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Why is Innovation Important Today? | In the News

By | In The News

People say data is the new oil – but is it? That’s the hype; let’s look at some facts. The sheer amount of data in the universe is growing: there will be 40 zettabytes of data in the digital universe by 2020 – that’s roughly 10 times the data that existed in 2018. However, less than 5% of this data is tracked and translated into structured form, and the amount of data that is actually used is even less.

Read the article by Everest Group analysts Rohitashwa Aggarwal and Shailee Raychaudhuri in Intelligent Sourcing

Despite Different Commentaries, Infosys And TCS Converge On Target | In the News

By | In The News

India’s top two IT services companies, Tata Consultancy Services and Infosys, could both post double-digit growth in the ongoing fiscal year, with the former moderating expectations after its first quarter results and the latter raising revenue guidance for the full year.

TCS’ platform strategy will likely result in more volatile growth, analysts said. “TCS’ and Infosys’ divergent commentary is a result of a number of issues,” said Peter Bendor-Samuel, CEO of IT consultancy Everest Research. “TCS’ deceleration is largely attributed to the large platform contracts which it signed last year. These create a lumpy dynamic, as the growth tails off after they have been ingested; it is quite possible that once this lumpy impact subsides, TCS will bounce back. This will clearly be a factor if they are able to add more large platform deals.”

Read more in The Economic Times

Wipro’s Azim Premji Lays the Road Ahead in His Last AGM as Executive Chairman | In the News

By | In The News

Wipro’s 73rd Annual General Meeting on July 16 marked the final appearance of Azim Premji as Chairman of the company. The outgoing chairman, who is set to step down on July 31, laid out the focus of Wipro in the coming years.

Yugal Joshi, Vice President, Everest Group, a consultancy firm, said in an earlier interview to Moneycontrol, “The key challenge for Rishad and Neemuchwala is to bring market-leading growth.”

Read more in Money Control

Three Pillars for Scaling Intelligent Automation: Process, Technology, People | In the News

By | In The News

Scaling intelligent automation is proving more difficult than anticipated, says Chris Huff, three pillars, involving process, technology and people are key.

What this means is that for businesses to achieve automation, they’ll need to combine multiple technologies, according to Everest Group. However, since integrating solutions from multiple vendors is cumbersome, an Intelligent Automation platform approach is recommended to minimise multiple procurement, vendor management and stitching the technologies together. Thus, it’s important to evaluate vendors in terms of their full technology portfolio. An integrated, unified platform with a complete mix of technologies should be capable of intelligently processing documents while automating downstream activities.

Read more in Information Age

Cognitive Automation: The Next Panacea or Evil Job Bandit? | In the News

By | In The News

While it’s impossible to predict exactly what the future holds as more enterprises and service providers adopt cognitive automation to improve many of their manual processes, reading the tea leaves—or better yet—looking at actual early use cases suggests it’s both: job thievery and, if not a panacea, some fairly drastic improvements in efficiency and quality results.

A recent Everest Group blog has identified examples of “one robot per employee” where the emphasis is on automating discrete tasks of knowledge workers instead of attempting to apply automation to an entire workflow. The article cites examples such as automatically changing passwords based upon IT policies and automated logging into multiple systems. Other automation efforts for discrete tasks include meeting-setting in which a virtual agent coordinates identification of different attendee availability.

Read more in Future of Sourcing

An In-Depth Guide to HRO: How Is HR Outsourcing Changing? | In the News

By | In The News

HR outsourcing (HRO) has matured. Once little more than a cost-cutting exercise, outsourcing your HR – or specialisms within it – is a nuanced strategic decision which will be different for every organisation. Annie Makoff examines how HR outsourcing has changed and looks at what employers need to consider when they’re deciding what to outsource.

Anil Vijayan, practice director at research and consulting firm Everest Group confirms there is still plenty of growth within the outsourcing market, particularly within multi-country payroll outsourcing (MCPO), which reflects the ongoing need for companies to keep on top of compliance and global regulation.

Read more in Personnel Today

Call Centers Anxious on Gov’t Ban for New Applications in NCR Ecozones | In the News

By | In The News

The Contact Center Association of the Philippines (CCAP) sees the need of more dialogues between the industry and the governing bodies since investors prefer Metro Manila as their first landing destination before expansion efforts come into play.

The Philippines remains the leading CX delivery provider despite the 2018 global growth in IT and Business Processing Services (BPS) grinding to a slow 3-4% according to the consulting firm Everest Group. The Texas-based firm projects a forecast of 4% growth and signs of a rebound this year.

Read more in Newsbytes

Everest Group Launches Global Top 50 List for Engineering Services Providers | Press Release

By | Press Releases

Altran is No. 1 in the industry, Alten takes No. 2, and HCL ranks No. 3 among world’s largest third-party engineering services providers

Everest Group today announced the launch of “The Everest Group Engineering Services Top 50™,” an annual ranking of the world’s largest third-party providers of engineering services (ES). The list identifies the largest ES providers, their growth and coverage cutting across geography and verticals. The global ES market is valued at more than US$40 billion.

“The design-to-development process has traditionally been something enterprises kept in-house, but the need for scalability and rapid innovation has compelled them to consider third-party providers,” said Akshat Vaid, vice president at Everest Group. “As a result, engineering services providers have grown, with both more and larger deals as they have expanded their industry breadth, solution breadth and global footprint. They are also developing domain expertise and gaining scale through IP engagements and acquisitions. The market is becoming more favorable to engineering services providers as more high-end engineering services opportunities are being outsourced.”

Topping the 2019 list of ES providers are these 10 leaders:
1. Altran
2. Alten
3. HCL Technologies
4. AVL
5. AKKA Technologies
6. Accenture
7. Tata Consultancy Services
8. Wipro
9. AF
10. L&T Technology Services

***Download a complimentary copy of the 2019 Everest Group Engineering Services Top 50 list and analysis***

The ranking is based on both revenues (75% of the composite score used for ranking) and year-on-year growth for the calendar year 2018. Growth has two sub-parameters: absolute growth (measured as change in ES revenue in US$ million and accounting for 12.5% of the composite score) and percentage growth (measured as percentage change in ES revenue and accounting for the final 12.5% of the composite score).

***Video: Watch “The Everest Group Engineering Services Top 50“***

Other highlights:

Top 10 ES providers by revenue:
1. Altran
2. Alten
3. HCL Technologies
4. AVL
5. AKKA Technologies
6. AF
7. Accenture
8. Tata Consultancy Services
9. Wipro
10. Bertrandt

Top 10 ES providers by growth:
1. L&T Technology Services
2. Altran
3. Globant
4. HCL Technologies
5. SII Group
6. GlobalLogic
7. KPIT
8. EPAM
9. Mindtree
10. Tech Mahindra

Most large ES providers (62%) are pure play. Broad-based service providers that offer ES as part of a broader portfolio (IT and/or business process services, consulting, technology products, etc.) represent 38% of the global ES market; these organizations are focusing on increasing revenue from ES to offset the risk of lower growth and narrowing margins in traditional areas such as application development and maintenance.

Top 5 broad-based ES providers (by revenue):
1. HCL Technologies
2. Accenture
3. Tata Consultancy Services
4. Wipro
5. IBM

Top 5 pure play ES providers (by revenue):
1. Altran
2. Alten
3. AVL
4. AKKA Technologies
5. AF

Europe has the highest number of ES providers, with more than half of the companies in the list (52%) headquartered in the region. APAC and North America follow at 32% and 14% of the companies, respectively.

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 http://www.everestgrp.com.
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