NEW DELHI: "Indian companies should look at deriving new business models around software and it should not be just marketed as a product but as a solution. Getting software license for the code is just one part of the overall game. Companies can also look at a monthly annuity model revolving around solutions built upon products. This can reduce the initial investment on the customer's part, however, the engagement can be held for a longer period." Aditi Technologies chairman and CEO Pradeep Singh stated this at the panel discussion on 'offshore product development'.
Dwelling upon the software product development scenario in the country, Symphony Services India president Ajay Kela said that India has seen three waves of IT evolution and the next wave is definitely going to create internationally acclaimed software products from the country.
"The first wave was primarily focused on Indian companies servicing IT departments of global MNCs, the second wave was for the BPO sector and the third wave for US based companies to seriously look at India as an important outsourcing destination. Now the next wave would take India into the global IT product map and the country should move towards achieving that," he added.
Informing about the untapped domestic market for IT products, Aspire Systems CEO Gowri Shankar said that there is a dearth of fine-tuned software products for big public and private organizations in the country and Indian IT industry should fast tap this potential market.
"There are a lot of big organizations which develop software applications for themselves. Indian software industry should cater to this segment and develop scalable products for big private and public sector companies on the domestic front," he explained.
The panel discussion was a part of Nasscom's product forum exercise and attracted more than 40 participants from the Delhi region.