The country’s business process outsourcing (BPO) industry will have to improve the skills of its talents to cope with expanding opportunities that would bring the industry to $38.9 billion revenue level cornering 15 percent of the word’s total outsourcing revenue generation.
Under the IT-Business Process Association of the Philippines (IBPAP) Roadmap 2022 dubbed Accelerate PH: Future Ready, the Road Map, the industry is expected to hit a revenue level of $38.9 billion from the current $22.9 billion revenue level. The roadmap also forecast the Philippine industry to account for 15.5 percent of global outsourcing.
Outsourcing business coming by American companies will continue to propel growth domestic growth.
The industry even dispelled the notion that the industry will be adversely affected by recent developments in global politics by outlining the fundamental drivers of future growth in the Philippine IT-BPM industry.
Philippine Software Industry Association President Jonathan De Luzuriaga said the drivers of growth in the country are its cost competitiveness, service-oriented culture, and the growing market demand in the APAC region.
Despite these advantages, Luzuriaga also underlined the need for the IT-BPM industry to upskill the talent pool in order to fully take advantage of the growth opportunities in the next six years to meet growth forecast.
In a presentation at the recent Town Hall Meeting hosted by The Contact Center Association of the Philippines (CCAP), Luzuriaga has emphasized in his presentation the importance of upgrading the skills of manpower employed by the industry.
“The real opportunity for growth lies in mid-skilled tasks and high-skilled tasks. We need people who have strong analytical skills, strong grasp of logical reasoning. Low-skilled employees have to be upgraded to mid-skilled workers, mid-skilled workers have to be upgraded to high-skilled workers,” said De Luzuriaga.
He also dispelled the notion that the industry will be adversely affected by recent developments in global politics by outlining the fundamental drivers of future growth in the Philippine IT-BPM industry. He said the drivers of growth in the country are its cost competitiveness, service-oriented culture and the growing market demand.