In a digital era where technologies like AI, IoT, and Hyper automation are rapidly growing in ability and adoption, businesses must adapt to remain competitive in the marketplace. For mid-sized firms, the pressure on them is more acute – they may be innovative, but they find more difficulty in finding a competent technology partner who respects their size and budget limitations. The big and established firms prefer to work with larger firms as well as announce a multi-billion-dollar IT deal to the press to support the growth of their stock price. Many mid-sized firms are of the opinion that when they work with larger firms, they don’t get the best resources available as they are dedicated to large clients. However, to maintain their market share, mid-sized firms need to get their IT solutions up to date.
In a fast-changing world, the advent of new technologies like AI and IoT has further accelerated changes in the business environment. In a digital era, businesses especially mid-sized businesses must constantly strive to adapt to the latest technologies. Technology trends are rapidly changing the technology adoption curve is getting steeper.
Due to all these changes, customers’ expectations are rising higher about latest technology usage by businesses. This could potentially affect the business environment for many mid-sized businesses and put them in a vulnerable competitive situation. There is a risk of competitors getting ahead by adopting new technology to gain market share. There is also an advantage in growing in the market by smartly adopting the new technology. Either way, it has the potential to significantly affect the competitive position.
IT outsourcing has evolved much over the decades and from simple tasks it is able to automate many complex tasks. Earlier there were a small number of technologies and providers. This has rapidly changed, and the choices have multiplied manifolds. This adds both challenges and opportunities. Challenges in terms of assessing the various choices and opportunities in terms of making a big change in the business process and service delivery to the client – which can grow their market share. Overall, IT outsourcing has tremendous potential for being a strategic growth enabler, especially for mid-sized businesses.
The Rise of IoT, Product Engineering, and AI in Outsourcing
For many mid-sized firms, the rise of new technology abilities in the areas of IoT, product engineering, and AI offers both opportunities and risks to their competitive strength. An outsourcing partner suitable for mid-sized firms who can support IoT and embedded systems, product engineering, and AI capabilities can be a great strategic advantage. These technology capabilities are not only helpful for mid-sized companies building smart devices, SaaS platforms, and customized enterprise tools but also for other types of companies as well.
There are many specific benefits from IT outsourcing for futureproofing including
Choosing the right IT outsourcing partner is a very important decision and key to future-proofing the mid-sized business. Cities like Bangalore, Hyderabad, and even Chennai are known hubs for outsourcing. Choosing a suitable partner from emerging hubs from tier-2 cities like Kochi offers exceptional quality, lower turnover, and competitive rates. Such IT sourcing partners may also value your business better. For all these reasons, it is important to choose the right IT outsourcing partner.
