New Delhi: IT services firm Cognizant Technology Solutions has said it sees a silver lining in the financial crisis and plans to capitalize on it.
“I think any kind of economic slowdown creates opportunities for those who focus on them,” Cognizant CEO Francisco D’souza told PTI.
“We do believe that there are opportunities in the slowdown. One of things about slowdown is that it changes the rules of the games and if you understand those rules then you are able to capitalize on them. I would very much say that there are opportunities and we are focused on how to capitalize on them,” the 39-year-old India-born CEO said.
Francisco, who was also a part of the company during 2001, when the technology bubble bursted, however, feels that the slowdown is going to have less impact on technology spending this time than it had in 2001.
From the Cognizant viewpoint, the 2001 slowdown perhaps had more direct impact on the technology spending because that was precipitated by the bursting of the technology bubble.
“This time, the slowdown is such that though there are impacts on technology spending, I view it as less intense than 2001 slowdown,” he added.
Talking about the challenges faced by companies worldwide he said, “There are two kinds of challenges that our clients are facing now - the first set of challenges are the ones that are caused by the economic environment.
“The second set of challenges are the ones that the companies in sectors such as life sciences, media and entertainment and others are facing...periods of very rapid structural changes where the basic structure of the industry is changing.”
Both these two trends have potential opportunities for Cognizant, he said adding, “We just have to be correctly tooled and correctly positioned to take advantage of these opportunities.”