IT-BPM is a growing industry, and in 2022 the IT and Business Process Association of the Philippines (IBPAP) revealed that the sector made $32.5 billion in revenue. But what is IT-BPM, is it different from BPO and what do all the acronyms stand for? Let’s find out.
What is IT-BPM?
IT-BPM stands for information technology and business process management. IT-BPM is typically used by businesses to handle their IT needs and manage any necessary business processes. These processes could be anything from optimising workflows to insurance claims management, and all kinds of businesses and multinational companies make the most out of these services to enhance their productivity and boost their turnover.
In 2022, the IT-BPM industry in the Philippines employed 1.55 million Filipinos and contributed more than $31 billion to the economy. We know the BPO industry is huge in the Philippines, but how is IT-BPM different from BPO?
What’s the difference between IT-BPM and BPO?
The difference is subtle, but according to Taurfish, IT-BPM focuses on improving business processes overall, and BPO focuses on outsourcing specific business functions. BPO stands for business process outsourcing, where a business or company can offshore entire functions to save costs, time, and space. You can find out more about the origins of BPO and Indigo 21’s journey through the BPO landscape in our previous blog.
Examples of IT-BPM
So what kind of business processes can IT-BPM cover? The clue in the first part of the name — IT — shows that any information technology functions can be handled by BPM.
This can include:
- IT functions like data management
- HR functions like employee onboarding
- Project management
- Online inventory management
Anything that can be managed via a computer system can be handled as an IT-BPM service. And the Philippines is a major player in the IT-BPM world. In a survey it conducted, the IBPAP revealed that 83% of IT-BPM firms are expecting to see growth this year in spite of the potential global economic slowdown.
Facts and figures about IT-BPM
- Employees: Full-time IT-BPM employees in the Philippines — 1.57 million
- Revenues: 8-10% rise on 2021 in the Philippines
- Future for employees: Goal of full-time Filipino employees to rise to 1.7 million
- Future for revenues: 10% rise to $35.9 billion in the Philippines
What’s the future of IT-BPM?
Developments in IT-BPM show no signs of slowing down. In fact, in 2021, Gartner said: “By 2024, 80% of technology products and services will be built by those who are not technology professionals.“ (Gartner Inc., Press Release June 2021). But what does that mean? And what products and services can we expect from the industry?
GBTec put out a fascinating whitepaper outlining its top 5 predictions for the future of IT-BPM, including:
- No- or low-code technologies
- Adaptive process management
- Automated process discovery
- The Process CEO
- Green BPM
The one that caught our eye the most was the no-code/low-code technologies. Advances in this area can give people with little to no programming knowledge an advantage over established programmers, giving them access to a potential new market of clients. Another great opportunity for the IT-BPM world.
IT-BPM is just one route into BPO that companies and businesses can take to remove pressure from their own staff and expand into a new market. Why not find out more about Indigo 21 in our previous blog posts and discover the power of outsourcing for yourself.