Service providers cut down prices to navigate through COVID-19 crisis
COVID-19 crisis has caused financial distress as companies witness a downfall in their revenues with stringent cash flow. To manage this, they are holding off their critical projects, postponing investments, looking for discounts, etc.
Top MNCs like TCS and Infosys have reduced their sub-contracting costs, putting aside variable payments, travel expenses as a part of cost optimization measures amid crisis. SPs who understand this are preparing themselves to lower their costs to serve their clients in a better way.
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