I recently had the opportunity to speak at three conferences in Prague, London, and Vienna. These conferences were focused on the Business Services and Insurance industries, and I was able to learn about some of the latest trends and developments in this field.
1) IT Outsourcing companies need to specialize.
One of the biggest trends I observed was the increasing importance of IT outsourcing for companies in industries outside of technology. For example, insurance companies are using IT outsourcing to accelerate their IT transformation and take advantage of new technologies like artificial intelligence and machine learning. This is helping them to improve their customer experience, streamline their operations, and gain a competitive edge. It makes a lot of sense, for companies who do not have IT at their core, to leverage existing expertise to enable their digital transformation, while focusing on their product design and CX. But this only works if the partner of choice understands the dynamics of that industry and can fully support the transformation. In other words, if you are about to choose your next outsourcing partner, make sure they clearly specialize in your industry.
2) The age-old question of build or buy survives…and many choose to build.
Another trend I noticed was the growing demand for flexible and scalable IT outsourcing solutions. As companies face increasingly complex and dynamic business environments, they need IT partners that can adapt to their changing needs and provide solutions that are flexible and scalable. At Damas Engineering, we are well positioned to meet this demand, thanks to our agile approach and our commitment to continuous improvement. There are some things that are core to a company transformation and its value proposition, so it makes sense to build those platforms, experiences, and solutions in-house, with the help of a, trusted IT partner. To build or to buy is a question companies ask themselves very often, especially while executing a digital transformation. Building something in-house might not be as fast, but it can secure the success of your digital value proposition if you chose the right transformation partner.
3) Gone are the days of Business vs. IT. For good this time.
Finally, I observed a strong focus on innovation and collaboration at these conferences. IT outsourcing providers are working closely with their clients to develop new and innovative solutions that can help them overcome their challenges and achieve their goals. This collaboration is crucial for driving progress and ensuring that companies in all industries can take advantage of the latest technologies and stay ahead of the competition. The blend between business and IT is ever stronger, so it becomes paramount for IT providers to understand the industry of their partners and better accompany them through the transformation journey. Business *is* IT and if some legacy setups are still clinging to a stricter vertical organization, the success of their digital transformation will greatly depend on their ability to bring down these virtual organizational barriers.
In conclusion, many industries are undergoing some exciting changes, and companies across the globe seem to face very similar challenges when it comes to their digital transformation. Finding the right partner to address the themes above is a must especially for medium and large corporations, as they execute very complex investments in their IT. At Damas Engineering, we are committed to staying at the forefront of these trends and helping our clients accelerate their IT transformation and achieve their goals.
What are your thoughts? Are we at the dawn of another large outsourcing wave, or is the blend between IT outsourcing companies and their clients going to be even stronger to enable new levels of transformation?
Let us know at email@example.com
CEO Europe – Damas Engineering