IT Outsourcing during Recession Time

IT outsourcing providers are likely to grow their business in the economic slowdown, researchers have claimed. Analysis of US Department of Commerce data by Forrester Research found that the IT budgets of North American and European businesses are expected to increase by three per cent. Chief information officers are expected to focus on improving efficiency and helping to cut costs by increasing productivity, the report said.

"Sellers of communications equipment, software, and IT consulting and outsourcing services will see one or two quarters of declining revenues, but on average will still grow modestly in 2009," said Andrew Bartels, vice president at Forrester.

IT outsourcing firms are predicted to benefit from companies looking to reduce costs. "Whenever there's a downturn people outsource more, not less," says Gartner analyst Linda Cohen. "Organizations want to take costs out wherever they can. CFOs are pounding on their CIOs to just outsource it, just offshore it."

Source: ihotdesk

Read more...

New Jersey's Fastest Growing Firms

NJBIZ, state's weekly business journal, recently announced the fifty fastest growing companies. Companies were ranked based upon both dollar growth and percentage growth in revenues from 2005 through 2007.

EPAM Systems, Inc., an IT outsourcing leader with subs in Central and Eastern Europe, was ranked 5th on this year’s list. Founded and headquartered in Lawrenceville, EPAM made the New Jersey's Finest list for the 3rd consecutive year, showing sustainable business growth.

"We are proud to be among the winners of this prestigious award. EPAM's technology expertise and global presence that help companies outsource critical IT needs in a timely and cost-effective manner — in our case, worldwide — have served us, and our clients, well. Congratulations to all the winners! We are committed to continue bringing value to our clients, while growing EPAM Systems in this difficult business environment," stated Arkadiy Dobkin, EPAM President and CEO.

Source: epam.com

Read more...

Innovation and Growth: The Software 500

Innovations drive the software industry which has once again been proved by The Software 500, a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing. This year The Software 500 saw more than 100 new companies on the list for the first time, and the public/private company breakdown is 58% public and 42% private.

According to the results of the survey, the software industry continues to grow in total revenue, representing growth of 14.7% from the previous year ($451.8 billion in 2008 compared to $394 billion in 2007), while the total employee growth rate of 1.3% shows modest increase in comparison with 2007.

EPAM is proud to be named on the list (having advanced to the 190th place) along with 29 of its ISV clients, ranging from promising start-ups to global software leaders including three of the Top 10 honorees.

"We would like to congratulate our 29 ISV clients who made this year’s list. We extend our thanks for the opportunity we have enjoyed to grow together and to leverage each other’s strengths," commented Arkadiy Dobkin, EPAM’s President and CEO, noting: "We are also confident that many of our younger, but nevertheless innovative and fast growing clients will make the list in coming years."

Source: Softwaremag.com

Read more...

Russian IT and Outsourcing Industry to Keep Growing

According to “Russia IT and Outsourcing Industry Forecast to 2011”, a new research report by RNCOS, the Russian IT & outsourcing market has been growing at a rate of more than 20% since the past few years. Software spending has reported high growth rates; furthermore, it’s believed that it will continue to lead the growth patterns in the IT industry during 2008 to 2012.

The Russian software and services market will be mainly driven by the country's emergence as an IT Outsourcing (ITO) centre, thanks to its close proximity with Europe, similar time zone, and availability of high quality workforce at a competitive cost. The ITO market is undergoing phased transformation and is progressive from nascent stage to the development stage. Investments are also being phased in from both the government and private sector. The Russian government is increasing its IT investments in order to expand and develop the IT infrastructure in the country. Private sector investments are concentrated into opening of new software development centers in the country and also towards the expansion of the existing software development centers.

Source: RESEARCH AND MARKETS

Read more...