IT firms to venture new markets

With traditional revenue streams drying up due to the global recession, companies now look to markets that were hardly on their radar

IT firms to venture new markets

With traditional revenue streams drying up due to the global recession, companies now look to markets that were hardly on their radar

The drying up of traditional revenue streams in the market due to global recession and economic slowdown, IT companies now look to markets that were hardly on their radar.
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Mansoft, an IT solutions provider and a subsidiary of the Doha-based Mannai Corporation, which was doing roaring business in the Middle East is now tapping markets in North Africa and South East Asia.

On the other hand, KPIT Cummins, a global IT consultancy firm, which had been focusing on select customers across North America, Europe, Japan and Rest of Asia is now reviewing their India strategy.

"In the wake of global recession, which has badly hit the real estate market and financial services in the Middle East, we are now exploring some other markets which we had not tapped earlier," said Mansoft Managing Director Atul Pradhan. Headquartered in Qatar, Mansoft has offices in Dubai, Bahrain, Mumbai and Pune.

The new markets include North Africa and South East Asia. "We are exploring North Africa because they have reasonably good money to spend. The sanctions there have been lifted. Indonesia and Malaysia are also good markets for our products," he added.

The Pune centre is engaged in back-end development, architecting and configuring of business solutions and supporting the delivery of business solutions and technology training to its team as well as clients.

Pradhan said the Dubai market has been badly affected and if the oil price remains below $50 per barrel, then the entire Middle East market will get affected.

The company provides property development and management solutions. It already has presence in segments such as BFI (banking, finance and insurance) and MRD (manufacturing, retail and distribution) in the Gulf.

According to Kishor Patil, CEO and Managing Director of KPIT, their strategy in India is to focus on auto semiconductor and industrial equipments. "The reason why the company wants to focus more in India is obvious, other countries are badly rattled by recession," he said.

"Indian IT & ITES sector being export-oriented has been obviously affected. We have aligned ourselves to the evolving needs of our customers in these rapidly changing times and are offering proactive propositions/innovative solutions to help them achieve their near-term business objectives," Patil added.