Reinventing the Indian IT-BPM Industry in the age of robotics and automation
Today, automation and robotics are presenting the Indian IT-BPM industry with a tremendous opportunity—to lay a strong foundation for future competitiveness while creating exciting journeys for their workforce.
Indian IT-BPM companies are under increasing pressure to help global clients simultaneously solve both efficiency and new growth challenges. Historically adept at addressing efficiency challenges, Indian firms now need to mobilize and deliver on clients’ new growth priorities. Automation and robotics provide a powerful opportunity for Indian companies to systematically free their resources from mundane tasks and channel them into building new offerings. As a result, these companies will be positioned to offer more engaging prospects to engineers, analysts, coders and other employees, facilitating their migration from repetitive jobs into experimenting with cutting-edge technologies and next-generation software.
Many IT and business leaders are convinced about the talent-transformation opportunity at hand. The Accenture Technology Vision 2016 survey found that 52% of executives in India believe that within a five-year period artificial intelligence-driven automation will be seamlessly embedded into every aspect of business, a number much higher than their global peers (38%). In order to build towards this future and create a long-term role in the global economy, however, Indian IT-BPM companies need to aggressively address a number of short-term challenges:
- Insufficient understanding of automation technology–The technology acumen of clients in every industry has grown as a result of the recent digital revolution. As a result, would-be clients for the IT industry are starting to build thought leadership and perspectives on “new IT” that can sometimes surpass the Indian IT-BPM sector’s own understanding of that technology.
- Misdirected investment–This lack of a strong position on the future of automation technology manifests not only in the ability to secure new deals, but also a second challenge that directly affects where Indian IT-BPM companies are making investments. Many companies that failed to sense their clients’ rapid transformations are now strapped with traditional assets and technologies. The confusion around what to keep and what to jettison must be resolved in order to reorient their portfolios in this day-and-age of automation and robotics.
To overcome these challenges, Indian IT-BPM companies must-
- Focus internally– Their own talent pools are the best mechanism to influence, design, build and deploy innovative solutions. But to do so, companies must equip their people with the right technical knowledge, analytical skills and business acumen. In particular, Indian IT-BPM companies should take a holistic look at the disruptions and shifts happening in the overall digital economy.
- Know customer businesses– They must also study the investments their biggest clients are making, and begin to develop distinct perspectives about automation and robotics.
- Change workforce mindsets– On a more tactical level, IT executives should initiate a change in the workforce mindset. Executives and individuals across the organization must view automation and robotics not as a threat, but rather as an immense opportunity to improve their own jobs, as well as the business growth of their companies and clients.
- Be collaborative– However, no company should expect to confront this new future alone. To begin transforming, Indian IT-BPM companies should look to collaborations as an effective way to adopt new automation and robotics platforms. Strategic alliances can give major companies the flexibility to experiment and drive innovative solutions without disturbing core operations. Start-ups give larger companies a competitive advantage with access to differentiated technologies and greater risk-taking ability. In return, niche companies and start-ups obtain access to capital, as well as global exposure and clients.
The disruptive impact of automation and robotics is embedded in how it is transforming the nature of work, and as a result, the activities of entire organizations. Today the global economy is rapidly evolving, built not just on the labor and output of humans but increasingly that of machines as well. Considering how pervasive this change is, Indian IT-BPM companies can seize this as one of the most immediate opportunities to pioneer new technologies and strategies of great importance and value to global clients, and in the process build a new identity for the Indian IT-BPM industry.
To know more on how Indian IT-BPM companies need to reinvent themselves in the age of disruption, stay tuned for the upcoming NASSCOM study – Reinventing to Disrupt: Shaping a New Identity for the Indian IT Industry.