India¡¯s IT/ITeS sector have been on an upward trend in the last couple of years. This is despite adverse geopolitics and market factors. In 2022-23, the sector logged a record growth and is expected to touch $245bn, adding $19bn in revenues over the previous year. IDC estimates that some of the sub-sectors will grow at a CAGR of 8-9% between 2022-26.
Because the IT sector exports a major share of its services to global clients, cost-cutting measures from businesses in other countries have created more growth opportunities for the industry. Many have grown their clientele by signing new contracts, and top firms have continued to hire amidst layoffs in the technology sector.
With sound business fundamentals, the IT sector is headed towards another strong year ¨C but it won¡¯t be smooth sailing by any means. Let¡¯s look at the top five trends that are bound to cause profound shifts in the industry.
One of the biggest transitions in the IT/ITeS business model is a shift in customer expectations. Today, IT/ITeS customers are no longer looking for isolated services, but end-to-end solutions. They now see IT/ITeS companies as their partners, enabling them to overcome business challenges and streamlining operations, instead of just providing a specific service.
In other words, advisory, consulting, compliance, security, and ongoing management now fall under the purview of IT/ ITeS offerings. In response, leading IT/ITeS businesses are building solution offerings as a part of their portfolio, and the rest of the industry is set to follow them, owing to their success in the international markets.
Both offshore client organisations and IT/ITeS companies have adopted hybrid work models over the last few years. As Indian IT/ITeS companies onboard more offshore clients, they require improved collaboration capabilities. These capabilities should enable both synchronous (video calls, audio calls, chats) and asynchronous communication (emails, message boards, forums), and empower teams to seamlessly collaborate across multiple time zones.
These capabilities must be smart and innovative because IT/ITeS companies are now delivering critical capabilities to their clients, including cloud/application-managed services, service desk operations, helpdesk capabilities, and more.? Uninterrupted secured connectivity and high-SLA networking solutions will be the foundation on which these collaboration capabilities will run.
IT/ ITeS businesses now operate in a cloud-first world. In addition to their assets and workflows, those of their clients will also be on the cloud. Leading companies in the industry are already shifting their vital infrastructure to cloud. By integrating critical service delivery tools for employees in a single environment, they are building future-ready platforms for the delivery of their services.
While this will make it easier for employees to do more with a lower cognitive load, it will also require IT/ITeS organisations to adopt robust technologies to enable platform-driven delivery.?
With rapid technology adoption, and digitally driven delivery, internal networks of IT/ITeS companies will gain unprecedented complexity. This will have a considerable impact on both their manageability and their ability to secure them.
Adopting network services that are easy to scale, manage, and secure, will become a strategic differentiator which will go a long way to reduce the operational burden of IT/ITeS businesses. Network solutions that offer management capabilities and are secure by design will become a necessity for all.
IT/ITeS companies deal with sensitive client data ¨C which, if compromised, can lead to serious repercussions. As clients and employees operate from multiple locations ¨C spanning homes and offices, point security and firewalls just won¡¯t be enough.
To put things into perspective, over 829 million cyber-attacks were blocked during the fourth quarter (Q4) of the calendar year 2022, globally, of which 59 percent of the websites were from India.
So, IT/ITeS companies will have to lead the charge in terms of bolstering security at all layers. From application-level security to network security, each piece will play a key role in reducing the risk of exposing confidential data. Finally, the growing adoption of data technologies will also bring a newfound focus on data security.?
It is no secret that the IT/ITeS industry is undergoing a rapid shift. In India, the industry has outperformed itself despite challenging business environment, and market analysts are optimistic that this trend will persist. A part of this reason is the growing importance of digital across industries, and the explosion of digital adoption as a result.
This also calls for the Indian IT/ITeS companies to always stay up to date with smart tech solutions. New players are popping up in competing markets, and digital adoption will be a key differentiator in leading the pack. In such a scenario it becomes imperative for businesses to drive digital innovation to modernise their operations and stay relevant. Investing in critical capabilities like networking, collaboration, and security will be the key determinants of market success in the coming years.
To keep your business on track with the current pace of digital transformation, you need a partner who can help you tap into your existing potential and make you future-ready. This is where Tata Tele Business Services, which is counted among the country¡¯s leaders in smart digital solutions, come in.?
TTBS? not only provides the digital highways on which companies, big and small, run their businesses but also act as the technology catalyst for their growth by offering a comprehensive portfolio of Digital Solutions in the domain of Security, Collaboration, Marketing, Cloud & SaaS.?
TTBS can help IT/ITeS businesses leverage the scalability and flexibility of the cloud with solutions like:
Smartflo: A comprehensive and omni-channel cloud communication suite
Infrastructure as Service (IaaS): Superior cloud infrastructure solutions to help accelerate innovation and growth
Collaboration Solutions: Google Workspace, Microsoft 365 and Zoom
These solutions help enterprises scale their customer and workforce experience multifold through smoother collaboration among employees, partners, and customers, thereby driving growth.
TTBS also has a comprehensive security portfolio which can mitigate and provide protection from cyber threats. The solutions include Email, Web, and Endpoint Security along with Multi-Factor Authentication and Virtual Firewall.
TTBS always aims to approach businesses as partners, technology enablers and subject matter experts to help bring them on par with the fast-evolving tech landscape. Their objective is to provide a comprehensive suite of right enabling smart tech products and solutions that allow businesses to grow, be resilient and maintain business continuity in a flexible, scalable, and secure manner. Having a deep understanding of customers¡¯ needs, they deliver customer delight across the value chain with innovative bespoke solutions and customer centricity. Here¡¯s what some of the customers have to say¡
Manish Khiwal, VP of Mist IT Services says, ¡°To keep up with the changing trends in the BPO industry, we needed a cloud-based contact centre. Smartflo gave us multiple features for call management in a single interface. A hybrid work model enhanced productivity, and better uptime are all achievable now.¡±
Sudhir Kumar, AVP of Globiva Services says, ¡°Whenever we think of a service and solution provider, the only name that comes to mind is TTBS because it is one of the best we have in the market today. Timelines are critical in our BPO organisation and TTBS provides solutions with zero downtime, quality delivery, and reliable support.¡±
These are just a few testimonials from IT/ITeS businesses that have become digitally agile by deploying TTBS smart tech solutions. By partnering with TTBS, they have been able to improve their operations, enhance customer experiences, and stay ahead of the competition in the digital era. So, it¡¯s time for you to join them too and tap into the future being digitally savvy!