Category: In The News

Mexico Serves as a New Base for Indian IT Businesses’ Operations Including CXM | In the News

Mexico has emerged as the new hotspot for customer experience management (CXM). TCS and Infosys have been present in Mexico for nearly a decade now. Recently, LTIMindtree opened a 100-seat facility.

Mexico’s benefits include geographical closeness and cultural compatibility with both the US and Canada. According to Everest Group, Mexico has a worldwide service talent pool of about 197,000 full-time equivalents. The personnel are proficient in English, Spanish, French, and Portuguese.

Read more in CIO News

Tech Boost? Several Us Federal Contracts up for Renewal in Next Two Quarters | In the News

Several large US federal deals from the likes of General Services Administration, US Cyber Command, Department of Energy, NASA, Federal Aviation Administration, and Department of Education are up for renewals over the next two quarters.

Everest Group CEO Peter Bendor-Samuel believes that the Indian firms have been making sustained investments in the Federal market, “The going is slow, and they face entrenched competition, a long selling cycle, and are less advantaged from a cost perspective than they are in other areas,” he said.

Read more in Economic Times

When AI Chatbots Go Bad | In the News

AI ethicists may be wringing their hands about generative AI’s (gen AI’s) potential to end humanity, but businesses adopting the technology for customer support face more pedestrian, reputational concerns as customers game chatbots for providing poor service.

A recent Everest Group survey of more than 50 global CIOs found that 61% of enterprises are “actively exploring and piloting” gen AI and that 22% have already deployed the technology for one or more business processes.

Read more in Information Age

Mexico Emerges as New Hub for Indian IT Companies Operations | In the News

Mexico has emerged as the new hotspot for customer experience management (CXM).

Everest Group said Mexico has a global services talent pool of nearly 197,000 full-time equivalents (FTEs). The workforce has strong multi-language capabilities in English, Spanish, French, and Portuguese. “The CXM market has been surging in Mexico, and the IT-ADM sector is showing notable growth as well, particularly as it taps into highly skilled engineers emerging from Mexican universities,” said Parul Jain, Vice President of the global sourcing team at Everest Group.

Read more in The Times of India.

IT Gives Bears a Bull Hug: What Is Driving the Rally in Tech Stocks? | In the News

Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks?

“The large mega deals look to be the one bright spot in an otherwise difficult market. We are also seeing some green shoots around some of the large foundational software areas with encouraging performance of the software firms, which often leads tech services spending,” said Peter Bendor-Samuel, CEO at Everest Group.

Read more in Economic Times

BFSI Vertical Set for Recovery in H2 | In the News

Recovery in the all important BFSI (banking, financial services & insurance) vertical is not likely before June of 2024 despite some IT firms witnessing green shoots in their financial services business during the third quarter.

“At this time, we do not see a full-scale banking recovery in the cards for the next two quarters,” Peter Bendor Samuel, CEO at Everest Group, told Bizz Buzz.

Read more in Bizz Buzz

Europe Market Outperforms North America in Q3 for IT Cos; Demand to Return in H1FY25 | In the News

Europe has performed better than the North American market for the top four Indian IT companies including Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro. Execution of some large deals and subsiding of the ill-effects caused by the Russia-Ukraine war crisis were some other reasons that drove UK and continental Europe to pip the North American market in terms of growth, experts have said.

However, most analysts believe demand will bounce back by the second half of this calendar year. Peter Bendor-Samuel, CEO of market intelligence and research firm Everest Group, believes that whether interest rates in the US are cut or not, the IT services business will see a possible rebound soon.

Read more in Money Control.

 

Biopharma Trends in 2024 and Beyond | In the News

An Everest Group study across industries found that 48% of enterprise respondents are expecting to shift to a shared services or global business services (GBS) sourcing model.

Biopharma has been slow to adopt this model. However, as GBS transitions from capacity to capability centers and enterprises’ expectations from GBS evolves from cost productivity to augmenting technology capabilities and strategic process re-engineering, pharma GBS centers will increasingly partner with specialist service providers to augment and elevate inhouse capabilities.

Read more in Pharmaceutical Executive

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.