A subsidiary of one of India's largest business houses, the client is a Global IT services company, providing end-to-end solutions to the financial services ecosystem. Recognized by NASSCOM as one of 100 IT Innovators 2007, the company serves Banking, Financial Services and the High Technology markets. The company has delivery centers across the US, Europe, Japan and India.
Since inception, Prayag’s client had been focused on the banking and financial services
verticals. In 2005, the company decided to diversify into other verticals to reduce
dependence on one vertical. Subsequently, during a strategic review exercise to chart
future growth plans, the company identified “High Technology” as a new focus vertical.
With ambitious growth plans for this area - $100 million in revenue over 5 years - the
company wished to evaluate the feasibility of achieving this target. In particular, it wished
to evaluate the potential of the Independent Software Vendor (ISV) market in the
Enterprise Solutions space.
Prayag was engaged to estimate the offshore potential for IT services in the High Technology vertical, including ISVs, and to recommend the necessary steps required to be taken to achieve the targeted growth.
To start with, Prayag team sharpened the scope of the engagement by defining the High
Technology industry. Then, using a combination of select primary research, secondary
research and Prayag’s proprietary internal knowledge repository, market potential was
ascertained. Market characteristics, competition activity and offshoring potential of the
High Technology and ISV markets were studied. Prayag teams interviewed senior management
from select companies to understand the industry trends and market potential.
Agile methodology was used for the study – Prayag would report the findings to the client
every day and this provided clarity and helped in refining the study. Though it involved
lot of iterations, the focus was not lost as the client was clear about what they wanted.
Once the study was conducted, Prayag formulated a strategy for the client to enter the specific markets – this included the potential services, market segments and opportunities that could be addressed. The report also included a go-to market strategy that chartered the steps to be taken in order to achieve the desired target growth.
Prayag’s research and recommendations provided the client with relevant insights and understanding of the High Technology and ISV markets. The company invested its effort, resources and focused on these verticals based on these recommendations, and is today well on its way to achieve its target.