| | APRIL 202319What are the major drivers of Product Engineering Services in India?India has the capability and capacity to build high-quality products due to our technical competence and process culture built over the years in the thousands of tech shops here ­ this gives us a unique advantage while taking on the massive demand for digital product development. To properly understand the demand for product engineering services, just look to native digital companies that have seen explosive growth in valuation; in terms of timelines, they took only a quarter of the time brick-and-mortar companies took to reach a billion dollars - companies like Uber, Airbnb, and Netflix that have grown quickly to become powerful global brands. Brick-and-mortar companies like banks and telecom companies have vast cash reserves accumulated over the last century. There's going to be a pent-up demand to conceive and adopt digital products, and that is precisely the opportunity that India will benefit from in the next few years, leading to a doubling of its IT workforce. A major market that can be targeted internationally is Product Re-platforming ­ the digitization of existing products. This opens up opportunities for product managers to retain clients and onboard new ones. Apart from this, the vibrant start-up culture in India is another driver of the demand for Product Engineering. With the wide adoption of digital payments, 4G and 5G networks, and initiatives like Aadhar becoming mature countrywide, we have the propensity to absorb a lot more digital products in our market.So rather than focusing on the volume game of IT Services, focusing on Product Engineering will help many companies address the demand already flowing in. In recent times, I have also noticed an increased demand from private equity companies for such companies in India. So the opportunity is very real.How do you believe Product Engineering will transform the business landscape?Personalized services make all the difference when it comes to a successful business. Airlines are not just about flying planes ­ today, they also aggregate hotels, cabs, and insurance providers. So if personalization is a need that goes without saying, the only hope businesses have is to deploy digital technologies that can be pervasive for the right reasons. While ERP made enterprises more efficient in the past, web, mobile, RPA, and IoT made direct consumer engagement possible today, making it easier for clients to get what they want. If your technology deployment is better than the competitors - embedding personalization better - your business wins against the competition. Ride-hailing apps such as Uber and Ola are good examples of how persuasive technology can be and the technical skill required to implement said technology. These apps show the movement of vehicles through the representation of animated vehicle icons. It takes a robust underlying cloud infrastructure to make that happen in real-time. What's more, serverless architecture delivers accurate information for reaching a destination at the time it prescribes. This persuasiveness, achieved through personalization powered by Product Engineering capabilities, will change not only the business landscape but also product development as a field. It also lays the foundations for strong connections between enterprises and customers and vice versa.What are the opportunities that can be mined with Product Engineering?Asset maximization opens up numerous opportunities, and I believe it influences consumer behavior and consumption aspirations as well.For example, if I prefer high-quality organic fruits and vegetables delivered to my household, I could aggregate the agriculture business using a India has the capability and capacity to build high-quality products due to our technical competence and process culture built over the years in the thousands of tech shops
< Page 9 | Page 11 >