Are you wondering about the ICT trends in the Philippines in 2022 that are going to shape businesses’ future? Let’s take a look at them in this list.
The pandemic has driven changes in communities and businesses worldwide, and our country is no exception. Let’s look at the ICT trends in the Philippines in 2022 that may present new and unexplored opportunities.
ICT Trends in the Philippines You Need to Prepare For
1. Hybrid Work
The COVID-19 pandemic has threatened people’s health and safety, forcing organizations to adopt new ways of doing business. Today, organizations are implementing hybrid work models for a more consistent experience regardless of location.
Outcomes have become more important than hours put in. Interestingly, statistics reveal that 84% of Filipino workers want this flexible work setup to continue even after the pandemic, and it’s easy to see why.
Employees are able to recover productivity time, typically lost to traffic, commute, and other office distractions. For organizations, a hybrid workplace means cost savings as expenses, such as rent and utilities, are reduced.
However, while this is the case, companies will have to make the necessary investments in both hardware and software to allow for a hybrid workplace environment.
If you’re a business leader, the Work Trend Index suggests these five strategies to begin the shift to Hybrid Work:
- Develop a plan to empower your workforce for extreme flexibility
- Bridge the gap between physical and digital worlds by investing in space and technology
- Address digital fatigue from the top
- Rebuild social culture and capital and make it a priority
- Rethink employee experience to vie for the best talents
2. Digital Banking
More and more people are transacting through digital platforms as quarantine protocols remain in place. Statistics show that 44% of Filipinos used digital payments to settle bills, while 36% utilized them to pay for groceries.
Apart from payments, more and more Filipinos also embrace digital banking services. Additionally, they are more open to innovations that make payments and banking more convenient, accessible, and seamless, such as online and mobile banking. The fine line between these two services lies in the devices used to access them:
Online Banking. Otherwise called internet banking or e-banking, online banking is a financial transaction performed over the internet. You can make a transaction through the bank’s website using a computer or laptop.
Mobile Banking. On the other hand, mobile banking allows customers to transact with online services through a mobile app. You can perform transactions using a tablet or smartphone.
Digital banking is a rising trend in the industry, which is slightly different from online and mobile banking in terms of online operations. It is designed to replace a bank’s traditional, physical branch with a full online presence and automated financial services.
In 2020, the Bangko Sentral ng Pilipinas or BSP introduced the “digital bank” category to bring more people to the virtual financial system. The central bank seeks to have 70% of Filipino adults open an account at a formal financial institution by 2023.
Recently, BSP granted licenses to two more digital banks, Tonik Digital Bank and UNObank. Here’s a list of digital banks in the Philippines that you can open virtually:
Branchless digital banks:
Tonik Digital Bank
Digital banks with physical branches:
Diskartech by RCBC
Komo by Eastwest
HelloMoney by AUB
iSave by Maybank
OFBank by Landbank
3. Hyperlocal Market
According to a McKinsey study, brand loyalty dipped to an all-time low due to the unstable availability of some products and services. About 80% of consumers are now willing to try and switch to other brands.
Due to the pandemic, consumers have learned to patronize goods and services and interact with small businesses within their local communities. The three must-haves for Hyperlocal Market include fast delivery, omnichannel experience, and real-time ordering architecture.
Meanwhile, the technology enablers for Hyperlocal Markets, one of the ICT trends in the Philippines in 2022, include the following:
Digital banking. Pre-pandemic, more Filipinos preferred “kaliwaan” or cash-on-delivery (COD) payments when ordering online. The hyperlocal market saw a shift to mobile and online transfers as the preferred mode of payment.
eCommerce platforms. Starting up a pop-up business has never been easier with the rise of eCommerce platforms, which offer ease of use and flexibility in pricing.
Logistics apps. Reliable logistics services allow small businesses to be accessible.
Social media. Hyperlocal marketplaces typically start within these community pages and group chats on social media.
4. E-governance Solutions
Governments should consider boosting data sovereignty and protection in their e-governance solutions. This is to ensure the efficiency and security of their services amid the increasing use of online applications.
E-governance solutions refer to the use of ICT and its application by the government to provide information and public services to the people. To create an enabling environment for e-governance, these four pillars must be well-established: process, people, technology, and resources.
The ultimate goal of e-governance is to offer an enhanced portfolio of public services to citizens efficiently and cost-effectively.
Five important models of e-governance have been identified. The following can be used for guidance in designing e-government initiatives depending on the local situation and governance activities that are seen to be performed:
- Broadcasting models
- Critical flow models
- Comparative analysis model
- E-advocacy model
- Interactive service model
Nongame environments, like websites, online communities, and learning management systems incorporate gamification to increase participation and engagement among consumers, employees, and partners.
According to Forbes, 80% of smartphone users play mobile games on their devices, and 50% play games every day. In the workplace, business leaders can incorporate gamification, too.
Gamification in the workplace focuses on the mechanics of how gaming works. This helps create a simple way for employees to view their progress and build continued engagement within the organization.
Here are six gamification strategy tips for your business:
Consider your audience. The first essential step is to identify your audience for this program. Make sure that your gamification program is appropriate for your workforce and isn’t going to be a one-and-done thing.
Don’t focus on rewards. Flashy rewards are difficult to sustain in the long term and sometimes push people to do inappropriate things just to win. Create a gamification program that’s centered around the competition itself and not on the rewards.
Communicate the rules. Let everyone know about the game rules to understand how it works, its goals, and how to succeed. Having transparent and fair rules will help encourage people to participate.
Celebrate all participants. Reward all participants and not just the top performers. You’ll likely see a dip in engagement if they feel their participation isn’t valued.
Be creative with rewards. Material rewards sound exciting, but the best prize in a corporate setting competition is professional recognition and advancement. A LinkedIn recommendation from a Vice President is a good example.
Track and report. What gets measured gets managed. Make sure all participants know where they stand so that they can improve. Leaders will also know whether the program is driving the business goals if it’s tracked.
The COVID-19 pandemic underscored the fact that nothing is guaranteed. Things and circumstances continuously evolve, and to survive, you need to plan and pivot accordingly.
These top five ICT trends in the Philippines in 2022 give you a peek into what you can expect in the near future. You can use this as a guide in mapping out your new strategies and plans to future-proof your organization.
Are you looking to partner with a top IT solutions company to drive innovative changes within your organization? We’re here to help!