The Philippines, a Top-Tier Destination for IT-BPO Services
Pointwest
March 24, 2022
The Information Technology-Business Process Outsourcing (IT-BPO) industry in the Philippines has been one of the most dynamic and fastest-growing sectors in the country since 1997. The country attracted a lot of foreign companies and investors in the sub-sectors of knowledge process outsourcing and back offices, call centers, software development, medical transcription, engineering design, game development, and animation. With its exponential growth, the industry has become a major player and contributor to the economic development of the Philippines.
The country has expanded its capability to provide non-voice IT and BPM services to a broader global clientele and has established itself as one of the top-tier destinations for high-quality services at more competitive price points. The expansion also went to horizontal BPM services in areas like finance and accounting, as well as vertical-focused solutions such as healthcare information services.
US-based companies have outsourced part of their services and business processes such as customer service centers, financial services, legal, research and development, learning management, and non-clinical healthcare services to name a few.
Industry Outlook
According to a recalibration study conducted by the Everest Group, the Philippine IT-BPM industry’s revenue growth picked up by 8% with headcount growth at 12% in 2021 and is expected to still be in the double digits in 2022. This will be led by digital transformation with top trends including Big Data Analytics (BDA), Automation and Artificial Intelligence (AI), and Cloud Computing. Global In-house Centers (GICs) and Health Information Management Services (HIMS) are poised for growth despite the ongoing pandemic.
Rising Wave of Healthcare Information Management Services
Healthcare Information Management Association of the Philippines (HIMAP) President, Vincent Remo, said in 2021 that the growth forecast for HIMS was on an uptrend with a projected growth of between 5-10%. He attributed this to countries such as the US as they continue to outsource their operations here for the rich talent pool and cost advantages. Other factors that attract HIMS investors are the flexible working arrangements, more reliable telecom and internet infrastructure, and availability of digitally-skilled healthcare professionals that can offer high-quality services and new concepts of care delivery models.
On the Crest of the Wave
Pointwest Technologies Corporation, a fully Filipino-owned premier IT-BPM company, is at the forefront of this uptrend with innovative and tailored solutions and services. By providing their expertise with automation-enabled healthcare BPO services such as Pharmacy Benefit Management, Pharmacovigilance, Clinical Trials, and Revenue Cycle Management, Pointwest can help companies implement business transformation through technology.
One of the top Philippine Health Maintenance Organizations (HMO) was able to benefit from Pointwest’s modernization of their online services with a fully digital member self-enrollment system for their customers. The new system has fully automated features that maximized efficiency and ease of use and led to a 31.40% reduction of support tickets received by their internal team. This partnership with Pointwest was built on a shared vision of growth and modernization, consequently securing the HMO company as an industry pioneer that currently services over 1.5 million members and has affiliations with over 2000 hospitals in the Philippines.
“Here in the Philippines, we’ll see the convergence of talent, strong infrastructure, and an enabling business landscape that will welcome you as you bring your business,” Rey Untal, Pointwest President and CEO, said in a webinar as an invitation for foreign businesses and investors to take advantage and explore what the Philippines’ IT-BPM industry offers. “It is really upon us, and with the partnership of the audience we now have, to really push for selling and make a compelling value proposition because anybody who comes here and works with us is simply delighted,” he adds.
The Philippines still remains one of the top-tier destinations for IT-BPM services and a leader in the global IT-BPM industry. The current upward trends and conditions, as well as the ready availability of a highly-skilled talent pool all contribute to a perfect business environment for companies to outsource their business processes and services.
Sources:
2021/22 Philippines IT & BPO Industry Performance and Outlook
PH construction, IT-BPM industries see expansion amid pandemic
PH remains an attractive location for health info management services, targets 10% growth for 2021
IT-BPM sector seen growing 8% this year
Everest Group. Executive Presentation – Industry Trends. January 2022.
IBPAP. Recalibration of the Philippine IT-BPM Industry Growth Forecasts for 2020-2022. December 2020.
For inquiries, contact us at ask@pointwest.com.ph
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