The Information Technology and Business Process Association of the Philippines (IBPAP) will revisit its industry strategy and growth outlook due to the effects of the global pandemic.
IBPAP, however, noted in a virtual press conference positive indicators that show the industry is still growing despite the present challenges brought by COVID-19 to various businesses.
“The good news is we were able to quickly mobilize the blended way of working onsite and working from home, bringing a high productivity level for the industry of 92 percent at this time,” said IBPAP president and CEO Rey Untal.
Untal said the roadmap they bared last year was supposed to have been good until 2022, up until the pandemic threw a monkey wrench to their numbers. Under last year’s 2022 roadmap, the IBPAP forecast a revenue growth of 7.5% annually at most until 2022 to hit $32 billion, a more muted outlook from the previous forecast of up to 9% growth per year en route to $38.9 billion in topline.
Untal said the new commissioned study will take eight weeks to complete.
“Before there was a lot of ambiguity ahead, now I think we could have a better handle,” Untal on the direction of the BPO sector.
Amid the challenges of the pandemic to every business vertical, Untal said there remains cause for optimism.
“We have seen surges of demand. We continue to hire as an industry,” Untal said, citing an increase in headcount for healthcare-affiliated BPOs.
“I will not outrightly say that things are behind us. But I think the pockets of growth we are seeing is a good indication that we are able to grow in some areas whereas many other industries are still trying to bring it back to previous levels,” Untal added
In line with the industry’s efforts to chart a new direction, the IBPAP, along with its partner associations, is also set to hold its annual International Innovation Summit virtually on November 4, 5, 10, 17 and 19 where it is slated to launch its recalibrated roadmap.