News: IBPAP to do Mid-year Self Assessments to Better Monitor BPO Industry Performance!

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The IT and Business Process Association of the Philippines (IBPAP) plans to depart from the standard yearly industry review practice and move to a more aggressive, 6 month cycle instead.

This new approach, which will be implemented in 2018, aims to better monitor BPO performance in terms of revenue and head count.

Rey Untal, IBPAP president and CEO

 

“What we have right now is a yearly reckoning. That’s one of the things I’m trying to work out. Let’s have a middle of the year assessment. We shouldn’t learn about how we did revenue-wise and headcount-wise when the year is almost over.”

Why Change?

Well, the aborted threat of VAT in the administration’s new tax reform initiative, and security related incidents in Resorts World and Marawi have partially derailed the growth trajectory of the local BPO industry.

According to the Philippine Statistics Authority, in Q1 of this year, the Philippines suffered a 34 percent drop in investment pledges which directly impacts the IT-BPM industry.

IBPAP declares that the administration’s “anti western rhetoric” last year can be one of the causes of the performance contraction.

Rey Untal, IBPAP president and CEO

 

“In our job, there is a performance evaluation. You need a performance evaluation that is more frequent. We need to understand that the industry is very big. To gather these numbers takes some effort.”

38 Billion U.S. Dollars by 2022 or Bust!

The IT-BPM industry earned a whopping 22.9 Billion U.S. Dollars in 2016, and IBPAP is trying to be vigilant through mid year reviews so that the Philippines will reach the projected target income of 38 Billion U.S. Dollars by 2022. pushAUX.com

Note that the IT-BPM industry is also the biggest private sector employer at 1.15M direct employees (again, by 2022, this workforce is expected to balloon to 1.8M workers).

BPO’s Have More Fun in the Philippines!

IBPAP is also pursuing a “country branding exercise” – the goal of which is to attract more investments into the Philippines. The BPO group has gone to Australia and Japan last May for a trade mission, with Canada slated as the next destination.