Digital Economy
From The Report: Philippines 2021
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Philippine authorities have worked to develop the digital economy in recent years, prioritising strengthened internet service provision and a more competitive telecoms market. The country saw an increased reliance on online services and digital technologies, such as e-commerce, during the its extended lockdown period in response to the Covid-19 pandemic. This increased the impetus for players across the value chain to strengthen ICT infrastructure, fast-track the digitalisation of business processes and prepare to upskill the workforce for the new normal. Meanwhile, the versatility of the business process outsourcing industry during the quarantine period, alongside an expanding start-up ecosystem and the entry of a third telco in 2021, signals potential for the digital economy to enhance the post-pandemic recovery. Measures to accelerate digital development look set to improve the ease of doing business, create a more attractive destination for investment, and ultimately facilitate more inclusive and sustainable economic growth. This chapter contains interviews with Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs; and Simoun Ung, President and CEO, OmniPay.

Articles from this Chapter

Overview

Smart moves: A third service provider and renewed emphasis on bridging the digital gap readies the country for an economic rebound
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The Philippine authorities have worked to develop the digital economy in recent years, prioritising strengthened internet service provision and a more competitive telecoms market. This proved to be fruitful after the onset of the Covid-19 pandemic in early 2020, which saw an increased reliance on online services and digital technologies during the country’s extended lockdown period. The pandemic also added greater impetus for players across the value chain to strengthen ICT infrastructure,…

Interview

Future forward: Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs, on leveraging technology and narrowing the digitalisation gap
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Interview:Marc Carrel-Billiard To what extent did the change in human behaviour triggered by the Covid-19 pandemic disrupt the digital and cultural transformation of corporations? MARC CARREL-BILLIARD: Business as usual is no longer an option. The digital gap widened with the outbreak of Covid-19, and companies are having to accelerate to higher levels of digitalisation to serve different customer expectations, adapt to health challenges and pivot to new growth opportunities. One area where…

Analysis

Healthy prospects: Emerging business process outsourcing segments are positioned to offset a fall in demand for more established services
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Business process outsourcing (BPO) was disrupted by fluctuations in demand and restrictions on the mobility of workers during the early part of the Covid-19 pandemic, but there are signs that new engines of growth are emerging that could bode well for the longer-term development of the sector. BPO is frequently described as one of the two pillars of the Philippine economy, alongside remittances. As BPO revolves around international companies delegating operations to the local workforce,…

Analysis

Express lane: Traditional retailers shift online as e-commerce services expand in a socially distanced world
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In an effort to promote social distancing and restrict the movement of people during the Covid-19 pandemic, retailers selling hardware, clothing and electronics were mandated to close during the Philippines’ strictest lockdown phase. However, grocery and convenience stores, as well as delivery services, were deemed essential businesses and permitted to continue operations. This opened the door for e-commerce players to widen their market penetration and encouraged traditional retailers…

Interview

Vibrant shift: Simoun Ung, President and CEO, OmniPay, on the future of electronic payments and the digital economy
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Interview:Simoun Ung In what ways did Covid-19 measures alter consumer perceptions of cashless transactions, and to what extent will this fuel the digital economy? SIMOUN UNG: Covid-19-related lockdowns forced many consumers to transact electronically in order to limit physical interaction amid hygiene concerns over handling cash. Prior to the pandemic in 2019, the peso value of electronic transactions through PESON et and InstaPay was roughly on a par with that of ATM cash withdrawals. For…

Analysis

Diversified growth: South-east Asia’s super apps adapt to evolving consumer needs in light of the Covid-19 pandemic
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After years of exponential growth, South-east Asia’s super apps were forced to reassess their business models due to measures to contain Covid-19, with many refocusing their priorities as they plan for the post-pandemic world. In recent years super apps – online or mobile platforms that combine multiple services into one portal – have sought to expand their offerings. While many started with one core business such as online messaging, ride-hailing or digital payments, they have since…