Category: Press Releases

Everest Group Promotes Beller and Lade in Recognition of Consulting Achievements | Press Release

April 5, 2016

Barbara Beller and Mark Lade are named associate partners at Everest Group for delivering exceptional consulting services and high-impact results for global clients.

Everest Group, a consulting and research firm, today announced the promotion of two high-achieving consultants—Barbara Beller and Mark Lade—to the position of associate partner.

Everest Group CEO and founder Peter Bendor-Samuel said these promotions recognize exceptional performance in delivering results for the firm’s global clients. “Everest Group is pleased to announce the well-deserved promotions of these talented leaders who have played an integral role in expanding our global consulting practice and delivering impactful services that our clients so highly value,” said Bendor-Samuel.

Beller, based in Toronto, specializes in strategy development; retail/commercial/wholesale banking and insurance; and mergers and acquisitions. Her portfolio of work is distinguished by numerous successful transformations and reengineering initiatives, in which she applied her talent for leading strategy development, driving roadmap design, and managing multi-disciplinary teams. Prior to joining Everest Group in 2013, Beller held senior-level positions at Accenture, Scotiabank, and Bank of Montreal, in addition to founding and managing a professional coaching and consulting business.

“Barbara Beller leads our consulting teams with a disciplined and impactful style that delivers distinctive value to clients,” said Marvin Newell, partner at Everest Group. “Her impact has extended from driving initiatives that have helped multiple global firms transform their business and IT services models to leading a large healthcare firm’s efforts to establish a global delivery model for IT and business process services.”

Lade, also based in Toronto, specializes in motivating organizations to achieve transformational change, thereby delivering both strategic advantage and positive financial outcomes. Since joining Everest Group, Lade has leveraged extensive experience as a senior IT executive in the finance industry to serve clients in a broad array of industries, ranging from insurance to energy to manufacturing. Prior to joining Everest Group in 2014, Lade spent 16 years as a senior IT executive at TD Bank

“Mark Lade’s leadership style and senior management experience rank him in the top tier of Everest Group leaders with significant strength in the areas of IT transformation and transition,” said Betty Rhiger, partner at Everest Group. “Mark has helped numerous Everest Group clients transform into best practice organizations, greatly improving speed, quality and risk management, while simultaneously enhancing their ability to achieve strategic and financial objectives.”

Analytics Is Booming in Business Process Service Market, Clocking 40 Percent Growth | Press Release

March 28, 2016

Big Data, Internet of Things, machine learning and automation will drive future growth as service providers adapt through convergence and by developing productized solutions.

The tremendous interest in analytics has set the global analytics Business Process Services (BPS) market on fire. Analytics BPS clocked one of the fastest growth rates in the sourcing industry in 2015, growing by 35 to 40 percent to reach approximately US$4.5 billion, according to new research from Everest Group, a consulting and research firm focused on strategic IT, business services, and sourcing.

In particular, 2015 saw explosive growth as buyers experimented with advanced analytics solutions and technologies.

“We expect to see advanced analytics, particularly areas such as Big Data, Internet of Things, and machine learning and automation, driving growth in the analytics BPS market in the future,” said Rajesh Ranjan, partner at Everest Group. “We also expect the market to change shape as solution providers adapt and evolve, specifically in terms of convergence—with providers making investments in prescriptive and predictive analytics to meet the growing demand—and the development of productized solutions.”

Other findings in the research:

  • While the United States will continue to be a key buyer geography, going forward, Europe and Asia Pacific will be the key growth drivers for the analytics market
  • Currently, consumer packaged goods (CPG) and retail as well as banking, financial services and insurance (BFSI) are the leading adopters of analytics BPS, but industries such as healthcare and hi-tech/telecom are exhibiting high growth
  • Traditional BPO players, such as Accenture and IBM, dominate the market, but smaller specialists have witnessed higher growth based on their innovation and analytics focus.

These research findings are summarized in a set of high-resolution graphics available for complimentary download here. These Market Insights™ illustrate key takeaways from Everest Group research on the global analytics BPS market, including detailed analysis of market size and growth, buyer adoption trends, analytics BPS value proposition and solution characteristics, and service provider landscape. The graphics may be included in news coverage, with attribution to Everest Group.

The graphics include:

  • 5 emerging themes in analytics business process services
  • The global analytics BPS market is expected to grow 35 percent+ through 2018
  • The Internet of Things and big data analytics go hand-in-hand
  • Machine learning: the next frontier for intelligent analytic solutions
  • Analytics BPS: Market maturity = high impact

***Complimentary Download of Report Preview*** The research supporting these Market Insights graphics is summarized in a preview report, “Analytics Business Process Services (BPS) — Analytics Goes Mainstream—Scope Expands Beyond Traditional Clients and Offerings,“ available for complimentary download here.

Sky Is Not Falling on Offshoring, Despite Market Maturity and Disruption by Service Delivery Automation | Press Release

March 17, 2016

Downloadable, high-res Market Insights™ graphics and webinar summarize 2015 developments, 2016 predictions in Global Services marke 

The maturing global services industry experienced continued growth in 2015, with location activity reaching an all-time high. The drivers of that growth, however, have evolved. Small and mid-sized buyers led growth across industry verticals, and the adoption of new technologies caused disruption in the market, according to Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing.

Looking ahead to 2016, Everest Group predicts service delivery automation (SDA) will become a priority for Global In-house Centers (GICs), often called Shared Services or Captives, and will impact the location portfolio in a variety of ways, including a rise in both consolidation and reshoring, the latter especially in situations where speed-to-market is important.

“Twenty-eight percent of GICs have already implemented SDA across multiple processes and have started reaping the benefits of greater operational efficiencies,” said Salil Dani, vice president in the Global Sourcing team at Everest Group. “Fifty percent are pursuing pilots or actively planning to implement SDA, and 22 percent are thinking about it. So, there is no doubt that SDA is impacting the location portfolio; however, it will not replace offshoring.”

These research findings are summarized in a set of high-resolution graphics available for complimentary download here. These Market Insights™ illustrate key takeaways from Everest Group research on the developments that took place in the global services industry in 2015. The graphics may be included in news coverage, with attribution to Everest Group.

The graphics include:

  • Global services market activity heatmap — 2015
  • Key global services location opportunities for 2016
  • The nature of the global services industry is shifting
  • Service providers relying on inorganic growth
  • Global services location activity increased in 2015 as buyers invested ahead of demand

***Webinar Replay***

The research supporting these Market Insights graphics was discussed in a webinar conducted by Everest Group last month. Listen to a recording of “Market Vista™ | Global Services Developments: 2015 Trends & 2016 Predictions” or get the presentation here.

New Everest Group Subscription Offers Easy Access to Research, Expertise on Service Optimization Technologies | Press Release

March 8, 2016

Everest Group—a consulting and research firm focused on strategic IT, business services, and sourcing—today announced the launch of its Service Optimization Technologies (SOT) research subscription. This subscription equips organizations with easy access to an extensive and modern portfolio of Everest Group research on SOT and best practices for adopting SOT to improve business process services (BPS) and information technology services (ITS).

SOT research covers current and impactful technologies such as robotics, automation, artificial intelligence, analytics and Internet of Things.

“These new technologies are rapidly evolving, and they’re dramatically changing the service delivery landscape, enhancing BPS and ITS services, and disrupting the market,” said Sarah Burnett, vice president of research at Everest Group. “Our body of research on Service Optimization Technologies arms organizations with a deeper understanding of the industry landscape, the technologies themselves and best practices for implementation and value optimization. It’s the information organizations need to capitalize on SOT for competitive advantage.”

Everest Group SOT research subscription offers buyers, service providers and enablers a wide range of research content:

  • For the buyer community this includes technology vendor and service provider capability assessments, partnerships, commercial models, deployment characteristics, adoption trends and use cases.
  • For technology vendors and service providers this includes insights into market developments and trends, market sizing, including buyer size and region, contract and contract scope details, shifts in operational and commercial models, and vendor and provider capabilities and performance.

The research also addresses key hot topics, including impact of external developments on the market.

The SOT subscription includes these recent reports:

Everest Group subscription services are offered in 12-month terms and are valid for an entire organization, with no limits to the number of individuals within the organization who can access the materials via an interactive web site. In addition, subscriptions may include other services and support, such as data cuts/analysis, workshops and inquiries with analysts. The combination of research and analyst access equips organizations with the data and insight needed to make smart business decisions

Robotic Process Administration Helps GICs Achieve Big Productivity, Cost Savings Gains | Press Release

February 8, 2016

Everest Group white paper documents unique synergy of Global In-house Centers and Robotic Process Automation.

Global In-house Centers (GICs) are increasingly adopting Robotic Process Automation (RPA) to drive quality and productivity gains and savings of up to 40 percent in their delivery of Business Process Services (BPS) for the enterprise. The combination of RPA and GICs represents a unique synergy, so much so that the adoption of RPA in GICs is no longer a matter of “if” but “when,” according to Everest Group, a consulting and research firm focused on strategic IT, business services, and sourcing.

“RPA offers 25 to 40 percent additional savings on BPS spend compared to current offshore operations, and early adopters have logged impressive results across a wide range of efficiency and productivity metrics,” said Aditya Verma, practice director at Everest Group. “So it’s not surprising that nearly 78 percent of GICs have either implemented or are actively planning RPA, and the sizzling RPA software market has grown 100 percent each year for the last two years.”

Describing RPA as “the next imperative,” Everest Group analyzes the distinct position of GICs to provide leadership in the robotic automation journey for their enterprises in a newly published white paper: “Upshifting Value and Talent through Robotic Process Automation.”

The white paper discusses:

  • Importance of GICs in driving RPA for the enterprise
  • Characteristics of GICs that are likely to find RPA attractive
  • Success stories of RPA in GICs
  • Keys to success for GICs looking to adopt RPA

Based on Everest Group’s extensive research examining the state of RPA and the broader topic of Service Delivery Automation (SDA), the white paper is available for free download (with registration) here.

Download Publication-Quality Graphics

High-resolution graphics illustrating key takeaways from this report can be included in news coverage, with attribution to Everest Group. Graphics include:

Global Services Growth Masks Shifting Market Dynamics and Uncertain 2016 Outlook | Press Release

February 4, 2016

Everest Group to recap game-changing global services trends of 2015, unveil predictions for 2016, in February 9 webinar

While the global services industry experienced continued growth in 2015, the drivers of that growth evolved: Next-generation technologies, innovative talent strategies, and new regulations—among others—are affecting growth and leading to an uncertain outlook for 2016, according to Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing.

Everest Group will explore these evolving drivers and their implications for global services buyers and providers in a complimentary webinar about Everest Group’s latest research on the global services market.

– Market Vista™ | Global Services Developments: 2015 Trends & 2016 Predictions

– Tuesday, February 9, 2016

– 9:00 am CST, 10:00 am EST, 3:00 pm GMT, 8:30 pm IST

***Register here.***

During the webinar, Everest Group experts will provide commentary on the global services developments in the fourth quarter of 2015, as well as a recap of the past year.

Highlights will include:

  • Outsourcing trends
  • Market trends across key industry verticals and buyer geography segments
  • GIC market trends and analysis
  • Insights into location activity in offshore and nearshore geographies

Hosted by Eric Simonson, managing partner of research, Salil Dani, vice president of sourcing, and Sakshi Garg, practice director of global sourcing, the webinar also will feature market predictions for 2015 and the implications of those predictions for stakeholders.

In conjunction with the webinar, Everest Group will publish two reports:

  • Market Vista™: Q4 2015
  • Market Vista™: 2015 Year in Review

***Free previews of both reports will be available for download on February 9 here.***

About Market Vista™

Market Vista —a subscription-based service of Everest Group—provides the research, analysis and insights that enable Global Sourcing professionals to navigate the complexity of today’s sourcing market and make informed and impactful decisions. Market Vista research includes developments related to service providers, locations, processes and sourcing models, as well as a comprehensive outlook of the fast-evolving global offshoring and outsourcing market.

Everest Group’s Peter Bendor-Samuel Carries Warning to NASSCOM India Leadership Forum: Beware the Digital Trough! | Press Release

February 2, 2016

Everest Group CEO, research analysts, and other executives speak about digital adoption, service delivery automation, benchmarking, and other hot topics at upcoming sourcing events

While enterprises tend to be very optimistic about their digital initiatives early on in their digital adoption journey, enthusiasm often stalls as the going gets progressively tough, according to research conducted by Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing.

At this year’s NASSCOM India Leadership Forum, Everest Group CEO Peter Bendor-Samuel will talk about this “trough” in digital adoption, explain why it happens, and suggest what enterprises and service providers must do differently to avoid derailing digital transformation journeys. Bendor-Samuel will lead the Analyst Corner session Beware the Digital Trough! at the NASSCOM event in Mumbai, India, on February 11.

On the same day in London, Sarah Burnett, research vice president (Europe), will lead the inaugural “Service Delivery Automation” Special Interest Group (SIG) meeting of the National Outsourcing Association.

Other Everest Group experts will be presenting at these upcoming events in February and March:

 

12 Percent Growth in Healthcare IT Outsourcing is Forecasted as Providers Step Up Investments | Press Release

January 28, 2016

Healthcare providers will drive growth, make up for historical lag in IT adoption in effort to trim expenses and enable innovation.

Facing tapering margins, regulatory reforms and evolving customer-centricity, the global healthcare industry will step up its investments in technology in an effort to trim expenses and enable innovation. Consequently, the global healthcare ITO market is expected to grow at 12 percent compound annual growth rate between 2014 and 2020, reaching US$68.3 billion in 2020, according to a new research published by Everest Group.

“The healthcare provider segment is expected to witness the highest percentage growth in ITO activity during 2014-2020, as compared to the life sciences and payer segments,” said Abhishek Singh, practice director at Everest Group. “Through new IT investments, healthcare providers will be making up for their historical lag in technology adoption and gearing up for various mandates such as payer-provider convergence, patient-centric care, evolving reimbursement models, and value-chain digitization.”

These results and other findings are explored in a recently published Everest Group report: “IT Outsourcing (ITO) in the Healthcare Provider Industry – Annual Report 2015: Building a Coherent Value Proposition.”

The full report provides an overview of the IT market for the healthcare provider industry, which includes large health systems, stand-alone hospitals and clinics, pharmacists, physician practices and diagnostic laboratories. Everest Group’s analysis includes trends in the healthcare industry, market trends and activity related to large contract relationships, the service provider landscape, the significance of technology opportunities and the outlook for 2016-2017.

***Download Complimentary 12-page Preview Report Here*** (Click on report title and click “login to view preview.” Registration is required to receive the free download.) This preview summarizes the report methodology, contents and key findings and offers additional resources for further study.

Other key findings:

  • The global healthcare ITO market reached $34.5 billion in 2014; this healthy 9 percent year-on-year growth was led by strong growth in the healthcare provider and life sciences segments of the market and was partially offset by a decline in the payer segment.
  • Regulatory requirements, payer-provider convergence, customer-centric care and M&As/restructuring will fuel growth in global healthcare ITO market.
  • North America continues to remain the principal region for large-sized provider ITO transaction activity.
  • Within the healthcare provider ITO segment, over US$9 billion worth of contracts are due for renewal between 2016 and 2020.
  • Patient engagement and population health management (PHM) have become the predominant mandates being actualized by healthcare providers through technology.
  • Service provider organizations looking at succeeding in this market need to focus on building expertise in key service lines, developing/acquiring talent and skills demanded by providers, and aligning themselves with the evolving vendor engagement models.

Everest Group Announces Winners of Inaugural IT Service Provider of the Year Awards | Press Release

January 26, 2016

Accenture, Cognizant, IBM, TCS and Wipro top the list of IT service providers who consistently rank among top performers in Everest Group’s PEAK Matrix™ reports.

Everest Group—a consulting and research firm focused on strategic IT, business services and sourcing—today announced the winners of the inaugural PEAK Matrix Service Provider of the Year™ awards for IT services. The awards recognize IT service providers who have demonstrated consistent leadership in the PEAK Matrix reports issued by Everest Group in the previous year.

In 2015, Everest Group issued 26 PEAK Matrix reports, evaluating a total of 59 service providers in various segments of the IT services market. Twenty of the 59 providers are recognized in the 2016 PEAK Matrix Service Provider of the Year Awards.

The 2016 PEAK Matrix Service Provider of the Year Awards for IT Services comprise:

  • The ITS Top 20 list—recognizing the top 20 providers of IT services (ITS) based on a consolidated scoring of rankings within the 2015 PEAK Matrix reports.

Cognizant, Accenture, IBM, TCS and Wipro won the top five spots (in that order).

  • Top Leaders and Star Performers—Awarded to IT service providers who appeared in “Leader” or “Star Performers” positions most prevalently within five industry segments: IT Services (overall), Healthcare and Life Sciences (HLS); Banking, Financial Services and Insurance (BFSI); Cloud and Infrastructure Services (CIS); and Application and Digital Services (ADS).

Accenture, Cognizant, HCL, HPE, IBM, Infosys and Tata Consultancy Services were recognized either as Leaders of the Year, Star Performers of the Year, or both.

Cognizant had a dominant presence in the 2016 honors, claiming the No.1 spot in the ITS Top 20 list as well as being named “Star Performer” in the HLS segment, sharing “Leader of the Year” honors in the HLS with Accenture, and sharing “Leader of the Year” honors in the BFSI segments with Accenture and Tata Consultancy Services. Accenture also made a particularly strong showing, earning the No. 2 spot in the ITS Top 20 list as well as being named in the “Leader of the Year” in overall IT services and ADS categories and sharing “Leader of the Year” honors in the HLS and BFSI categories.

***All winners are listed in the report, “2016 PEAK Matrix Service Provider of the Year Awards” available for complimentary download here.***

“For today’s enterprises, designing and operating an IT infrastructure that supports business objectives is a daunting task. Enterprises must navigate not only the complex landscape of next-generation and legacy technology but also a complex provider portfolio,” said Jimit Arora, vice president at Everest Group. “The PEAK Matrix Service Provider of the Year Awards are here to help enterprise buyers identify the best of the best – the IT service providers with strong, broad-based capabilities and successful service strategies that align well with the evolving enterprise IT demand.”

About the PEAK Matrix™

The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. Market success is measured by revenue, number of clients and year-over-year growth. Delivery capability is measured by scale of operations, scope, technology and innovation, delivery footprint and buyer satisfaction. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers. Everest Group recently announced a recalibrated methodology, in which innovation, intellectual property and technology take center stage.

Banks, Insurers Are Leveraging Big Data, Analytics—And Looking for Help | Press Release

January 18, 2016

The global banking and insurance industries are grappling with shifting regulatory requirements, eroding margins, rising cost pressures, an uncertain economy and elevated customer expectations. Facing such challenging headwinds, banks and insurers are investing more in big data and analytics capabilities as they seek to find innovative solutions for efficiency and growth, according to new research published by Everest Group.

Banks, for instance, are using big data and analytics to develop deep insights into customer behavior and fraud and risk identification and to reinvent their business models to enhance customer experiences. Similarly, insurers are using big data and analytics to improve customer sales efforts, operations, underwriting, risk management, marketing and customer support.

“Both banks and insurers are turning to service providers for assistance with big data and advance analytics capabilities,” said Ankur Seth, practice director at Everest Group. “Leading service providers in the industry are responding with a consulting-led approach. They are investing in innovative solutions, offering flexible contracting terms and developing talent pools to help drive growth and efficiency and to solve other business challenges.”

These findings and more are discussed in detail in two reports recently published by Everest Group:

  • Big Data and Analytics Services in Global Banking – Service Provider Landscape with PEAK Matrix™ Assessment 2015. In this report, Everest Group analyzes the capabilities of 17 leading technology service providers for big data and analytics services in the global banking market. Accenture, Cognizant, IBM, TCS and Wipro are identified as Leaders.

***Download the complimentary PEAK Matrix preview report here.**

  • Big Data and Analytics Services in Global Insurance – Service Provider Landscape with PEAK Matrix™ Assessment 2015. In this report, Everest Group analyzes the capabilities of 14 leading technology service providers for big data and analytics services in the global insurance market. Accenture, Cognizant, IBM and TCS are identified as Leaders.

***Download the complimentary PEAK Matrix preview report here.***

About the PEAK Matrix™
The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. Market success is measured by revenue, number of clients and year-over-year growth. Delivery capability, is measured by scale of operations, scope, technology and innovation, delivery footprint and buyer satisfaction. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers. Everest Group recently announced a recalibrated methodology, in which innovation, intellectual property and technology take center stage.

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