With the economic dowturn having maginfied into a full-blown recession, there is little, if no tolerace any more for resource wastage when it comes to IT and software projects.
As well as the above clip, here's another example from the UK Times Newspaper, in this headline from February 2009:
To summarize, the article comes to a number of conclusions:
1. The cost of most large IT projects is ballooning. The UK Government admits that only about 30 per cent are completed on time and on budget.
2. The UK Government will spend more than £100 billion on IT over the next five years, according to Kable, a public sector research company. Since most projects overrun, the actual amount spent could be much higher.
3. The main suppliers, EDS, BT, Capgemini and Fujitsu, reap hundreds of millions in profit. Accenture, one of the smaller suppliers, earned a profit margin of at least 30 per cent.
To me, these points show that there's a potential for vendors that are offering smarter (i.e more cost-effective) ways to meet the objectives of their client's IT projects.
That's where Magic Software's products begin to really stand out from the rest.
Magic Software produces technology designed to accelerate the process of building, deploying and integrating business apps. Part of this is also the ability to rapidly customize apps to efficiently meet changing business needs.
In short, the company aims to make IT project delivery easier, cheaper, and more accurately meet business requirements. And that's exactly what businesses and people are looking for today.
Our next job is to explain exactly how Magic Software achieves these tasks. Next time..