IT-BPM sets 6-year plan toward $40-B revenues

Despite concerns arising from President Duterte’s anti-US stance, the country’s information technology and business process management ( IT- BPM) industry is embarking on another aggressive sixyear plan that targets nearly $40 billion in revenues and 1.8 million more jobs by 2022.

The Information Technology and Business Process Association of the Philippines ( IBPAP) unveiled yesterday the IT-BPM Roadmap which will chart the growth path of the industry in the next six years.

Under the roadmap, the local IT-BPM industry aims to generate revenues of $38.9 billion by end-2022. Its revenue is expected to hit $25 billion by the end of this year.

As a result of the hike in revenue, the industry’s share of the global market will increase to 15.5 percent from this year’s 12.6 percent.

Also by the end of 2022, the IT-BPM industry is seen producing 1.8 million jobs, of which more than 500,000 will come from outside the National Capital Region and 73 percent are mid to high value.

The IBPAP is also looking to hire more post-graduates which will account for 16 percent of the total jobs generated by 2022, as compared to only seven percent of the total employment produced this year.

“IBPAP’s past two roadmaps, Roadmap 2010 and 2016, have been instrumental in successfully growing the IT- BPM industry. With global trends focusing on artificial intelligence, digital transformation, big data and new delivery models, it is important that the sector future proofs itself. With this new roadmap, we aim to accelerate the industry even farther to prove that the Philippines is a future-ready investment destination,” IBPAP chairman Danilo Reyes said.

According to the IBPAP, Roadmap 2022 is its most ambitious blueprint to date as it took a sectoral approach.

“Through this approach, a stable and more inclusive growth is expected to be achieved, resulting to a stronger and thriving IT-BPM industry that effectively responds to evolving market demands,” the group said.

In response to Duterte’s “cutting ties with the US” statement in China, the IBPAP last week reached out to the Office of the President to secure an audience with him and “directly discuss our industry’s asks from government.”

Reyes said it has received confirmation from the President’s team that Duterte is willing to dialogue with the association.

He said confirmation of the exact date of the meeting is still being finalized. The IBPAP will also be handing out to the President a copy of its Roadmap 2022 during the meeting.

The US is a top country investor for the Philippines, most recently in the BPO space which currently employs about 1.3 million.