We specialize in developing Technical White Papers and Business Strategy Papers. Given below is the Executive Summary of our Strategy Paper on Expansion of Indian IT companies
EXECUTIVE SUMMARY
The Indian IT-ITES industry has shown phenomenal growth and has accumulated immense wealth for the nation in a relatively brief span of time. As Indian IT firms expand their global operations, they have to be aware that any strategy that simply focuses on cost arbitrage will not be able to provide sustainable growth in the long run. It needs to focus itself by moving up the value chain, designing products, developing consulting competencies and becoming a full service provider and can also go into specialized niche areas.
The Road Map Proposed
The scope for growth is immense in the technology market and Indian IT firms are in a unique position to take advantage. Already many Indian IT firms have achieved critical mass and need to redefine themselves so as to become global players. Among the primary focus areas that Indian IT firms must concentrate is the IT product market. Indian companies need to make customized products that have appeal and also brand themselves. IT consultancy should be a core thrust area. Already many Indian companies are working towards it and the effort needs to be advanced. Indian IT firms should try to integrate IT and BPO offerings so as to provide end to end solutions for their clients. They need to also tackle issues like business process continuity and imbibe quality of strategic accountability. Certain sectors and emerging markets need to be given priority. Domain expertise in Oil and Natural gas, BFSI sector and Telecom is essential and companies should actively try to create a talent pool. In addition Indian firms should look towards developing multilingual capabilities so as to effectively serve fast growing Technological Markets like Brazil, Asia Pacific and China. Mergers and Acquisitions should actively be considered. Indian companies should seriously look towards Inorganic growth as many of the large IT firms have sufficient funds to take this route. In additions wherever possible Indian IT firms can collaborate and go in for joint bidding especially while trying to secure overseas government contracts.
Key Lessons
Indian IT firms should understand that a mixture of strategy and dynamic relationship building is needed for global expansion. A number of transnational technological markets are quite unique and has their own challenges which are myriad and intricate in nature.
The Western Europe, Middle East (oil industry) and Asia Pacific outsourcing markets are expected to provide newer opportunities and experience rapid growth over the next few years. With customization being the new buzzword in the industry preference for such IT products is growing as compared to COTS software.
Quality
is not an act.
It is a
habit- Aristotle