IT Industry post lockdown
India’s $180-billion IT sector has a heavy dependence on business from the US and Europe – making its fortunes integrally linked with the performance of these international markets. As top clients from these regions reduce their IT spending in the wake of the COVID-19 outbreak, Indian IT companies should leverage their core value proposition and restructure their existing offerings at competitive pricepoints.
This will help players to survive in the short term – while preparing them to capitalize on the digital opportunity that will come knocking at their doors once the world goes digital. Developing the core IT infrastructure and new-age capabilities, therefore, will become a priority for IT companies as they navigate the current choppy waters with speed, skill, and agility. The growth isn’t limited to just these sectors and will surely extend itself into many avenues of the Indian economy. As the economy slowly starts juggling back to normalcy after lockdown lifts, it would be interesting to see how these transformations play out for the existing infrastructure and larger community.
The COVID-19 pandemic is likely forcing changes to your everyday life. The same is true for businesses of all stripes, who have had to adjust on the fly as restrictions are put into place to slow the spread of the outbreak.
There is one industry, however, that hasn’t slowed down due to the pandemic. It’s the global IT industry, which has shifted into high gear to accommodate the sudden demand for remote working and collaboration solutions as the majority of businesses have gone digital-only.
The change has been so sudden and dramatic that it’s calling into question how (or even if) businesses will ever go back to the way they previously operated. The only thing that seems certain, though, is that the IT industry will be profoundly changed by the crisis. It’s forcing a wholesale rethinking of what it’s going to take to accommodate business technology needs as we move forward from the current situation.
For a long time, IT professionals and IT service providers have made sure to conduct regular stress testing of business systems deemed critical to daily operations. Still, it’s a safe bet that the majority of VPN systems and remote access solutions were never a part of those tests.
Before the coronavirus crisis, global businesses had been gradually shifting computing workloads from on-premises hardware into the cloud. Needless to say, that has hampered the ability of many organizations to reallocate resources to support workers who are not forced to work outside of their offices.
It shouldn’t take long after businesses start getting back to normal to see many accelerating their plans to move additional workloads to the cloud. It’s the smartest way for them to gain the flexibility needed to handle any eventuality, as well as to decrease technology-operating expenses going forward.
For most enterprises, having redundant technology solutions has always been a core operating principle to maintain business continuity. For that reason, network load balancing and standby systems are common in large network deployments.
After the coronavirus crisis passes, more businesses will rush to adopt standardized IT solutions to support flexible technology initiatives. Instead of spending their IT budgets on company-owned devices, they’ll start spending it on a management infrastructure to enforce company technology policy on employee devices instead.
Recent advances in artificial intelligence and robotic process automation have slowly started to work their way into businesses around the world. In many cases, the first exposure that companies have had to the technology has been in the form of marketing automation software. Larger organizations have even started the process of automating routine day-to-day tasks wherever possible.
In a post-coronavirus environment, it’s almost a certainty that businesses will begin adopting automation wherever it is currently possible and will continue to invest in such technologies going forward. They’ll do so because it’s the surest way to minimize future business disruptions like the one they’re dealing with now.
Covid-19 may have shown a narrow curve fall sometime later in 2020 in the IT but 2021 promises more growth opportunities as digital spends go up to tackle the challenges amid the ‘new normal’. Rapid rise in corona cases at the beginning of the year led to governments enforcing lockdowns in various countries. This posed twin challenges for IT firms how to ensure business continuity for customers and how to ensure safety of their own staff.
2020 has been a year of a lot of change and uncertainty but technology is no more being seen as just an enabler, it has become much more integral. Industry experts said the pandemic has given digital transformation an acceleration that would have taken years to achieve. And IT companies are now making a bigger push for their digital offerings as technology gets ingrained across sales, customer service and operations.
With the pandemic continuing and vaccines started to be available, most of the Companies are still continuing work from home and is expected to become a key part of the corporate strategy.