The IT and Telecom industry has proven to be very turbulent. A period of explosive growth, in the nineties, has been followed by recession and consolidation in the industry, leading to a smaller number of truly global players.
The last few years the industry has revitalised. The growth was initially in Europe and North America, now there is a shift towards emerging markets. Companies from India which have demonstrated aggressive growth due to outsourcing from North America and Europe are now entering those markets directly.
Convergence
Borders between the IT, telecom and media sectors are fading and these three industries are gradually converging into one huge industry sector. For companies in the IT & telecom industries, convergence is opening doors to a set of completely new opportunities.
On the other side, this makes for a market where the only constant is change. Organisations are struggling with finding their place in an increasingly complex value chain. More global and “cross industry competition” in the communication market, including new devices which have alternative uses beyond phone calls, leads to a necessity of flexibility and efficient processes to decrease time to market.
Global market - global business
In the IT & telecom market, the competitors are truly global players, with all the challenges this entitles. It is a fierce market where you have to strive towards effectiveness in all parts of running your business. There is a constant pressure to be innovative and renew products and product lines according to the latest market trends.
At the same time as new products are being developed and launched, demands for cutting costs and expenses have to be met. In order to meet the challenges leading to changes and survive in this tough market, it is crucial to have a well functioning and flexible management system, directly linked to the corporate governance structure.
Consumer awareness
Continued trend in outsourcing changes the face of system integrators and ICT service providers. In order to meet customer expectations, they will need to offer outsourcing and BPO solutions at an increasing scale. This commands more mature internal management structure and working processes, and a further increase of capabilities of personnel.
Demands and expectations for corporate responsibility have increased. Sustainable performance and operational excellence have today become pre-requisites to stay in business for the long run.
Read on to learn how DNV might serve you and why you should choose DNV as a partner.