While world leaders discuss the larger issues impacting the earth, as a Sourcing Advisory consultant I am left to speculate what is going to happen in the IT Industry.
In Davos, the one common view observed was that 2009 is going to be a terrible year. An equally worrying aspect though is that the impact might well spill over to 2010 and 2011. And this is where I wonder what the biggest world leaders think of IT as an industry and its future. Will technology reinvent itself and hold the key to reviving the world economics?
Davos 2009 has strengthen the belief I expressed in my previous post that “Innovation” is going to be the key for the IT industry hereon. IT budgets are frozen world over and so when the economy reopens, budgets for IT expenditures would be extremely limited. Every penny spent will be accounted for and questioned. Thus IT will necessarily reinvent itself ensuring rate of return is justified in the larger framework of “higher value driven” expenditure policies.
Some facts that in my views hold the key are:
- The exponential growth of networks and internet
- Aspiring and demanding new generation of internet users and spenders
- Rising demand and availability of real time information feeds
- Capital available with large number of PEs, willing to bet on brighter ideas
- Green technologies taking center stage across industries
As an India based Sourcing Advisory, we are keeping a sharp eye on every economic move that impacts global enterprises and their engagements with IT as a whole; especially in India.
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