I would like to share my experience on working with
different markets and regions. India is globally approved as the IT Hub or the
next Silicon Valley for software and software related services. With its vast
experience, India has a very well matured process that cans serve global
markets. For its experience most of Europe and US are well covered. With
thousands of Software companies registering in India every day, the job becomes
really tougher for bigger companies to penetrate existing markets further.
Thus, the Fast Growth Markets gets a key focus agenda for
any software company. But it is not as easy as what we speak and think, because
the matured processes that we have created may meet global requirements but
matured process alone will not help to tap business. It took years to build
confidence in US and Europe, similarly we have to repeat the same for Fast
Growth Markets
Each Fast Growth
Markets are different by itself.
India: has huge
accessibility for skills & resources but demands a tagline from American or
European market. Domestic products (or) service to meet domestic requirements
are very less encouraging. Even, if recognized the pricing become a tough task.
By nature Indians would like to negotiate a lot. It doesn’t matter what, even
if negotiation wins one rupee, it is considered a great deal. Most likely,
doing business with Indians and Americans are quite similar. You can open the
discussion with anyone. Like Americans, Indians are most likely to explore, get
educated, and to advertise their requirements but the decision will always be in
favor of American or European tagline, experience, brand and also a very well negotiated
deal.
Key Message: Co-selling
of best brand is a good way to start
Russia: This is a
closed market. Middle East and Russia are relatively similar. The demand here never
meets supply, because of this, there are always opportunity for software and
related services. For software and services market, Russia could be another US
or Europe story because most huge industries deserves digitalization but the
resources who could understand this transition are very minimal. The only
problem with Russia is language and conservative market. They do not encourage
foreign solutions; they highly encourage and approve local solutions. Most
business deals are likely to happen through community, seller and buyer are
very well connected. Like negotiation for India, Security becomes the key focus
for any business deals in Russia. They always expect a secured deal with the
very well know neighbor rather outsourcing to a stranger. They are ready to
wait instead to deal with the stranger. You have to be local and get local
Key Message: Register locally and employ locally, focus on
skill development
Middle East:
Middle East is half western and half Russian. Most recommending authorities are
either outsourced or resourced from India, US or Europe because of which they
are ready to explore opportunities but the decision making is conservative. More
than security, the trust, relationship and experience play a key role. In
simple terms, Middle East is a reference market. Even for a job, you need to be
referred. Your colorful presentations and innovative solutions will be heard
but to convert them as a deal, a strong local recommendation is must
Key Message: Explore
opportunities to work with domestic companies.
