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In The News

Cognizant’s Head of Industries & Consulting Prasad Chintamaneni Resigns | In the News

By | In The News

Global IT services and consulting firm Cognizant has seen its fourth executive resignation this month, with the President of the firm’s global Industries & Consulting vertical Prasad Chintamaneni leaving the firm. He was recently tasked with provisionally managing the Banking & Financial Services vertical as well.

CEO at market research firm Everest Group Peter Bendor-Samuel added, “With a new Chairman of the board and CEO, Cognizant is changing out its senior management team as it puts distance from the ill-advised Elliot influenced commitments of the last two years. Furthermore, the senior Cognizant team has had a great run and accumulated significant wealth in stock which can best be sold while they are no longer insiders.”

Read more in Consultancy India

Cognizant President Prasad Chintamaneni Resigns | In the News

By | In The News

Bengaluru: Cognizant president for global industries & consulting Prasad Chintamaneni is said to have resigned, making him the fourth top executive to resign in the past one month.

Peter Bendor-Samuel, CEO of IT consulting firm Everest Group, said Chintamaneni’s resignation does not come as a surprise. “With a new chairman of the board and CEO, Cognizant is changing out its senior management team as it puts distance from the ill-advised Elliott (activist fund Elliott Managemement) influenced commitments of the last two years. Furthermore, , the senior Cognizant team has had a great run and accumulate significant wealth in stock which can best be sold while they are no longer insiders,” he said.

Read more in TOI

Moneycontrol IT Hiring Series Part 5: Are we Nearing the Zero Bench Period? | In the News

By | In The News

The Indian IT industry generates at least one lakh new jobs a year. But if you think that makes jobs readily available, the reality is different. That is because the industry, which employs more than four million people, has changed the way it hires. Basic skills are no longer in demand, and companies want candidates to be job-ready from day one.

Yugal Joshi, Vice President, Everest Group, a management consultancy, said, “Bench development is a loss to the provider as those resources aren’t billed but paid. As the digital disruption gains pace, it will be difficult to build bench anyways as the requisite skills won’t be available.”

RPA Vendor WorkFusion Looks to Drive Smarter AI | In the News

By | In The News

Robotic process automation [RPA] vendor WorkFusion is looking to capitalize on the strong momentum in the sector, with a major new product release and a favorable new analyst report.

New York City-based WorkFusion is one of the top players in the RPA space, which is booming. A new report from Zinnow on the RPA market reported that the total worldwide addressable market is $50 billion, with enterprise spend predicted to grow at a 37 per cent rate. Forrester Research, one of the analyst firms who specialize in the area, scored WorkFusion as a strong performer in their 2018 report, behind UIPath, Automation Anywhere, and Blue Prism. WorkFusion also scores very highly in a 2019 report by Everest Group, another analyst firm with a strong focus on RPA. The Everest Group report on a sub-space, Intelligent Document Processing [IDP], defined as a software solution that captures data from documents and categorizes and extracts relevant data for AI processing, ranked WorkFusion in the leader section, with the highest score in vision and capability.

Read more in Channelbuzz

Tata Sons Ropes in TCS Veteran Pratik Pal to Drive its Digital Play | In the News

By | In The News

Tata Consultancy Services president Pratik Pal, who ran the IT company’s multi-billion-dollar retail and consumer goods business, is said to have moved to Tata Sons as the salt-to-software services conglomerate doubles down on digital initiatives to improve its offerings to customers.

“It’s always a good idea to keep new blood coming both by making new roles for existing leadership as well as rotating them from time to time. This also helps in keeping the talent in house rather than seeing it move to competitors,” said Peter Bendor-Samuel, CEO of IT advisory Everest Research.

Read more in Economic Times

Will RPA Liberate us from Spreadsheets? | In the News

By | In The News

Here in 2019, businesses are finally beginning to question why they are still copying and pasting data manually between disparate systems.

When the Everest Group announced that RPA could lead to a cost reduction of nearly 65 percent, many business leaders began exploring the long list of benefits of RPA for enterprises.

Read more in TechHQ

The Top 10 IT Outsourcing Service Providers of the Year | In the News

By | In The News

The top four outsourcers on Everest Group’s annual ranking of the top IT service providers has remained unchanged this  year, with Accenture taking the top stop for the third year in a row. However, the real headliner may be the outsourcing market itself, which grew nearly 9 percent over the previous year in constant currency terms. “This momentum in growth was visible across the top four in the IT services categories Everest Group evaluated,” says Everest Group vice president Abhishek Singh.

Read more on CIO.com

The Top 10 IT Outsourcing Service Providers of the Year | In the News

By | In The News

The top four outsourcers on Everest Group’s annual ranking of the top IT service providers has remained unchanged this year, with Accenture taking the top stop for the third year in a row. However, the real headliner may be the outsourcing market itself, which grew nearly 9 percent over the previous year in constant currency terms. “This momentum in growth was visible across the top four in the IT services categories Everest Group evaluated,” says Everest Group vice president Abhishek Singh.

Read more in ITNews

Focus in Select Verticals and Geographies have Helped Mid-Cap IT Companies Drive Growth | In the News

By | In The News

Focus on select verticals, geographies and services, have made mid-cap IT firms like Mindtree and NIIT Technologies more agile and able to win larger deals, which has translated to higher growth, analysts say.

“Mid-cap firms took time to be courageous and focus on specific verticals and services, rather than poorly imitating their larger rivals. This is paying dividends,” said Yugal Joshi, Vice President, Everest Group, a management consultancy firm.

Read more in Moneycontrol

How HCL Tech Balances its Organic and Inorganic Strategy will Determine its Growth | In the News

By | In The News

Noida-based HCL Technologies (HCL) gave a revenue outlook of 14-16 percent for FY2020, at the back of robust deal pipeline and acquisitions that are beginning pay off. However, analysts say that also critical will be how the company balances its organic strategy with its inorganic ambitions.

Yugal Joshi, Vice President, Everest Group, said the challenge for the company lies in not just acquiring companies are in line with its strategy, but how it can use them to leverage growth in the market that is fast changing.

Read more in Moneycontrol