BPO revenues seen to hit $22.5b
Export revenues of the information technology and business process management sector are expected to rise 25 percent this year to $22.5 billion from $18 billion in 2014, an industry group said Tuesday.
The IT and Business Process Association of the Philippines said the industry would likely have 1.2 million workers and $22.5 billion revenues by end-2015.
“To achieve this and future targets, we need to sustain the industry’s momentum as much as we also need to focus on talent development,” ITBPAP director for talent management Penny Bongato told reporters at the sidelines of the two-day International IT-BPM Summit held at the Marriott Hotel in Pasay City.
Bongato said the middle management of different companies should be able to handle a sustainable talent pipeline and absorb new graduates to support growth.
The increasing global demand for talent encouraged countries to focus more on talent development.
ITBPAP said as the Philippines acquired new markets, it was now trailing talents to expand their language capabilities.
“New countries are being assigned to the Philippines. Communication technology is not only in the Philippines but in other countries. The challenge for voice keeps scaling up. We need to keep up,” said Bongato.
The Philippines remains the top outsourcing destination in the Asia-Pacific region, in terms of geography.
Bongato said the industry was “definitely on track of reaching the goals of Roadmap 2010-2016.”
The ITBPAP is also crafting the next roadmap to guid the industry until 2022 and expects to finish the new roadmap by end of 2015.
ITBPAP chairman Dan Reyes said IT-BPM companies were seeking continuity of policies and incentives from the new administration in 2016 to help the industry reach its targets and maintain, if not surpass, the growth it was enjoying now.
“We have a lot of investors in this industry that are foreign. One of the things they really enjoy is the consistency of things, of the laws and policies of the government as well as incentives,” Reyes said.
He said the government support on the continuity of incentives was very important to entice more foreign BPM companies.
“Right now, the climate is that when they [global companies] are searching for countries that they are looking at expanding into, they look for the Philippines,” he said.
The ITBPM sector still enjoys incentives from the Philippine Economic Zone Authority and from the Board of Investments.