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By Lawrence Casiraya
INQUIRER.net
First Posted 13:55:00 December 29, 2008
MANILA, Philippines -- Despite the expected slowdown next year, the Philippines will likely generate interest from foreign companies outsourcing software services.
"We expect the industry to still grow next year but in terms of overall growth, our approach is cautious optimism meaning we will wait and see," said Philippine Software Industry Association (PSIA) president Beng Coronel.
PSIA represents some 130 local software firms, most of which are engaged in software-related services for foreign-based clients.
"Software is a critical component of any company's operations and relatively, it is not that much affected by global recession," pointed out Coronel during an interview with INQUIRER.net.
As companies abroad cut costs, Coronel expects more demand for services provided by local firms.
"Right now we are seeing a shift in more application and maintenance work being outsourced," she said. "If we are able to elevate our service levels further, we will be able to increase our global market share."
Coronel also noted that in the "last few weeks," PSIA hosted a number of foreign visitors "more than any month in the past."
"This should be a good indicator of interest we've been getting from other countries," she said.
The US remains a major source of clients for local software companies although in previous interviews, Coronel often cited the need to target other markets such as Europe.
PSIA estimates its members generated a total of more than $423 million in revenues in 2007. The group is targeting to increase this to a billion dollars by 2010.
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