IT Companies Making the Most of the Economic Recovery

by Sam Perry on January 26, 2010

A December 2009 survey by McKinsey Quarterly noted that, although the recession has not spared IT, companies are increasingly looking to IT for strategic success in a time when they are being asked to do more with less.

While IT-based companies are faring better-than-average, some companies are making the most of the road back from rock-bottom. The most successful IT companies are realizing that they can grow as the recession eases-up by selling IT solutions to traditional companies trying to recover, ramping-up green initiatives, and gaining greater efficiency.

So which companies are prospering? Here’s a selection of IT firms that are growing while other companies continue to issue pink slips:

most_economic_recovery_ibm_modisThough still seen by many as yesterday’s IT brain trust, last year, IBM actually grew 8.7%. In its last fiscal year, IBM registered more U.S. patents than any other company in America. Despite the economic downturn, it was the 15th year in a row the company had done so.

most_economic_recovery_accenture_modisThe software and management consulting company grew 21.4% last year, to 178,000 employees worldwide. The company generated revenues of US$19.70 billion the previous fiscal year.


Still the place to be, though some employees warn a war over control of divisions has started from within after a wave of hiring of middle management that long-timers feel is out of step with the company’s original free-thinking culture. Overall, Google is still riding a wave of success, continuing to hire and to grow.

Tata Consultancy
most_economic_recovery_tata_modisThe IT outsourcing giant grew 36.2% last fiscal year, topping more than 350,000 worldwide employees. Rising revenues are likely the result of increased outsourcing of IT services to outside companies, and countries.

most_economic_recovery_apple_modisRanked as one of Fortune magazine’s most-admired companies for 2009, Apple Inc. continues to rank high on a number of national surveys for innovation, employee talent, quality of product and best use of corporate assets. Profits are up and expected to rise on release of the new Apple tablet.

Weta Digital
most_economic_recovery_weta_digital_modisEveryone is going to movies, more so than any other year, despite the dire economy. It doesn’t hurt that the Kiwi CG upstart recently did the effects for Avatar and the upcoming Spielberg-directed Tin Tin movie, after finding success with the likes of the LOTR trilogy, Jumper, and District 9.

most_economic_recovery_wipro_modisWith staffing up 40% recently, the technology-driven business solutions company boasts 75,000 employees. Wipro bills itself as the world’s largest independent research and development services provider: Not a bad gig when companies looking to outsource R&D come calling.

most_economic_recovery_twitter_modisA year ago, it was the 39th most popular site on the web. Today, it’s #14 (#13 in the U.S.) Twitter is by-far the smallest company on this list (believe it or not, it only has 156 employees) but its growth throughout the economic downturn has been dramatic: Doubling its office space to 65,000 square feet in anticipation of more-than-doubling its workforce to 350, with 23 current openings set to create a 15% increase in staff size in the coming weeks alone.

most_economic_recovery_oracle_modisThe 30-year veteran of the California IT Mecca’s staff grew 33% in the previous fiscal year, retaining founder and CEO Larry Ellison. Despite a drop-off in 2008, its stock continues to climb.

most_economic_recovery_dell_modisThe Texas-based firm is pushing 100,000 staff, growing approximately 25% fiscal-after-last. Just before the financial crisis, it opened operations in Moscow and Budapest. So far, the company has weathered the economic storm better than most, while continuing to expand.

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