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Uncertainty and moderation of global economic activity characterised the year. While there has been policy reaction in some markets, changing direction of interest rates and currencies, there was a higher degree of uncertainty than at almost any time in recent memory, leaving the IT–BPM industry significantly impacted.
These economic whirlwinds have influenced budgetary tightening, translating to smaller deal sizes. However, counter intuitively, there is a clear delinking of overall IT–BPM spending with respect to economic turmoil in the past few years. Rising consumerisation of the enterprise segment, for the clients, has meant increased competition, and companies adopting new forms of services to create differentiation. It has also led to change management matters, and both these areas of new services and change management have been operative sources of business for IT–BPM firms. New areas such as social media, mobile, analytics and cloud are increasingly driving technology spending, and will emerge as main stays as this decade progresses.
The industry today is at a crossroad with the first USD 100 billion largely a labour arbitrage play; the next USD 100 billion will be a combination of higher value services and increasingly non–linear, combined with a transformed cost proposition. Today, the Indian IT–BPM industry has already begun moving from enterprise services to providing 'enterprising solutions'. These are not standard lift and shift solutions, but involve a high degree of proactiveness, maturity, business understanding and entrepreneurship. The Indian IT–BPM industry is leading the drive to design solutions incorporating SMAC (Social, Mobile, Analytics, Cloud) to offer innovative, enterprising answers. These enterprising solutions are able to create client impact on not only cost, but also revenues, profit margins and cash flows.
Zensar has renewed its emphasis on the core industry verticals of Manufacturing, Retail and Insurance; made investments in the emerging growth vertical of Healthcare, new technologies – social, mobility, analytics and cloud; integrated and consolidated the Infrastructure Management business; and made deeper inroads in emerging geographies of Asia Pac, Middle East and Africa, setting itself on a mission for the next phase of growth.
Enhanced customer focus through verticalisation, continued investment in innovation and non–linear areas, and focus on building value for the client through its services and solutions, position Zensar well to be one of the leaders of the industry in the years to come.