Strategy is not the sole domain of the CIO. IT leaders must partner with the C-suite to articulate the business benefits of IT transformation.
Businesses are moving to the cloud for efficiency, digital efforts or a combination of both, said Mukesh Ranjan, senior analyst, information technology services at Everest Group.
Making cloud technology interoperate with other systems, working seamlessly between efficiency and digital standards, poses a stiff challenge.
Peer pressure comes into play and companies want to move to the cloud to optimize costs or drive operations, without a strategic business case, Ashwin Venkatesan, VP of information technology services at Everest Group, told CIO Dive.
Read more in CIODive
60-minute webinar held on Wednesday, August 7, 2019 | 9 a.m. CDT, 10 a.m. EDT, 3 p.m. BST, 7:30 p.m. IST
The IT services market is in a state of constant flux. Digital technologies, the explosion of data, and innovations in the technology startup ecosystem are changing thinking in the C-suite across industries. Based on our popular PEAK Matrix™ assessments, this webinar will provide a view into the most important shifts taking place in sourcing of services and technologies. This is the analysis and insights you need to make critical decisions about key elements of your digital services strategy.
In this 60-minute session, we’ll answer the following:
- How are different industries approaching digital technology adoption?
- What is digital and how does it differ from traditional IT services?
- Where is growth in the IT services market expected to come from and how does that potentially inform your strategy?
Who should attend, and why?
Executives across BFSI, Healthcare & Life Sciences planning their next digital services move and needing to understand the latest key developments in the sourcing of services and technologies.
Can’t join us live? Register anyway!
All registrants will receive an email (typically within 1-2 business days of the live delivery) with the link to session slides and on-demand playback.
Intelligent Automation Week Chicago 2019 conference in Chicago is the leading event in RPA, Cognitive Intelligence, and AI bringing together hundreds of executives spanning multiple functional areas such as shared services, IT, process improvement, operations and more. This year’s event will cover a wide gamut of Intelligent Automation technologies including RPA, artificial intelligence, machine learning, cognitive, and much more.
The program includes deep-dive and interactive Workshops, informative Case Studies, stimulating Interactive Discussion Groups (IDGs), and supplementary track sessions.
Executive Vice President and Distinguished Analyst Sarah Burnett will present a session titled, “Unlocking the Power of MultiFormat Data,” featuring exclusive Insights from Everest Group’s Ground-Breaking Intelligent Document Processing (IDP) Playbook.
August 5-8, 2019
Sheraton Grand Chicago
Sarah Burnett will be speaking at the event.
Double-digit procurement outsourcing growth is expected, as CPOs leverage service provider innovation to tackle complexity of next-gen demands.
The roles and responsibilities of the chief procurement officer (CPO) are changing—from back-office operations leader responsible for minimizing procurement expenses to a digitally-enabled C-suite member improving business outcomes and customer experience, according to new research from Everest Group.
Procurement has become deeply complex. Whereas the traditional focus areas of CPOs have been cost reduction, risk mitigation and supplier performance evaluation, the next-generation focus areas of CPOs are business partnering to enhance outcomes, digital enablement to improve the interface between procurement teams and other stakeholders, and maximizing value through supplier innovation.
“CPOs are being asked to move beyond cost containment to become contributors to corporate growth,” said Shirley Hung, vice president at Everest Group. “To respond to this mandate, CPOs must lead their teams and tap the expertise of third-party service providers to revamp processes, implement digital solutions, evolve recruiting strategies, and redefine what it means to be a successful procurement organization. As a result, we expect procurement outsourcing to sustain double-digit growth for the next two years.”
According to Everest Group, the “next generation CPO” must focus on four imperatives to stay relevant:
- Process transformation: Redesign current processes and streamline them as per the evolving digital landscape.
- Digital interventions: Implement digital levers such as Robotic Process Automation (RPA), analytics, and AI to drive efficiencies, cost savings, and enhance customer experience.
- Talent Management: Realign hiring and training strategies to keep the talent pool updated.
- Change in Metrics to Measure Success: Revise key metrics used for measuring success—key performance indicators (KPIs) and service level agreements (SLAs)—to focus more on outcome-based business metrics.
These insights and recommendations are detailed in a recently published Everest Group report: “Procurement Outsourcing (PO) Annual Report 2019: Evolving Imperatives for Procurement and What a Chief Procurement Officer (CPO) Should do to Remain Relevant.”
The report also provides comprehensive coverage of the global PO market including detailed analysis of market size and growth, buyer adoption trends, key emerging themes, and service provider landscape.
Other key findings:
- The global multi-process Procurement Outsourcing (PO) market is expected to witness a growth of 11-12 percent in the next three years to reach US $3.6 billion in size by 2020.
- Global growth dynamics vary significantly, with North America continuing to lead the market and emerging geographies such as Asia Pacific, Latin America, and Middle East and Africa witnessing the highest year-on-year growth in 2018.
- The market is dominated by a limited set of players. Accenture, IBM and GEP continue to command more than 50% share of the market.
- Each geography and vertical has a different set of leading service providers in terms of market share. Accenture is the only service provider to appear in the top five service providers across all regions and industries.
About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problem-solving skills and original research. Details and in-depth content are available at https://www.everestgrp.com.
Enterprise spend on digital initiatives is significant and rising quickly – we anticipate an increase of 20-30% in digital spend over the next one to two years. But money doesn’t necessarily buy success; more than three quarters of enterprises fail in their digital transformation initiatives. Why is that? And what do those that succeed do differently?
Read more in Intelligent Sourcing
The life sciences industry is undergoing a fundamental change in its business model. The shifts from blockbuster drug to precision medicine and from volume-based to performance-based models have disrupted the life sciences ecosystem. The cost of clinical trials is continuing to climb and in order to move away from this high-cost R&D model as well as to enable closer engagement with patients. Nitish Mittal and Kanika Gupta at Everest Group explain why pharma and research companies are turning to digital technologies to transform clinical development.
Read more in IBI media
Democrats in Congress are backing legislation that requires companies to disclose the location of employees. The bill’s intent is to identify firms that are outsourcing jobs overseas. One supporter, U.S. Rep. Cindy Axne, an Iowa Democrat, is also interested in something else: identifying companies that send employees overseas to train their replacements.
Regardless, the predominant outsourcing model is still to send services employees to the U.S. for training, said Sakshi Garg, vice president of the Dallas-based Everest Group’s Global Sourcing practice.
Read more in TechTarget
Computer breaches from Russian or Chinese hackers get the headlines, but the reality is you are more likely to be a victim from an insider. It turns out that as much as 60 percent of all attacks were carried out by insiders – either overtly or inadvertently.
It’s more prevalent than you might think. Research by the Everest Group found that upwards of 50 percent of the spending in IT doesn’t go through a sanctioned IT process. That number may seem high, but when you include things like cloud-based sales software, departmental-specific applications, or personal devices, you can see how it might add up if your IT leadership isn’t on top of it.
Read more on SNB