eCommerce is generally defined as the buying and selling process of products and services over the internet in a virtual market space. The growing phenomena have been making day to day matters much easier for a lot of people around the world for the past decade and have opened multiple revenues and business opportunities to many businesses.
From its modest beginnings nearly four decades back, Sri Lankan Knowledge Services Industry has found its niche in the global market as one of the reliable and innovative digital solutions providers for small to large scale organisations and businesses around the world.
A combination of local and global terrorism, political turmoil and natural disaster saw the local, as well as the global economy, slowing down compared to the year 2018. Sri Lanka registered a GDP growth of 2.8% during the last year against 3.3% recorded in 2018, while the global GDP also grew at a subdued rate of 2.5%, mainly due to Chinese and the USA trade tension and low growth recorded in the EU and Japan.
The Export Development Board organized a Tech Pavilion for the 4th consecutive year at the INFOTEL exhibition with the intention of providing an opportunity for ICT companies & startups to promote their services/technologies and to meet both local and foreign clients. The companies/startups who exhibited at the exhibition commended on EDB efforts and said that they were able to gain exposure in the ICT/BPM industry and that experience can be leveraged to develop their business models.
Cisco Systems Inc said it is rolling out hardware for the next generation of Wi-Fi standards, giving a core part of its $28.2 billion infrastructure business a refresh and in the process aiming to garner more software revenue.
Today, with cybercriminals operating like a penetration tester in the way they scope out the network probing for vulnerabilities and weak entry points, those responsible for IT security will once again need to adjust their strategy and defences. The Sophos 2019 Threat Report detailed how criminals are now “staking out” victims, moving laterally throughout the network, manipulating internal controls to achieve their objectives stealthily.
Another successful implementation of the National Budget 2018 though ‘IT Initiative’, marked with the inauguration of the Training Program in Fundamentals of Data Science was held on 29 October, at the Senate Hall of University of Colombo.
Come 2022, earn US $5 billion in annual revenue; create a total of 200,000 direct jobs; help launch 1000 ICT/ BPM startups. By any standard, to borrow Jim Collins’s phrase, it’s a Big Hairy Audacious Goal (BHAG) in a national context, but, in the opinion of industry veterans, it’s quite within our reach. Sri Lanka Association of Software and Service Companies (SLASSCOM) that came up with this bold vision in 2016 too believes strongly in the country’s ability to realize it.