India is regarded as the back office of the world owing mainly to its IT and ITES industry. The sector in India grew at a Compound Annual Growth rate (CAGR) of 15 per cent over 2010-15, which is 3-4 times higher than the global IT-ITES spend, and is estimated to expand at a CAGR of 9.5 per cent to US$ 300 bn by 2020. India is also the world’s largest sourcing destination for the information technology (IT) industry, accounting for approximately 67 per cent of the US$ 124-130 bn market.
Opportunities and Challenges:
The changing economic and business conditions, rapid technological innovation, proliferation of the internet and globalization are creating an increasingly competitive environment. The role of technology has evolved from supporting corporations to transforming them. Global companies are increasingly turning to offshore technology service providers in order to meet their need for high quality and cost competitive technology solutions.
We understand that being in the IT and ITES industry, your company can encounter a wide variety of risks and challenges in its endeavor to create and maintain a seamless, successful, sustainable and scalable business. Some of the challenges faced include:
- Ability to create and maintain a truly world class proven global delivery model which would allow your organization to provide services to customers on a best shore basis. This would require round the clock execution capabilities across multiple time zones, access to a large pool of highly skilled technology professionals and a knowledge management system to reuse solutions where appropriate
- Develop and expand a strong, comprehensive, best in class end to end solutions and service offerings in order help your clients gain market differentiation or competitive advantage and thus capture a greater share of your client’s technology budgets
- Ability to scale when the opportunity arises. This would require constant investment in infrastructure and rapidly recruit, train and deploy new professionals
- Manage revenue and expenses during economic downturn, enhance your organization’s capacity to withstand pricing pressures, commoditization of services and decreased utilization rates
- Manage exchange rate volatility and counter party risk in treasury operations
- Expand your client list across business verticals to reduce over dependency and risk of losing substantial market share
- Maintain superior and sophisticated project management methodology in line with global quality standards and ensure timely, consistent and accurate execution to achieve highest client satisfaction
- Ensuring successful integration of inorganic growth opportunities that your organization may undertake from time to time across geographies
How we can help:
Liaisoners is an independent liaison firm that offers effective, high-impact statutory compliance solutions to existing and emerging Technology Companies. We combine our huge network of relationships with deep industry knowledge and seasoned expertise to deliver customised government liaison solutions. We have worked extensively with clients across IT and communication verticals, helping them with regulatory approvals and permissions required to develop products / services specific to the times & the markets.
The Firm has been an active adviser to several multinational and domestic clients on establishing units in Software Technology Parks, business process outsourcing activities as well as on hiving off back office operations from the existing organizations, e-venture investments, documentation relating to technology transfer, licensing, software development and protection.
Some of the key services being offered to this industry include:
- Corporate advisory
- Internal and management audits
- Financial due diligence and structuring services
- Tax and regulatory services
- Enterprise risk management (ERM)
- Information system audits