The global COVID-19 pandemic has left an indelible mark on industries worldwide, including IT. Despite the adversity, the Philippine IT industry sees growth amid economic challenges. Many companies have adapted to the new normal. The majority have leveraged remote work arrangements and innovative strategies to sustain growth during these testing times.
Information Technology (IT) has been pivotal in organizations and businesses globally. To stay competitive, the country’s business process outsourcing sector tackles these issues and capitalizes on the opportunities offered by emerging technologies.
Bridging the Digital Gap
Approximately 60% of Filipino households currently lack access to digital solutions. Factors such as underdeveloped payment infrastructure, high internet costs, and low account ownership pose significant hurdles to digital adoption. Nevertheless, recent advancements in digitalization are bridging the digital gap and are enhancing the Philippines’ digital competitiveness.
The World Digital Competitiveness Ranking 2022 by IMD revealed that the Philippines scored 52.81. This signifies substantial improvement in digital competitiveness. Moreover, the Philippine Digital Transformation Strategy (PDTS) builds on prior efforts to establish a digital government. Thus, leveraging technological innovations and development to steer the country towards a more digital future.
Strategies for Digital Transformation
The following strategies can help the Philippines navigate its digital challenges and enhance its current situation:
1. Empower MSMEs: MSMEs form the backbone of the economy and need to be equipped with the right resources for sustainability. They play crucial parts in creating an environment where businesses can harness innovation to drive positive outcomes.
2. Implement Appropriate Technology: Providing accurate information about digital technologies and their benefits is vital for promoting business digitalization. Additionally, the government should collaborate with digital platform providers to offer up-to-date and diverse content.
3. Enhance Digital Infrastructure: The World Bank emphasizes that the Philippine internet’s condition requires substantial improvements to enable the digital economy to contribute significantly to economic recovery. Accessible internet services will ensure long-term stability and support medium-term economic recovery and growth.
4. Increase Budgetary Support: Financial aid can motivate MSMEs to adopt digital technologies. Further financial support can alleviate the burden of subscription fees for digital service subscribers.
Investing in IT Talent
Investing in IT talent and skilled professionals, particularly in the Philippines, is an effective strategy to enhance digital strategies and address current industry challenges. Businesses stand to gain from Filipino IT outsourcing services as they broaden their knowledge base, stay abreast of current trends, and transform daily operations.
TESI ITO, a premier outsourcing company specializing in information technology, offers top-tier technology outsourcing services with a team of Filipino IT experts. Furthermore, our company provides a variety of services. These services such as talent sourcing, managing employee paperwork, payroll, and tax filing, allows clients to concentrate on core, revenue-generating activities.
Carolyn, a Vice-President of Customer Experience, has been in partnership with TESI ITO since 2018 and has successfully scaled her company’s operations through their round-the-clock global technical support.
For more information on TESI ITO and our world-class services, visit our website at https://tesioutsourcing.com/services/.
Amid economic challenges, the Philippine IT industry sees growth. As we apply these digital transformation strategies, and by investing in IT now, businesses can reap the benefits of the steadily growing industry and aid the Philippines in adapting to the digital age.
