MFEC Indicates IT Company Operating Costs in Thailand Surge by 100% Over 3 Years, Despite Increased Expenses Profit Margins Remain Unaffected

Mr. Siriwat Wongjarukorn, the founder and CEO of MFEC, a leading IT solution developer in Thailand, spoke at the MFEC Inspire seminar, highlighting the escalating IT costs that have increased by up to 100% over the past 3 years. This trend is becoming a significant concern for the Thai business sector.

Mr. Siriwat noted that in the last 3 years, IT costs have surged by 100%, surpassing net profits. This surge is primarily due to continuous price escalation from product vendors, leading to a 200-300% increase in costs for several software products. Despite businesses shifting towards cloud adoption to reduce costs, the outcomes have been contradictory, as hidden costs such as annual subscription fees and the usage of AI continue to rise without adequate local AI processes in Thailand. This could potentially result in organizations succumbing to price hikes or restrictions, prompting them to seek solutions to unlock from these constraints.

Mr. Siriwat emphasized MFEC’s 27-year presence in the IT industry, recognizing the disconnect between technology cost increments and client net profits. As costs rise without corresponding profit increases, there is a pressing need to find solutions that help customers reduce IT expenses. MFEC strives to offer cost optimization solutions to a broader spectrum of enterprise clients.

TLDR: Mr. Siriwat Wongjarukorn of MFEC addresses the escalating IT costs in Thailand, emphasizing the need for cost optimization solutions in the face of rising expenses and stagnant profits.