IT-BPM Industry in the Philippines 101

Summary

The IT BPM industry in the Philippines has significantly contributed to the nation's economic growth, with revenues soaring from $1.5 billion in 2004 to $19 billion in 2014, aiming for $25 billion by 2016. This sector, which includes outsourcing of critical business functions like HR, accounting, and IT, has seen employment rise from 100,000 in 2004 to 1.67 million in 2014. Professionals in this field are known for their English proficiency, positive work ethic, and friendly demeanor. The IT BPM industry is projected to require over 1.3 million professionals by 2016, fostering global competitiveness and innovation.

Takeaways

• 🌐 IT BPM stands for Information Technology and Business Process Management, which involves outsourcing non-core business processes to internal units or third-party providers.
• 💼 IT BPM impacts a wide range of sectors including human resources, accounting, customer service, legal, research, health information management, and IT services.
• 📈 The industry has seen significant growth, with revenues increasing from $1.5 billion in 2004 to $19 billion in 2014, aiming for $25 billion by 2016.
• 🏆 The Philippines is recognized as the top destination for contact center management globally, excelling in the IT BPM sector.
• 👥 IT BPM professionals in the Philippines are highly skilled, known for their English proficiency, positive work ethic, and friendly attitude.
• 📊 The industry has contributed to the Philippine economy by generating substantial revenues and employment opportunities.
• 🔼 The IT BPM industry workforce has grown exponentially, employing 1,000 in 2004 to over 1.67 million in 2014, with projections for over 1.3 million professionals by 2016.
• 🔄 For every direct job created in the industry, 2.5 indirect jobs are also generated, showcasing the sector's broad economic impact.
• 🤝 The IT and Business Process Association of the Philippines (IBPAP) plays a crucial role in advocating for the sector and developing talent through various initiatives.
• 🌟 The IT BPM industry in the Philippines continues to be progressive and globally competitive, enhancing the reputation of Filipino professionals worldwide.

Q & A

What is the full form of BPM in the context of the IT industry?

BPM stands for Business Process Management, which involves the outsourcing of processes like Human Resources, accounting, customer service, legal, research, health information management, IT, and more to an internal business unit or a third-party service provider.

How does the IT BPM industry impact the Philippine economy?

The IT BPM industry has a significant impact on the Philippine economy by generating revenues, creating employment opportunities, and enabling businesses worldwide. It has contributed to exponential economic growth in the country.

What kind of jobs are available in the IT BPM industry?

The IT BPM industry offers a wide range of jobs including healthcare providers, animators, IT engineers, software developers, customer service professionals, game developers, pharmacists, accountants, and more.

Why do businesses outsource processes to the IT BPM industry?

Businesses outsource processes to the IT BPM industry to save resources and focus on their core competencies. These processes are critical for operation but are not areas of specialization for many companies.

How has the IT BPM industry grown in terms of revenue over the past decade?

The IT BPM industry has seen a substantial increase in revenue from 1.5 billion dollars in 2004 to 19 billion dollars in 2014, with a target of 25 billion by 2016.

What is the Philippines' standing in the global IT BPM industry?

The Philippines is the most preferred destination for contact center management globally, with the IT BPM industry workforce not only meeting but exceeding global demands.

How many professionals does the IT BPM industry employ in the Philippines?

The IT BPM industry directly employed 1,000 Filipinos in 2004, which grew to 1,670,000 by 2014. It was projected to need more than 1.3 million professionals by 2016.

What is the role of the IT and Business Process Association of the Philippines (IBPAP) in the industry?

IBPAP advocates and enables the growth of the IT BPM sector by developing tools, projects, and programs to cultivate the talent pool in the Philippines. It also focuses on talent development, research, information, marketing events, business development, and government partnerships.

What are the qualities of IT BPM professionals in the Philippines that are recognized globally?

IT BPM professionals in the Philippines are highly skilled and globally recognized for their English proficiency, positive work ethic, and warm, friendly attitude.

How does the IT BPM industry contribute to indirect employment in the Philippines?

For every direct employment generated in the IT BPM industry, 2.5 indirect employment opportunities are also created, contributing to the overall economic impact.