Sweden-based Otivr To Connect Tech SMEs To International Market
In future, the set-up may also prove to be a key in impeding or even reversing the brain drain from the country as the talents will get a fair chance and visibility in the international market within a domestic framework
For the first time in India, Otivr, a Swedish tech company has launched an integrated platform for the mid-sized talented, high-quality and certified IT suppliers (SMEs) to enhance their exposure in the international market. The idea to digitise the B2B partner search through an open and transparent marketplace clicked well with the opportunity-starved mid and small sized Indian IT sector, the company said.
Otivr CEO Ricky Dhillon says the company is in an exciting phase with about 100 quality assured suppliers with 10,000+ professionals attached to the platform and is in launch of the marketplace towards buyers in the Nordics. Otivr is currently focused on the Nordic market towards the buyers but will start viewing at expansion towards other European markets during 2018, he says. Total Nordic IT spend on IT Services and BPM is $25 billion1 of which Otivr would like to gain 1% transactions share of $250 million. Remaining market potential is to scale the business globally.
Commenting on the initiative, Dhillon, CEO of Otivr said: “Despite tremendous IT potential and a huge demand in the foreign market, there is no structured way to search for high-quality suppliers of IT consultancy services in India. This not only reduces trust in this segment but also the business opportunities for mid-sized and talented IT suppliers. Otivr addresses this challenge through its open marketplace which helps buyers take informed decisions while it gives the suppliers a global reach. With this platform, we aim at safeguarding trust, quality and transparency between the parties in the global IT outsourcing market”.
As per a report 'Sweden a key driver of Nordic ICT growth' by the industry body Nasscom, with factors like large spending on IT services and high rate of innovation, Sweden is perfectly coordinated to become a key destination for Indian IT companies. This is why, experts suggest that Otivr being a Sweden based company and India at a perfect position to leverage upon its international standing, gives further edge to this endeavour.
According to Nasscom, Aranca Research4, with 52 per cent market share, at present India is a leader in the global sourcing IT industry. The Indian IT market is fairly mature and developed by international standards with exports making the bulk of the turnover accounting for about 60-70 percent of the Indian market. Giving the immense potential of mid-sized IT players, their exposure in the international market will ensure a faster and more balanced growth in this sector.
In future, the set-up may also prove to be a key in impeding or even reversing the brain drain from the country as the talents will get a fair chance and visibility in the international market within a domestic framework.
Vineet Garg, Business Unit Head for ICT & CleanTech at Business Sweden, says “Small and medium sized Indian IT suppliers and their brands don’t get a high level of visibility outside India, through Otivr high-quality suppliers get a chance to label their own services and broaden their customer base.”