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Life Sciences BPO Experienced Healthy Growth in 2016, But Political Uncertainty May Dampen Outlook—Everest Group | Press Release

By | Press Releases

Life Sciences companies, typically laggards in technology adoption, face increasing pressure to leverage analytics, IoT, automation and omnichannel marketing

The Life Sciences Business Process Outsourcing (BPO) market grew at a healthy pace of 10 to 12 percent since 2014 to reach US$4.6 billion in 2016, according to Everest Group. Increasing adoption by first-generation buyers, the rising cost of drug development and clinical trials, and a shifting focus towards a patient-centric model are some of the key contributors to growth in life sciences BPO market during this period.

Looking ahead, Everest Group expects the global life sciences BPO market to grow at a lower but steady pace of 9 to 11 percent over 2016-2018. Political uncertainty and other industry challenges in the key buying geographies of the United States and the United Kingdom (which together represent nearly 90 percent of the buying base) will contribute to a slight dampening of the growth rate. However, life sciences companies will continue to be highly motivated to optimize costs through BPO. Life sciences companies will look to their BPO service providers for help in expanding their businesses, reducing time-to-market, removing inefficiencies, reducing costs, achieving higher customer mindshare, and building multi-channel capabilities.

Adoption of life sciences BPO by first-generation buyers will continue to be a primary growth driver, but expansion of contract scope will contribute as well. Deals will increasingly include services around drug discovery and clinical trials, regulatory compliance support, analytics, and sales and marketing.

“Even though service providers in the life sciences BPO market are strongly positioned to help their clients capitalize on new technologies, life sciences companies are slow to adopt,” said Manu Aggarwal, practice director at Everest Group. “The reticence of life sciences companies to move beyond the occasional pilot program is stifling momentum in the market, which is hurting these enterprises and delaying the ROI they could be enjoying today.

“Nevertheless, analytics certainly has a greater role to play in the industry, and we’ll begin to see more advanced analytics solutions, as well as IoT and omnichannel marketing solutions, especially as the concepts of Real World Evidence and personalized medicine take hold,” continued Aggarwal. “We’ll also see more growth in Robotics Process Automation, driven by the more progressive service providers in the market as they seek to relieve the pressures on their profit margins.”

These findings and more are discussed in a recently published Everest Group report, “Life Sciences BPO—Annual Report 2017: Personalization Bug Biting the Market.” The report provides an overview of the Life Sciences BPO market and service provider landscape. It also explores key solutions (such as analytics, automation, omnichannel marketing, and IoT) that buyers and providers can leverage to mitigate challenges prevalent in the life sciences industry.

Other Key Findings:

  • While North America continues to be the most significant market for life sciences BPO, Europe and Asia Pacific have witnessed significant growth.
  • Slower growth in developed or mature markets of North America and Europe, along with increasing adoption of generics, continues to be one of the key challenges faced by biopharma companies.
  • Increasing pressure from regulatory bodies, especially to reduce prices and move jobs back to onshore, and rising expectations of customers are also likely to play a significant role in the future strategy of life sciences companies.
  • Increasing focus of biopharma companies on personalized medicines presents a whole new set of opportunities and challenges.
  • Despite a decline in share, the input-based pricing model (fixed fees and FTE-based) still dominates the life sciences BPO market.
  • Share of big pharma (revenue greater than US$20 billion) in the life sciences BPO market has declined over last few years.
  • Adoption of analytics is at a more advanced stage when compared to adoption of RPA in the life sciences BPO market; however, currently the primary focus area for adopting analytics involves the use of basic analytics (reporting and descriptive); use of advanced analytics solutions, such as predictive and prescriptive, is less common.
  • The market continues to remain consolidated at the top, with Accenture, Cognizant, Genpact, and TCS together accounting for more than 60 percent of the market by revenue.
  • While pharmacovigilance emerged as the most outsourced segment, sales and marketing emerged as the most competitive segment within the life sciences BPO market.
  • Emergence of startups and the entry of BPO+IT players has caused significant disruption in the life sciences outsourcing market, especially among some of the more traditional players.

***Download complimentary report abstract here***

Value-Based Care Initiatives—a $5.8 Billion Shot in the Arm for Healthcare IT Market—Everest Group | Press Release

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Everest Group Evaluates VBC Adoption, Financial Performance of 40 Largest Health Systems

After enduring a slump in recent years, demand in the healthcare provider IT market is rebounding, driven primarily by value-based care (VBC) initiatives. In fact, according to Everest Group, growth of the overall healthcare provider IT spend over the next eight years will be completely driven by VBC initiatives, and by the year 2025, VBC will account for more than 50 percent of all healthcare provider IT spending.

VBC refers to efforts to align physician and hospital rewards with cost, quality and outcomes measures rather than quantity of services provided.

More than 75 percent of provider organizations have either adopted or are looking to adopt VBC in the near future, a trend that will drive the next wave of IT investments among healthcare providers.

“We expect that the VBC reimbursement model will take over the traditional fee-for-service model by 2025,” said Abhishek Singh, practice director at Everest Group. “Between now and then, healthcare providers make their most significant IT investments in the areas of patient engagement and compliance. In fact, in the next eight years, we forecast that an additional $5.8 billion will be spent on VBC-driven initiatives. Of that, $2.1 billion will be tied to patient engagement initiatives, and $3.3 billion will be tied to compliance initiatives.”

Other VBC-driven IT investments will fall into one of two general categories: diagnostics, treatment and monitoring; and financials and network management.

These findings and more are discussed in a recently published Everest Group report, “Healthcare Provider Annual Report 2017: Will the Real Value-Based Care (VBC) Please Stand Up?

This report describes the current state of value-based care and provides an evaluation of the 40 largest health systems with respect to their VBC and financial performance. The report also recommends a framework that health systems can use to accelerate their value-based care initiatives and describes the expertise and service capabilities required for service providers to serve the needs of the market.

 The State of VBC Adoption: Key Takeaways

  • Over a third of healthcare providers have undertaken VBC to some extent.
  • Despite the progress, there is significant work to be done to meet goals of the Centers for Medicare & Medicaid Services (CMS).
  • Providers see a greater financial risk as compared to payers, thereby hampering progress.
  • VBC adoption has a strong dependence on the nature of risk undertaken.
  • Health systems tend to be better than hospitals in terms of VBC performance.

 Background on VBC

In the past, the U.S. healthcare system operated primarily on a fee-for-service model, which rewards healthcare providers for the volume of services delivered; for example, a physician is paid for every visit or procedure, regardless of patient outcome, the provider’s operational efficiency or the quality of the providers’ service delivery.

In contrast, in a VBC model, healthcare providers are reimbursed and incentivized based on quality of care rather than quantity. Although there are many different models and approaches to VBC, the objectives are to provide better care for individuals, improve population health management strategies (that is, how providers coordinate to provide the best care for patients), and reduce healthcare costs.

The relative success of VBC initiatives can be measured in many ways. Common patient care objectives include lowering readmission rates, mortality rates, and Medicare spending per beneficiary (MSPB); increasing patient satisfaction; reducing the number of hospital acquired conditions (HACs); and minimizing the time between check-in and check-out at the Emergency Department.

***Download complimentary report abstract here***

Michael Hedegard Promoted to Partner at Everest Group | Press Release

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Everest Group has announced the promotion of Michael Hedegard to the role of partner. Hedegard, who joined the consulting and research firm in 2007, is known for his keen focus on helping clients from across industries solve complex problems and reap optimal value from initiatives related to go-to-market strategies, IT and business services sourcing, and operational design and delivery.

“Michael is a versatile problem solver. He has an ability to unravel complexity and help clients adopt strategies that put them on the path to operational excellence and corporate growth,” stated Peter Bendor-Samuel, founder & CEO, Everest Group. “It’s a promotion well earned. Michael consistently demonstrates the firm’s core values in how he services clients, leads teams, and builds the firm.”

One of Hedegard’s areas of focus includes developing innovative thinking related to the impact of automation, such as cognitive and Robotic Process Automation (RPA), on services. Recognizing the large unrealized value potential, he is guiding enterprises through the transformational opportunities and operational issues of managing a digital workforce. He has developed strategic thinking on fundamental changes traditional service providers can make to shift their business model to embrace the value of automation. Michael advises automation tool providers on creating value in a rapidly evolving services market.

As partner, Michael will be the primary leader of client teams focused on helping clients drive change across a range of IT and business process services models that result in material business outcomes.

Capital Market IT Outsourcing Deals See Double-Digit Growth in Number and Value in 2016 — Everest Group | Press Release

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Artificial intelligence, cloud, blockchain technologies driving digital disruption of capital markets ITO industry.

Capital market IT outsourcing (ITO) deals experienced double-digit growth in 2016; legacy modernization and adoption of digital technologies drove a 29 percent increase in the number of capital market ITO deals, with the average total contract value rising 23 percent, according to Everest Group.

Technologies such as artificial intelligence (AI), cloud and blockchain were key components of digital adoptions. The demand for virtual assistants, automated investment advisory capabilities, and improved agent/broker and customer experiences drove a 64 percent uptick in the number of capital markets ITO deals that included AI in their scope. Similarly, the impetus to improve agility and reduce costs led to a 47 percent surge in cloud-based initiatives in capital markets ITO deals.

Another major driver of capital market ITO deals in 2016 was risk and regulatory compliance initiatives. These saw a 58 percent increase over 2015, largely attributed to an overall tightening of regulatory grip in the capital markets industry, especially in Europe.

“Everest Group anticipates that the capital markets IT outsourcing market will grow modestly in the next 12 months, as many of the trends we have documented in 2016 continue,” said Ronak Doshi, practice director at Everest Group. “Risk and regulatory compliance will remain a primary focus; deal sizes will shrink as enterprises demand cost-reductions through automation; and artificial intelligence, cloud, and blockchain technologies will drive the next wave of digital disruption.”

These recommendations and research findings are explored in “Simpler, Smarter, and Seamless Capital Markets – The Digital Revolution: Capital Markets ITO Annual Report 2017.” This report examines the global activity and trends in the capital markets segment and the implications for enterprises and service providers.

 Other key findings:

  • Brokerage and investment sub-vertical witnessed an increase in transaction activity, led with a central theme of adopting digital to enhance the front-office user experience.
  • The capital markets industry witnessed a decline in demand for traditional IT application development and maintenance service while the demand for consulting and integration services surged in 2016.
  • Asia remained the most lucrative destination for application outsourcing service delivery, despite improvement in the cost effectiveness of Central Eastern Europe and Latin America owing to currency depreciation.
  • The capital markets vertical witnessed a significant increase in the number of small-ticket size and short-duration deals in 2016.
  • Deals over US$14 billion will be coming up for renewal in the next four years.

***Download complimentary report abstract here***

Banks Embrace Digital in More Than Half of ITO Deals in 2016—Everest Group | Press Release

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Number of banking ITO deals including automation in scope increases nearly triple; a future of banking built on AI, open banking architecture, and cloud is imminent.

According to Everest Group, banks embraced digital in 54 percent of ITO deals in 2016, and the number of banking ITO deals including automation in their scope increased 175 percent. As banks increasingly leveraged digital across both front- and back-office, the demand for traditional IT services flat-lined. New technologies such as blockchain and artificial intelligence (AI) have witnessed significant traction, as banking enterprises explore various use cases. Seven new deals specifically for blockchain were signed in 2016.

Everest Group also reports that the number of automation deals with AI in their scope increased over 80 percent in 2016. Key themes for these deals included engagements for adopting virtual assistants, pilot programs to explore machine learning in the risk and regulatory compliance space, and pilot programs for cognitive robotic process automation (RPA).

However, banking ITO transactions overall showed a significant decline in 2016. The number of new deals signed dropped 27 percent, the average total contract value fell 24 percent, and the average deal duration declined 11 percent. An uncertain macroeconomic environment, political uncertainty, and an increase in insourcing by global banks attributed to the reduction in number of deals. An increase in automation and price competition among service providers impacted the average ticket size of deals.

“Banks are reinventing themselves, leaving behind the legacy brick-and-mortar business model and becoming customer-centric rather than product centric,” said Ronak Doshi, practice director at Everest Group. “In the near future, banks will become an ambient fabric, coordinating a network of allied businesses and third-party providers and orchestrating end-to-end customer experiences. The IT foundations of this new banking model are technologies such as artificial intelligence, API-enabled open banking architecture, and cloud. As our research demonstrates, we’re now seeing banks wholeheartedly adopting digital—a sure sign that the transition to the future of banking is rapidly accelerating.”

These findings and more are discussed in Future of Banking – “Experience First”: Banking ITO Annual Report 2017. The report contains insights into the future of banking and a comprehensive analysis of the banking application outsourcing market.

***Download complimentary report abstract here***

End of the Line for Traditional Sources of Bank Growth Drives Urgent Interest in FinTech, Business Process Service Providers | Press Release

By | Press Releases

Robotic process automation, analytics and consumer-facing technology solutions will sustain 5-9 percent growth in banking BPO market through 2020

The proverbial advice “if you can’t beat them, join them” is particularly apropos for banks who find themselves competing against FinTechs (financial technology companies) in the digital age, according to Everest Group in newly published research addressing the business process outsourcing (BPO) market in the banking industry.

Everest Group reports that the traditional banking model with its legacy technologies and ways of doing business has reached the end of the growth curve, so banks must now focus on new technologies to survive. To remain relevant in an evolving market of new-age consumer preferences and unprecedented external pressures, banks are turning to technology solutions such as robotic process automation (RPA), analytics, artificial intelligence (AI), open application programming interfaces (APIs) and blockchain to decrease costs, improve operational efficiency, offer more personalized solutions, and deliver a seamless digital experience to customers.

In some cases, banks are building these technological capabilities in-house, but in many cases, banks are turning to service providers and making allies of former FinTech competitors in order to survive in the ecosystem and offset marketplace challenges.

“Banks can combine their strengths—such as access to resources, trust of customers, and expertise in core banking services—with the innovative offerings of technology players to cope with the significant challenges they are facing in the marketplace,” explained Anupam Jain, practice director at Everest Group. “This is why we are seeing a sustained growth rate of 5 to 9 percent in banking BPO. Service providers are supporting banks by leveraging their expertise in technologies such as analytics and blockchain. And we’re also seeing banks establish collaborative, win-win partnerships with FinTech players who have deep technological assets. This will be a dominant strategy for the bank of the future.”

These results and other findings are explored in Everest Group’s recently published report: Banking BPO Annual Report 2017: Disruption Does Not Discriminate — Banks Embracing Digital to Stay Relevant. The report provides comprehensive coverage of the global banking BPO market, including detailed analysis of the state of the market and challenges faced by banks, market size and adoption by lines of business (LoBs), technology adoption, and the future outlook for banks.

 Other key findings:

  • The global banking BPO market is expected to grow at a steady pace of 5-9 percent over 2016-2020.
  • While North America continues to be the most significant market for banking BPO, Continental Europe and Asia Pacific have witnessed significant growth.
  • Bank LoBs are facing challenges to remain profitable with the pressure of regulations, competition from non-banks and rising expectations of customers.
  • The overall BPS industry has witnessed significant RPA adoption; however, its adoption in the banking BPO industry remains low.
  • Analytics in BFSI (the banking, financial services and insurance market) is starting to differentiate in its usage, and BFSI is poised to remain the largest market for analytics.

***Download complimentary report abstract here***

Disruption Brings an End to Contact Centers As We Know Them, Declares Everest Group | Press Release

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Contact Center Outsourcing is becoming a key influencer of corporate customer experience strategies

Disruption in the contact center outsourcing (CCO) market is bringing an end to contact centers as we know them, according to Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing. Recent Everest Group research suggests that the traditional approaches and scope of services that have defined CCO in the past are rapidly evolving into a new set of buyer expectations and service provider capabilities more appropriately considered   customer experience services.

 The key drivers of this evolution are:

  • Evolving customer expectations – Digital-savvy customers are demanding service availability at their channel of choice, and they expect a fast and accurate resolution to their issues. Buyers seek service providers who can help them meet and exceed the expectations of digital-native customers.
  • Changing buyer focus ­– Buyers are becoming more customer centric, with increasing focus on building a loyal customer base. Buyers expect service providers to participate in tailoring innovative customer experience solutions.
  • Service provider challenges – Under pressure to deliver tangible business outcomes for their clients, service providers are seeking to make people and technology investments that will equip them to provide differentiated customer experiences.

“We see traditional CCO approaches evolving quite rapidly to those focused on delivering customer experience services,” said Katrina Menzigian, vice president at Everest Group. “This is apparent in the rise of consulting and co-innovation engagement models, the adoption of sophisticated digital services to enable omni-channel customer engagement, and pricing constructs based on tangible business outcomes.” Another insight from the study is that services such as customer analytics, customer retention management and performance management—which once were considered value-added services—were included in almost half of the CCO contracts in the past two years. In other words, buyers have come to expect them as core delivery capabilities because they are required to deliver exceptional customer experiences.

With buyers and service providers looking to redefine contact center relationships and focus on customer experience delivery, the CCO market witnessed a subdued growth rate of 3 percent in 2016 to reach US$78-80 billion. Contributing factors in the decline in growth rate include:

  • Rising technology adoption – Use of analytics and automation has reduced human effort, requiring fewer FTEs for the same work
  • Geopolitical factors – Buyer apprehension due to Brexit, US elections, etc. led to reduced buyer activity
  • Growth of non-voice interactions­ – Though larger in volume, non-voice interactions have lower costs

As buyers and providers become more mature and come to terms with the disruptions, the market is expected to resume growth at 4-5 percent by 2020.

These findings and more are discussed in “Contact Center Outsourcing Annual Report 2017 – Disruption is Here: The End of Contact Centers as We Know Them.” This report provides an overview of the CCO market, including market size and adoption trends, value proposition and solution characteristics, and service provider landscape.

Other key findings:

  • The global contact center spend stands at US$310-335, of which third-party outsourcing accounts for approximately 25 percent
  • Multi-region contract signings continue to increase as buyers look to consolidate their service provider portfolio across regions
  • The delivery model is leaning towards balanced shoring, as providers look to achieve optimum balance between onshore and offshore delivery
  • Technology investments in predictive and prescriptive analytics have risen significantly in the last couple of years
  • CCO specialists have witnessed flat growth in 2016. IT + BPO players grew at the maximum rate due to their investments in analytics and automation.
  • Enabler technology comprised most of CCO-related investments, amounting to half of the total investments. Analytics, automation and multi-channel tools formed the bulk of enabler technology investments.

***Download complimentary report abstract here***

Enterprises Warming to IoT According to Everest Group Research | Press Release

By | Press Releases

Industrial IoT offers faster return on investment for global service providers striving to meet enterprise demand

Internet of Things (IoT) is among the top three priorities for digital transformation for enterprises across industries; however, to move forward, companies will have to overcome key challenges, among them a complex ecosystem, data privacy and security issues, critical infrastructure and platform decisions, and investment challenges, according to Everest Group.

Currently, enterprises in the manufacturing and energy & utility sectors are the leading IoT adoptors. Industrial applications of IoT (commonly referred to as IIoT) are instrumental in increasing machinery uptime, enabling end-to-end supply chain visibility, reducing energy costs and preventing infrastructure failures. Service providers, too, have a high interest in IIoT, because IIoT offers faster return on investment than consumer IoT such as wearables and smart home devices.

Everest Group describes IoT and IIoT trends and the investments that service providers are making to capitalize on this new growth opportunity in its recently released Market Vista™: Q2 2017 report.

In addition, the report discusses outsourcing transaction trends, GIC-related developments, global offshoring dynamics, location risks and opportunities, and key service provider developments.

“Although transaction activity declined slightly in Q2 compared to Q1, it was a good quarter for the sourcing industry in many other aspects,” said H. Karthik, partner at Everest Group. “GIC market activity increased; location activity in Q2 was at an all-time high, with Europe, in particular, witnessing significant growth in activity compared to Q1; and most service providers reported sequential growth in revenues.”

*** Watch the Webinar Replay ***

Everest Group held a webinar on August 17 in which the findings of the “Market Vista: Q2 2017” report were reviewed. During this one-hour webinar, Everest Group experts discussed the factors disrupting the sourcing market—including digital technologies, regulatory changes and geo-political dynamics—and shared how multiple startups have emerged to fill the innovation gaps with new solutions and platforms. A particular focus of the webinar was the increasing adoption of U.S. domestic sourcing. Everest Group experts described the drivers behind increasing adoption and the experiences of firms in managing their domestic sourcing strategies. (Watch the webinar replay.)

Key Market Trends in Q2 2017

  • GIC activity continues to be driven by existing adopters, with focus on establishing R&D centers for next-generation technologies.
  • Outsourcing demand from the United Kingdom continued to remain low due to uncertainty with Brexit and reduced outsourcing by cash-strapped healthcare and government sectors.
  • Reduced revenue growth is pushing service providers to form partnerships rather than invest in acquisitions.
  • Leading locations—India in Asia Pacific, Northern Ireland and Romania in nearshore Europe, and Brazil in Latin America—witnessed a spike in new delivery center setups

***A complimentary 4-page preview of the report is available for download here.*** (Registration required.)

In First-of-its-Kind Assessment, Everest Group Identifies Leaders of Service Delivery Automation in Business Process Services | Press Release

By | Press Releases

Accenture, Cognizant, IBM and Wipro lead the industry in SDA impact, capabilities and vision. 

Several big names in the Business Process Services (BPS) market have emerged as leaders in Service Delivery Automation (SDA), according to an assessment just published by Everest Group.

Influential enterprises are disrupting the status quo by demanding from their service providers not only cost reduction but also next-generation benefits focused on business outcomes and enhanced customer experiences. For service providers looking to pivot quickly from an arbitrage-first model to digital-first one, SDA is the one of the key levers, according to new research from Everest Group.

SDA comprises a spectrum of automation solutions for delivering services, such as Robotic Desktop Automation (RDA), Robotic Process Automation (RPA), autonomics, cognitive computing (machine learning, deep learning and neuro-linguistic programming) and advanced Artificial Intelligence (AI). Collectively, SDA is one of the most potent levers that BPS service providers can deploy to help buyers move beyond labor arbitrage to attain valuable benefits.

In a first-of-its-kind report, “Business Process Services Delivery Automation (BPSDA)—Service Provider Landscape with PEAK Matrix™ Assessment 2017,” Everest Group evaluates 18 leading broad-based BPS service providers relative to their SDA market impact and overall vision and capabilities. Employing its proprietary PEAK Matrix framework, Everest Group segments the providers into three categories of performance: Leaders (top quartile), Major Contenders (second and third quartile), and Aspirants (fourth quartile):

  • Leaders: Accenture, Cognizant, IBM and Wipro
  • Major Contenders: Capgemini, Conduent, EXL, Genpact, HCL, Hexaware, Infosys, NTT DATA, Sutherland Global Services, Syntel and WNS
  • Aspirants: HGS, Intelenet Global Services and Mphasis

“Given the importance of SDA as a key value lever in the digital-first BPS world, this report provides an in-depth analysis and comparison of leading BPS providers in terms of their progress and market impact in this space,” said Rajesh Ranjan, partner at Everest Group. “Buyer experience and satisfaction was one of the important dimensions considered in this multi-dimensional assessment. Notwithstanding better performance by Leaders, there is clear opportunity for the BPS industry to improve on buyer satisfaction to realize SDA potential. This is more pronounced in the Artificial Intelligence space.”

Other key findings:

  • Accenture and Conduent have the most number of clients with BPSDA deployments by far. They are followed by Capgemini, Cognizant, Genpact, IBM and Wipro.
  • Accenture and Conduent lead in most geographies. In APAC, in addition to Accenture, Genpact has found good traction.
  • Providers’ success differs across BPS segments. Competitive intensity is high in all other high-potential areas except contact center, which is heavily dominated by Conduent.
  • Accenture and Cognizant have the most number of FTEs dedicated to BPSDA. Genpact and Cognizant have the highest share of FTEs in BPSDA product development

***A complimentary 4-page preview of the report is available for download here.*** (Registration required.)

This new report is a part of a three-part series of research findings that Everest Group plans to publish in the BPSDA space. The next report will provide an in-depth view of the state of the industry in terms of key trends, progress and future direction.

Michel Janssen Rejoins Everest Group as Chief Research Guru | Press Release

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Strong senior leadership to guide research agenda and capabilities in an era of sourcing industry disruption

Everest Group, a consulting and research firm, today announced the return of Michel Janssen to the company. Janssen, a 20-plus-year veteran of the research and consulting industries, will assume the position of chief research guru, responsible for guiding the agenda and architecture of Everest Group’s research capabilities, a division that he co-founded in 2005 during his original tenure with the firm.

“It is a tremendous pleasure to welcome Michel back to Everest Group. Having worked closely with him during his first stint and remained friends since that time, I am very excited about adding his creativity and spark to our leadership team,” said Eric Simonson, managing partner of research. “His experience in developing and scaling research capabilities will help us accelerate our evolution across many dimensions.”

As an expert in research development, Janssen has established an unequivocal track record for developing analysis and frameworks that are compelling and highly valued by clients. His return to Everest Group reflects the firm’s commitment to the growth of its research practice and its confidence that Janssen will contribute significantly to the firm’s expansion and market-leading innovation during a period when the senior executives across industries are facing significant market disruptions that call for the innovative, best-in-class application of technology and business processes.

“With his broad and varied career in the research industry, Michel is uniquely positioned to offer profound fact-based insights to enterprises and service providers alike,” said Everest Group CEO and founder Peter Bendor-Samuel. “His experience and entrepreneurial spirit will help propel Everest Group’s research practice to a new level – one that truly reflects the depth and breadth of our research capabilities, including our focus on digital transformation. We are pleased to welcome him home.”

Prior to rejoining Everest Group, Janssen spent a successful decade serving as chief research officer at Market Track, where he more than tripled the practice’s revenues during his 3 1/2 years there, and at The Hackett Group, where his contributions to innovating the research methodology and enhancing the market relevance of research services helped the company expand its practice by more than 15 percent annually. Earlier in his career, Janssen held analyst positions with Gartner and service leadership roles at EDS. He is widely quoted in news media as a subject matter expert on applying business insights and is a prolific contributor of thought leadership to conferences.

In addition to Janssen, Alan Wolfe, who brings 30 years of sales and sales management experience with leading research and consulting firms, joined Everest Group in the role of senior vice president of sales in May 2017. A dynamic and versatile sales leader, Wolfe helps generate revenue and income growth by building and nurturing outstanding sales teams. Prior to joining Everest Group, Wolfe held leading roles in several professional services organizations, including The Hackett Group, Gartner and Deloitte Consulting.