Submitted by: Pointwest Technologies Corporation,
through Lucy Flores, PACCO
The Information Technology-Business Process Outsourcing (IT-BPO) industry in the Philippines has been one of the most dynamic and fastest-growing sectors in the country. The country attracted foreign companies and investors in the sub-sectors of knowledge process outsourcing and back offices, call centers, software development, medical transcription, engineering design, game development, and animation. With its exponential growth, the industry is now a major player in the global stage.
The Philippines expanded its capability to non-voice IT and BPM services for a broader global clientele and established itself as one of the top-tier destinations for high-quality services at more competitive price points. The expansion also went to horizontal BPM services in areas like finance and accounting, as well as vertical-focused solutions such as healthcare information services.
US-based companies have outsourced part of their services and business processes such as customer service centers, financial services, legal, R&D, learning management, and non-clinical healthcare services to name a few.
According to a recalibration study by the Everest Group, the Philippine IT-BPM industry’s revenue growth rose by 8% with headcount growth at 12% in 2021. It is expected to be in the double digits in 2022 led by digital transformation – Big Data Analytics (BDA), Automation and Artificial Intelligence (AI), and Cloud Computing. Global In-house Centers (GICs) and Health Information Management Services (HIMS) are poised for growth despite the ongoing pandemic.
Pointwest Technologies Corporation (www.pointwest.com.ph)
2021/22 Philippines IT & BPO Industry Performance and Outlook