The Business Process Outsourcing (BPO) sector in Cebu plans to invest in innovation and technology to regain faster growth after slowing down in recent years, as announced by Cebu IT-BPM Organization (CIB.O).
In an interview with ANC, CIB.O President Pert Cabataña said that even before the pandemic, the industry had been experiencing a slow growth.
Compared to 2010 to 2016 when IT-BPM had increased at a rate of 10 to 15% per year, there has only been a 7% growth in 2019 while the 2020 to 2022 projection was revised downward to 3 to 5%.
According to Cabataña, “That kind of low growth is expected to continue for the next few years. That’s why [we are] taking this opportunity to inject something new into the industry such that it would be able to recover its fast-growth trajectory.”
A summit from July 12 to 15 will be organized by the group as a sign of their determination “to do something drastic.” It aims to promote recent innovations and ecosystem development in the BPO industry.