Colombia
January 5th, 2012Source: Inter-American Development Bank
$1.5 million project to improve SME access to equity financing
The Multilateral Investment Fund (MIF), in partnership with Banco de Comercio Exterior de Colombia, S.A. (Bancóldex), will help strengthen the venture capital industry in Colombia to pave the way for increased access to finance for small and medium enterprises (SMEs) in the country.
The $1.5 million project will provide training to local fund managers and institutional investors as well as facilitate interaction and networking between SMEs and venture and private equity funds to improve access to equity financing and create a suitable public policy framework for investment to flourish in Colombia.
“We expect that business initiatives in Colombia will not wither on the vine, but rather blossom into viable companies through the timely influx of funding,’’ said Susana García-Robles, the MIF team leader. “In order to further the industry, the project includes two innovative components: the …
Silicon Valley Execs Offer Up Guidance to Colombian Entrepreneurs
January 3rd, 2012By Patrick Haller
At the beginning of December, a group of 34 Colombian software designers, mobile app developers and gaming designers participated in an exploratory tour to Silicon Valley – meeting with executives at Google, Facebook, Pixar, Apple and Cisco.
The trip – which was organized by Proexport Colombia – featured several key takeaways, including alternative business management and process approaches, leading-edge ways to market and sell software and the need for Colombians to worry less about certifications and focus more on serving core business needs.
Colombian Economy Losing Some Dynamism
December 30th, 2011Source: MarketWatch
The Colombian economy could be slowing down despite posting strong gains in recent months while the risk of a “disorderly adjustment” in Europe remains a threat to Colombia’s economic performance, the central bank said in the minutes from its last monetary policy meeting.
The central bank, which chose to leave unaltered its key interest rate at 4.75% during its Dec. 16 meeting, warned that although the Colombian economy remains “dynamic” there are signs that “momentum could be slowing down.”
Data released after the bank’s meeting showed that the Colombian economy expanded 7.7% in the third quarter, soundly beating the central bank’s projections which called for an increase of at least 6%.
Inflation, meanwhile, remains at the upper half of the central bank’s 2% to 4% target range, although inflation expectations have declined slightly according to recent data cited by the central bank.
Devastating rains in recent months have had an impact …
Landing a Call Center on an Exotic Island: What’s it Really Like?
December 23rd, 2011By Patrick Haller
San Andres, Colombia is a top vacation spot for Colombians and foreigners from around the world. Long-known for its relaxed vibe, coral reefs, snorkeling and similarities to Jamaica (including a vibrant Rasta culture and worshipful love of Bob Marley), it is perhaps one of the last places one would think of to open a contact center. Yet, that is exactly what Barranquilla, Colombia-based Transcom did a year ago.
So, what happens when the high-demands of a 21st century call center are put on the shoulders of a culture that is more familiar with sandals and sunshine than service-levels and client “sat”?
Colombia Sees Lower Than Expected Inflation
December 6th, 2011Source: Reuters
Government posts 0.14 pct inflation in November
* Consumer prices up 3.96 pct in 12 months to November
* Prices increase 3.29 pct in Jan – Nov period
Colombia’s consumer prices rose 0.14 percent in November, the government said on Monday, well below the 0.20 percent increase forecast in a Reuters poll.
The Andean country reported inflation at 0.19 percent in October, the same as in November last year.
Inflation in the 12 months to November was 3.96 percent, the government’s DANE statistics agency said, slightly below the central bank’s annual inflation target for 2011.
The monetary authority has set an inflation target of 2 percent to 4 percent for this year.
The rise in consumer prices last month was driven mainly by the communications, transport and health sectors, the DANE said.
Colombia’s central bank raised its benchmark interest rate by 25 basis points to 4.75 percent last month in an attempt to put a …
Colombian Economy Expected to See Positive Growth in 2012
November 21st, 2011Source: Reuters
Colombian Finance Minister Juan Carlos Echeverry said on Thursday he expected economic growth of between 5 percent and 5.5 percent in the fourth quarter versus 6.7 percent in the third quarter.
Resource-rich emerging market countries like Colombia have seen their economies expand briskly in recent years, although deteriorating U.S. conditions and financial troubles in Europe are weighing on expectations for their future growth.
“It’s very solid growth. The idea is to stay stable at these levels,” Echeverry told a conference in the Colombian coastal city of Cartagena.
Echeverry said that full-year 2011 economic growth should be around 5.5 percent versus a previous projection by the ministry of at least 5 percent, while the worst-case scenario for 2012 would be a growth of 4.5 percent.
“Next year, we see it between 4.5 and 6 percent, it’s impossible to say right now if it’ll be better. I don’t know what’s going to come …
Colombian Students Vow to Strangle Bogota
November 9th, 2011Source: Colombia Reports
Students protesting higher education reform have announced plans to set up a permanent camp on Bogota’s central Plaza Bolivar, Caracol Radio reported Wednesday.
The camp will be set up in Plaza de Bolivar following a day of nationwide protest against the government’s proposed “Law 30″. At least 30,000 people are predicted to march in Bogota, where trade unions and other social organisations have pledged to join students on the streets – with some promising to help them “bring the city to a halt”.
More than buses full of activists will arrive in the capital tomorrow to join the encampment. They include members of the Confederation of Workers and workers from Pacific Rubiales, Colombia’s largest private oil company. Workshops and discussion groups are planned.
Sergio Tiempo, a spokesman for the Alternative National Education Board, which is leading the protest movement, told El Tiempo newspaper that if the government did …
Convergys Officially Welcomed to Bogota (See Our Photos)
October 21st, 2011NSAM Staff Report
Colombian President Juan Manuel Santos was joined by Dr. Diego Molano, Minister of Information Technologies and Communications, Convergys Senior Vice President of Operations Christine Timmins Barry and other dignitaries to officially welcome Convergys to the Colombian capital, Bogota, at a special dedication conference yesterday.
The Bogota center began operating in January 2011 and employs 850 bilingual agents who service incoming calls for an international telecommunications client by phone, web-chat, SMS and email. Convergys plans to increase the number of staff to 1,000 by the end of the year, and eventually reach 5,000 positions, and expand the offering to include customer service, technical support, help desk, back office, and IVR support to a diverse portfolio of Convergys clients and their customers.
“The opening of this facility in Bogota demonstrates Convergys’ commitment to Colombia and to our employees here for the outstanding work they perform every day,” said Timmins Barry. …
