In The News Archives - Page 111 Of 213

Direct Spend to See an Increase in Outsourcing: Report | In the News

April 2, 2019

A new report from Texas-based research firm Everest Group analyzes the factors contributing to suboptimal direct spend management.

The report — “Is It Time to Outsource Direct Spend Categories?” — aims to provide a process for enterprises to begin changing their approach to direct spend management.

In recent decades, Everest Group explains, the procurement function has evolved as enterprises have streamlined their processes for buying goods and services.

Wipro Bets on $1.6-Billion Alight Deal to Tide Over Growth Woes | In the News

April 1, 2019

After several quarters of slow growth, IT major is seen to have regained the momentum with the clinching of the $1.6-billion Alight deal earlier this month.

The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.

“This is the second mega deal for in the past four years after the Taken together, these deals help address the persistent growth issues that has experienced in the past couple of years,” said Peter Bendor-Samuel, founder and CEO of global advisory firm, Everest Group. “As these factors take hold, we anticipate that Wipro’s growth prospects are improving, and will start to look more similar to its peers,” he added.

Airbnb’s OYO Investment Could be its Ticket to the East | In the News

April 1, 2019

Indian budget hotel chain OYO has managed to impress the US company that had inspired it in the first place.

On April 01, the world’s largest short-term home-rental firm Airbnb confirmed investing in the Gurugram-based OYO. While the companies did not disclose the quantum of the investment, reports have pegged it at around $200 million (Rs1,386 crore).

“The concept of frenemies is gaining currency as companies try to keep up with the pace of disruption and they can’t innovate as fast on their own,” said Yugal Joshi, vice-president at Texas-based consulting firm Everest Group, citing other examples like China’s Didi Chuxing investing in south Asian cab-hailing company Grab.

South African Business Process Services in Demand Due to Cost-Efficiency | In the News

March 28, 2019

A global recognition has just been handed to the South African business process services (BPS) sector. Industry analysts suggested that global demand for the country’s provisions is largely due to affordable prices.

Industry stakeholders have been promoting South Africa’s BPS sector as part of the scheme to lead investors into the fold and the plan includes providing cost-efficient offers, IT News Africa reported. Research from Everest Group revealed that the country’s BPS sector saw an annual growth of 22 percent for four consecutive years.

Not Even One in 10 Indian Techies Wants to Work at a Startup | In the News

March 28, 2019

India prides itself on being the world’s third-largest startup ecosystem after the US and the UK. But the country’s techies, it seems, aren’t really sold to the idea.

Fewer than 10% of Indian engineers want to work at startups, according to an employability report by the Mumbai-based pre-employment assessment firm Aspiring Minds. The report is based on a survey of over 170,000 engineers who graduated in 2018 from over 750 colleges in India.

Moreover, India’s startups are caught in a bubble, with nine in 10 failing within five years of founding. “…when the unviable astronomical valuations of startups come down and the dust settles on true business cases, especially in B2C, and when more B2B tech product companies gain traction, more engineers may want to work there,” said Yugal Joshi, vice-president of consultancy Everest Group.

South Africa Recognised as Global Destination for Business Process Service | In the News

March 27, 2019

Following significant investments from key industry players and renewed focus on the sector from government, South Africa has emerged as a global destination of choice for Business Process Services (BPS).

“In an unprecedented and seminal moment for the market, a sitting president specifically mentioned the BPS sector in a State of the Nation Address,” comments Kabelo Makwane, MD for Operations at Accenture in Africa.

However, South Africa’s BPS industry stakeholders have made significant efforts to develop and promote hubs of competency within the major economic regions of Gauteng, the Western Cape and Kwazulu-Natal. These efforts have yielded compelling results, with the local BPS industry growing 22% annually over the past four years, according to research by Everest Group, which is twice the global industry growth rate.

Rogue, Stealth, Shadow: The Antiheroes of IT | In the News

March 27, 2019

The names that define the illicit hardware and software introduced into the organisation are uncannily accurate, but can be turned into a business benefit.

In a dark, gloomy and quiet corner of the office, behind cupped hands, the hushed words are spoken for fear that anyone else should hear: “Shhh, don’t say it out loud, but we’ve got a case of shadow IT.”

It’s not just limited to free apps either. Between both Gartner and Everest Group, their research found that anything from 30% to 50% of enterprise spend is linked to shadow IT. And both think this is likely not even close to the truth. The reality is that shadow tech is simple, accessible, cost-effective and quick. It doesn’t labour under the complex security and red tape restrictions that oft en hamper approved applications. And, let’s face it, many of the apps and solutions provided by organisations are difficult to use, bloated and chosen by management, not by the users.

Trump Is Fighting to Dramatically Restrict Legal Immigration | In the News

March 26, 2019

From the moment Donald Trump stepped into the Oval Office, he has acted deliberately to restrict the number of immigrants coming to the United States. His administration has not only been cracking down on unauthorized entry to the country but also closing off legal avenues for immigration. It initially curtailed admission from Muslim countries and slashed refugees. Now it has turned its attention to family and skills-based categories—without any new congressional authorization.

Peter Bendor-Samuel, founder and CEO of Everest Group, says, “Almost every major U.S. firm is building some form of digital platform so it can enhance its competitive position….The current skill shortages are going to grow as the demand for digital and IT skills explodes. If this administration wanted to harm U.S. competitiveness, then restricting access to this vital labor would be an excellent approach.”

As with Infosys, the Mindtree Row is just another Case of Founders’ Folly | In the News

March 25, 2019

Yet another leading IT outsourcing firm in India is in the eye of a storm as its founders refuse to let go of the reins.

Bengaluru-based Mindtree has made headlines after one of its investors, the owner of coffee chain Café Coffee Day (CCD), VG Siddhartha, struck a deal to sell his 20.32% stake in the company to Indian engineering giant Larsen & Toubro (L&T). The decision did not go down well with co-founders Krishnakumar Natarajan, Subroto Bagchi, Parthasarathy NS, and CEO Rostow Ravanan, who deemed the hostile takeover “a grave threat” to the 20-year-old organisation.

The problem is that Mindtree and L&T may not be seeing eye-to-eye yet.

“The complaint is from a passion perspective,” said Yugal Joshi, vice-president of Texas-based consulting firm Everest Group. Mindtree has invested in newer areas such as agile, design thinking, and cloud services; it’s made crucial acquisitions, including buying out both UK-based Bluefin and US-headquartered Relational Solutions.

Long-drawn battle with L&T may hurt Mindtree: Analysts | In the News

March 21, 2019

The major risk in L&T’s battle to take control of Mindtree is the process dragging on and hurting the Bengaluru-headquartered IT firm’s business, analysts said, even as they opined that cultural issues could be managed.

“In this case, it will be important that this process does not drag on but is brought to conclusion quickly. If the process drags on and generates substantial bad press, it can affect future growth,” Peter Bendor-Samuel, CEO of IT consultancy Everest Research, told ET. “Having said that, we have found that clients are quite sticky and will normally give new management time to prove itself.”

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Category: In The News