Philippine IT Outsourcing Leaders Aim to Create $7B IT-BPO Economy

Philippine software developers and information technology (IT) leaders are taking steps to scale up the $3-billion IT and business process management (IT-BPM) industry to a $7-billion economy. During the Philippine Software Industry Association’s (PSIA) event, IT executives, investors, engineers, and regulatory officers met to discuss new technologies, opportunities, and challenges in the digital age.

The event focused on growing IT service areas like banking, healthcare and manufacturing, where industry experts shared success stories. PSIA data shows that there are about 123,000 software developers in the country and about 1.5 million IT consultants.

PSIA president Jonathan De Luzuriaga said they are looking to increase global market share from the current 12 percent to 15 percent. PSIA official for Japan Tae Abe-Abion explained that many under-tapped markets present a great opportunity to further raise this share, saying that Japan, which is the world’s third largest IT market, is just four hours away from the Philippines.

"There is a global gap in terms of IT services delivery. People have been scrambling to find delivery centers and these businesses that mostly went to North America and Europe before, are now getting their requirements from us," said Luzuriaga.

He added that support from the public and private sectors will boost the transition and ensure that the Philippine software industry continues to be globally competitive in all areas, from infrastructure to the talent pool.

The telecoms industry can support higher demands of the software industry and external communities, according to Eastern Communications, the event’s official internet provider.