Category: Blog

How to Deliver Exceptional Customer Experiences | Blog

Customer experience is decidedly a top focus of company operations in 2022. As companies assess whether their digital-age investments achieve success, they increasingly look through the customer-experience lens. The goal in today’s digital platform world is to significantly improve customer, employee, and other stakeholder experiences. Platforms certainly have the capability of delivering exceptional customer experiences. So why are so many companies consistently providing disappointing customer experiences? We at Everest Group looked at the way companies apply the technologies and found the reason for the disappointing experiences.

Read more in my blog on Forbes

Redesigning Design: Top Design Tool Capabilities to Look for in 2022 | Blog

Design has seized the spotlight in the software development lifecycle, making this an exciting time for enterprises to choose modern tools that spark cross-functional collaboration and creativity to create human-centric products. But what capabilities should you look for in selecting from these new offerings? Read on to learn about the latest must-have features in our second blog that continues the conversation from our last posting, The New Era of Design and Prototyping: Modern Tools Break the Barriers in Software Development.

Overcoming enterprise design challenges  

Designers, engineering, and product and marketing teams frequently operate in silos. Separate planning and tracking methods fueled by a lack of communication between teams leads to inferior quality products and poor user experiences. Inefficient design workflows also impact outputs.

Adding to this challenge is a plethora of siloed design tools for diverse needs. Having individual tools for every workflow stage leads enterprises to invest in multiple design products, creating massive disintegration in the Software Development Life Cycle (SDLC). Mastering the various tools and maintaining a continuous workflow in the designing process becomes an obstacle for designers too.

Can design tools enhance the software development experience?

In today’s world, where user experience is at the core of every business, it is of utmost importance for every stakeholder in the SDLC to be at the center of designing, redesigning, and continuously improving the product.

Market players like Figma, InVision, Sketch, Adobe XD, and many others have developed design and prototyping tools that enable a collaborative and integrated design approach. These tools help design-forward companies provide a platform, develop a practice, and empower people to build the design-led mindset during software development and work more efficiently at scale.

Key capabilities of design tools in 2022

Among the latest features to look for when selecting from the various offerings are:

  • Collaboration – The old siloed ways of working between designers and developers has transformed into real-time collaboration. Features are available to effectively maintain version history and track changes, enabling a smooth handoff to developers. These tools have enabled business and IT teams to collaborate on the same platform and provide contextual feedback even during the designing and prototyping phase. This puts the entire team on the same page, which is especially valuable in the remote working setup
  • Accessibility – Web-based, on-cloud, and platform-independent design files make accessibility easy for all team members. Options exist to change the access for some users to view- or edit-only. These features eliminate the dependency on team members to share files via any other medium
  • Reusability and Analytics – Having robust design and shared libraries eliminates rebuilding everything from scratch and adds consistency in following enterprise-wide design and brand guidelines. Team efforts are maximized with reusable libraries that have built-in analytics to track the components being reused across the enterprise. Functional analytics plugins enable the use of pre-built data and designs in current projects
  • One-stop product design workflow solution – Brainstorm, design, prototype, collaborate, and handoff – all in one place. Seamless integration with other technology vendors or existing tools used by the enterprise is now possible. For example, Figma can be easily integrated with the recently launched Amplify Studio by AWS. This enables designers to build the interfaces on Figma and developers to then connect seamlessly to Amplify Studio to build the code. Similarly, these design tools can be integrated with Maze to test prototypes with real users. Many other integrations also are available

Exhibit 1: Variations in key capabilities among top design tools

Picture1 2

Effectively using these tools will not only help seamlessly embed design in software development but also build agility, operational excellence, and a feedback-centric approach in the SDLC.

With the increased potential and adoption of these design tools, we will watch with interest to see which players leverage more Artificial Intelligence (AI) to analyze data and suggest the best design content. Such enhancements will reduce manual tasks and enable stakeholders to focus on the bigger picture during the SDLC.

Looking at the wide range of design tools in the market, we will explore enterprise sourcing considerations for design and prototyping tools in our next blog. To share your views, contact Ankit Gupta, [email protected], Sonal Singh, [email protected], or Swati Ganesh, [email protected].

For more insight on integrating digital capabilities into the enterprise, watch our on-demand webinar, The Blind Side of New-age Apps.

Building Global Centers of Excellence (CoEs) in GBS Organizations to Drive the CEO Agenda

The Global Business Services (GBS) market has witnessed improvement in performance, enhancements in role, and growth across verticals and functions over the years. In fact, the pandemic served as a catalyst for GBS organizations to step up and deliver higher value-add services, becoming a pillar for enterprises to evolve at a much faster rate. However, as the world evolves, GBS organizations need to remain agile to keep up with advancing technologies, navigate the recent talent shortage, and maintain cost competitiveness and accelerate innovation to help drive the CEO agenda.

To achieve these multiple priorities, many GBS organizations are building Centers of Excellence (CoEs), which further facilitate collaboration and speed-up transformation and delivery for the enterprise. CoEs are entities that work across business (BU)s units, or product lines within a BU, and provide leading-edge knowledge and capabilities in targeted areas. CoEs have proven instrumental for GBS organizations to drive initiatives and deliver access to high-demand skills and competencies, accelerating improvements and pushing efforts forward for faster execution.

The five types of CoEs that drive the CEO agenda

The role of the GBS organization needs to pivot toward creating strategic impact for the CEO. CoEs and competency centers within GBS organizations are designed to streamline and set actionable steps for the CEO’s agenda and critical priorities. The following five types of CoEs help enterprises to drive stronger business performance.

Core operations and corporate services CoE: This CoE focuses on developing expertise for multiple departments within the enterprise, including reporting, finance, marketing, customer onboarding, and core operations

Next-generation IT and digital technologies CoE: This CoE targets the development and management of new skills and technologies, such as AI, analytics, cybersecurity, blockchain, and testing

Talent CoE: The talent CoE develops the strategic services, capabilities, and best practices for staffing, e-learning, and employee onboarding

Automation and/or innovation CoE: Today’s strategic CEOs are looking to quickly advance their organizations’ automation and innovation maturity. This CoE is dedicated to cultivating these initiatives within the enterprise and deploying and scaling technologies like robotic process automation (RPA) and intelligent automation (IA)

Global sourcing and vendor management CoE: The goals of global sourcing and vendor management within organizations are often changing to keep up with market trends. This CoE provides CEOs with needed processes, insight, and agility to manage their sourcing and vendor models as market trends fluctuate

Going into 2022, these five types of CoEs, built within GBS organizations, can advance and strengthen enterprises and push strategies toward next-generation digital technologies, automation, and innovation. We will be covering this in more detail in our upcoming webinar, 5 Success-driving Actions GBS Organizations Need in 2022.

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Why GBS organizations are the right candidates for building CoEs

Multiple factors play into why GBS organizations are good candidates for building CoEs and ultimately offer significant benefits to enterprises and the CEO agenda. These include:

  • Deep process, domain, and technology expertise, providing a superior overall experience for the enterprise
  • Access to next-generation and niche skills at competitive costs, which accelerate enterprises’ digital transformations
  • Through a microcosm effect, offering high cross-functional and regional impact, the GBS-built CoE improves new product and services development
  • The ability to drive fast-paced, low-cost innovation enables top-line growth throughout the enterprise
  • Alignment with organizational culture and business goals improve overall productivity

How to develop an effective CoE

The various aspects of developing an effective CoE should be charted out to accelerate enterprise-wide adoption. Setting up a CoE is the first step for a GBS to embark on excellence, but it needs to ensure that it takes the right actions to establish success.

  • The first step is to map out a vision and strategy, think through possible risks, and mitigate them
  • Defining a governance and engagement model between the CoE and the enterprise is paramount to ensure that those goals and strategies are communicated, carried out, and met
  • GBS organizations will also need to design a talent model structured around growth and establish funding and financing mechanisms to initiate the process. Once the team is structured and goals are set, GBS organizations should incorporate a way to measure success through performance metrics and KPIs to collect the best data on impact delivered

Best practices for setting up a CoE

CoEs are designed to bring expertise and forward-thinking guidance, which often means taking risks and adapting; however, here are a few best practices to keep in mind when setting up CoEs:

Clearly articulate the “why”: If there is not enough clarity, the CoE is unlikely to deliver results aligned with the enterprises’ strategy

Take an entity-wide view: Combine the business case with an internal assessment of the company’s vision and strategy, requirements, and capabilities to identify concrete opportunity cases

Clearly define the governance and organizational model: The CoE should articulate the governance mechanism, reporting model, roles and responsibilities, and business units supported, so all parties are aware

Talent is the most critical success enabler: Leadership and team skills are often the most critical factor for a CoE’s success. Consider collaborating with external partners such as startups and academic institutions to fill gaps

Aim for quick wins in the initial stages to gain visibility and confidence: Select early use cases that allow the enterprise to develop confidence in the CoE

Ensure strong engagement and precise stakeholder management: Secure the right sponsorship at the right time, preferably in the early stages

For more information on how GBS CoE’s can drive the CEO agenda, join our upcoming webinar, 5 Success-driving Actions GBS Organizations Need in 2022.

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Demystifying Cloud Advisory | Blog

Before embarking on a cloud journey, every enterprise should conduct an assessment of their IT landscape by an external advisor or an internal team. But how deep should the evaluation go and what’s covered? Let’s clear up the confusion about cloud advisory and discover how to start your migration and modernization programs off right.

Starting out

To create a successful migration roadmap, due diligence or cloud discovery and assessment is critical because this first phase will directly impact the migration execution and management. Any action plan to migrate and/or modernize workloads to the cloud must consider the source environment and the business requirements.

Most enterprises typically seek help from cloud consulting service providers who bring in technical expertise as well as proprietary tools, accelerators, and frameworks required to deliver the project.

Determining the assessment extent

Choosing between the following two assessment types prevalent in the market will depend on the stage of the cloud transformation journey the organization is in and the cloud consulting support needed:

  • Low-touch assessment: Often, clients want a quick, high-level assessment before deciding to move to cloud. The scope is restricted to business and IT strategy alignment. The objective is to arrive at a top-line business case looking at Total Cost of Ownership (TCO) and Return on Investment (ROI) using the information gathered from stakeholder interviews without deploying any discovery tools. These projects typically take one to two months
  • High-touch assessment: This detailed exercise will recommend a roadmap that will help clients later migrate workloads to cloud. Discovery of workloads is largely tool-driven. The migration execution team will reference the analysis and recommendations. Occasionally service providers also conduct Proofs of Concepts (POCs) and migrate a few apps on cloud during this phase, mostly to determine the larger execution program feasibility. Projects at this higher level can take up to five months

Cloud advisory objective and depth

Organizations carry out high-touch assessments to gain an in-depth workload evaluation, resulting in nearly 60 to 70% of clients proceeding with a cloud migration transformation journey. In more than 90% of the cases, we observed clients immediately implementing the decommission/archiving-related recommendations.

The following key activities are conducted in these deep appraisals:

  • Assessing application health: Reviewing application-specific attributes such as availability, criticality, stability (issues per month), etc. is important to identify the apt migration strategy
  • Categorizing using 7Rs analysis: Tagging each workload with the appropriate migration strategy is the major goal. Depending on their characteristics, the workloads are segregated using the 7Rs: Rehost, Replatform, Refactor, Rearchitect, Replace, Retain, or Retire. For each application, a target state for each of the components (Database, Web server, app server, etc.) might also be identified at this stage
  • Planning migration waves: The group of applications that must be migrated together will determine how they are moved. The migration plan serves as a reference for the execution team
  • Determining TCO: The cloud advisory service provider also can be tasked with analyzing the costs of migrating and hosting

Choosing an advisor

Most all service providers have developed cloud advisory capabilities with the market growth. The majority also leverage proprietary tools and accelerators along with the popular third-party cloud migration tools such as Cloudamize, Device42, Movere, etc.

Everest Group believes that the cloud migration and modernization space will continue to evolve in the coming years. Until the dust settles, we see the market reeling with incoherent definitions and interpretations, resulting in dissimilar pricing for advisory services. Understanding what’s involved in the starting assessment will help you select a partner that will set your journey off in the right direction.

To access more information about the future of cloud and cloud management, watch our recent webinar on demand, Hybrid Cloud: The Future of an Ideal Enterprise Architecture. To share your experiences with cloud advisory programs, please reach out to [email protected].

Joining the Environmental, Social, and Governance Movement: Now’s the Time | Blog

Environmental, social, and governance (ESG) initiatives seem to be on the minds of nearly every organization. Today’s environmental and social challenges are immense. How can we aid in improving the lives of all individuals and our planet so the generations after us can thrive, all while creating growth in the economy for the present? We won’t answer these questions overnight, but it’s easier than imagined for organizations to dive in and start setting up ESG goals. To learn why and how to get involved in this growing movement, read on.

Where environmental, social, and governance meet

The three facets, E S and G, do not necessarily go hand in hand; however, initiating one often affects another. Ultimately, all three move organizations in the same direction – bringing about change for the greater good.

When broken down, environmental, social, and governance elements have very separate definitions, yet they still intertwine and bolster each other. The E and the S, environmental and social, target inclusion, conservation, diversity, sustainability, labor practices, carbon mitigation, etc., and serve as those larger goals that organizations aim to reach. The G, governance, is where these goals and initiatives get hashed out, planned, and budgeted for, and where the reporting, tracking, and monitoring are performed. If an organization has strong governance systems, its environmental and social priorities may be structured with a very distinct idea of what the objectives, strategy, and results will be.

Putting governance systems in order garners greater environmental and social benefits

When an organization wants to be environmentally sustainable and/or socially responsible, it may incur upfront costs that impact profitability. But with forward-looking strategies, such as a cost-benefit analysis, organizations can plan and budget, so the benefits outweigh the costs. The long-term payoffs can include improving diversity and current workplace labor practices by meeting ESG mandates or making a cost difference for the business.

Achieving stronger and more impactful environmental and social results means that governance is staying ahead of the pace of change, whether regulatory, risk-related, or business opportunities. Organizations need to keep their eye on what’s coming to be ahead of the curve.

For example, the UK’s Financial Conduct Authority (FCA) has recently proposed new transparency rules for organizations to incorporate diversity throughout the business as well as the board. They must also disclose whether they have reached certain diversity targets. Similarly, a recent regulation change in the US arrived when the Securities and Exchange Commission approved a proposal, the Board Diversity Rule, by Nasdaq requiring organizations to report on the diversity within their board. The purpose of the Board Diversity Rule is to promote greater diversity among the boards of directors of Nasdaq-listed companies and provide stakeholders with consistent board diversity disclosure.

Mitigating climate change risk is another area organizations are focusing on in business continuity plans. One method is having an alternative delivery strategy where work can easily be transferred from an area impacted by natural disasters to another site. This model of having smaller centers in more locations can benefit workers in rural communities by reducing migration from villages to cities and have a positive environment impact by lowering carbon emissions from vehicles with less commuting.

Governance systems that can stay current or ahead of these kinds of changes can better prepare and strategize for changes that could affect their organization in the future and make adjustments now rather than later, mitigating future roadblocks.

Why it’s easier than ever for organizations to find a business case for ESG

Most companies can easily present a business case for the vast majority of ESG initiatives. In addition to keeping pace with regulatory changes, organizations can also realize many benefits by carrying out environmental and social programs. Here are some examples of how different industries are making a difference:

Global Services 

Currently, with the “Great Resignation” and talent shortage, many organizations are turning to impact sourcing as a solution to provide an affordable, untapped talent pool. Impact sourcing can bring an organization qualified workers with skill sets aligned to match client needs, engaged employees providing lower attrition rates, and opportunities to fulfill corporate social responsibility and diversity objectives. At a bare minimum level, organizations need to begin designing talent strategies that incorporate diversity and pay equity into their workplace ecosystem if they want to attract and retain talent.

Healthcare

Another business case that is catching steam in the healthcare world is decentralized clinical trials (DCT)s, where data is collected from a patient through sensors or remote monitoring devices, eliminating the need to visit a medical site. A huge benefit from DCTs is the reduction of trial costs and timelines, attracting a more diverse patient population. DCTs are also easily accessible to patients who have mobility issues, and can reach a global audience, increasing inclusivity and diversity.

Technology

The tech industry also is doing its part to help by exploring ways to mitigate the impact software development is having on our carbon footprint. All major tech companies have made ambitious commitments to be carbon neutral or negative as the world attempts to confront the critical climate change dilemma and are competitively differentiating themselves through green computing strategies. This feat can be achieved through high-performance coding standards, self-adaptable solutions, and code reusability. Even blockchain protocols are joining the green IT bandwagon by exploring different mining models. Learn more on this topic in our recent green software development blog.

It’s never too late to get involved

Going forward, to start making a real impact, more organizations need to address challenges and set goals to better our societies and the environment. If we want to see change, now’s the time to dive in.

To learn more about ESG and how to get involved, watch our webinars, ESG in Services: What Sourcing Teams Must Know to Do More and Digital for Good: Shape Your Sustainability Journey.

For more information on how to implement ESG initiatives, reach out to [email protected].

 

Multi-cloud and Modern Applications: Doomed to Fail | Blog

Are multi-cloud and modern applications a panacea or problem? As the cloud journey scales and newer ways of building workloads get adopted, the industry is divided over the value of these initiatives. With increasing concerns about their viability, enterprises need to address some key questions before moving forward. Read on to learn more.   

In our previous blogs, we covered the dichotomy of multi-cloud and explored choice or strategy and interoperability. Let’s now dive into the debate over these approaches.

While enterprises understand the new digital business models require them to fundamentally change the way they consume cloud and build software, they aren’t necessarily aligned on the best models for the future. Not everyone is completely sold on multi-cloud and some doubts by large enterprises are emerging.

The top five questions enterprises ask are:

  1. Is there a better way to solve business challenges than assuming that multi-cloud and modern applications are the panacea?
  2. Is multi-cloud now a distraction to our technology teams?
  3. Is multi-cloud a “fear uncertainty and doubt” created by the nexus of cloud vendors and their partners?
  4. How can we succeed in multi-cloud when we barely have skills for one cloud to build, manage, and optimize workloads?
  5. Why should we build modern applications this way if they are so complex to build, operate, and sustain?

These questions are understandable – even if not always correct. However, unless enterprises become comfortable and address these challenging issues, they cannot proceed in their cloud or modern applications journey.

What should enterprises do?

Based on our research, we recommend the following three steps to succeed:

  • Acknowledge: First, acknowledge that multi-cloud and modern applications are not a cakewalk but very complex strategic initiatives. Moreover, they may not be relevant for all enterprises or use cases. Stress testing the current operating model, development practices, and existing investments are important before charting this journey. In addition, performing analysis to understand the operating cost of multi-cloud and modern applications is critical
  • Assess: Next, discovering existing technology and business estate, aligning with future priorities, and understanding in-house talent, program risks, and funding capabilities become important. Once these decisions are made, enterprises need to consider architectural choices and technology stacks. Wrong choices on these critical input areas can derail the multi-cloud and modern applications journey
  • Act: Finally, understand it is not a foregone conclusion that multi-cloud and modern applications will always benefit or harm your enterprise. In addition to the technology challenges, operating models must change. Therefore, rationalizing tools, realigning teams, prioritizing funnel funding, and transforming talent are critical. Simulating these workloads before they are built and holding cloud vendors and partners contractually accountable is important. Enterprises should also understand that some existing technology investments will be irrelevant, and they will need to buy newer tools across design, build, and run

What should vendors do?

In the complex landscape, cloud providers, service partners, and technology companies have their own incentives and businesses to run, and none have the client’s best interests as their core agenda. Vendors need to build data-driven models to show the value of multi-cloud and modern applications initiatives and help remove as much subjectivity and intuition from this process. Moreover, building platforms that can simulate these workloads across the lifecycle, as well as the talent, funding, and process transformation needed for this journey, are important. If the returns are underwhelming, enterprises should not bother going down the multi-cloud and modern applications route.

Suppliers should be proactive enough to let clients know of the operating model changes needed to adopt multi-cloud and modern applications. We believe system integrators have a more strategic role to play here because cloud or tech vendors do not understand the client landscape and have less incentive to drive such fundamental operating model transformation.

In the end, it boils down to the conviction enterprises have in multi-cloud and modern applications initiatives.  Using tools and platforms to stress test can move the decision from being a gut feeling to fact-based.

Please share your experiences with multi-cloud and modern applications with me at [email protected].

Discover more about our digital transformation research and insights.

Why Areas of Enterprise Services Spend Will Increase in 2022 | Blog

When looking at the market outlook for services spend in 2022, I see several areas that will change dramatically. It is clear there are two primary drivers for the changes: the post-COVID-19 situation and the need to be more strategic in a digital world. Both drivers will change the way companies need to operate next year, and both will increase the cost to operate. Here is my overview of the coming changes.

Read more in my blog on Forbes

What does the Great Resignation mean for GCCs | Blog

As we look past 2021 and the pandemic, it has become apparent that we are entering 2022 with a completely different and equally challenging set of issues. For the past several years, the “talent war” has had a special emphasis on the demand for high-end digital talent. Today, the challenge to find talent has become widespread across industries and departments and has spiraled into rising attrition rates, higher internal salary demands from employees, and increasing billing rates across a range of job skill sets.

Read more in my blog on NASSCOM’s website

 

Understanding Strategic Investments by Decentralized Clinical Trials (DCT) Product Vendors | Blog

COVID-19 put the spotlight on Decentralized Clinical Trials (DCTs) that will last well beyond the pandemic-stricken years as the industry increasingly adopts digital solutions for conducting remote, virtualized, or decentralized trials. In this digital ecosystem, vendors need to focus on several strategic areas to provide a holistic DCT experience and stay ahead of the competition. Discover in this blog the five priorities that can help product vendors take the lead in the DCT ecosystem.

Decentralized clinical trials rose to popularity during the pandemic. As people around the world were advised to stay indoors, sponsors and Clinical Research Organizations (CROs) scrambled for an alternative solution. DCTs catapulted to the mainstream and disrupted the clinical trial landscape.

DCTs offer reduced dependency for on-site visits, increased patient convenience, and improved insights from real-time patient data. While the pandemic may slowly subside with increased vaccinations, decentralized trials are here to stay – continuously elevating the trial experience for patients, sponsors, and investigators.

Everest Group’s Decentralized Clinical Trial Products PEAK Matrix® Assessment 2021 found improving patient recruitment and retention are the top reasons behind sponsors adopting DCT solutions.

With DCT adoption growing significantly, sponsors have varied sourcing criteria based on their priorities. We have observed that large biopharma companies prefer a unified platform while mid-and small-sized players are more interested in cost as their top sourcing criteria for DCT vendors.

Biopharma companies want vendors who feel the market pulse and offer tailor-made deal solutioning for increased DCT adoption, as illustrated below.

Sourcing criteria for selecting DCT vendors

Slide1

Five focus areas for DCT vendors to enhance their value proposition

To increase DCT adoption and run trials holistically, sponsors and CROs require matured technology products as well as auxiliary services. Hence, DCT vendors should not only strengthen their product offerings but also up their game in delivering auxiliary services.

With the exponential rise in DCT adoption, new players are rapidly entering the DCT landscape. In this marketplace, how can vendors offer value and stay on top of the competition? Our analysis reveals the following five areas that can help DCT vendors elevate their offerings above others:

Slide2

  • Inorganic growth – Considering the speed of digital disruption in the clinical trial landscape, inorganic growth is the fastest way to grow and expand capabilities. Technology-based DCT product vendors are focusing on improving their consultative positioning by combining high-tech and high-science under one platform. Two recent examples are THREAD acquiring Modus Outcomes, an organization that supports eCOA selections, designs patient-centric trials, and fosters scientific delivery of DCTs. Similarly, Clinical Ink acquired Digital Artefacts to enrich the data coming from patient-reported outcomes with situational awareness and active and passive digital assessments

 

  • Partnerships – DCT product vendors increasingly seek to partner with specialists to enhance the delivery of auxiliary services. These unions aim to increase trial efficacy and eliminate risks and delays while improving the experience for patients and site practitioners. Some recent deals include Science 37 collaborating with Foundation Medicine to accelerate the patient selection process for oncology trials. THREAD has entered alliances with Almac Clinical Technologies to reduce trial delays and risks and also with endpoint Clinical to simplify trial operations for site personnel

 

  • Human capital development – Investments in human capital are either focused on designing a simple unified platform for seamless patient experience during trials or on expansion and marketing operations. This has led product vendors to add new positions like Chief Growth Officer, Chief Design Officer, Chief Strategy and Expansion Officer, etc. Medable, Science 37, THREAD, Castor, and ObvioHealth have made significant investments in hiring or opening multiple roles directly or indirectly related to DCT solutions to expand their services and establish strategic partnerships

 

  • Funding – Multiple DCT vendors have raised significant funding to enhance their DCT program. Science 37 has recently become a public-listed company, thereby making enough funds available for DCT expansion and growth. On the same lines, Medable has secured a US$ 304 million Series D funding, taking the total company valuation to just over US$ 2 billion. It plans to use the funds to improve access to clinical trials worldwide and accelerate new drug development. ObvioHealth had raised US$ 31 million in its latest round of funding, while Castor raised US$ 45 million in its series B funding. While ObvioHealth plans to direct funding to enhance its proprietary IT capabilities and make new hires, especially keeping in mind the APAC region, Castor is focusing on accelerating trials and maximizing the impact of research data on patient lives. These activities clearly echo the positive investor sentiments towards DCT solutions

 

  • Geographic expansions – Enterprises are looking for studies that are global or beyond the North American (NA) region, pushing DCT vendors outside their established geographies into the Europe, Middle East, and Africa (EMEA) and Asia Pacific (APAC) markets. Both THREAD and Medable have established offices in Dublin, Ireland to expand their presence and grow the market for decentralized trials in the EMEA region. ObvioHealth has partnered with Anatara Lifesciences to launch DCTs in Australia, and Science 37 has partnered with CMIC Holdings to enable and advance its DCT offerings for Japan and the APAC region

The age of decentralized trials has begun, and sponsors are shifting away from the site-anchored approach to hybrid or completely decentralized trials. They are looking to convert their piecemeal deployments into a comprehensive strategy aimed at enhancing the trial experience for patients, sponsors, and CROs.

To cater to this rising demand, DCT product vendors need to leverage advancements in digital technology and enhance their value proposition. With a deep focus on inorganic growth, partnerships, human capital, funding, and geographic expansions, providers can offer a seamless DCT experience in 2022 and well into the future.

What areas should product vendors focus on to stay ahead in the DCT ecosystem? Reach out to [email protected] and [email protected] to discuss.

Explore more information about DCT adoption trends and providers. Learn more

The New Era of Design and Prototyping: Modern Tools Break the Barriers between Design and Development | Blog

With the digital experience driving massive disruption in software development, design is the latest stage to be upturned. New tools that capture constructive, actionable user feedback early in the development lifecycle are skyrocketing in popularity. To learn why the future is bright for this market, read on. 

Market growth

Design software is experiencing huge growth as evidenced by Figma raising fresh funding of $200 million this June, quintupling its value to $10 billion from last year. Competitor InVision added more than 350 enterprise customers and about 2 million new users since the onset of the pandemic. Even established players such as Adobe Creative Cloud posted more than 30% revenue growth from 2020.

Is the golden age of design here?

Using design and prototyping tools and closely integrating them across all stages of product development is rising and delivering great perceived value. With drag-and-drop interfaces, simplified canvases, creative collaboration tools, and animation functionality to rapid-test prototypes, the design disruption is real and, so far, very well-received.

New-age tools help mitigate design challenges by reducing detailed design specification documents, proactively incorporating user data during testing, and overcoming the technical constraints of different devices. The resulting intuitive and simplified workflows enhance the user experience while saving time and money.

The rapid growth in software and prototyping design has been sparked by key changes in the following areas:

  • Remote/hybrid workplace – The pandemic and desire by enterprises to have regular operations in different time zones has led to more flexible work arrangements for designers
  • Digital experience – The growing complexity of design workflows and having more collaborators has significantly upticked digital product design and development
  • IT alignment – The need to bridge the gap between designers, developers, and business stakeholders has led to greater cooperation
  • Market agility – The competitive pressures have pushed accelerated time-to-market

Four trends impacting the future of design and prototyping

The software design and prototyping tools market is poised for double-digit growth in the next five years that will be fueled by the following trends:

  1. Integrated design and prototyping platform: Design and prototyping ideally should go beyond creating a visual asset or artifact. It involves thinking about the end-to-end software development process – from collaboration and brainstorming to delivering a market-ready prototype with gestural interfaces for testing and validation and easy handoff to developers.

Market leaders such as Figma are focused on offering an integrated platform that simplifies design and prototyping while making the platform easier for non-designers to use. The leading providers are delivering tools that spur creative collaboration and other key benefits as illustrated in exhibit 1 below:

Exhibit 1: Tools provided across design and prototyping portfolio

Picture1 1

  1. Design democratization: A typical organization has a designer to developer ratio of 10 to 1. Drawing parallels to the disruption caused by low/no-code platforms in the development space, design and prototyping platforms will increasingly automate tedious manual tasks and add easy-to-use features that enable non-designers to contribute and collaborate creatively
  2. Industry-specific customization and hyper-personalization: Currently, options are limited to optimize design and prototyping to industry needs. However, as Artificial Intelligence (AI) and automation are more meaningfully used, built-in industry-specific features will be added. With enough processing power to treat and analyze vast data in an acceptable timeframe, design tools could create predictive models with emulated personas and confidently run A/B tests in the background while the design is still being developed, enabling hyper-personalization of designs
  3. AI-powered automation: AI offers a huge design opportunity, especially for those designing interactions with the emerging AI systems. The key obstacle is designing intelligent services and future platforms to augment creativity. AI can emerge as a powerful solution, suggesting ideas and areas for design improvement. With advanced use cases, the designer’s role will evolve to set goals, parameters, and constraints, and then review and fine-tune the AI-generated designs

 

These factors will redefine the software design and prototyping market – spurring creative collaboration among all stakeholders across the software development lifecycle. In our next blog, we will explore in-depth the supply-side trends in design and prototyping tools. Meanwhile, we would love to hear your feedback and suggestions on this piece. Feel free to write to Ankit Gupta, [email protected], or Sonal Singh, [email protected], to share your views and stay tuned in for the next blog.

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