TROY, Mich., April 8, 2013 (GLOBE NEWSWIRE) -- Clients look at capabilities as a deciding factor for choosing vendors and partners in the highly competitive Information Technology and Knowledge Process industry. Syntel (Nasdaq:SYNT), a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) services, believes this fact of life and business is here to stay.
According to Syntel CEO and President Prashant Ranade, "IT clients have a sophisticated and nuanced view of the value that their partners can bring to the table, which extends well beyond the size of their revenue or number of employees. A partner's capabilities are not determined by the size of the partner."
He also pointed out that the $2 Trillion global IT industry is fragmented, with no single player holding even a double-digit market share.Ranade indicates that Syntel's strategy to address this market opportunity is to "focus on selected industries and service lines, invest heavily in IP and industry solutions, and ensure that clients receive the best service possible. At each client organization, our goal is to be known as the best partner, not just the biggest." This view is endorsed by analysts and industry experts. In a Wells Fargo Securities research report on the IT industry dated February 25, 2013, Analyst Edward Caso wrote, "We see a re-definition of Tier I and Tier II. The old definition was based on size. We now believe clients' increased sophistication and desire for more from their providers has led to a new division in the minds of buyers."