by: Sarah Joson
Monday, July 29, 2013 | Outsourcing News |
During the quarterly CEO briefing of the Information Technology and Business Process Association of the Philippines (IT-BPAP), Senior Executive Director Gillian Joyce Virata said the minimum revenue target, which is $20 billion, could be achieved in the next two years.
The IT-BPO sector sees the growing demand for high-value products compared to low-value processes.
According to the updated 2013-2016 IT-BPO roadmap, this year’s revenue is projected to reach $15.8 billion from last year’s $13.2 billion. For the industry to achieve its end goal of $25 billion by 2016 and 1.3 million jobs from the current 770,000, it has to achieve a 17-percent annual growth rate in three years.
Virata noted that the growth of the sector is caused by the rising demand of companies for high value products.
Virata also cited data from IT-BPAP’s survey that 43 percent of the 850 BPO firms in the country earn their revenues from high-value processes. The study likewise showed that 23 percent of BPO firms generate 70-89 percent of revenues from high-value offerings.
Other findings showed that 75 percent of the total revenues are from BPOs based in Metro Manila, and the rest are from other major cities.
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