IT-BPM Sector Expected to Hold Steady
The Business Process Management sector is confident that it can sustain the robust growth it has seen so far.
The threat of losing business from the United States looms large. It was an election promise of the U.S. President Donald Trump to ban offshoring of American jobs, and that too within 100 days of his taking the office. He formally took over the reins of the administration on January 20, 2017.
Ike Amigo, who heads the IT & Business Process Association of the Philippines (ITBPAP), is least worried. He believes that should the worst happen, that will not be the end of the sector. The United States is not the only country that outsources business operations to the Philippines. There is Canada, New Zealand, Australia, Japan, and India, which too outsource billions of dollars’ worth of business to the archipelago.
The IT & Business Process Management sector generates $22.9 billion worth of revenues annually. 1.15 million Filipinos are directly employed by the BPO services sector, and another 3.68 million indirectly. Amigo, a former Director at Accenture, stands by the ITBPAP’s Accelerate PH Roadmap 2022, which projects a rosy growth for the sector.
