Globe’s new unit ABSI hopes to earn P500M annually

ASTI Business Services, Inc. (ABSI), the first subsidiary of Globe Telecom, Inc.’s Asticom Technology, Inc., a shared services company, is hoping to break into the multi-billion peso shared services market, as it aims to earn at least P500 million annually, the Ayala-led telecommunications firm said.

“We are looking at an P11.25-billion market for the local IT-business service outsourcing (BSO) market in the Philippines alone. The market is currently dominated by international enterprises with in-house centers,” Globe said in an e-mailed statement.

The new business process solutions company is also hoping to penetrate bigger markets outside the Philippines, it added.

ABSI has at least 1,000 workers. The company expects to generate an income of “at least P500 million annually,” Globe noted.

“To do this, Asticom has set its sights on both the domestic and international markets,” it also said.

The telco announced the official launch of ABSI on Jan. 13. It said the company aims to provide enterprise services to telecommunications, financial technology, information technology, retail, health, logistics, automotive, banking, education, real estate, and aviation companies.

It will also focus on process optimization for front and back-end office functions in addition to IT-enabled services, such as web and mobile application development.

Meanwhile, Asticom, according to its website, offers payroll, staffing, and managed services. Its clients include AF Payments, Inc. Ayala Foundation, Eastern Communications., GCash, Globe, and Samsung. — Arjay L. Balinbin