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How Customer Expectations are Changing for Entrepreneurs
Puneet Jetli, president and Co-CEO of the wonderfully-named company Happiest Minds, recently shared some thoughts around the subject of customer expectations and entrepreneurs.
Specifically, as he put it, “customer expectations are changing,” and entrepreneurs need to catch up. This isn’t a new message, but Jetli has some valuable insights to add to the ongoing discussion.
Disruptive technologies, as he says are always good opportunities for the industry. And whereas grizzled old-timers still sit around campfires at night talking about the Internet revolution in the late 1990s, Jetli sees a new wave around what he calls the "consumerization of IT.”
As in what? As in cloud, mobility, social computing, and analytics and security being technologies “seeing increased attention and investment from the enterprises.” Any one of them would be killer disruptive on their own, but Jetli sees “the combination of more than one of these technologies” as leading to genuinely innovative offerings and business model disruption.
“Analytics, social CRM, customer loyalty, and SaaS (News - Alert) based business process products have a direct impact on business,” he says, “and hence have to be conceptualized and pitched to the business managers.”
Coupled with all that, Jetli notes that the macro-economic environment around us “will drive the expectations of clients from their IT service providers. This in turn will influence and shape our industry.” A few brief points here -- flat IT budgets will force IT providers to deliver more value, offshoring to lower cost and access qualified talent for high quality work will no longer be sufficient. So cost reduction will be important, and service providers will need to help businesses increase revenues, drive differentiation, build customer engagement and advocacy and improve effectiveness.
Jetli also sees the increased adoption of Cloud and SaaS-based solution/services offerings to eat into the traditional revenue streams from application management of legacy applications: “This will push IT industry to discover new sweet spots.”
He notes that “without exception,” his company’s global clients are “shifting their attention to the emerging markets to pursue growth,” and as he reads the tea leaves, he finds it “inevitable” that the IT industry will focus on these markets as well.
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David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
Edited by Juliana Kenny