Financial crisis opens up opportunities for IT outsourcing in Central and Eastern Europe

Over the last several months, the macroeconomic forecasts for Central and Eastern Europe have been radically revised. The global economic slowdown will translate into lower GDP growth in the region, which will affect the IT market too. Well aware of these developments, more and more enterprises revise their investment budgets in CEE. This is definitely not a collapse, but companies do look out for savings, also on IT services. Thus, they hold back new projects or choose to implement only the basic functionalities. As a result, IT companies record lower revenues and expect a potentially lower growth rate than forecast a year ago.
On the other hand, businesses, especially large corporations, spend majority of their IT budgets on maintenance and update of the existing IT systems, which in many cases are of key importance for their operations. Moreover, some IT projects are long-term investments, thus their abandoning could lead to extra costs and might threaten the competitive position in the long run. Thus, while not being able to completely stop using IT systems support, companies forced to cut costs will opt for outsourcing certain tasks and projects.

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