U.S. Still a Tough Turf for Mid sized Players
Date: Thursday , March 31, 2011
The IT services industry, as we all know, was badly hit by the recent financial recession and is currently in the recovery phase. It was the mid sized companies, who heavily depended on the U.S. market, suffered the maximum impact of the recession. Non-payment, bankruptcy, inability of acquisition of new accounts is some of the prime issues that still continue to haunt the mid sized players.
In order to attain a speedy recovery, we at Globsyn moved our focus towards the domestic market and have managed to outrun the recession. We also shifted our operations to Malaysia and have even opened up a new office in Singapore there is very good demand for IT services in these markets; from consulting practices to implementation of SAP and ERP. That is an area in which we are also offering our services and have grown a lot. Also focusing in new sectors and markets helped us stay balanced when the U.S. was in the grip of the recession. But I see the market turning around to normalcy in the U.S. by the first quarter of 2012.
Earlier the approach towards off shoring was narrow, but now it has become more diversified and multilayered. Even people are coming from a very vast set of specializations, while the requirement is getting much more narrow and focused. Fundamentally India is an off shore country where we need to do services from start to end, and when we do this, technology is not the whole part. There are methodologies, software engineering elements, project management elements, and several other elements that are getting refined and developed every three months, so for the last 18 months the main focuses of the companies are to keep up with this. This is a major trend in the industry now. Still, getting the right person for the right job remains the main challenge. This is a problem we are continuing to address.
The most fundamental thing about being an entrepreneur is that you should be addressing an unaddressed problem or gap in the society. And if this identifies with your passion, your chance for success will multiply by many times. If that gap is not there then it will be a tough job as you will be fighting with too many people. On a more philosophical level I believe, “You become an entrepreneur because you believe there is more to life.”