COVID 19 had a ripple effect with its epicentre in china and reaching the corners of the world. The number of countries affected by COVID is much larger than any world event that has ever occurred.
Though the COVID cases are ever-increasing, The normal business is resumed; albeit with some precautions and guidelines.
Many businesses have faced losses, shutdowns and lucky one’s slow growth. It acted as a catalyst for digitalization of many businesses’ across the globe. It has presented the IT industry a plethora of growth opportunities.
Companies are adopting WFH models and automating their tasks. With the digitization, there comes a need for software automation, cloud infrastructure, database storage, security and flexible network.
India’s 181-billion-dollar IT industry which gets less than 10% of its revenue from India and 90% from across the globe will see its earnings climb.
One of the prime examples of growth seen in IT is the growth of TCS, the largest IT services provider of the world amid the pandemic.
IT people need to innovate and come up with new products to make the transition of these businesses into the digital world easier. With the rise in demand for IT services, there will be a surge in need of IT employees. It will open more avenues for IT developers and testers.
The shift from waterfall to agile work model:
Earlier IT industry had budgets and a time frame where software projects needed to be delivered. Clients only use to see the product after its complete development. This method is known as waterfall.
The project could be a success or a failure or a disappointment which could not meet the clients’ needs. With the fast pacing world and a changing technology every year, IT companies do not have the luxury to complete a project before presenting to the client.
They need to adopt agile work model. Earlier projects were a marathon which took place under a project manager for years. Nowadays, they are like a short sprint with no particular need for a manager, as it is divided into many parts and is worked upon with much more involvement of the client than earlier.
Now a client can guide and iterate the project from the start till the end under the agile model. IT companies need to restructure their working style to suit the current need of the post-pandemic world.
Disruption from technology-driven Indian startups:
India has become a hub of startup innovation. With the increasing demand for software and changing work cultures. IT sector need to be always in beta phase to meet their demands. Revamping the industry is the need of the hour.
Network and security:
Work from home is a reality which will stay long after passing of COVID. Data is under threat. For making it a success, the IT industry needs to ramp up its security services. Also, provide a network where employees can collaborate without a hindrance. How prepared are we for this kind of scenarios?
Online e-commerce has seen unprecedented growth after lifting of lockdown. IT industry has an opportunity with both B2B companies and B2C companies for driving sales for them. It is not long where virtual reality is material. A consumer can sit at home and take a look at the product in the store. They can also buy or sell a car or a bike in the same way. IT sector can enable that and much more if it builds up the infrastructure and the resources to make it happen.
IT and other industries have embraced the work from a home culture with open arms. It not only provided the employees to skip the commute and spend some extra time with family but also saved the companies.
They will continue to do so if companies switch to this model to save rent, utilities and other bills. Work from anywhere model though having lots of pros has its share of cons too.
The productivity of an employee cannot be measured when working from home. The blurring of the fine line between work and home for the employees is also an area of concern. All these areas will need new IT products and support for this model to become sustainable in the long term.
Maintaining a supply chain ecosystem without touch and feel:
With social distancing norms in place and people fearful meeting in person, human interactions have diminished. Many companies are going for complete automation of the areas where they can. Some areas still need human connection to function. Maintaining this supply chain ecosystem through video conferencing applications and software with better collaborative features also provides the IT industry opportunities for growth.
Database storage systems:
With all the automation, video conferencing and work from anywhere model in place, companies need data storage systems like Oracle where they can record every detail. These systems are already in use; they can see an increased demand post digitalization. Maintaining and storing these databases will be a growth area for IT.
WRITTEN BY: Shaker Pasha
Director at bTranz Technological Solutions Pvt Ltd
With over 15 years of expertise in Oracle products, Shaker Pasha has an edge over other IT Industry professional with comprehensive knowledge of Oracle Applications and other Oracle products and implementations.
If you would like to connect with Shaker: [email protected]