Boom Following the Gloom

I am inclined to believe that the ongoing global financial sector crisis is a great growth opportunity for the Indian IT service companies and more so for BPO companies.

The following alert from AMR Research confirms this thinking:

Despite the uncertainty and current economic gloom, these really are opportunistic times for the global IT and business process outsourcing industry. Outsourcing thrives on mergers, disruptions, corporate restructuring, cost-containment needs, and business changes. Additionally, tough economies have proven historically to be lucrative markets for increased outsourcing: remember the 2001 recession and subsequent deal activity.

The financial services industry is finally ready for that change, and our recent study of financial institutions and outsourcing services providers, taken over the last two weeks since the U.S. government’s bailout package, confirms this.

 - Opportunities Amidst the Gloom – The Financial Sector is Ripe for IT and BPO Services, AMR Research

Some Indian newspapers are trying to create panic by proclaiming “Doom! Doom! Doom!”, but it simply does not make any sense to me. I think they got one letter wrong