Every industry today is in a state of flux. Digital technologies have opened the playing field for new avenues to interact with customers, new channels to cater to their needs, and new platforms to get instant public feedback. This has also led to the emergence of new competitors some of who are currently playing on the fringes, while many others have already started making inroads into revenue streams of established players. Times are changing and the changes are happening at a fast pace. Consumers have already moved to digital, while many corporations are scrambling to catch up and stay relevant.

Changing IT Landscape

Given the changes around us, it is essential for IT services industry to evolve in order to keep pace with changing customer needs. The majority of the incremental IT spend by customers over the next few years will be on digital technologies.

What does this mean? Looking ahead, not only will the incremental spend on traditional technologies reduce, but funds from the current allocation will also have to be diverted towards digital technologies. IT services players need to quickly develop expertise in digital technologies to stay relevant to their clients.

More importantly, this means that IT services players like Syntel can no longer be just "problem solvers," but also need a great deal of expertise in helping customers solve the problems they have. Our clients increasingly look to us not only for implementation expertise, but also to help them understand the digital world better while helping them craft a relevant IT strategy. Today, customers ask how best to use social media, how to leverage mobile devices to streamline operations and create a revenue impact, and how best to utilize cloud to reduce operating costs.