The past couple of months have been quite eventful for Indian IT companies and their workforce. A lot of news items about mass retrenchments by major players have been floating around. Some are of genuine concern and others simply rumors. The truth is that these companies just did not want to see what was coming. They had the advantage of seeing giants in other industries struggle with their traditional businesses – Kodak, Barns & Noble, Nokia, Blackberry to name a few. Despite this, they continued the exact same business model of outsourcing software development work and providing skilled resources to their clients for almost 30 years. During this time, others were building tools that helped some software developers do their work much quicker and even replace others. Suddenly, they found that the demand for their traditional resources has dropped and they needed differently skilled resources to create software programs using the available tools. And that too in much lesser numbers to achieve the same tasks. This problem has been exasperated by the tougher visa norms in the USA which was by far their single largest market. There will be winners that emerge stronger from this. One can only hope their numbers are more than the losers!
Today, we are at a stage where no business can be complacent. The digital world is ruthless and unforgiving. It is extremely easy to be left behind. At Galaxy, we will be happy to guide you through the process of digital transformation and ideate with you to plan this journey. Please reach out to our team for any assistance.