The economic crisis in Brazil has negatively impacted the business of 62 percent of Brazilian technology firms in the first half of 2015 - but certain niche suppliers have been managing to ride out the instability, according to research.
While more than half of the local IT firms have seen sluggish growth over the period, 9 percent of local vendors have managed to take advantage of the current moment to improve their sales performance - such companies are mainly focused on areas such as cloud computing, according to a report by Advance Consulting.
"It is possible to grow during a recession. [Companies] must study and choose the markets where there's more money and inclination to invest," says the report.
Cloud computing is certainly one of these markets. According to separate research by Frost & Sullivan, the Brazilian cloud computing market should see a jump in market revenues from $328.8m in 2013 to $1.1bn by 2017 as local organizations see the use of cloud as an effective way to reduce spending.
In addition to cloud, Brazilian IT companies that have managed to thrive even during the providing services such as development of software, web-based applications and apps, as well as datacenter management and e-commerce systems, according to the Advance Consulting report.
When it comes to the areas where Brazilian IT companies have slashed costs, the main departments that have been impacted are HR, admin and telecommunications. The departments where costs remained at the same levels pre-recession are sales, technology and logistics.