Support from the government is recognized as a factor in sustaining IT-BPM growth.
Because of government support, the information technology and business process management (IT-BPM) industry has constantly demonstrated its durability, creating thousands of new employees each year and becoming a major source of foreign money, according to an industry leader on October 20, 2021.
Through decades of change and periods of ambiguity, the IT and Business Process Association of the Philippines (IBPAP) acknowledged the industry’s important role in the economy.
This was reinforced in 2020, when the sector added 23,000 full-time employees (FTEs), generated US$26.7 billion in sales, and contributed 7.4% to the country’s GDP against the backdrop of the global financial crisis brought on by the pandemic.
In a virtual news conference on Wednesday, IBPAP Chairman Benedict Hernandez announced the launch of the upcoming 13th International Innovation Summit (IIS), which will address the role of industry in the new normal.
“Our industry’s performance in the last year and a half would almost certainly not have been possible without the significant assistance and incentives offered by the government, as well as the adaptability demonstrated by our associated sectors,” he said.
IBPAP is the country’s umbrella body for the IT-BPM industry, with 87 percent of IT-BPM firms anticipating growth of 5 to 15% by the end of the year.
In 2021, the industry projects 1.43 million full-time equivalents (FTEs) and $28.8 billion in sales.
“We must remember that, in order for this to happen, the sector must redesign the future through our major strategic imperatives on digitalization, talent, policy formation, country marketing, and infrastructure,” Hernandez stated.
This is exactly what the 2019 IIS will strive to do by bringing together the inventors, builders, and enablers of the Philippine IT-BPM industry once again.
IIS 2021 will look at how the industry is creating new points of interaction in a world that is always changing and connected from all over the world.
The summit, titled “New Points of Contact: Advancing in a Boundaryless World,” would lay the groundwork for a digital Philippines and economic growth.
“At this year’s Summit, we’re taking the industry to where our new points of contact —Platforms, People, Pillars, Policies, and Places – will see the most significant reset,” said Nora Terrado, vice-chair of the IBPAP. “We’ll raise the conversation about the transition realities that the IT-BPM ecosystem is facing, and we’ll share ideas that will be important to the sector’s strategy for embracing the digital age, creating innovation, and contributing to economic growth.”
Government officials, academics, and business leaders are invited to attend the virtual 13th IIS on November 16, 17, 18, 23, and 24, 2021.