The recent economic slowdown, which affected companies of all sizes, across sectors and geographies, has brought about certain irreversible changes in the global market place. Many experts believe that the world economy has not just been hit, but actually been ‘Reset’.

Some sectors like financial services and retail have traditionally been pioneers in technology deployment, while sectors such as power generation and distribution have taken a more conservative approach.

Global sourcing, especially of technology and IT-enabled Services, has emerged as a model successfully leveraged by large enterprises the world over. For the SME sector, however, it is innovations such as cloud computing, software-as-a-service and simple desktop collaboration tools that would be the enablers. This presents a significant new opportunity for service providers who have solutions targeted towards small and medium businesses.

In addition to the technology options, innovation in terms of customising technology solutions for different businesses is another growth area, as it takes into consideration the business success factors and provides a solution to address those specific pain-points. Innovations around the areas of marketing and sales, service delivery, partnership models, and others will help service providers identify and deliver new solutions.

This new ‘IT’ - Innovation and Technology – will be the business growth drivers in the reset economy.