German Speaking IT Market Is Attractive for Foreign Companies
Transduco, the specialist provider of cross-border business development services for companies operating across the English, French and German speaking financial services technology sectors, comments that the German IT market is showing increasing signs of growth and stability.
With the third largest economy in the world, Germany is at the heart of a 27 member European Union and is the perfect location for companies looking to establish a European base. With business confidence high, Transduco research shows that many overseas companies are actively looking to enter the German speaking market.
"There has never been a better time in recent years for technology companies to look at building a presence in the German market. Companies need to make a long-term commitment to market development and sales backup which will go some way to helping to overcome the geographic handicap with respect to European competitors", said Stefan Mies, Founder and Managing Director of Transduco, "In order to sidestep traditional language and cultural barriers, they should partner with a local company that understands the challenges and difficulties involved in creating a winning export strategy."
One of the best ways of raising awareness with prospective German clients and partners is via exhibitions and trade shows. In Germany they are highly productive business events where contracts are negotiated and deals are confirmed. Exhibitors can take advantage of opportunities to generate leads, carry out market research, evaluate the competition, and test pricing strategies.
Mr. Nima Imani, Sales Manager Conferences & eServices at SIGS-Datacom, organizer of OOP, Germany's most established IT and Software conference and exhibition, said, "The German IT market continues to be strong and local trade shows attract impressive numbers of visitors and exhibitors. In January 2008 in Munich, we expect the 17th OOP event to set new records with more than 2000 attendees, made of up senior decision makers, who come to the show looking to get up to speed on the latest trends and technologies, research relevant products and solutions before making a purchasing decision."
Mies has advice for companies new to the German market, "It is made up of technology savvy customers who demand quality. Companies looking for an effective local presence, have to have first class products, services at competitive prices, as well as establishing local support."
Germany presents few formal business barriers and an efficient channel to generate high levels of market awareness is the Transduco Pavilion, a community stand for technology suppliers organised by Transduco at selected major industry trade shows. It offers companies a cost-effective opportunity to exhibit with a minimum of effort, freeing up time and budget that can be more productively spent on other events and sales related activity.
Mies concludes, "There is strong evidence that companies are looking for new and innovative ways to raise awareness and minimise costs. For example, the Transduco Pavilion at the forthcoming European Banking and Insurance Fair sold out in record time and next year we are looking at expanding the Pavilion to cope with the demand for companies looking for an affordable bridge to the German market."
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