IT-BPM firms make gains in the face of Covid-19 uncertainty

The pandemic’s uncertainties have benefited the local information technology and business process management (IT-BPM) sector as it was able to secure additional accounts and clients, according to an industry group.
IT and Business Process Association of the Philippines (Ibpap)noted that IT-BPM markets across the globe have made several adjustments to their operations due to the pandemic. Many enterprises have started to consider multiple aspects of their location to optimize costs, enhance their business continuity plans, and gain access to alternative talent pools.
“This has naturally caused some movements in terms of accounts and clients across certain delivery locations, including India and the Philippines,” said Ibpap President and CEO Rey E. Untal.
Among the support provided by the group includes human resource development, business development, knowledge sharing and networking opportunities.
The IT-BPM sector is currently operating through a blended work and service model, with 70 percent of employees working from home and 30 percent working on-site.
This year, majority or 87 percent of the IT-BPM firms are expecting to book 5 percent to 15 percent growth while 13 percent are anticipating flat growth.
The industry group said in April there were also a “good number” of companies planning to expand their business in the regions within the next 12 to 18 months.
Last year, the employment in the industry grew by 1.8 percent to 1.32 million while revenues rose by 1.4 percent to $26.7 billion.

Source:
https://businessmirror.com.ph/2021/06/11/it-bpm-firms-chalk-up-gains-amid-covid-19-uncertainty/

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