The Information Business Process Assocaiton of the Philippines (IBPAP) is poised to recalibrate anew its forecast on revenues and employment as the new coronavirus disease 2019 pandemic has taken the industry to its inflection point.
Rey Untal, president of IBPAP, in an online press briefing, said the industry remains cautiously optimistic even as the restrictions ease.
Untal said the industry is one of the industries that quickly bounced to about 92 percent of capacity and even saw surges in demand such as healthcare, electronic commerce, logistics as well as captives.
He said big BPO companies are still hiring in the thousands over the near term.
Two companies alone in e-commerce will hire 17,000 workers in the next four months. IT-BPM investments continue to come in rosing 37 percent to P11.4 billion in the first seven months of the year.
In 2019, IBPAP ended with $26.3 billion in revenues, and 1.3 million FTEs, a growth of 7.1 percent and 5.8 percent respectively.
This is the second revision of the three-year roadmap was revised after last year’s downgrade forecasting 1.42 million to 1.57 million full time employees and revenues of $29 billion to $32 billion by 2022.
The study which has been launched recently will be discussed at the International Innovation Summit to be held virtually next month.
Untal said the study will not just reforecast IBPAP’s numbers but will also unveil imperatives and policies for the industry’s future-readiness.