Banking, IT sectors drive ManageEngine’s Philippine revenues

THE PHILIPPINES is the third largest source of revenues for information technology (IT) management provider ManageEngine in the Southeast Asian region, driven by the banking and IT sectors, its regional director said.

ManageEngine Regional Director Arun Kumar told a media briefing on Wednesday that the Philippines contributes 15% of its revenues in the Association of Southeast Asian Nations, only behind Singapore and Indonesia, which together account for 50% of revenues.

In the Philippines, sectors that drive revenues for ManageEngine include IT, IT-enabled services, business process outsourcing, government, healthcare, and education.

Philippine firms have been beefing up their digitalization efforts to protect themselves against cyberattacks.

A 2022 report by independent risk advisory firm Kroll said that three in four Philippine firms have dealt with a cyberattack.

ManageEngine’s revenues in the Philippines have been growing by around 20% to 25% in the last three to four years, Mr. Kumar said.

“We are very confident we will even grow on the higher side in the coming years,” he told BusinessWorld after the briefing.

The expected increase in ManageEngine’s revenues from the Philippine market is driven by unified product offerings for enterprises on IT management and IT security, Mr. Kumar said.

The company expects to gain more customers from mid and large enterprises.

“Our local investments in terms of hiring people locally in the Philippines will definitely add more value to us,” Mr. Kumar said. — Beatriz Marie D. Cruz