SRM Technologies CEO talks about what lies ahead for the industry

The barrier for mid-sized companies to grow beyond boundaries and scale is diminishing. Agility and competency are given more prominence in today's IT landscape, helping enterprises find more value in strategic partnerships. Anand Kashyap, CEO of SRM Technologies, shares some insights on what lies ahead for the industry and what to expect.

1. 2023 Global IT Investment Trends - What are companies aiming for?

We see a significant increase in digital investments towards improving customer experiences, operational efficiency and business resilience. Enterprises ready to take the plunge with thoughtful risks and calculated investments see this as an opportunity to grab higher market share than the leaders. They also look at adopting advanced technologies that are less complex but more sustainable to align with their IT infrastructure and long-term goals.

2. What challenges might impact the IT Industry in 2023?

While we see great potential in certain new areas and expect the industry to gain steady momentum, there are challenges like supply chain disruptions, skill shortages, inflation uncertainty and cyber threats that organizations have grown resilient to.

However, a deeper commitment by the leadership is essential to prepare for disruptions, focus on internal skill building, talent retention and adoption of evolving work models.

3. How are digital innovations propelling the growth of key industries today?

One of the key industries to benefit from a digital-first strategy would be consumer goods, as there is ample scope to deliver innovative and improved solutions to evolving customer expectations. There is greater reliance on data, automation, mobile innovation, AI/ML and AR to sharpen marketing, sales, and operational decision-making.
Similarly, the automotive sector is already witnessing a significant transformation with smart mobility, electrification, automated and connected vehicle technologies. Traditional automakers are also adapting to the 'software on wheels' shift and depending on new technologies & architectures to deliver intelligent functionalities, smart convenience and cost-effective optimisations.

Organizations across sectors like healthcare, manufacturing and telecom are also keen to leverage more technology-driven transformations, but it demands them to be more agile, welcome cultural adoption and collaborate with the right strategic partners.

4. How is SRM Tech gearing up for growth in 2023?

Growing demand for a right-fit technology partner fuels our expansion plans, and the cost of acquiring top talent is also stabilizing. Customers today prefer partners who value the business, deliver results consistently and efficiently tackle impediments in a dynamic business environment. We are able to successfully cater to those demands with our continuous focus on multi-skilling & elevating talent, enabling inclusive decision-making and strengthening our differentiators to boost business performance in the coming year.

We also see our deal size consistently growing and achieving healthy margins. 90% of our programs are today run from nearshore or offshore, compared to a 70/30 ratio in the past.

Project models have become more agile and POD-based to leverage both specialized and multiple technology stacks.

We make conscious decisions above every partnership opportunity to ensure we are culturally aligned, driven by shared values and see mutual growth in the engagement.

SRM Tech is a global player providing next-generation technology, engineering and digital transformation services. They empower enterprises in the automotive, manufacturing and consumer sectors to shape their digital journey, modernize applications, enable data-driven decisions, build and deliver intelligent connected software solutions. To know more, visit their website at www.srmtech.com.