Midsize Cos. Thrive Through IT Investments

by CXOtoday Staff    Jul 23, 2009

According to a global study released by IBM, even in tough economic conditions, over 50% of Indian mid-market business decision-makers (including COOs, CFOs, CIOs etc.,) expect their IT budget to increase in 2009 versus last year.

The majority of Indian companies surveyed cited supply chain management (SCM), information management and security management as critical business priorities for improving business performance and efficiency. Most midsize companies are also increasingly entering into strategic tieups with IT providers to achieve success.

According to the study, even in today’s unsettled global economy, midsize companies continue to innovate and grow through technology investments in India. This is especially true in growth markets where IT budgets have been left largely intact.

"Midsize companies in India are constantly innovating while deploying resources to create sustainable business value. They are investing in the future making changes and taking risks to survive, compete and thrive," said Ramesh Narasimhan, director-general business, IBM India/South Asia. "In today’s globally integrated economy, it is necessary to enhance customer relationships and collaboration, and to create efficiencies across supply chains and core business operations."

The study is based on a study of about 1,879 business and IT executives at companies  with  between  100  and 1,000 employees across industries and in 17  countries  including  India, Australia, Benelux, Brazil, Canada, China, Germany, France, Italy, Japan, Malaysia, Mexico, Russia, UK, and US.

As per the study, 70% of those surveyed indicated that they prefer to partner with an IT company who has expertise in their business to help them work smarter, while 67% look for partners that can provide the highest quality IT infrastructure solutions.

Improving efficiency and productivity, improving customer focus and sharpening business agility emerged as the leading business challenges in the study.

Globally, the IBM study shows that despite the current economic environment, a large percentage of organizations are rethinking, not reducing, when it comes to budget - with fewer than four in ten are actually reducing their IT budget.