Have you seen the results of our May 2021 Quick Poll on GBS sourcing trends? Read about the changes.

Author: Peter Bendor-Samuel

Challenges In Companies Reducing Third-Party Service Providers | Blog

We at Everest Group see companies now taking a step back from their practice of the last 10-20 years in contracting with third parties for many different services across the BPO or BPS category and IT stacks. Their step-forward goal is portfolio rationalization – consolidating and reducing the number of vendors and service providers in their portfolio. This creates substantial challenges in their organizations as well as pricing challenges in the services industry.

Read more in my blog on Forbes

Three Critical Tips For CIOs Managing Change Resistance | Blog

Many of my blogs over the past several years focus on the need for – and challenges of – IT groups becoming strategic partners in delivering IT services that meet the business needs. My three most recent blogs (Why Is IT And Business Alignment So Elusive?, Where Is The Bottleneck Between Business And IT Aligning?, and How A CIO Can Align IT With Business Needs) provide insights into why alignment is so elusive. Like any major transformational change, there is always stakeholder resistance on both the IT and the business sides. What can a CIO (or CTO or other IT leader) do to manage potential resistance?

Read more in my blog on Forbes

COVID And India’s Viability As Third-Party Services Destination | Blog

India is going through a new COVID-19 wave that is truly horrific. On May 19, India set the world record for the most COVID-19 deaths in a single day (4,529 deaths and 267,334 new cases in the prior 24 hours). In the past month, its COVID-19 fatalities increased by sixfold. A huge percentage of the nation’s workforce is affected (either sick or caring for family who are sick). Businesses in the US and Europe have questions about whether India is still viable as the primary destination for third-party services. Read this blog for my answer.

Read more in my blog on Forbes

How To Achieve Your Company’s Corporate Social Responsibility In Services Components | Blog

Companies today are socially accountable to their stakeholders, the public and government entities. Corporate Social Responsibility (CSR) incorporates the commitment to ensure workforce diversity and to reduce carbon footprint. It matriculates down to every aspect of a company; thus, it also includes third-party services providers, Global Business Services (GBS) centers and a company’s supply chain organizations. How can your company influence CSR and continue to improve it in external services organizations when it is not a contractual commitment?

Read more in my blog on Forbes

Where Is The Bottleneck Between Business And IT Aligning? | Blog

Stuart McGuigan, the former CIO of the U.S. Department of State and, earlier, the CIO of Johnson & Johnson, says innovation-driven companies (like pharmaceuticals) usually “either furiously spend money to support the launch of new products or later go back and then cut costs. To do both at the same time requires an operational mindset and an incredibly focused use of technology.”

Peter’s Perspective: The Top 3 Reasons Our Agreement with Wavestone Is the One of the Best Things to Happen in 2021

As you have likely read, effective today, we have signed an agreement and formed an alliance with Wavestone.

As part of the agreement, we are transferring our Consulting practice to Wavestone, and as we do this, we are also forming an alliance. With the alliance, Wavestone will be our exclusive partner in North America, and our former consulting colleagues will have privileged access to Everest Group’s research analysts, published research, and Everest Group Market Intelligence – accessing a similar level of content that was available prior to the acquisition.

All good stuff.

But I would be disingenuous if I didn’t acknowledge that this decision was emotionally fraught.

From a personal perspective, the Consulting practice was a quick second iteration of the company that I founded in 1991. That’s nearly thirty years of blood, sweat, and tears – the majority which were happy ones – developing and growing a consulting practice to help companies extract the value from the sourcing of services and digital transformation. The most valuable asset of that practice was and is the people – and, of course, that’s where emotion enters the picture.

It’s been thirty years of friendships — watching people progress in their careers, some moving on to other opportunities, others retiring, and new consultants coming onboard each year. Their individual and collective ambition and intelligence – and willingness to challenge me – made the practice what it is and helped shape me professionally and more importantly personally.

This brings me to the number one reason why the agreement is one of the best things to happen in 2021:

#1 – This is in the best interest of our consultants. Moving to Wavestone gives them a bigger field to play within, while working on potentially larger, more complex projects. As employees of Wavestone, our consultants will have broader advisory resources to draw upon on behalf of their clients.

Wavestone, headquartered in Paris and listed on Euronext, is one of the leading independent consulting firms in France and has offices in New York, Philadelphia, London, Hong Kong, Brussels, Geneva, Luxembourg, and Casablanca. It employs 3,300 staff and generates sales of approximately €420 million and has an ambitious international growth strategy that is particularly focused on two geographies—the UK and North America.

Wavestone values the expertise that our consultants have to offer and believes the team will play an integral role in helping it expand its areas of expertise, scale its resources, and pursue further growth opportunities in North America. It also shares Everest Group’s commitment to delivering unparalleled service and to being a great place for exceptional people to work.

So, objectively, Wavestone provides a great home and career path for our consultants.

#2 Consulting clients will benefit from the agreement. Our consulting practice has grown rapidly over recent years, and our Fortune 500 and other clients have asked us to broaden and deepen the services that we provide. As a public company, Wavestone is well-positioned to provide the investment this requires, and Wavestone will provide a broader set of consulting services to these clients. In short, clients will benefit from Wavestone providing more investment and more access to skills.

#3 The move is in the best interest of Everest Group’s Research practice and its clients – current and future. This move allows us to place all our investment into our fast-growing research practice. This singular operating model and focus allows us to respond to the market demand to expand and deepen our offerings – while staying committed to our focus on strategic IT, business process, and engineering services. We have recently expanded our coverage in life sciences, talent, and pricing. We just added coverage of marketing services and impact sourcing and sustainability. Our ever-expanding portfolio of expertise is highly differentiated, and we look forward to growing it further.

Our clients tell us that it’s this focus in the services segment that provides the value that they seek – and why they consider it an upgrade from alternatives in the market.

So, we enter the future with a refined focus and expanded opportunities, new but familiar partners, and excitement beyond measure about how we’ll more fully guide clients in their journeys.

For your consulting needs related to your technology and business process optimization and sourcing challenges, please reach out to our exclusive Consulting partner in North America, Wavestone.

Contact Wavestone for support with your technology and business process optimization, sourcing challenges, and all your digital transformation needs.

Why Is IT And Business Alignment So Elusive? | Blog

Today’s pace of business demands that IT move quickly to address business needs – which has a prerequisite of IT getting very tight alignment to what the business needs and doing that work in the right order. It seems basic. But IT has a bit of a history of focusing solely on IT performance – cost, quality and speed – and being a little light on clear business outcome metrics. With these measures, IT ends up driving toward standard solutions in the name of efficiency but forgets to measure business effectiveness. Here is why this happens.

Read more in my blog on Forbes

High Spike In COVID-19 In India Affecting Workforce For Third-Party Services In The US | Blog

India is experiencing a COVID-19 spike that started in April and is worse than the original outbreak months ago. Not only are more people infected, but more are also hospitalized this time. It is particularly difficult because the variant that seems to drive this spike is more infectious and affects young people as well as elderly people. It clearly affects offshore services work performed for US companies.

Read more in my blog on Forbes

Evolving Challenges In Managing Third-Party Services | Blog

Because of a long effort over the years for companies to become better at providing services, they became more dependent on third-party services (technology providers, platform providers, and services companies). As a result, they now need to become more sophisticated in monitoring the risks of services from third parties. This requires that they professionalize how they procure and manage these services and requires a more in-depth understanding of changes in their vendor/providers’ management, financial positioning, and capabilities.

Read more in my blog on Forbes

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