Category: In The News

TCS Steps up SaaS Play with its Home-Grown Jile | In the News

January 8, 2019

Tata Consultancy Services has created a second standalone software brand, Jile, for its agile software development platform, on the heels of its first AI-product Ignio, as the India’s largest IT services company bets on home-grown products to diversify its portfolio.

“As we look into the future, TCS is likely to both have a software line sold independently from its services as well as coming to market with integrated platform and service models,” Peter Bendor-Samuel, CEO of IT consultancy Everest Research, told ET. “The significant challenge for TCS lies in its aspiration to become a major software house as this will require a different business model, which will likely conflict with its services models”.

Read more in The Economic Times

Wipro May Consider Another Share Buyback up to $1.2 Billion | In the News

January 4, 2019

Wipro, India’s third-largest outsourcer, may announce another share buyback this quarter subject to regulatory approval and NCLT’s decision on the merger of four of its business with the outsourcer, the Times of India reported citing market participants.

Worth mentioning here that Wipro is coming off the one-year moratorium for a share buyback. Wipro had announced the last buyback in November-December 2017. Share buybacks are allowed only once in 12 months.

“Wipro has sold off underperforming assets in its infrastructure business, worked through some poor contracts and is looking to follow the path other Indian IT firms have trodden by returning cash to shareholders through a share repurchase programme,” Peter Bendor-Samuel, CEO of IT advisory Everest Group told the publication.

Read more in Times Now

Higher Digital Spends likely to Boost IT Budgets in 2019, Say Experts | In the News

January 3, 2019

Clients of big information technology (IT) services companies are likely to increase their budgets this year, after not doing so for the past few years, claims experts and analysts tracking the sector. Discretionary expenditure in new technologies, needed to stay relevant, is going to be the source of the budgetary expansion.

According to experts and analysts, most outsourcing deals in 2019 will be led by new technologies, which will be bundled with traditional services. This will lead to a bigger size of outsourcing contracts.

“At this time, we are seeing a continuation of last year’s robust spending on IT-related investment in the first two quarters of this year. Most of the demand will come from verticals such as energy and engineering apart from insurance, consumer-packaged goods, and retail,” said Peter Bendor-Samuel, founder and chief executive officer of global research firm Everest Group.

Read more in Business Standard

Airbnb India Earned around $5 Million Last Year—All from its Parent Firm | In the News

December 26, 2018

Online homestay aggregator Airbnb is pouring money into its Indian operations.

For the financial year that ended in March 2018, Airbnb India, a subsidiary of the San Francisco-based company, reported a revenue of about Rs35 crore ($4.95 million). Nearly all of it came in the form of foreign exchange as “professional and consultation fees,” according to Tofler, a business intelligence platform which accessed Airbnb India’s filings with the registrar of companies.

The filings list Airbnb’s holding company in Ireland as the sole client. “This is some commercial arrangement where Airbnb India is claiming services delivered to the parent entity as revenue,” said Yugal Joshi, vice-president at Texas-based consulting firm Everest Group.

Read more in Quartz India

Indian Travellers are Chasing Cheap Chills this Winter | In the News

December 21, 2018

This winter holiday, more and more Indian travellers seem to be chasing cheap chills.

Hotel chain and room aggregator OYO has seen a 104% rise from the last season in bookings for hotels in cold destinations, like hill stations Mussoorie and Shimla. Reservations in warm destinations—Goa, Puducherry—are up 66%, according to data provided by OYO.

OYO’s data on travel patterns “broadly represents the Indian market in general,” Yugal Joshi, vice-president of Texas-based consulting and research firm Everest Group, told Quartz. “People are travelling more, they’re spending more on travel, which is a reflection of our growing economy in general.”

Read more in Quartz India

5 IT Job Trends to Watch in 2019 | In the News

December 20, 2018

One of the most important – and unfortunately enduring – IT job market trends for CIOs to monitor is the continued chasm between technology talent demand and supply. Computer-related jobs are expected to grow at the faster-than-average rate of 12 percent through 2024, according to the U.S. Bureau of Labor Statistics. In just two years, BLS predicted, there will be 1.4 million open technology jobs but only 400,000 new computer science graduates nationwide. That’s causing many IT leaders to get more involved in STEM issues to address this long-term problem.

Next-gen skills hiring needs to pick up

Enterprise IT leaders say they want to leverage their own internal talent to develop competitive differentiators, says Yugal Joshi, vice president of Information Technology Services for Everest Group. However, despite these aspirations of enterprises, their hiring hasn’t kept pace, he says.

Read more in The Enterprisers Project

2018 was the Year India’s Startups Decided to go Global | In the News

December 19, 2018

Having thrived at home for nearly a decade, India’s startup scene went global in 2018.

Ola, the country’s largest homegrown ride-hailing firm, set the ball rolling in January when it drove into Perth, Australia. Soon, hotels chain OYO followed in a big way. The country’s newest unicorn, Byju’s, has also announced its international plans for early 2019.

Needless to say, there are serious risks to such global expansion dream.

“Internet is the foundation of their business, but they are as offline as any other business. Some have to form alliances with drivers, some with local sellers, some with educational institutes, restaurants, etc,” said Yugal Joshi, vice-president at Texas-based consulting firm Everest Group. “Though they can port their technology platform to these markets, they cannot create these alliances overnight. They aren’t Netflix which just has to stream existing content and can do easily in newer markets. These firms need a robust offline operating model to work.”

Read more in Quartz India

Digital Transformation Reality Check: 10 Trends | In the News

December 18, 2018

Looking back at the last decade of digital transformation – the use of technology to radically improve performance or change the enterprise – the one constant has been an ongoing shift in focus and priorities. Looking forward to 2019, a number of trends are emerging that IT leaders will want to consider as they make their plans for the new year.

Jimit Arora and Cecilia Edwards share their thoughts on trends in 2019.

Google Wants to Help India’s Newsrooms Get Video Right | In the News

December 18, 2018

At least 10 Indian news firms have made the cut to receive funding from YouTube.

In June, the video-streaming major had committed $25 million in innovation funding as part of its Google News Initiative (GNI) to support video journalism across the world. It sought to help newsrooms strengthen their online video capabilities and experiment with new formats for video journalism.

“For Google (YouTube’s parent company), it’s all about keeping on mining whatever data assets are out there in the digital economy. They started doing it with flights, and they’ve recently launched shopping,” said Yugal Joshi, vice-president at Texas-based Everest Group.

Read more in Quartz India

How to Get More Innovation from Your IT Outsourcer | In the News

December 14, 2018

While cost containment and performance improvements have long been primary drivers for IT services decisions, the desire for disruptive solutions is eclipsing those traditional rationales. IT leaders are seeking innovation — not only internally but from outsourcing partners — as they look to help the business become more agile and adaptive, create new products and services, and enter new markets.

 

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