QuEST Global Enhances Deep Learning Solutions with Intel’s Industrial Edge Insights Software

QuEST Global, a global product engineering and lifecycle services company, announced today that it has enhanced its vision analytics and predictive maintenance solutions with Intel® Edge Insights for Industrial. QuEST developed these deep learning solutions to help OEMs and Tier 1 suppliers in the industrial and semiconductor sectors to automate security and monitoring systems and manufacturing tools used for making semiconductor chips.

The vision analytics solution developed by QuEST uses the Intel distribution of the OpenVINO toolkit to provide manufacturers with actionable insights based on specific patterns captured by machine vision systems. The solution uses Artificial Intelligence (AI) to develop insights based on video feeds. In addition to OpenVINO toolkit, the solution incorporates Intel Edge Insights for Industrial framework to facilitate deployment by end-users.

The predictive maintenance solution developed by QuEST is designed to help semiconductor OEMs maintain manufacturing tools. In this application, Intel Edge Insights for Industrial framework provides times series analytic capability as part of a predictive maintenance solution. This analysis help OEMs determine the remaining useful life of an asset and help to optimize maintenance time.

Commenting on the two solutions Krish Kupathil, Head – Hi-Tech and Digital, QuEST Global said, “As a trusted thinking partner to our customers, we aim to develop and implement innovative solutions in the areas of manufacturing, security and monitoring, and automotive. Intel’s Edge Insights for Industrial framework and related technologies have been enhancing our vision analytics and predictive maintenance solutions and AI capabilities, helping us create the frontier for our customers. We look forward to continued collaboration with Intel to drive tech-driven business growth for customers across industries.”

Intel Edge Insights for Industrial enables near real-time analysis at the edge by making it easy to integrate data, devices, and processes in manufacturing applications and easy to utilize Intel processors and accelerators. “The industrial sector is using Intel Edge Insights for Industrial-based solutions and tools to help improve operational efficiency and to help tighten factory security and monitoring. This enabling software makes it easy to deploy AI solution and optimizes the hardware performance across Intel-based platforms,” said Jonathan Luse, General Manager, Intel Industrial Solutions.

QuEST Global works with leading global companies across diverse verticals, helping them to address the growing demand for providing connected engineering experience to the end customers. Over the past two decades, the company has been helping its customers take the next step in their digital transformation journey by automating the process of identifying production problems, proactively implementing innovative solutions, and making products safer and more reliable.

Kastle Universal Banking Included in Global Banking Platform Deals Survey by Independent Research Firm

3i Infotech Limited (BSE: 532628, NSE: 3IINFOTECH), a global Information Technology company, committed to accelerating business transformation, has been recognized as a Solid Player and a Base and Regional Player in the combined and new deals categories respectively, for its banking product – Kastle, in the Forrester’s Global Banking Platform Deals Survey 2020. 

Speaking on the recognition, Mr. Padmanabhan Iyer, Managing Director and Global CEO, 3i Infotech said, “3i Infotech is honoured to have Kastle Universal Banking included by a prestigious institution like Forrester. We believe that this recognition reinforces our commitment of delivering next-gen products to our customers across the globe. By constantly upgrading our comprehensive set of IP based software solutions & IT services solutions, we have re-invented ourselves to address the dynamic requirements of BFSI industry.” 

“Kastle Universal Banking Solution is an end-to-end banking solution catering to the entire spectrum of banking across Lending, Islamic Finance, Core Banking, Treasury, Trade Finance, Integrated Risk Management, Digital Banking and Analytics. AMLOCK (Financial Crime Detection and Management Solution) coupled with Kastle Universal Banking Solution is a force multiplier for banks and financial institutions to be digitally equipped and be future-ready to meet their business goals. Multiple combined deals is a testimony to Kastle Innovative Banking Solution by banks and financial institutions across the globe. We are honoured by this recognition by Forrester,” said Krish Narayanaswami, President and Global Banking Head, 3i Infotech. 

Forrester’s Global Banking Platform Deals Survey 2020 is an independent survey conducted annually by Forrester. The research is published to guide decision-makers at financial institutions around the world. Forrester surveyed 35 key banking platform vendors about their 2019 deals and published the results from the survey in their report, The Banking Platform Market Remains Stagnant, Though Smaller Banks Are Turning To Fintechs - Forrester Report Link.

About 3i Infotech 

Headquartered in Mumbai, India, since inception in 1993, the Company has been committed to driving business value across multiple industry verticals and has a strong BFSI presence. The company has over 5500 employees in 31 offices across 12 countries and over 1200+ customers in more than 50 countries across 4 continents. With a comprehensive set of IP based software solutions and a wide range of IT services, 3i Infotech has successfully transformed business operations of customers globally. The Company has a very strong foothold and customer base in geographies like North America, India, Asia Pacific, Middle East and Africa, Kingdom of Saudi Arabia and South Asia.  

Its flagship products include Kastle™ (Universal Banking Solution), AMLOCK™ (Financial Crime Detection and Management Solution), MFund™ Plus (Asset Management Solution), Premia™ Astra (Core Insurance Solution) and Orion™ (Enterprise Resource Planning Solution). 3i Infotech provides IT Services across Mobility, Data Analytics, Block Chain, Cloud Life Cycle Management, Testing Services, Infrastructure Management, Application Development & Maintenance, Professional Services, IT Consulting and BPO. 

Lucknow-Boy Himanshu Singh Beats 2.52 Lakh+ Coders Worldwide to Become Code Gladiators 2020 Champion

Himanshu Singh is an Indian Institute of Technology (BHU) Varanasi graduate, he passed out college just one month ago and is working with an IT firm in Bengaluru.

* Of the total 2.52lakh+ participants, only 38% were students and rest 62% were professionals  

* Developers from Italy, US, Singapore, Ireland, Germany, Norway and Bangladesh also participated 

* TechGig Code Gladiators 2020 edition ran for 165 days and concluded with a mega virtual finale event – a first such conclusion for this Guinness World record holder event 

* More than 29 winners were felicitated in a grand virtual finale ceremony 

* Winners from 4 theme hackathons - namely UiPath RPA hackathon, Times Internet Multi-Label Classification, Microsoft Hack on Azure and IBM Call for Climate Change – were also crowned 

“Everybody has that one significant achievement in life which he cites as his ‘biggest win’; for me winning Code Gladiators 2020 will be ‘that biggest win’”, said Himanshu Singh - the newly crowned coding champion of the world’s biggest coding competition - TechGig Code Gladiators 2020. Himanshu Singh, who passed his college – the Indian Institute of Technology (BHU) Varanasi - just a month ago took over 2.52lakh+ coders and won the much-coveted champion’s crown!

Code Gladiators is the annual coding extravaganza hosted by TechGig and felicitated with Guinness World record and Limca Book record for its massive participation. Code Gladiators celebrated its seventh edition this year, and the first one to have a virtual grand finale. TechGig Code Gladiators 2020 edition was announced in March and saw swarming participation by developers – both Indian and international - despite the COVID-19 situation.  

Himanshu Singh won the 165-day long competition in a nail-biting coding finale. The finale rounds for coding and theme hackathons were held on August 8 and 9, respectively. From August 9 - 13, leaders from the participating companies evaluated and judged the finalists to select the winners.

TechGig Code Gladiators 2020 had four theme hackathons – namely, UiPath RPA hackathon, Times Internet Multi-Label Classification, Microsoft Hack on Azure and IBM Call for Climate Change. Theme hackathons are usually centred on finding business solutions to real-world problems. This year the last two hackathons were specifically focussed at finding tech solutions to combat COVID-19.

Explaining more details about the competition, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “In March 2020, we sensed that the COVID-19 situation could slip out of hands, and very quickly we decided to have a grand virtual conclusion to our mega coding competition. We were staring at a mammoth challenge to bring the grandeur of a worldwide recognised event to the virtual format and ensure that all our 2.52lakh+ participants get a slice of this event. I’m happy to share that we’ve been able to live up to all our expectations. We had a few international participants as well, which makes me think that maybe the virtual mode is better than the offline mode”.

International participants Ahmed Makki and Yurasik Ol participated at Code Gladiators for the first time. Ahmed Makki was jubilant about making it to the finals in his maiden attempt. “I feel the virtual mode is better because had that event been held in its usual offline format then I would not have been able to participate owing to visa and COVID-19 restrictions”. 

Talking about the virtual aspect of grand finale event Pourab Karchaudhuri – runners up at theme hackathon Multi-Label Classification, and a theme winner at Code Gladiators 2019 said, “The mood and tone of Code Gladiators don’t flicker’. “The experience is cool considering everything is online and extremely well managed,” he added. As for Lucknow boy Himanshu Singh, the journey has just started. He has recently joined an IT firm and hopes to do his best at his new job. 

The coding champion took home Rs 3 Lakhs and the theme champions won Rs 1,50,000. Collectively, all winners took home prizes worth Rs 50 Lakhs. The complete winners’ list of Code Gladiators 2020 is:

Coding Champions: 

Winner: Himanshu Singh

 1st Runner up: Chaitanya A

 2nd Runner up: Kalash Gupta

 3rd Runner up: Jyothi Bugatha

 4th Runner up: Rahul Dugar

Code Diva Award Winner: Kruti Dharaiya

 Coding Powerhouse:

 Winner: Colruyt IT Consultancy 

 1st Runner up: CDK Global 

 2nd Runner up: IG Infotech

Acuver Expands SAP C/4HANA Capabilities with Veteran Leadership Hires in Indian Market

Acuver Consulting, an emerging leader in supply chain & customer experience IT solutions, has announced appointment of new senior leadership for its SAP solutions – Tirupati Rao as SAP Practice Head and Amit Valsangkar as SAP Sales Head. 

To advance on delivering unified Customer eXperience through SAP C/4HANA, Acuver Consulting has onboarded exemplary SAP experts: Tirupati Rao as SAP Practise Head and Amit Valsangkar as SAP Sales Head. Tirupati Rao has devoted most of his career to the CX portfolio, setting up business from scratch as Regional Sales Director at Callidus Cloud and Sales Director CX post the takeover by SAP. Amit Valsangkar has been leading Sales & Service for pioneer CRM & ERP solutions like Microsoft, SAP, Oracle and Salesforce throughout his professional life. In his previous role, he was the Head of Sales and Business Development at Knack Systems. With the very best talent and experience the domain has to offer on-boarded, Acuver is building traction to redefine excellence in the CX sphere.

“We are delighted to have such cardinal, unmatched SAP CX veterans to lead our SAP delivery through these challenging times. They will be instrumental in enabling sustained success for Acuver’s clients by engineering unique customer journeys that address heightened consumer expectations.”, said Rajiv Upadhyay, Managing Partner, Acuver.

Customer expectations are seeing a drastic shift in the wake of COVID-19, and organizations that respond to changing demands will find an edge over competition. SAP C 4/HANA offers the right toolkit to address current market complexities and Acuver’s appointment of seasoned experts comes at an opportune moment. In the new role, Tirupati will be the chief custodian of Acuver’s SAP practise, identifying and nurturing new growth avenues be it in novel geographies, domains or new product launches stemming from the SAP suite. Amit will be the principal sales evangelist, scouting and converting new opportunities for Acuver to build and deliver Acuver’s CX expertise.

“From the dot come bubble to AI powered internet-of-things, I have witnessed the landscape evolve in pursuit of value-adding experiences. Customer-Focus is deep within Acuver’s DNA and I am thrilled to be building the customer success engagement portfolio to establish Acuver as the go-to authority on CX focused digitization”, said Tirupati. 

“Forging connections and learning via empathy is my life-long passion which can continue to flourish at Acuver. I am keen to build up synergies within the organization and aggressively drive up sales, expanding our customer base across geographies”, Amit stated.

To know more about the scope of supply chain and retail tech solutions from Acuver, please visit www.acuverconsulting.com. 

Acuver Consulting helps companies optimize their supply-chain for enhanced efficiency, profitability and customer experience. Acuver combines the right tools, methodologies and expertise in IT, business and technology to deliver solutions customized to the client’s unique operational landscape. 

Netmagic, Zerto Partner to Expand its Disaster Recovery as a Service

Netmagic, an NTT Company, and India's leading managed hosting and multi-cloud Hybrid IT solution provider, today announced its partnership with Zerto to enrich its Disaster Recovery as a Services (DRaaS) portfolio. The partnership will enable enterprises with faster and cost-effective disaster recovery of critical IT infrastructure. Zerto, a leader in IT resilience, replaces legacy solutions with a single platform to enable disaster recovery (DR), data protection, and workload mobility across hyperscale clouds, hosted services, and on-premise data centers.

Netmagic DRaaS is a complete DR Management platform with a pay-per-use model. With workflow automation capabilities, it simplifies DR processes and dashboards to provide real-time visibility that is tied into the organization's objectives in terms of availability, Recovery Point Objective (RPO), and Recovery Time Objectives (RTO). With this new partnership with Zerto, customers will get a lower-cost alternative to traditional DR solutions. With Netmagic managing the entire DR process, customers can stay focused on their core critical business.

Speaking about this, Nitin Mishra, Chief Product Officer, Netmagic (An NTT Company) said, “The partnership with Zerto will enable us to boost up our existing capabilities in DRaaS. With the Zerto IT Resilience Platform, we will be able to provide Cold DR Solution which will enable on Demand DR and a reduction in TCO for customers. This will be an end-to-end DR service allowing for the design, plan, and implementation of DR, with the key highlights being automated failover and failback operations beside dashboards for governance. By leveraging Zerto’s IT Resilience Platform, we will provide managed services for all aspects of DR planning, testing, and management.”

With organizations shifting to a new normal and work from home approach, data security and digital transformation initiatives are more significant than ever. Netmagic is a pioneer in offering the best tech-based solutions and with Zerto, these offerings will be further enhanced. Netmagic DRaaS service is based on per protected workload (Virtual machine) on a pay as use model. Customers will not only benefit by an upscale data continuity but also a much-optimized pay per use infrastructure.

“We are excited to have Netmagic join Zerto’s ecosystem of partners. We see Netmagic as a critical component to our strategy of providing DRaaS to the marketplace in India. Netmagic’s offering will allow customers to consume DRaaS, with the ability to scale on demand.  This offering will meet the needs of customers who need world class DR while taking advantage of the cost benefits of the pay-per-use model,” said Greg Bailey, Director of Channel & Cloud Sales EMEA, Zerto.

L&T Technology Services Expands Collaboration with Microsoft to Offer Solutions for Workplace Transformation

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, today announced that it has expanded its collaboration with Microsoft Corporation and launched its latest and enhanced version of the state-of-the-art i-BEMSTM solution on Microsoft Azure to transform buildings into future-ready smart campuses.

With growing digital transformation, there has been a clear impetus on the need for organizations to revamp their office premises to be eco-friendly, taking into consideration sustainability aspects including greenhouse gas and carbon emissions. Another important aspect for office and facility administrators today is to find balance in their buildings to ensure health, safety and wellbeing of their workforce.

LTTS’ award-winning Intelligent Building Experience Management System i-BEMSTM is a system-of-systems solution that focuses on creating digital experiences and intelligent space management. The cloud-based smart buildings/campus/spaces solution helps monitor and manage building operations and optimize business metrics leveraging advanced IoT based Edge Analytics and machine learning algorithms.

i-BEMS™ uses advanced energy analytics and fault diagnostics for energy savings, and net-zero energy compliance. i-BEMSTM has enterprise-grade security features and can create a digital twin to test changes in a virtual build of the building.

LTTS has earlier collaborated with Microsoft to develop a smart campus in Israel for a leading technology company. The two companies have also partnered to leverage  Azure IoT platform for Sustainability solutions and connect with Microsoft Dynamics 365 for Field Service to enable real-time optimization, improve ROI and employee productivity for Facility Management and Operations globally. In 2018, LTTS furthered their working relationship with Microsoft by setting up a Digital Industrial Transformation Applied Innovation Centre for shared enterprise customers.

The current expanded collaboration leverages Azure to enable i-BEMSTM to act as a Facility Information Broker, unifying data from all systems making the building/campus a single entity rather than a heterogeneous collection of systems focused on employee health and safety and preservation of the immediate environment.

Experts from LTTS and Microsoft also shared the latest best practices on the holistic approach for enterprises planning eco-friendly and safe smart buildings, which can be read here: Smart buildings: From design to reality.

Alind Saxena, Chief Business Officer - Transportation & Alliances, L&T Technology Services said, “With digital transformation, enterprises are also increasingly focusing on finding sustainable ways to grow, while protecting the planet and its resources. Another important determinant for companies is maintaining employee safety and wellbeing within a building by reducing resource usage and improving operational efficiency. i-BEMS covers the best practices from designing to construction to operations for enterprises planning environmentally friendly and socially responsible smart building projects. We are excited to further expand our partnership leveraging Microsoft Azure IoT & Edge technology to serve enterprise customers with industry-leading solutions.”

Sanjay Jacob, Principal Program Manager, Microsoft Corporation said, “As a leader in engineering solutions for smart and sustainable campuses, LTTS’ Smart Building solutions enable modern workplaces by leveraging cutting-edge Microsoft Azure IoT, Edge & AI technology. Employee safety, energy-efficiency and sustainability is the need of the hour and LTTS delivers an integrated, advanced Azure based Smart Building solution for global enterprises to deploy smart and sustainable campuses. The whitepaper provides an excellent template with the most current best practices for enterprises to go from design to reality of their smart buildings.”

About L&T Technology Services Ltd

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,600 employees spread across 17 global design centers, 28 global sales offices and 51 innovation labs as of June 30, 2020.

66% of Active Job Seekers will Increase their Time Spent on Job Search: LinkedIn Workforce Confidence Index

LinkedIn, the world’s largest professional network, today announced the findings of the seventh edition of the Workforce Confidence Index, a fortnightly pulse on the confidence of the Indian workforce. Based on the survey responses of 1,303 professionals in India, findings from June 15-28 reveal India’s rising optimism towards job security as businesses slowly reopened last month.

The seventh edition of the Workforce Confidence Index shows a modest increase in India’s overall workforce confidence, which reflects in this fortnight’s composite score of +50 (up from +48 in June 1-14). This growing confidence comes at a time when the economy continues to reboot, thus sparking hiring prospects across varied industries such as ecommerce, IT services, insurance and gaming. In fact, the economic repercussions of the pandemic have also urged businesses to innovate their offerings to lead through change, thereby stimulating job creation across sectors. Backing this up, Arvind Mediratta, MD & CEO of Metro Cash & Carry India says, “There is going to be a lot of demand for new products and services which, maybe, we’re not even able to envisage right now.”

Active job seekers confident about career progression as economy reboots

The lifting of the lockdown in several states and the continued adversities caused by COVID-19 have instituted a new set of workforce demands, thus creating new economic opportunities across the country’s industrial landscape. This uptick in hiring has fuelled the confidence of active job seekers towards career progression as findings show that about 2 in 3 professionals will increase their time spent searching for (66%) and applying to (64%) jobs in the next 2 weeks. Findings also highlight the active job seekers’ clear intent to upskill today for a safer tomorrow as 68% say they will increase their time spent on online learning to harbor long-term job security and career progression.

Decision makers more confident about job security than junior workers

To understand how this optimism towards job security differs across seniority levels, the LinkedIn Workforce Confidence Index also captured responses from professionals with varied work experience levels. Findings state that decision makers appear to be more confident about their job security when compared to their junior workers. Only 1 in 4 senior professionals said they would increase their time spent on searching for jobs in comparison to almost half (45%) of the junior workforce. Further reinforcing the confidence of senior executives towards job security, findings showed that only 16% of Director+ professionals (decision makers) would increase the number of jobs they apply to, when compared to 48% of the junior workforce.

Commenting on this growing optimism, HR expert Prabir Jha explains why India’s rising hope towards job security comes with slight trepidation - “It must be understood that retaining a job in the present times is in itself a strong confidence booster. Many people are also willing to take up to 50% cut in their salaries for an assured job. This means that whoever retains a job today, clearly knows that his/her role matters to the organization even in the new reality.”

He also added, “More experienced workers may have savings to support them in the long run,” to explain why senior professionals are not as inclined towards increasing their time spent on searching for jobs.

Job-seekers can signal that they are #OpenToWork, with LinkedIn’s new feature

To help job seekers land a job in an uncertain environment, LinkedIn is providing free tools and resources for effective job search and placement. One such profile feature that was recently launched is #OpenToWork, which helps job seekers maximize their visibility on the LinkedIn platform. The feature, which frames the profile picture on LinkedIn, helps members signal to recruiters that they are immediately available to take up in-market opportunities. The feature also helps them specify the types of jobs they are interested in, and what their preferred start date and location is. So far, more than 30 million job seekers have used the #OpenToWork tool to find their next job on the platform.

Here are a few member stories that show how this tool is assisting them to connect with the right opportunities during such testing times -

●     Shilpisweta asked for advice, or opportunities from her network as she embarked on finding a new role in a LinkedIn post.

●     Yash moved back to India and decided to post on LinkedIn to find opportunities in the Social Media Management and Branded Content Strategy fields.

●     Vijay lost his job due to the COVID-19 situation and asked his LinkedIn network to refer him to new opportunities in a LinkedIn post.

●     Gopinath thanked his previous employer- Uber for the learnings in a LinkedIn post and asked his connections for leads to another exciting job opportunity.

Other free tools that help job seekers prepare for interviews and gain the right guidance include ‘Interview Prep’ and ‘Offer Help’. While ‘Offer Help’ makes it easier for our members to share that they are willing and able to extend a helping hand to their connections who are actively looking for opportunities, ‘Interview Prep’ offers free tools, including a new Microsoft-AI powered feature, to help members demonstrate their skills through effective interviewing and real-time feedback.

Hero Motocorp Hands Over Unique First Responder Vehicles to Community Health Centres in Alwar

As part of its ongoing Corporate Social Responsibility (CSR) initiatives towards the COVID-19 relief efforts, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today handed over two first-responder vehicles to authorities at the Community Health Centres in Neemrana and Mundawar, in the Alwar district of Rajasthan. 

These unique and utilitarian vehicles will be useful for reaching out to patients in rural and remote areas and comfortably moving them to the nearest hospitals.  First Responder has been custom-built as an accessory on the powerful Xtreme 200R motorcycles of Hero MotoCorp.

The First Responder has been equipped with a full stretcher with a foldable hood mounted on the side, essential medical equipment such as a detachable first-aid kit, oxygen cylinder, fire extinguisher and other safety features such as LED Flasher Lights, foldable beacon light, emergency wireless public announcement system and siren.

The two First Responders vehicles from Hero MotoCorp were handed over to Shri Manjeet Dharampal Choudhary, Member of the State Legislative Assembly of Rajasthan, Mundawar (Neemrana), Alwar.

They have been designed and developed through a collaborative initiative by the engineers at Hero’s Centre of Innovation and Technology (CIT) in Jaipur and the New Model Centre (NMC) at the Company’s manufacturing facility in Gurgaon.

Hero MotoCorp is in the process of manufacturing several more of these First Responders, which will be handed over to local health authorities in other parts of the country.

Talent Demand Tanks in Most Sectors in June 2020, Green Shoots in BPO, Health & Auto: TimesJobs RecruiteX June’20

Highlights

-        Retail, BFSI shed most talent demand in June 2020 M-o-M study 

-        Talent demand picked up in BPO, Health & Automobiles in June 2020 

-        In Y-o-Y analysis, the demand for talent remained same in June’20 and June’19

 

The TimesJobs RecruiteX, monthly talent demand index, marks a 4% growth in talent demand in June’20 (89) over May’20 (85). However, the demand in high-volume sectors including IT, BFSI and Retail records a steep fall. The Y-o-Y analysis showed that the talent demand index for June’19 (89) and June’20 (89) was the same. 

M-o-M talent demand trends: The growth in demand index is contributed by Automobiles (17%), Healthcare (16%) and BPO (14%) sectors who are re-hauling the business post the Unlock 1.0. With the Government relaxing lockdown norms, companies in these sectors are eyeing growth hacks by customising their offerings in the changing business scenario. 

Q-o-Q talent demand trends: The Q-o-Q analysis shows that demand for talent in IT and Retail sectors witnessed growth in AMJ’20 over JFM’20. Both, these sectors witnessed double-digit growth. Talent demand index stood at 370 points in AMJ’20 over 338 points in JFM’20, a 9% growth. The Retail sector witnessed a 30% growth in AMJ’20 in comparison with JFM’20. 

Y-o-Y talent demand trends: The Y-o-Y analysis for talent demand shows no growth, or loss from June’19 to June’20.  The Consumer Durables sector showed a growth of about 30% in Y-o-Y talent demand analysis, followed by Healthcare. The BPO sector saw the steepest fall of (-34%) in talent demand in the yearly comparison.

Commenting on the findings of RecruiteX June 2020, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The findings of RecruiteX June 2020 are a silver lining in the present scenario. The rise in BPO, Healthcare and Automobile’s talent demand hints that companies are striving hard to get back to normalcy after the Unlock 1.0. Not just the M-o-M analysis, but even the Q-o-Q comparison (AMJ’20 v/s JFM’20) has shown growth, with a double-digit hike in the IT and Retail sectors”.   

Here are the major findings of the RecruiteX June 2020 edition:

Industry-wise

Sectors which gained talent demand:  

- Automobiles: (17%)

- Healthcare: (16%)

- BPO: (14%)

Sectors with steepest loss in talent demand: 

- Retail: (-13%)

- IT/Telecom: (-6%)

- BFSI: (-2%)

Functional areas: 

Functional areas which gained talent demand:  

- Doctors/Nurses/Medical Professional: (20%) 

- Logistics/Supply Chain Management/ Procurement: (10%)

- Engineering: (5%)

 Functional areas with steepest loss in talent demand:  

- IT/Telecom: (-10%)

- Sales/Business Development: (-3%)

Location-wise: 

Cities which gained talent demand:  

- Indore: (4%)

 - Ahmedabad: (2%)

 - Hyderabad/Secunderabad: (2%)

Cities with steepest loss in talent demand:  

- Bengaluru: (-18%)

- Jaipur: (-6%)

 - Chennai: (-5%) 

Work experience-wise: 

 Work experience category which gained talent demand:  

- Over 20+ years of work experience: (6%)

- 10-20 years: (5%)

- 2-5 years: No gain, no loss 

Work experience category with the steepest loss in talent demand:  

- Freshers and people with less 2 years of work experience: (-13%)

LTI Launches Canvas, a Modern Software Engineering Platform for Remote & Hybrid Workforce of Future

Larsen & Toubro Infotech (BSE code: 540005, NSE: LTI), a global technology consulting and digital solutions company has launched LTI Canvas, a modern software engineering platform that addresses critical need of enabling work from anywhere. LTI Canvas is an integrated platform that brings together various processes, tools and methodologies to drive technology and business outcomes in an environment where teams are operating in a distributed environment.

A resilient digital platform, LTI Canvas can help organizations improve their effectiveness and ability to innovate in a remote or hybrid environment. LTI Canvas is a bundle of Microsoft technologies and LTI solutions to help IT professionals across industries collaborate easily and stay productive. It is based on microservices architecture and leverages Microsoft platforms like Azure and Microsoft 365 including Teams, among others along with LTI’s Ways of Working solution stack. LTI Canvas streamlines processes like software development, support, transition, knowledge management, infrastructure management, and information security. It consolidates capabilities across Cloud, Agile, DevOps and Design Thinking leveraging AI/ML and analytics.

Nachiket Deshpande, COO & Executive Board Member, LTI said: “The pandemic has forced enterprises to rethink their approach to business continuity and employee productivity. With hybrid work environment gaining quick traction, we designed LTI Canvas as an integrated platform that allows software engineering to be delivered remotely. LTI Canvas drives impactful interventions and also enables upstream processes like solutioning, requirement workshops and transitions to be carried out remotely. LTI Canvas is our design for the future of software engineering.”

Meetul Patel, Executive Director, Strategic Growth, Microsoft India, said, “We are inspired by our customers and partners who are harnessing digital tools to navigate the emerging environment across industries and geographies. Microsoft Azure and advanced technologies will help securely accelerate tech intensity across organizations and enable the innovations that can reimagine the workplace. We’re pleased to partner with LTI on LTI Canvas, which has a unique layered approach to achieve the best outcomes for organizations developing work-from-anywhere capabilities.”

Going beyond Work from Home (WFH), LTI Canvas approaches Everything from Home (xFH) in five layers, each with a specific set of tools, governance and outcomes. The first layer addresses the core requirement to be ‘Operational from Home’ and enables swift and efficient remote working for employees. The next layer offers secure connectivity options to be ‘Secured from Home’. The third layer helps to stay ‘Engaged from Home’ and enables active collaboration with remote workforce. The fourth layer helps attain higher output levels and be ‘Productive from Home’. The final layer enables ‘Growth from Home’ at both, personal and organizational level to be able to scale appropriately.

To know more about the platform, visit https://canvas.lntinfotech.com/

Google Cloud, Netmagic Partner for Center of Excellence in India

Netmagic Solutions (An NTT Company) a leading managed hosting and multi-cloud hybrid IT solution provider in India, today announced its partnership with Google Cloud to create a Centre of excellence (CoE) that will enable their customers to accelerate their hybrid cloud journey by modernizing their mission-critical IT infrastructure and applications that leverage the advanced capabilities of Artificial Intelligence (AI), Machine Learning (ML) and Analytics at scale.

The CoE will serve as a multi-disciplinary customer showcase hub to develop and deliver solutions, leveraging Google Cloud’s modern application platform, Anthos, for consistent development and operations experience across hybrid and multi-cloud environments.

“We are extremely pleased to partner with Google Cloud to enable our customers to enhance their digital experiences capitalizing on the capabilities, value and benefits of an open, collaborative and secure cloud platform,” said Sharad Sanghi, MD and CEO of Netmagic (An NTT Company). “This partnership reinforces our commitment to our customers with an integrated approach to hosted infrastructure, connectivity, security and managed support – helping them derive greater value while delivering business outcomes.”

Karan Bajwa, Managing Director of Google Cloud India said, “We’re excited to partner with Netmagic and help businesses make a smooth transition to the cloud. The CoE will help businesses leverage Google Cloud’s leading infrastructure, platform capabilities and industry solutions to  build for the future; and Netmagic, as a managed hosting and hybrid cloud IT solution provider, is uniquely positioned to help customers along this path.”

Through the strategic partnership with Google Cloud, Netmagic will be able to help organizations in their cloud journey, from strategy and design, to implementation and management of their hybrid architecture, which includes capacity and billing management, comprehensive support across cloud adoption through logical data center extension and getting a unified view of their entire hybrid cloud ecosystem.

By leveraging Google Cloud Partner Interconnect program, Netmagic customers can also securely and privately connect to Google Cloud’s global network. This will enable them to run a wide variety of mission critical workloads, including bare met al solutions to GCP-native managed offerings and help reduce their operational overhead and drive innovation and agility. This logical extension will also provide low latency support for other workloads such as on-premise to GCP migration, disaster recovery, and burst capacity for existing Netmagic customers.

About Netmagic

Netmagic, an NTT Company, is India’s leading Managed Hosting and Multi-Cloud Hybrid IT solution provider serving more than 2000 enterprises globally. Headquartered in Mumbai, Netmagic also delivers Remote Infrastructure Management (RIM) services to various enterprise customers globally across Americas, Europe and Asia-Pacific region. The Company was the first in India to launch services – Cloud Computing, Managed Security, Disaster Recovery-as-a-Service (DRaaS) and Software-Defined Storage. Netmagic has been recognized with 8 awards at the CIO Choice 2020, and 2 awards at the Datacenter Dynamics India 2019. To learn more, visit us at: www.netmagicsolutions.com

About NTT Ltd.

NTT Ltd. is a leading global technology services company bringing together 28 brands including NTT Communications, Dimension Data and NTT Security. We partner with organizations around the world to shape and achieve outcomes through intelligent technology solutions. For us, intelligent means data driven, connected, digital, and secure. As a global ICT provider, we employ more than 40,000 people in a diverse and dynamic workplace that spans 57 countries, trading in 73 countries and delivering services in over 200 countries. Together we enable the connected future. Visit us at our new website https://hello.global.ntt

Trend Micro Finds 72% of Remote Workers Have Gained Cybersecurity Awareness During Lockdown

Trend Micro Incorporated, a global leader in cybersecurity solutions, today released survey results that show how remote workers address cybersecurity. Nearly three quarters (72%) of remote workers say they are more conscious of their organisation’s cybersecurity policies since lockdown began, but many are breaking the rules anyway due to limited understanding or resource constraints.

Trend Micro’s Head in the Clouds study is distilled from interviews with 13,200 remote workers across 27 countries on their attitudes towards corporate cybersecurity and IT policies. It reveals that there has never been a better time for companies to take advantage of heightened employee cybersecurity awareness. The survey reveals that the approach businesses take to training is critical to ensure secure practices are being followed.

In India, the results indicate a high level of security awareness, with 84% of respondents claiming they take instructions from their IT team seriously, and 83% agree that cybersecurity within their organisation is partly their responsibility. Additionally, 67% acknowledge that using non-work applications on a corporate device is a security risk.

However, just because most people understand the risks does not mean they stick to the rules.

For example:

44% of employees admit to using a non-work application on a corporate device, and 46% of them have actually uploaded corporate data to that application.

83% of respondents confess to using their work laptop for personal browsing, and only 45% of them fully restrict the sites they visit.

42% of respondents say they often or always access corporate data from a personal device – almost certainly breaking corporate security policy.

14% of respondents admit to watching / accessing porn on their work laptop, and 14% access the dark web.

Productivity still wins out over protection for many users. 52% of respondents agree that they do not give much thought to whether the apps they use are sanctioned by IT or not, as they just want the job done. Additionally, 44% think they can get away with using a non-work application, as the solutions provided by their company are ‘nonsense.’

Dr Linda K. Kaye, Cyberpsychology Academic at Edge Hill University explains: “There are a great number of individual differences across the workforce. This can include individual employee’s values, accountability within their organisation, as well as aspects of their personality, all of which are important factors which drive people’s behaviours. To develop more effective cybersecurity training and practices, more attention should be paid to these factors. This, in turn, can help organisations adopt more tailored or bespoke cybersecurity training with their employees, which may be more effective.”

Nilesh Jain, Vice President, Southeast Asia and India, Trend Micro, said, “It’s really heartening to see that so many people take the advice from their corporate IT team seriously, although you have to wonder about the 16% who don’t. At the same time those people also accept their own role in the human firewall of any organisation. The problem area seems to be translating that awareness into concrete behaviour. To reinforce this, organisations to take into account the diversity across the organisation and tailor training to identify and address these distinct behavioural groups. The time to do this is now, to take advantage of the new working environment and people’s newfound recognition of the importance of information security.”

The Head in the Clouds study looks into the psychology of people’s behaviour in terms of cybersecurity, including their attitudes towards risk. It presents several common information security “personas” with the aim of helping organisations tailor their cybersecurity strategy in the right way for the right employee.

LTI to Launch Accelerated Migration Program for SAP-Based Enterprises with Amazon Web Services

Larsen & Toubro Infotech, a global technology consulting and digital solutions company, today announced an Accelerated Migration Program for customers of SAP with Amazon Web Services (AWS). As part of this program, LTI will help customers move their SAP ERP, SAP S/4HANA, and other SAP workloads from on-premise to AWS leveraging its intelligent, automated, migration acceleration platform and services.

To enable faster migration to AWS, the program offers Discovery Module, Build and Deployment Module, and Validation Module to enterprises across industry segments. The Add-on components of the program include an SAP profiler, analyzer for SAP S/4HANA, Auto-code remediation for SAP HANA compliance, Security Module and Smart Testing module with a vast repository of test scenarios and test cases.

“LTI has a successful track record of enabling AWS cloud transformations across highly complex SAP customer landscapes,” said Siddharth Bohra, Chief Business Officer, Tech, Media, Consumer & Head of Digital and Analytics, LTI. “Working with AWS will help us digitize the core and bring this expertise to other SAP clients, leveraging our highly automated approach.”

LTI has achieved AWS SAP Competency status which establishes LTI as an Advanced Consulting Partner in the AWS Partner Network (APN) with certified technical proficiency and proven customer implementation success in migrating SAP environments to AWS. 

The Accelerated Migration expertise reflects the highest standards of LTI’s depth of knowledge in the functional and technical aspects of AWS cloud migration for SAP solutions. LTI itself is a very large and long-standing SAP customer and has migrated its internal SAP systems to AWS.

As an SAP customer, an AWS SAP Competency Partner, and global strategic services partner with SAP, LTI is positioned to be an ideal partner for any SAP customer migrating to AWS. LTI’s Accelerated Migration Program for SAP solutions speedily migrates and transforms SAP-based enterprises by lowering infrastructure costs while simultaneously improving agility, customer experience, and innovation.  

In October 2019, LTI acquired Powerup Technologies, an APN Premier Consulting Partner, bolstering its cloud consulting and digital transformation capabilities. LTI recently won the 2020 SAP Pinnacle Award as Industry Innovation Partner of the Year.

Infosys, Wipro get terror e-mails

Six prominent IT companies in the city, including Infosys and Wipro, have received e-mails threatening to blow up their buildings, said a top police officer.

Joint commissioner of police B. Gopal Hosur said here that the companies received e-mails threatening to blow up their establishments two days ago and immediately informed the police.
The police have already begun investigations, he said, but did not divulge further details.
Security had been tightened at all the Information Technology companies which received the threats.

City police commissioner Sankar Bidri said police viewed the e-mail threats seriously and that all precautionary measures were being taken.

Wipro to buy Citi unit for $127 million

Wipro Ltd, India's third-ranked outsourcer, said on Tuesday it had agreed to buy Citi Technology Services Ltd for $127 million in cash and would sign a six-year service agreement worth at least $500 million.

The deal done through Wipro Technologies, the information technology arm of the New York-listed Wipro, is expected to close in March 2009, Wipro said in a statement. Citi Technology Services is the India-based captive technology services unit of Citigroup.

This is the second time that Citi, will sell off its Indian back-office operations. In early October, it had sold its captive BPO Citigroup Global Services (CGSL) to Tata Consultancy Services for $505 million.

In addition to the sale, Citi also signed a $2.5-billion deal through which TCS will provide process oursourcing services to Citi and its affiliates over nine-and-a-half years. This will be provided through CGSL.

The acquisition broadens TCS's portfolio of end-to-end IT and BPO services in the global banking and financial services sector.

CGSL is one of the largest providers of BPO services within the banking and financial services sector, providing end-to-end process management across this spectrum and a broad array of services to Citi's consumers, corporate and global wealth management businesses globally.

Sources: Agencies

Indians to experience low salary hikes likely in 2009

Anticipating a decline in its business performance in 2009, India Inc is likely to cut back on the planned salary increase in the coming year, while most firms want to avoid huge job cuts, a latest survey says.

Majority of companies in the country are trying to be selective in planning the workforce, compensation and benefit cuts for 2009, while they anticipate a decline in their company's business performance next year, according to global HR consultancy Mercer.

The survey revealed that as much as 83 per cent of companies expect salary increases in the coming year to be lower than originally planned by them. The responses indicate that the companies are planning to look closely at holding down the level of compensation increases in 2009.

However, only 19 per cent of survey respondents are considering the more drastic step of freezing 2009 salaries at 2008 figures.

The results for companies in India generally match survey findings from other parts of the world. In China, Australia, the United Kingdom and the United States as well between 20 and 30 per cent respondents believe that the 2009 bonus payout would be reduced from those originally planned.

"India grew on the back of her knowledge and people -centric industries such as financial services, information technology and retail, among others. However, primarily due to employee costs having risen in India at double-digit rates since 2003, cost structures have been coming under severe strain," Mercer Consulting (India) country leader Padma Ravichandar said.

Most companies in India plan to avoid significant workforce reductions, but they do not plan significant hiring either, the survey revealed.

Nearly two-thirds (63 per cent) of companies surveyed revealed that a significant reduction in workforce was unlikely even as only one in four firms expect to continue their hiring activities at or above replacement levels.

This current situation should be perceived as a cooling-down period in terms of talent costs. This is a levelling act which may help India remain cost competitive in the long run. In the near term, the adverse impact of business sentiment seems all pervasive, Ravichandar added.

Over 80 per cent of respondents expect their company's business performance to decline in 2009, the Mercer survey noticed.

Further, corporate India expects mergers and acquisitions to be severely affected in the next year, with fewer than seven per cent of survey respondents expecting increased M&A activity.

Mercer's survey, conducted in early November, collected responses from over 100 human resource and finance professionals in India, as part of more than 1,000 responses from around the world.

Source: Agencies

Will nanotechnology transform information technology?

The nanotechnology industry is heralding a new world order and is estimated to grow over $1 trillion by 2015. Since it is distinguished by its interdisciplinary nature, can nanotechnology revolutionize information technology?

Even though it has already bringing in radical changes in the fields of healthcare, textile, paint, rubber, automobile industries, but lately also seeing advances on the IT front.

Talking to CXOtoday, Ashok Kumar Manoli, principal secretary IT, BT & Science & Technology, Government of Karnataka said, “without doubt, nanotechnology is making rapid advances in the IT industry since IT is one of the defining features of today’s world. Nano has made advances in IT even if it is not directly related.”

Recently, IBM researchers have created transistors out of carbon nanotubes that can outperform similar silicon transistors, a development that helps build the case that carbon may one day become a building block of computing.

IBM researchers have outlined how transistors made of carbon nanotubes -- long, thin strands of carbon molecules -- delivered more than twice the amount of electrical current at a faster rate than cutting-edge transistors made from silicon and metal, the basis for chips today.

Likewise, Samsung, world’s leading electronics major has added carbon nanotubes to LCD tellies. Reports indicate that Samsung has been showing off its technology, which uses carbon nanotubes to drop the cost and increase the performance of LCD screens.

According to Masum Khan, product manager of Tesscorn, a leading company in customized equipments for nano research said, “Samsung research institutes have developed a 15-inch prototype LCD screen that employs an array of carbon nanotubes. The nanotubes are used instead of conventional light sources, such as bulbs or light-emitting diodes.”

Khan said that telly technologies would lower the cost of LCD TVs in the coming years.

Nanotech in consumer electronics

Nanotube TV technology has been around for a while and has much in common with traditional cathode-ray sets. The downside is that they need new production lines and would be more expensive than LCDs and Plasma screens.

However, if they are used alongside LCDs they could be used to cut the cost the backlight of LCD TVs. The backlight makes up half the cost of a 40-inch LCD. Samsung said that the partial use of nanotubes could lower energy consumption and improve picture quality. An LCD takes 15 milliseconds to render a picture, while an LCD with carbon nanotubes as a backlight just four milliseconds.

Technologists now want to create an LCD with a carbon backlight that lasts 30,000 hours and puts out 60 to 70 lumens per watt.

The other advances in nanotechnology is the “Nanosilver” technology used in almost all consumer appliances like washing machines, refrigerators where in the nanosilver technology helps fighting bacteria so food remains fresh for longer. Khan said a number of products are already coming out in the market.

Car changes color as per outside climate

On the automobile front, nanotechnology is used to develop a paint that can change color depending on the outside weather. This is possible when a small change in done “nanovoltage” to the paints resulting in change of color. “A number of automobile manufacturers have already expressed interest in the technology but this is still in research stage,” adds Khan.

Nano materials in tyres

Likewise, rubber when mixed with nano materials tends to have longer life than the normal tyres and also less on the wear and tear.


Light bullet proof garments

On the textile front, we already seen garments that are stain resistant and wrinkle free but now armed forces will use garments made of carbon material that are very light and even bullet proof. These garments are also anti-bacterial that can be worn for a number of days.

2.5 lakh may lose jobs in BPO sector

Business Process Outsourcing firms are likely to see 2.5 lakh job losses by the first quarter of 2009 in the wake of downturn in the US and other developed economies, BPO industry association said.

Though the industry is likely to see thousands of job losses, the silver lining is that the recession would compel more companies in the US and Europe to look at outsourcing as a way to cut costs and improve efficiencies, the Business Process Industry Association of India (BPIAI) President Samir Chopra said.

Praveen Sengar, Head-Software, Services & Industry (Vertical Reserach), IDC India Ltd saidthe slowdown is likely to impact expansion plans of the industry, as the time taken for signing up new clients is taking longer time.

"It will also result in greater consolidation and promote diversification into areas hitherto considered as non-core activities," Sengar said.

Chopra said that urgent government measures are required to boost the industry, specially for the medium and small enterprises.

Both fiscal and administrative measures like extending tax relief for another 5-10 years and export promotion steps, including market development fund is need of the hour, Chopra said.

He further said the terrorist attacks in Mumbai has led to the widespread cancellations of visits and forthcoming international events.

Source: Times of India

Ten tips for resellers

Some top tips for resellers in managing their business, particularly in difficult macroeconomic conditions from Arrow ECS Arrow - Enterprise Computing Solutions, a business segment of Arrow Electronics Inc. recently offered the following tips to resellers in managing their business, particularly in difficult macroeconomic conditions.

Additional guidance for resellers in managing their business, and comprehensive resources to help them grow faster than the market and faster than the competition is available at www.ArrowECS.com!

1. Do not depend on product reselling as your only source of profit. Have other sources of profit generation that supports your businesses. Successful value–added resellers must add additional value to supplier offerings to ensure a predictable and profitable revenue flow. "If I create my own service offering outside of the products, then I'm in a situation that I'm having a solutions discussion with customers, focusing on a particular methodology or service offering that I've designed," said Mike Strohl, president of Concord, Calif.–based Entisys Solutions Inc. and Agile 360, a division of Entisys. "It's a lot easier to sell products and services that way."

2. Know your customers' total information technology spend and be aware of how the solution fits into the end–user's environment with a view to fully "clothing" the sale. For example, is there opportunity for additional software, accessories, printers or personal computers? Ask questions to ensure that you are maximizing your selling opportunity. "Knowing the total IT spend is important, but you should also know and understand your customer's budget cycle and get into that process," said Strohl. "There is extreme power in being a part of that process. You know all their projects, what they can spend and where their money comes from."

3. Focus on solving business problems for your customer, not just selling them product. Anyone can do that, and solutions automatically sell more product, and are less price sensitive. "Compliance regulations such as HIPAA (the Health Insurance Portability and Accountability Act), the Sarbanes–Oxley Act and others are driving purchases around security solutions," said Jim Steinlage, president of Kansas City–based Choice Solutions LLC. "I'm also seeing increased interest in solutions that offer opportunities to work remotely."

4. Leverage the resources of your value–added distributor. You are simply increasing your cost structure and making yourself less competitive if you don't take advantage of your distributor's resources and hire your own team. "Nettitude has worked with the DNS group of Arrow ECS for a number of years. We are able to tap into the specific product knowledge of Arrow ECS' technical team and partner with their sales and marketing resources to deliver targeted campaigns and drive sales," said Martin Watts, sales manager for Nettitude, a security reseller based in the United Kingdom. "This close relationship has contributed to a 25 percent revenue growth year–over–year in security products delivered by Nettitude."

5. "Focus on solutions that have a short-term return on investment," offered Steinlage. "IT decision-makers aren't into solutions with a two-year ROI right now. They are much more into the solutions with ROI of a year or less."

6. Add as much service as possible. If a project requires skills you don't have, partner with your distributor or even another value–added reseller if necessary, but don't just leave the customer looking for someone to address their needs. It invites competition into your accounts. "The smart VARs are the ones that know their own skill set, that can identify what they're experts in – and find other partners with other products and solution lines that complement their offerings," said Strohl. "There is more in that than what just seems obvious."

7. Identify new customers. VARs must engage in marketing activities to find new customers. Without new customers, VARs cannot grow, and without growth they will fail. "New customers are indeed the lifeblood of a business," said Dan Lowery, president of St. Louis-based Lowery Systems Inc. "Each year, we try to leverage the resources of Arrow ECS, such as its MPower program for the midmarket, or new service areas from IBM to identify new customers. The intent is to get new names, and grow with them. By using resources that are available to us through Arrow ECS and IBM, the cost to us is greatly reduced."

8. Leverage supplier programs that protect margins. Supplier deal registration programs are critical tools for VARs to demonstrate and protect their value. "I pay a dividend to train one person to track all certifications, rebates and sales promotion incentive fees," said Lowery. "By utilizing market development funds from various sources, we are often able to put on a first-class event at minimal cost."

9. FOCUS! You can't be all things to all people. Know your value proposition, be able to articulate it and make sure your business is organized around it. It's never been more critical for VARs to have a value proposition and be able to deliver it. Communicate your value to suppliers and ensure your distributors are supporting that effort.

10. "Know thy pipeline," said Andy Bryant, president of Arrow ECS. "You really have to get underneath the pipeline and ask, 'is this project going to go or not?'"

A ‘prolonged’ recession would impact IT industry

The on-going recession would mean several quarters of declines in IT purchases…Software and IT services vendors will start to feel the pinch.

Forrester Research, an independent research firm has outlined an IT spending scenario for a long and deep recession for technology companies. According to this latest Forrester scenario, “A prolonged recession would mean several quarters of declines in IT purchases, not just two or three quarters with little or no growth in late 2008 and first half 2009.” This is the first time Forrester has outlined the possibility that the economic crisis could spark a short-term contraction in IT spending as opposed to a slowdown in growth.

The latest Forrester report offering this scenario - What The Financial Crisis Means To The Tech Market, by Andrew Bartels (VP & Principal Analyst, Forrester Research), states that on a full year 2009 basis, a sustained recession could lead to annual US IT spending growth of 2-3% and global IT spending growth of 3-4%. Says Bartels, “This is just a scenario as an acute financial crisis has hit not only the US but also countries in Europe and Asia.”

In his Sept’08 review of the US IT market, Bartels had predicted a distinct slowdown in growth for US business and government purchases of technology goods and services due to an assumed recession starting in the third quarter. Elaborates Bartels, “We continue to estimate global IT spending growth in 2009 being 7-8%, and we are still sticking to our forecast of a sharp decline in growth – instead of a contraction – for US tech purchases. Why? Our tech market forecast already presumes the recession that is actually happening… Still, with the financial crisis now spreading around the world, risks have grown that the US and other major countries will experience a longer and deeper recession than we had expected.

This scenario will help technology vendors to be prepared, and to mould their strategy, according to the economic environment.” He further adds, “The Software and IT services vendors will anyways – with or without the said scenario – start to feel the pain though sales of these products and services have so far avoided much slowdown in 2008. They will be hit hard in the next three quarters. Still, "hit hard" is relative — vendors in these categories will have on average 3% to 5% growth instead of the 9% to 12% growth they've seen earlier in 2008.” Stating that the rules for technology vendors’ success have changed, Bartels recommends, especially to the US based vendors, to refocus on the US market as it (US market) is likely to recover from a global slowdown sooner and stronger than other markets.