The demand for the value-adding software services from the Philippines is expected to grow exponentially as the industry positions itself competitively in the global markets, according to officials of the Philippine Software Industry Association (PSIA).
The growth of the software sector in the Philippines and in service centers in other parts of the world will be discussed in the fourth annual International Outsourcing Summit to be held on October 7 to 9 in Manila.
The event will gather together 500 delegates from about 20 countries, composed of top executives, domain experts, analysts and representatives of key industry players, to discuss the the status of the industry and the opportunities and challenges it is faced with.
According to Business Processing Association of the Philippines (BPAP) president Benedict Hernandez, the software industry earned $993 million in revenues in 2011 and employed 50,000 full-time workers and is thus ranked among the top contributors to the growth of the local information technology-business process outsourcing (IT-BPO) industry.
A revenue of $1.5 billion and total jobs of 80,000 are being targeted for the sector, said PSIA President Nora Terrado.
The PSIA, one of BPAP’s five partner association, has a membership of about 150 firms engaged in software development and IT outsourcing.
A recent report by global management consulting firm Everest Group said the Philippines is a mature global location for software services, joining the ranks of China, Brazil, India, and Poland.
Adapted from a report by GMA News