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VIRTUALISATION Satyam bucks US downturn, more IT business to head offshore?
VIRTUALISATION Satyam bucks US downturn, more IT business to head offshore? | Satyam bucks US downturn, more IT business to head offshore? |
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| by Stan Beer | |
| Monday, 20 October 2008 | |
  
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Downturns are times when businesses are looking to cut costs and Satyam, like Indian rivals TCS, Infosys and Wipro, is in the IT cost cutting business. The fact that Satyam was able to grow so strongly in a quarter where the US experienced one of the worst shocks in its financial sector's history, may well be an indicator that more IT services could be leaving the US and other developed nations and heading to lower cost offshore markets "The second quarter was challenging in many respects, as problems in the US financial industry affected other regions and sectors,” said Satyam Chairman and Founder B. Ramalinga Raju. “Despite this background, a heightened focus on operational efficiency, a comprehensive services portfolio and an ability to provide true transformation have enabled Satyam to excel." "In the second quarter, Satyam demonstrated its ability to succeed even in difficult economic environments, an indication that our strategies provide a comprehensive suite of end-to-end services in key industries and regions is effective," said Satyam Chief Financial Officer Srinivas Vadlamani. "While we anticipate some near-term difficulty as we move ahead, we are confident that our approach will enable Satyam to continue to thrive long into the future." |
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