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October - 2012 - issue > CEO Spotlight
The Key to Success in IT Consulting
Amar Panchal
Co-founder & CEO- Akraya Inc
Monday, October 1, 2012
Headquartered in Sunnyvale, California, Akraya (www.akraya.com) provides IT, engineering, creative & marketing consulting and managed solutions services to Fortune 500 enterprises in the US, Canada, India and Singapore. The firm is one the largest privately-owned companies in Silicon Valley, one of the fastest-growing woman-owned businesses in the U.S., and the #1 Best Place to Work in the Bay Area in 2012. Akraya’s motto is “Trusted Talent” and the company’s mission is to stay a trusted and preferred consulting partner to its clients and an employer of choice to its consultants.

In today’s world of contingent talent management, there is a distinct new trend emerging. As a leading IT consulting firm in Silicon Valley, Akraya is experiencing a shift in how leading enterprises treat and manage their contingent workforce first-hand. Indeed, while earlier big companies were less selective when utilizing a supply chain of outside vendors to fulfill temporary workforce requirements, nowadays the importance of IT talent suppliers seemed to have changed drastically. Fortune 100 giants have started looking at their temporary workforce as an integral part of their strategic plan and have changed their approach in managing and maintaining their contingent workers. In the fast-paced technology industry, staffing breakthrough innovative projects quickly and efficiently can make or break the fiscal year for any Silicon Valley giant. Best-of-breed consultants are highly sought-after, and thus, reliable workforce suppliers became an important part of large enterprises’ supply chain management. In fact, investing in top-notch suppliers that understand the technical aspects of a requirement and are able to partner with the client team to quickly and efficiently fill roles was never more important than today. So what makes an IT consulting firm a preferred supplier choice for a Fortune 100 company? Here are a couple success factors that helped Akraya stand out from the crowd.

Serving Clients Globally

One important aspect that large enterprises are looking for when selecting preferred suppliers is the supplier’s ability to work with them across different regions of the globe. However, finding technology consulting firms that can deliver consistent good results on different continents can be tricky. The IT consulting industry is highly fragmented; while there is no shortage in micro-sized staffing agencies fighting for business, there are fewer of the mid-sized consulting firms and global consulting behemoths that can successfully service clients globally. Thus, if you can set up a business model that enables you to broaden your relationships by supporting existing clients in different countries, you will definitely be in an advantageous position compared to some of your competitors.

Find your In-demand Niche Skills

Another important success factor for an IT consulting firm is to find an in-demand niche area to serve. It is safe to say that the technology industry is moving towards the cloud infrastructure model. Thus, for consulting firms focusing on finding talent in this growing niche area, cloud infrastructure can be the ticket to the next level.

Be a Great Place to Work

While many factors contribute to a success of a consulting firm, none is more important than the quality of talent they attract. At Akraya, we worked hard over the last several years to build a brand and work culture that makes us the employer of choice for quality talent. We do this by focusing on 3 key elements in our employee retention programs: Compensation, Recognition and Growth. With these 3 key cornerstones, we were able to build a close-knit company with a very low attrition rate (5percent).

Reinvent Yourself and be nimble

Just like in any industry, innovation and reinvention are also important in technology consulting. Due to constant changes in the economy, technology market and supply, it is important that an IT consulting firm reinvents itself every two years. An ability to adapt to the changing market and a broad-minded positive attitude along with strong work ethics can help enable the success of any consulting firm. It definitely helped Akraya get to where it is today.
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