IT-BPM

The Philippines, renowned as a thriving hub for Information Technology and Business Processes Management (IT-BPM) services, recently welcomed Uganda's Ministry of ICT and National Guidance for a week-long benchmarking mission from June 10-17.

IBPAP said the number of full-time employees (FTEs) in the country grew 8.4% or by 121,000 in 2022, bringing the industry’s total headcount to 1.57 million. The sector also recorded a growth of 10.3% in revenues to reach $32.5 billion in 2022.

The Virtual Customer Services (VCS) project, which will adopt 100% work-from-home operations for its contact center agents, will provide customer and vendor management services to support Amazon’s global retail business and sellers.

The Department of Finance said the IT-BPM firms can still implement a remote work arrangement for their employees but the companies must give up their fiscal incentives because these tax incentives are meant to be enjoyed inside an ecozone.

Rey Untal will be replacing industry stalwart and Pointwest founder Beng Coronel, who has moved to a senior advisor role at the company.

The growth of the country’s contact center sector is expected to outpace global growth in 2021, according to an outlook released by the Contact Center Association of the Philippines (CCAP).

Despite being severely affected by the pandemic, the IT-BPO sector remains on top of the heap among industries that are hiring employees for 2021.

The revenue outlook for the IT-BPM industry at end-2020 is at $26 billion, while full-time employment will remain at 1.3 million.

Data from the Philippine Economic Zone Authority showed that from January to July 2020, registered investments from the BPO sector grew 37 percent to P11.4 billion amid the global health crisis.

By 2022, the industry is expected to generate revenues around $29 billion to $32 billion while full-time employees will increase to about 1.42 million to 1.57 million.