Business Daily from THE HINDU group of publications
Monday, Jan 19, 2009
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Business Daily from THE HINDU group of publications Monday, Jan 19, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Outlook
L.N. Revathy Coimbatore, Jan. 18 ITC Infotech’s revenue mix was focused on Europe (including UK and continental Europe). “One-third is from the US and the rest from India,” the Managing Director of ITC Infotech, Mr Sanjiv Puri, said. The company managed to double its turnover and expand its customer base significantly, till recently. “Even during the first half of the current fiscal, we grew at 60 per cent compared with the corresponding period of the earlier year, and added more customers as well. But the second-half has not seen the buoyancy as the earlier six months.” According to Mr Puri, the industry is facing a period of slow growth. “I believe it is a short-term phenomenon. Investments in IT will continue”. “We are experiencing this lull because of cost pressure and the global economic environment. Companies are reviewing their IT investment/budget and IT business and the on-going support cost,” he said. “The focus on IT support systems would slow down, but we see buoyancy in offshoring,” he added. Stating that the current needs of the organisations have changed, he said, “fresh investments that people should focus on could be price optimisation, risk management, corporate governance, open source and software as a service model, among others.” To a question on how ITC Infotech was coping with the present, he said, “we have developed a solution that focuses around off-shore support, ‘an accelerated offshore kit’, offering value-added service to our clients, and domain expertise.” He said 2009 would be a tough year for the industry. “While there is a need to reduce cost and optimise offshore activities and growth, it is not going to be easy. We will have to wait and watch. It certainly is a period of slow growth,” he said. More Stories on : Outlook | I T C Ltd | Software
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