The New Wave of Technology
By Roman Trakhtenberg, CEO, Luxoft
Challenges in Technology
We are the technology providers for enterprises, not sure whether we can comment on behalf of clients.
“Furthermore, there has been a drastic shift in the mix between the apportionment of hardware and software that is responsible for success of a given enterprise or a given product/service offered by this enterprise”
If we could, I would say that the current legacy infrastructure (even relatively new items implemented only several years ago are already largely obsolete due to technological improvements moving with the speed of light), which is putting a great strain on companies today. Legacy apps and hardware that are unable to accommodate new technologies of today, including digital, spanning across mobile, social, cloud, internet of things, etc, as well as unable to transmit and process data in the new ways (i.e. Blockchain) are bottlenecks for enterprises of yesterday who want to become enterprises off tomorrow faster.
Furthermore, there has been a drastic shift in the mix between the apportionment of hardware and software that is responsible for success of a given enterprise or a given product/service offered by this enterprise. Success of a given product or service more and more depends on virtual factors and software embedded into that product or accompanying a service. Tangible aspects, such as physical branches or physical equipment / hardware are becoming less and less important to the consumers and, therefore, to the companies of the future. With that, shortage of quality software development capabilities is quite apparent. Any company in any industry must be also in the business of technology in order to keep up and implement all of the improvements that end consumers of today would like to have at their fingertips. This is another strain on the enterprises that either have to build massive IT departments of highly qualified individuals or outsource software development capabilities. Therefore, technological progress is putting pressure on companies in terms of being innovative, being capable to support changes to legacy systems in their budgets, being quick to market with those changes, and being quick to find the necessary talent.
360 Degree View of Customer Experience
3) What specific types of technology will give leaders/ players within your industry the competitive edge?
Again, this is a question for enterprises and not for software development solutions providers. The specific technologies that we believe the leaders need today, among the vertical in which we are playing, are as follows:
Financial services – visualization of data, artificial intelligence, digitalization, machine learning, mobile, big data, internet of things
Automotive – various digital technologies: HMI, computer vision / augmented reality, internet of things / big data, mobile, cloud, social
Telecom – mobile, software defined networks, cloud, network function virtualization, IoT / Big Data, testing and assurance measurement technologies
Technology, manufacturing, retail, precision agriculture: IoT, big data, mobile, machine learning, HMI, visualization, social, cloud
Technology Trends of Luxoft
All of the above that I described, every enterprise we serve has unique pain points but in the aggregate among 150+ client base that Luxoft has the above technologies are the ones in most demand.
How technology is revolutionizing the work environment
Currently our clients in the financial services are facing competition from a completely new cluster of companies, such as Google, Facebook, BitCoin and others. Digital banking or Bank 3.0 concept is shaping up and gaining popularity fast. Brick-and-mortar banks and even investment banks need to update their technology infrastructure and implement new ways of doing business to successfully compete with these new categories of players in the financial services field.
Digital technologies, including location based technologies, biometric technologies and of course mobile, cloud, and others are becoming required rather than optional features in all cars, not just select premium models, as it was before. Anything that increases safety on roads and decreases amount of destructions to the driver is becoming a must and industry standard rather than nice to have feature development budget for which was sitting in the discretionary item category.
Improvements in Transformation Efforts
Luxoft has implemented many improvements in our relationships with customers to drive and elevate them to a new level. We have several transformational engagements with global multinationals in which we share outcomes with our clients, engage directly with the heads of business lines, replace or extend their internal IT totally seamlessly; we innovate and co-invest into R&D efforts together with our clients; we believe that managed service relationships are the future of IT Services industry allowing the most optimal division of responsibilities allowing each party to concentrate on what they do best – management running the business and providers delivering on IT engagements with the utmost quality and care on time and on budget for the benefit of al parties involved.