The Information and Communication Technologies (ICT) sector of the Philippines is expected to grow at a faster rate in the coming years. The International Data Corporation (IDC), a global intelligence agency, predicted the country’s digital economy would find increased maturity as more organizations adopted digital innovation. This includes, for instance, small businesses adopting a PBX phone system for improved communication within their organization.
Drivers of Growth
The report of the IDC predicted further growth of ICT in the country would be driven by both public and private sector concerns. Local Filipino businesses have a growing and vested interest in incorporating digital technology. Organization leaders see new technologies as facilitators for growth more than as a mere tool to accomplish a task. The efforts displayed by public and private shareholders signify the country is shifting towards a more rapid and complete adoption of digital technology.
However, many organizations in the Philippines are still considered digital resisters and explorers. This implies the country’s adoption of technology is growing at a slower rate than that of its regional peers. The IDC report suggests this is about to change and use of digital technology is quickly becoming a local trend. This is encouraging for further ICT growth in the country.
Businesses in the Philippines aim to become digital-native enterprises in order to find greater success and to become a player in the competitive global digital economy. There are other strategic predictions as well:
Chief Information Officer
The tone of ICT development in the country will depend on the strategies of each local organization’s Chief Information Officer (CIO). A disruptive CIO who thinks out-of-the-box can contribute significant improvements in the ICT sector by incorporating new technological ideas and strategies into their business. For example, the efforts of a CIO may establish new trends in the workspace. As a result, a business may have a digital-centric mindset with operations driven by various types of digital technology. The IDC predicted CIOs will shift their focus onto cyber security and on achieving greater levels of authentication and trust, as a way to better handle business risks.
Effect on Customers and Public
With the country moving to greater levels of digital transformation, new technologies are expected to integrate into the lives of the general public. Digital empowerment encourages seamless and non-disruptive digital integration into sectors like retail and financial services.
Businesses are expected to practice new standards. This includes the use of digital-driven, customized, and personal approaches for developing customer intimacy and relationships. Business with marketing strategies with analytics and customer insights capabilities allow them to work toward greater talent acceleration. In addition, the organization is able to experience better customer retention and profitability than competitors who do not adopt technology into marketing.
The country’s adoption of digital transformation is expected to achieve greater maturity in the coming years. Digital vision is predicted to become clearer with increased awareness and with the government developing regulations for ICT initiatives. Enterprises in the Philippines can become more successful in the competitive global digital market with increased interest and investment in the incorporation of digital technology.