IT/BPM sector expects to hit 5-15% growth

CEBU, Philippines —  Players in the Philippine IT/BPM ( Information Technology/Business Process Management) sector are preparing to meet the changing needs of the market, anticipating to hit at five to 15 percent growth in 2021.

With 87 percent of IT-BPM companies expecting to see between 5-15 percent growth by the end of this year, the industry is cautiously optimistic that it will attain 1.43 million FTEs (full time employees) and revenues amounting to $28.8 billion in 2021, said Benedict H. Hernandez,IT and Business Process Association of the Philippines (IBPAP) Chairman, during the press briefing held Wednesday to launch the 13th International Innovation Summit (IIS 2021) happening next month in November 16, 17, 18, 23, and 24, 2021.

According to Hernandez, with a lot of changes that have taken place and more to happen moving forward the industry is keeping its toes in order not to miss the opportunity for growth.

“We must keep in mind that for this [growth target] to become a reality, the sector needs to redesign the future through our key strategic imperatives on digitalization, talent, policy shaping, country marketing, and infrastructure,” he continued.

Industry players are going to delve into how the sector is designing new points of contact in a world driven by change and connected from multiple global locations. Themed, “New Points of Contact: Advancing in a Boundaryless World,” the Summit will set the stage for driving a digital Philippines and fueling economic progress.

“At this year’s Summit, we are taking the industry to where our new points of contact—Platforms, People, Pillars, Policies, and Places—will see its greatest reset,” said Nora K. Terrado, IBPAP Vice Chair.

“We will elevate the discourse on the transformation realities that the IT-BPM ecosystem is faced with and bring out insights that will be critical to the sector’s strategy for adapting to the digital age, driving innovation, and contributing to economic growth,” she added.

“With knowledge sharing at its core, IIS 2021 is going to serve as a platform for us to advance as a digital Philippines and reinforce our position as a top investment destination for IT-BPM services. All that while staying true to our roots of bringing global leaders together to discuss urgent issues so that we can all determine the sector’s new points of contact in this boundary less world,” concluded Celeste B. Ilagan, IBPAP Board Trustee.

The IBPAP is organizing this year’s Summit together with its six partner associations—Animation Council of the Philippines, Inc. (ACPI), Contact Center Association of the Philippines (CCAP), Game Developers Association of the Philippines (GDAP), Global In-House Center Council (GICC) Philippines, Healthcare Information Management Association of the Philippines (HIMAP), and Philippine Software Industry Association (PSIA).

Through decades of change and periods of ambiguity, the industry has consistently proven its resilience and that it has a fundamental role in the economy—generating thousands of new jobs per year and becoming a major source of foreign exchange.

This was further reinforced in 2020 when the sector added 23,000 full-time employees (FTEs), reached $26.7 billion in revenues, and contributed 7.4 percent to the country’s Gross Domestic Product (GDP) against a backdrop of the global financial crisis caused by the pandemic. “It is doubtless that our industry’s performance in the past year and half would not have been possible if not for the considerable support and incentives provided by the government, and the agility displayed by our allied sectors,” noted Hernandez.

IBPAP is the umbrella organization of the IT and Business Process Management (IT-BPM) industry in the country. IBPAP serves as the one-stop information and advocacy gateway for the sector.