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IT-BPM sector revenues up 10.6 percent to $29.49 billion 2021: group

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A senior BPO worker in the Philippines. Photo: IT and Business Process Association of the Philippines/Handout" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/news/06/08/bpo-worker.jpg"/><figcaption>A senior BPO worker in the Philippines. <em>Photo: IT and Business Process Association of the Philippines/Handout</em></figcaption></figure></div><p>MANILA - The IT and Business Process Management (IT-BPM) industry which covers the Business Process Outsourcing (BPO) sector, grew in terms of revenues and workforce in 2021, a stakeholder group said Wednesday.</p><p>Revenues jumped 10.6 percent to $29.49 billion compared to 2020, the IT and Business Process Association of the Philippines (IBPAP) said in a statement. </p><p>An additional 120,000 full-time employees also joined the sector, which brought the total headcount to 1.44 million or a 9.1 percent growth, it added.</p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Chart by IBPAP" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/news/06/08/chart.png"/><figcaption><em>Chart by IBPAP</em></figcaption></figure></div><p>Both the revenue and talent growth surpassed its 2022 recalibrated targets of 1.43 million full-time employees and $29.1 billion in revenues, IBPAP said.</p><p>&quot;The double-digit growth validates what we had projected - that 2021 performance was beyond recovery; it marks a resurgence for the Philippine IT-BPM sector,&quot; IBPAP president and CEO Jack Madrid said.</p><p>&quot;Preserving jobs, driving investments, stimulating countryside development, and creating demand for real-estate-these are the unequivocal contributions of the industry to nation-building,&quot; he added.</p><p>Madrid said the demand for offshoring and outsourcing would likely spill over into 2022.</p><p>&quot;We should not miss out on this opportunity to capture a bigger slice of the global market,&quot; Madrid said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/28/22/as-govt-nixes-wfh-bpos-say-hybrid-work-is-the-future">A fight for the fate of work: As gov&#x27;t nixes WFH, BPOs say hybrid is the future</a></li></ul><div><strong>SUSTAINING GROWTH</strong></div><p>IBPAP said growth could be sustained by several factors, including supply chain resilience in terms of talents, location diversity such as small-scale centers or microsites, and the integration of hybrid wrk models.</p><p>The group said 80 percent of Filipino BPO workers expressed preference for hybrid work arrangements.</p><p>IBPAP is pushing for a more concrete regulation on hybrid work after the government ordered firms to go back on site by March to continue enjoying tax incentives.</p><p>Several firms have secured a letter of authority to allow 30 percent of their employees to work remotely until <a href="https://news.abs-cbn.com/business/03/15/22/peza-backs-bpo-work-from-home-extension-until-september">September</a>. </p><p>IBPAP said it has been working with the incumbent and incoming administration to &quot;lay down building blocks for a more comprehensive policy&quot; on hybrid work.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/25/22/bpo-sector-says-discussing-hybrid-work-arrangement">BPO sector discussing hybrid work arrangement to remain competitive: group</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1962323" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The IT-BPM industry which covers the Business Process Outsourcing sector, grew in terms of revenues and workforce in 2021, a stakeholder group said.