IT business plan helps the entrepreneur to understand, to visualize, to plan and to identify risks even before making any investments in the business. Preparing a business plan involves detailed research so that all the aspects of the given business is evaluated and appropriate decisions are made. IT industry creates the revenue of more than $155 billion to the country and the industry contributes to 7.7% of the GDP. Even though the industry highly competitive, the top five companies contributes to 25% of the total revenue, India’s cost competitiveness, three to four times cheaper than the US market, has the major advantage and the reason for several IT start-ups being set up every year.
The sector is growing at an annual growth rate of 12-14%. The major requirement in starting an IT firm are like programming knowledge, technical support and marketing skill. Major expenses will be on land, building, infrastructure, salaries, computers and equipment, software and legal requirements and license, insurance, advertising and marketing.
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All organizations are made up of group of capabilities that are coming from People, Processes and Systems. These capabilities are working together in a seamless manner to deliver the requisite capabilities to the customer. The various capabilities that need to be addressed in a IT business plan are given below:
President, CEO, CFO, administrator, developers, programmers and software testers, system analyst, program analyst, project leads, technical head, project managers, business analyst, HR manager, and more based on the projects managed.
The major process are web developing, software coding, system integration, client support, technology development, research, outsourcing, project delivery, implementation, infrastructure development, storing, retrieving and analysing data or information, data analytics activities, identifying client requirements, creating optimal solution, communications via email, phone and video conferencing, business intelligent activities and business analysis activities. Other business activities are like hiring, firing, accounting, payroll, finance, marketing and advertising.
In an IT firm, required systems for the business are like computers, software and hardware, audit system, CRM, partner management system, development and testing infrastructure, internet, telephones, refreshment and recreation set ups, networks and other office utilities.
Most of the businesses have professional bodies across the globe and being associated with these organizations tremendously helps in understanding the current trends in business. Some of the professional bodies are listed below for your reference:
NASSCOM NASSCOM Plot 7 to 10, Sector 126, Noida – 201303
Software & Information Industry Association1090 Vermont Ave, NW Sixth Floor, Washington DC 20005-4905
RUSSOFTInnovation Technology Center, Birzhevaya line 16, St.Petersburg, 199034, RUSSIA
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