How New Economy Industries Use Agile Methodology For IT Consulting Projects?



New Economy Industries Use Agile Methodology

The best part of Agile methodology is that industries can greatly adapt to the new economic structures and use phased planning for continuous integration. Agile methodology for IT consulting projects has helped in collaborative industrial work and increased customer satisfaction. The new economy examples are the fast-paced internet industries, technology-enabled industries, online marketplaces, communication industries, CRM, etc. The new economy methodologies are adopted by high-growth industries using cutting-edge technology. The major technologies used are AI and Cloud Computing to captivate global interest and transform the way industries nowadays work. The best part of adopting Agile methodologies for IT consulting is that it is plan-driven and mitigates many risks.

Philips did Agile adoption for its IT consulting projects to accelerate innovative, fast, and quick skills adoption. The brand adopted Agile methodology under New Economy solutions to manage the IT portfolio and unleash maximum impact.  The company wanted to drive the organizational capability to new heights by transforming the IT portfolio.

The Agile method adoption will help in driving the organizational agility to achieve the maximized change. It will drive satisfaction among internal consumers. The customer and professionals associated with the company will have more focused innovation to improve the well-being of the people who uses Philip’s technology.

Major key successes are registered with the use of Agile methodologies by the Philips brand. The company worked with large-scale Agile transformation that supported the innovation initiatives. It also helped in creating the sustainability capability for the future. Using the technology consulting solutions from Agile consultants, Philips got the opportunity to optimize the impact on the investments.

Philips is working towards improving the healthcare technological services it is providing. The company is investing millions in IT consulting projects based on Agile methodology. They have introduced six structured platforms: Market2Order, Idea2Market, Order2Cash, Digital, Services and Solutions Delivery, and Group Functions. The brand pulled up the Agile transformation at a large scale, delivering IT growth to make things easier.

Source: PA Consulting

Agile Statistics and Approach for 2023 to Explore the Latest Trends

The Agile frameworks are adopted across various platforms and departments, but the software development companies have the highest rate. 86% of the software development teams have implemented Agile practices. The technology consulting services providers are making a deep impact using Agile methodologies. 81% of the Agile teams use Scrum with variations like the Hybrid Scrum Model and Scrumban.

Agile Statistics and Approach


In the last decade, 30% of the company’s projects exceeded the initial deadlines, and 50% of the companies have raised costs. Capgemini Consulting recommended a step-wise approach towards the changing business opportunities and priorities. The CIOs who adopted the Agile methodology and took software product engineering services saw 77% improved project visibility. 68% of the CIOs witnessed a simplified developmental process.

The new economy companies use Agile frameworks and methodologies, especially Scrum, which helps with great team organization and value generation. 75% of the companies use Scrum Hybrid or Scrum methodology. Apart from this, Kanban is used to track and manage the workload. 63% of the companies researched stated that they use Kanban.

Companies adopting Agile methodology are experiencing 60% in revenue and profit growth. It has saved 30% of the cost too. The Agile methodology adoption rate is 42%, which is far more successful than the Waterfall methodology. So, more companies are adopting Agile and making it a norm.

How do New Companies Benefit from Agile methodology for IT Consulting Projects?

The IT and tech industries are going through a major transformation because of the widespread use of Agile methodologies and frameworks. The new economy industries are adapting the Agile frameworks for proper collaboration and gaining customer satisfaction. It includes various practices like Waterfall, Kanban, Scrum, etc. Besides this, there are many advantages for the new companies too.

       Consultation: You can take the technology consulting agency services to increase the responsiveness of the projects. Moreover, an Agile structure helps to shift the client’s needs and guarantees alignment of the projects.

       Provision of Quick Resolution: Customers look forward to quick resolutions rather than waiting for the time to resolve their problems. By adopting Agile, the consumers will get the product they choose, and there will be no compromises.

       Better Collaboration: The Agile framework encourages better team collaboration by fostering effective communication. This methodology encourages a culture of shared responsibilities with creative problem-solving inputs. This innovative methodology provides high-quality outputs.

       Improvement: By adopting an Agile methodology, a continuous improvement culture will be encouraged. The teams can continuously evaluate their processes to improve the quality and output. With ongoing learning and adaption to the new technologies, the companies can work towards the business’s longevity.

       Increased Customer Satisfaction: The inclusion of digital technology along with Agile methodology will help drive consumer satisfaction. The customers will get the products they want, and digital technologies will help to absorb the latest trends. The companies can use AI or the experience of a technology consulting company to adapt to the requirements of today’s consumers.

Get Agile Framework Services from Reputed Leaders!

Agile methodology is helping companies to understand the perceptions and wants of their end-users. You must adopt new platforms to serve your customers in a better way. Get the best Agile methodology services from a reputed software product engineering company, Tntra. We have a team of competent experts to render the best Agile framework services for new companies.

Call Tntra experts today to know how their partnership can help with your projects!

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