February 3, 2012: Information Technology and BPO sector in Philippines plans to become the leader in four fast growing sectors across the globe. The four sectors are Healthcare Information management, Finance and accounting, Human Resource management and Creative Process Outsourcing.
This was announced by the Business Process Association of the Philippines and the Information and Communications Technology Office (ICTO). The ICTO comes under the Department of Science and Technology of Philippines.
In 2011 Philippines surpassed India to become the global leader in the call centre industry. During the period the Information Technology & Business Process Outsourcing Industry earned revenue of USD 11 billion from export of services. The sector has provided direct employment to 640,000 people and indirect employment to about 1.5 million people in Philippines. Alejandro Melchor, from the Information and Communication Technology Office says that Philippines is the pioneer in the call centre business across the globe and now they aim to grab the top position in the United Kingdom and Australia as well.
Philippines has introduced new development programmes for the Information Technology and Business Process Outsourcing sector that will help them become the global leader in Healthcare Information Management Outsourcing, F&A outsourcing, Human Resource Outsourcing and Creative Process Outsourcing. They also plan to increase their market share by two fold in the ITO, Engineering Services Outsourcing and Multilingual BPO.
The Information Technology & Business Process Outsourcing sector estimates that the revenue earned by the industry accounted to about 5 per cent of the GDP of Philippines during 2011. The industry expects that their contribution to the GDP will become 8.6 per cent by 2016.
Sources from the ICTO says that the IT-BPO sector will contribute significantly towards the GDP of Philippines in the next five years and also create many job opportunities to the people in Philippines. They also said that the initiatives undertaken by them is not directed only at the IT-BPO industry, but also to enhance the quality of the graduates to make them employable in BPO as well as other industries.
The major players in the industry have a positive outlook about the developments in the IT-BPO industry. According to Business Processing Association of the Philippines (BPAP) Chairman, Alfred Ayala, they expect that the industry can earn USD 25 billion in terms of export revenue and 1.3 million direct employment opportunities and 3 million indirect employment opportunities by 2016. Indirect jobs refer to those jobs in field of construction and other services that support the growth of the IT-BPO industry.