g tech info training ltd Management discussions

INDUSTRY OVERVIEW

Global GDP in FY 2023 was affected by the Russia-Ukraine war and resultant dislocations in supply chains, leading to surging food and energy inflation. Central banks raised interest rates sharply in response. As a result, the global GDP is estimated to have grown at a more subdued 3.4% in 2022, versus 5.9% in the prior year.

Global technology spending on Enterprise software and IT services crossed the $2 trillion2 mark in 2022, growing 5.5% YoY. IT services grew 3.5% YoY, to $1,250 billion. This growth was led by accelerated cloud adoption, preference for external expertise due to severe talent scarcity, and expanding scope of digital transformation to cover more back-office operational areas

The global IT services industry continues to be a highly fragmented one, with even the largest provider having a midsingle digit market share.

The outperformance may be attributed to market share gains resulting from longer-term, purpose-driven partnerships with its customers, its agile organization structure, and a very stable management team; its investments in organic talent development, research and innovation, intellectual property and in building newer capabilities that have helped expand wallet share with clients; and better execution resulting in greater customer satisfaction.

BUSINESS OVERVIEW:

The main business activities of the Company is servicing of all brands of computers, laptop, tab, hardware & software etc. The Company is low-cost specialist repair services for all brands of laptop/iPod & notebook in India. The Company expects better profit margin as it is veteran in servicing all brands of Computers, laptop, tab, etc. and it h as targeted customers b ased in western part of India. The Company is in process of tie-up with various e-commerce/on-line portals to trade their products through the Company platform, which can easily penetrate into Tier II & Tier III towns/cities of India. The Company faces heavy competition from organized/unorganized sectors & from China, both in terms of cost & wider customer based. The Government has initiated various projects, wherein more job opportunities have been created, thus resulting into more demands of laptop & notebook. The younger generations are more inclined towards laptop & notebook for higher data storing capacity, easy viewing, faster net surfing & handy to use. The growth in the sector is very good and Management expects better results in forth coming year. With the introduction of GST should see a level playing field between your company and other companies who are tax-exempt.

The company leverages all these capabilities and its deep contextual knowledge of its customers businesses to craft unique, high quality, high impact solutions designed to deliver differentiated business outcomes. These solutions are delivered using its Secure Borderless Workspaces (SBWS ) operating model which enables a highly distributed, Location Independent Agile delivery.

Revenue in the Business Process Outsourcing market is projected to reach US$6.19bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2028) of 10.96%, resulting in a market volume of US$10.41bn by 2028.

MARKET OPPORTUNITIES

Business scheduling with multiple workflows creates lucrative opportunities in market

Automated workflows were previously only available to wealthy businesses with the funds to invest heavily in sophisticated CRM and ERP systems. However, the development of cloud computing has flipped this idea on its head. People began automating their intricate workflow processes to achieve process integration as technology developed, which aided them in working more quickly and efficiently, leading to market expansion.

Personalized outsourcing allows market expansion

A developing trend in the sector is to offer customers the freedom to select the services they require rather than selling a service package that fits all customers. Giving personalized services as an option helps businesses stand out from the competition and enhances the customer experience. Most BPO companies offer a generic package of services. Customers should be able to overcome challenges unique to their industry with the help of providers specialized solutions, which further allow market expansion.

RESTRAINTS/CHALLENGES

Increasing worries about data security and privacy limits growth

Many people are curious about how BPO companies handle data security because it is now more critical than ever. Although business process outsourcing is growing in popularity, many companies are concerned that hiring a third-party BPO company may jeopardize their data security. Additionally, people are reluctant to switch due to concerns about their privacy and personal information leakage, which limits the market.

A high rate of turnover restricts market

Business process outsourcing (BPO) attrition has a disastrous impact on the organization. The high attrition rates significantly increase the organizations costs. An organization or businesss resources, such as time, recruitment, training, and orientation costs, are depleted as more people leave it. Thus the organizations productivity is negatively impacted by the high attrition rate.

This business process outsourcing (BPO) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business process outsourcing (BPO) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Place: Mumbai	By Order of the Board of Directors
Date: 05/09/2023	For G-Tech Info-Training Limited

 

Registered Office:	Sd/-	Sd/-
Office No. 1, 1st Floor, Laura Building,	Sangramkumar Das	Gautam Mohite
Near Metro Cinema, Marine Lines,	Managing Director	Director
Mumbai 400 002	DIN: 05235448	(DIN No.: 07703344)
CIN: L67120MH1994PLC080449
Email: gtechinfoltd@gmail.com
Website: www.gtechinfolimited.com