| |MAY 20178CIOReviewBy Suvrata Acharya, VP and Vertical Delivery Head, NIIT Technologies LimitedIN MY OPINIONI T market today is looking for directions to make application development cheaper without affecting the quality. Today the traditional offshoring model based on labor arbitrage is struggling to survive. Enterprises are adopting agile development along with automation and cloud based models to reduce the risk and cost. The focus is clearly on building a business model that is based on lean practices i.e. best use of effort and sharing of available resources. Indian Space Re-search Organization (ISRO) used this approach suc-cessfully to deliver multiple space programs in a cost effective manner. "Time Effectiveness makes us Cost Effective", is the success mantra cited by an ISRO sci-entist. Recently ISRO made a world record by launch-ing 104 satellites through a single rocket. This has helped them capture a bigger share of global space programs. The cost of ISRO's Mars expedition pro-gram is just $75 million, which is unbelievably low compared to similar programs executed by other global space agencies. ISRO is the most profit-able space center in the world because of its inno-vative cost effective business model. IT Industry NIIT Technologies Limited (BSE: 532541) is an IT organization, with customers in North America, Europe, Asia and Australia. It offers services in application development and maintenance, infrastructure management services, IP asset or platform solutions, and business process outsourcing to organizations in the financial services, travel and transportation, manufacturing, distribution, Insurance & Media sectors.Being Time Effective Makes Us Cost Effectivecan adopt a few of their best practices like focus-ing on cost-effectiveness, modular architecture, smaller size tests and many more, while manag-ing the cost and performance of the applications. Sharing Cost using Collaborative Consumption ModelToday, the biggest challenge in rapidly evolving business models is to define an architecture that supports it long term. Future business models will be developed as a combined effect of wearable, mobile, big data technologies and cloud comput-ing. For years, ISRO has adopted a business model which is focused on co-creation to achieve mile-stones. They have undertaken joint launch mis-sions with various space agencies to save the cost. They share cost by lending percentage area of pay-load to different space agencies. Today, the major growth sector is sharing economy that allows the optimization of resources through the mutualiza-tion of excess capacity. This model is flourishing because the con-sumers are demanding faster and low cost services. Design and development of the future applications will be based on Suvrata Acharya
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