by: Karen Cayamanda
Monday, May 28, 2012 | Outsourcing News |
According to a study by the Philippine Software Industry Association (PSIA), the country’s software services outsourcing sector grew by 37 percent last year as more clients outsource IT and software requirements to service providers in the Philippines. The sector posted $993 million in revenues and an increase in employment rate at 11 percent.
PSIA President Nora Terrado said the increase in IT outsourcing revenues can be attributed to process optimization and improved technical workforce as a result of the efforts of both industry players and the government.
It was observed that local industry players are moving from providing full services to product development. PSIA has launched PD/SIG, a special interest group focusing on product development. It was created to help the country’s software development sector in producing products and offering them to customers.
To sustain the growth of the sector, Terrado said they are now looking at new opportunities. Capability development and innovations in both products and services are crucial for the continuous growth of the sector especially with the emergence of the cloud and challenges in the global market.
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