By Sandeep Kalra EVP and GM- Software, Product and Platforms division, -Symphony Teleca
The convergence of software, big data, social media, devices and cloud is causing unprecedented disruption across all industries. Corporate giants like Blockbuster, Borders and Kodak have often been cited as examples of this after crumbling in the face of competition from Netflix, Amazon and Shutterfly respectively.
In a world where there are more mobile phones than toothbrushes, where social media can bring down mega corporations and governments, software capabilities are no longer a nice-to-have; they are essential for survival and growth. According to Forrester, "Every company is becoming an ISV, and software is becoming the brand."
We believe the Outsourced Product Development (OPD) market is poised to grow exponentially in 2015 due to three megatrends:
1. Traditional companies are transforming into digital businesses
2. ISVs and technology companies are racing to make their products cloud, mobile and social media ready
3. New software, Internet of Things (IoT)-enabled businesses and infomediaries are disrupting value chains across industries
Most organizations (including traditional IT service providers) are lacking the necessary skills and mindset to enable complex, high velocity, mission critical programs. As a result, they will look for partners who can help deliver highly complex, bespoke product development programs. These require a product-centric approach and a broader portfolio of skills that include global agile development capabilities, user experience, integration and ability to design extremely secure and scalable architectures.
OPD specialist firms are uniquely positioned to deliver value in this shifting paradigm toward more open, innovation-driven models.
Symphony Teleca's product centric DNA and comprehensive capabilities across software, data, device and cloud puts us at the forefront of this changing ecosystem.
ISV 2.0 - Symphony Teleca works with over 50 leading ISVs and Infomediaries across product transformation, testing, sustaining and modernization to cut time and cost to market for highly intuitive, mobile enabled and cloud ready products and platforms.
Making connected car a reality-Partnering with major automakers on M2M analytics, embedded software, infotainment, we are the only services company in the Open Automotive Alliance.
Redefining Healthcare - We partner with leading Healthcare ISVs, Medical Devices and Data-as-a-service providers to enhance and modernize their products and platforms. Currently, we are helping a leading healthcare insights provider manage more than 4.5 Petabyte of claims, clinical and pharmaceutical data that covers over 260 million patients, enabling the company to provide critical insights to more than 100 bio-pharma companies.
Retail and CPG - We work with a number of leading retail/CPG-focused ISVs as well as leading retail analytics providers. Our customers help more than 95 percent of Fortune 500 retailers and CPG companies with next generation software, gain powerful market and shopper insights and leverage predictive analytics.
The OPD space is constantly changing and while best practices from the past can certainly be a huge advantage for providers, organizations must evolve to become more flexible to fit today's market need. Whether it be co-investing in a product line or growing an internal practice to better deliver on next-generation technologies, OPDs must innovate to stay relevant. We have strived to stay ahead of competition consistently by augmenting our traditional software design expertise with deep analytics and data management expertise. We have also made strategic acquisitions to help build out our service offerings, these include the merge with Teleca to enhance our mobile and connected devices capabilities and the recent acquisition of Aditi Technologies to enhance our cloud capabilities.
According to IDC, up to one-third of the top 20 companies in every industry will be challenged as new or existing entrants use mobile, social media, cloud and analytics to change the pricing or processes of the industry. Companies who understand this and act on it will rise; those that don't will have a hard time staying afloat.
Marc Andreessen's famous 2011 proclamation that "Software is eating the world" was even more true in 2014. We believe that customers will increasingly seek out specialized partners, such as Symphony Teleca, to drive innovation at this physical-digital convergence and drive business outcomes.