Indian IT services peers of Accenture have faced challenges during the first quarter (April-June) due to delay or cancellation of certain projects in the wake of the Covid-19 pandemic. That said, Indian companies have comparatively less dependence on the segment that contributed majorly to the US giant’s decline this quarter.
“We believe that the other large service provider firms are also experiencing short term pain in consulting, particularly in their ERP implementation practices as well as all of discretionary spending. However, the industry pipelines for new work are very full and all firms including Accenture are posting record bookings,” said Peter Bendor-Samuel, chief executive, Everest Group, an IT advisory firm.
