Category: In The News

7 Hot IT Outsourcing Trends — and 7 Going Cold | In the News

December 6, 2018

As IT organizations become more strategic, so too do their partnerships with IT outsourcing providers. Digital transformation, automation, cognitive capabilities, and the data revolution are not just shaking up how IT operates, they are greatly impacting the kind — and quality — of services under contract with IT outsourcing firms.

Here is a look at the technologies, strategies and shifting customer demands shaking up IT outsourcing right now and the once-hot developments that are beginning to cool. If you’re looking to leverage an IT outsourcing partnership, or want to make good on the market for IT outsourcing as a provider yourself, the following heat index of IT outsourcing trends should be your guide.

 

5 Types of Outsourcing Providers — and How to Get the Most from Them | In the News

November 27, 2018

As corporate technology leaders pursue their digital transformation strategies, many are looking to IT service providers as potential partners in those change efforts. However, a one-size-fits-all approach to outsourcing providers is not likely to serve CIOs well in meeting innovation goals. In fact, bigger doesn’t necessarily mean better in the digital change era.

“Traditionally, size was a good proxy for capability, especially when technology was viewed fundamentally as an enabler of efficiency,” says Jimit Arora, partner in Everest Group’s IT Services practice.

 

APIs a Key Component of Insurance Digital Transformation | In the News

November 27, 2018

Fun fact: Many long-established insurance companies still rely on legacy mainframes computers running applications in an outdated programming language from the 1960s. That’s not ideal, because today’s tech-savvy, smartphone-using customers are more mobile and expect real-time information whenever and wherever they are, without the assistance of an agent or a call center representative. Not good, because the modern agent requires new tools and applications to maintain productivity in a mobile environment, including instant policy quotes. And especially not good, because the “insurtechs” – new, innovative, and rapidly growing companies with social savvy marketing and modern technologies – are just waiting in the wings, ready to grab your market share.

You have to adapt and evolve in record time to create a seamless customer experience while improving employee productivity to remain competitive and increase customer retention. By implementing APIs and microservices, you can extend those insurance backend systems to mobile, web, and cloud rapidly, and cost-efficiently, all with low risk. By using the “art” of the API, you succeed where past transformation options failed.
According to an article in Forbes by Peter Bendor-Samuel, “The record of studies on digital transformation indicate a high failure rate, with a notable 2013 McKinsey study finding that 70% fail. That is a lot of wasted time, money and unmet expectations.”

Read more in Digital Insurance

Wipro has to Think beyond Enrolment to Keep HPS Healthy, Feel Analysts | In the News

November 9, 2018

Indian IT services major Wipro may have to look at building solutions beyond healthcare enrolment-based services for its Health Plan Services unit to remain competitive amid legislative changes in the US, say analysts.

The Donald Trump-led US administration has pushed consistently to repeal Obamacare, which extended health insurance benefits to a large chunk of low-income people in the US.

At this juncture, Wipro should look “to double down quickly (to) address the re-pivot issues,” Peter Bendor-Samuel, chief executive of global IT advisory firm Everest Group, told ET.

KPMG to expand India front, looks to hire 9,000 employees | In the News

November 5, 2018

The management consulting team of KPMG is looking to hire nearly 8,000-9,000 people in India, a tenth of them to be deployed on projects overseas, as they see global clients increasingly want one of the Big Four audit firms to implement solutions and demonstrate results for the strategy guidance it gives them.

“Like Deloitte and E&Y, they (KPMG) are now moving into the space which Accenture and the large Indian services company occupy by offering SI and manage services,” said Peter Bendor-Samuel, CEO of Everest Group, a global technology outsourcing advisory.

Read more in Gadgets Now

TCS Faces US Jury over Sacking of American Staff | In the News

November 5, 2018

After Infosys, TCS is now facing racial discrimination charges in the US, its largest customer market. A few American employees, who have lost their jobs, have raised the allegations and TCS will face trial in California starting Monday, reported Bloomberg. The trial begins amid tension and uncertainty over H1-B visa. Many Indian companies have exported manpower, a practice that has not found favour with US president Donald Trump.

Peter Bendor-Samuel CEO and founder of California-based Everest Group, told  FC:  “TCS along with the other Indian firms are facing a growing scrutiny under a difficult political environment in the US.  We have seen similar lawsuits against Infosys and expect to see more against the other firms.”

Read more in Deccan Chronicle

5 Types of Outsourcing Providers — and How to Get the Most from Them | In the News

November 1, 2018

As corporate technology leaders pursue their digital transformation strategies, many are looking to IT service providers as potential partners in those change efforts. However, a one-size-fits-all approach to outsourcing providers is not likely to serve CIOs well in meeting innovation goals. In fact, bigger doesn’t necessarily mean better in the digital change era.

“Traditionally, size was a good proxy for capability, especially when technology was viewed fundamentally as an enabler of efficiency,” says Jimit Arora, partner in Everest Group’s IT Services practice. “Companies had rules about not wanting to work with companies below a certain size or scale threshold citing governance or risk capabilities.” However, as rapidly advancing technology capabilities have emerged as key enablers of business differentiation and growth, CIOs are finding that they instead need different types of IT services providers to meet all of their needs.

 

Talent Tops Lithuania’s Impressive List of Assets | In the News

October 15, 2018

When UK-based financial markets consultancy Catalyst Development were choosing a location for their first nearshore consulting hub earlier this year, they looked at Belfast, Limerick, Dublin, Galway, Tallinn, Warsaw, and Wrocław.

Sean Coote, managing consultant at Catalyst Development spent three months in Lithuania, which ended up being the company’s pick, looking at talent accessibility, infrastructure, office space, IT development, meeting with financial tax and legal firms.

Anurag Srivastava, vice president at Everest Group says that Lithuania is not a location where you would set up a 2,000-5,000 employee centre to support contact centre or IT-Infrastructure or transactional business process work.

Read more in Emerging Europe

IT Companies Look to Hire Senior Executives to Hard Sell Captive Deals | In the News

October 11, 2018

IT services companies are looking to boost the number of senior executives who can sell their services to a growing number of clients who are assigning such work to in-house units based in India.

“The GIC marketplace is expanding rapidly and requires third-party support as it digests this growth. It is fair to say that the do-it-yourself movement is taking work away from the third-party providers as a whole, but as this work shifts, it is creating opportunities within GICs for those service providers which are willing to go after it,” Peter Bendor Samuel, CEO of consultancy Everest Research, told ET.

Read more in The Economic Times

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