June 17, 2021

Cebu’s IT-BPM sector is regarded as one of the country’s most important economic drivers

Despite the coronavirus disease 2019 (Covid-19) pandemic, Cebu’s information technology-business process management (IT-BPM) sector is expected to continue expanding as one of the main economic drivers in the southern economic powerhouse.

Pert Cabataa, president of Cebu IT BPM.Organization (CIB.O), made this prediction at a press conference on the forthcoming 2021Transformation Summit on July 12-15.

“The business has not collapsed, but we are not entering a slow growth rate or curve,” Cabataa said, adding that this is a “normal process” that the sector must go through as it deals with the economic fallout from the Covid-19 epidemic.

For many years, IT-BPM has been one of Cebu’s leading employment creators, placing the island among the top outsourced investment locations in the world.

According to Cabataa’s estimations, the sector employed between 180,000 and 190,000 people last year, up from 170,000 two years earlier.

The forthcoming virtual summit, he added, would provide a forum for important players in IT-BPM, academia, and government to debate strategies for taking the “great leap ahead” in the face of a worldwide pandemic with far-reaching consequences for people and companies.

While the pandemic has changed many sectors, Cabataa claims that the IT-BPM industry has maintained its “normal operation” despite the epidemic, with the exception that it has extensively embraced flexibility in how it works.

Innovation and ecosystem growth, global market trends, artificial intelligence, big data, health and hygiene, economic projection, digital education, and a changing work arrangement are among the main issues in today’s corporate environment, according to him.

The issue today, according to Cabataa, is for the industry to continue to flourish in these new circumstances and synergize to make the great jump ahead so that it can continue to drive the economy.

During the Transformation Summit, he added, industry professionals would address these problems.

DJ Moises, chairman of the 2021 Transformation Summit, expressed optimism about the IT-BPM industry’s future, claiming that it remains the “lifeline and powerhouse of the economy” despite the epidemic.

According to Moises, the sector is expected to surpass remittances from abroad Filipinos as the Philippines’ primary source of foreign currency revenues.

He went on to say that the sector is on the verge of a better new normal since the “pandemic is just a transitory condition, not a permanent one.”

The four-day virtual event, organized by Cebu’s main IT-BPM organization CIB.O, will feature local, national, and international speakers who will discuss topics such as industry updates and global market trends, local and national economic forecasts, and research developments on AI, IoT, Blockchain, Robotics, and Virtual Reality.

The Transformation Summit 2021 is in accordance with CIB.O’s aim of strengthening and sustaining Cebu’s IT-BPM sector and positioning it as a top option for higher-value services other than call centers.

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