Asia IP

Creating, managing and monetizing intellectual property is expected to drive the Indian IT-BPM industry in the coming decade, according to a KPMG-Nasscom report.

The report observed that key challenges the domestic IT-Business Process Management companies face include talent management, lack of opportunity identification and issues with the legal ecosystem.

“The industry searching for its next big growth engine and technology leaders agree that the next phase of business models could be driven by the rise of SMAC (social, mobility, analytics and cloud) and the convergence of technologies,” said in the report released at the Nasscom India Leadership Summit in Mumbai.

Gary Matzusak, global chairman, technology media & communications at KPMG said “intellectual property is critical in a world economy that is increasingly dependent on innovation. It is the only legal way to convert innovation to money-making asset and is therefore fast becoming the most valuable asset for successful companies.”

“Indian firms should look at creating business models driven by effectively leveraging and monetizing these IP capabilities and target the global product market,” Matzusak said.

Stated in the report, the Indian IT-BPM firms have achieved only limited success in the field of IP, their growth having being initially driven by the cost advantage over North American and European destinations.

In the past decade, Indian firms have acquired the scale and skills necessary to deliver large scale, complex transformation projects. However, the vast majority of these projects are linear in nature, with their revenue directly linked to resources. As far as IP is concerned, most Indian firms are at an initial stage of IP development, said the report.

The Nasscom India Leadership Summit, held from February 12 - 14, 2014, welcomed over 1,500 delegates from the world, discussing under this year’s theme “Crafting Digital Enterprises”.

Nasscom is an premier organisation that represents and sets the tone for public policy for the Indian software industry.