In The News Archives - Page 3 Of 197

Price War for Deals to Hit IT Firms’ Margins | In the News

April 2, 2023

Stiff competition in the large deal space among the large IT services companies is leading to a fall in pricing, stoking fears of a margin headwind in the coming quarters. According to industry insiders, though many numbers of cost takeout deals are coming to the market as enterprises are looking to save costs, competition is rising among both Indian and global players to increase their shares.

“It is clear that the pipelines are large and stacked with cost-saving deals. Most large firms have a significant number of mega deals in their pipelines; however, with everyone going after these deals, the close rates will likely drop,” Peter Bendor-Samuel, CEO at Everest Group.

Read more in BIZZ BUZZ.

How Will Data and Analytics Shape the Future of Financial Services? | In the News

March 30, 2023

Data and analytics (D&A) in banking and financial services (BFS) is an area that has seen a huge amount of growth, innovation, and development in recent years. The D&A services market is expected to reach a valuation of US$150 billion by 2024, which would represent a 150% increase from where it stood just five years ago.

According to Everest Group research, approximately 15-20% of BFS enterprises will increase their investment by more than 30%. With fears of an impending recession continuing to grow and many areas of IT services that previously looked strong showing less resilience, D&A appears particularly worthwhile.

Read more in Finextra.

Nine Employee Experience Solutions Enterprises Need – Is Surviving the Recession Enough? | In the News

March 28, 2023

Macroeconomic uncertainties and the impending recession are compelling enterprises to take defensive measures such as shutting down businesses and laying off employees.

In a recent report, Everest Group examines the current economic downturn, its impact on employee expectations and experiences, and enterprise priorities in tackling these uncertainties and expectations.

Read more in Intelligent Sourcing.

Is the US IT Industry Prepared for a Chinese Invasion of Taiwan? | In the News

March 28, 2023

In 2020, China conducted 380 incursions into Taiwan’s airspace. In 2021, that number more than doubled to 960. Last year saw the greatest number of airspace incursions ever, with 1,727 breaches of the zone. While no one really knows if or when China will launch a full-scale attack on Taiwan, the possibility of an invasion is raising concern in the IT supply chain community.

Abhishek Singh, Partner at Everest Group, believes that an invasion’s overall impact would largely be determined by when it occurs. “The US has anticipated this eventually for a while, [so] it’s not a question of ‘whether’, it’s more of a question of ‘when’,” he notes.

Read more in InformationWeek.

Tech Vendor Risk Raises Vetting Stakes in Wake of SVB Crisis | In the News

March 27, 2023

The tech startup ecosystem remains in limbo as federal authorities review bids for Silicon Valley Bank (SVB) and a temporary bridge bank tends to daily operations. The venture capital pipeline, which flowed through SVB to fuel the growth of young companies, was already under stress from inflation and rising interest rates. While downstream impacts on funding and innovation aren’t yet clear, the potential implications are serious enough for companies to reexamine vendor portfolios.

SVB’s support role went beyond banking, according to Ronak Doshi, Partner at Everest Group. It extended to “networking events and summits and to product, risk, and financial advisors,” he said.

Read more in CIO DIVE.

Tech Vendor Risk Raises Vetting Stakes in Wake of SVB Crisis | In the News

March 27, 2023

Tech leaders with suppliers who banked with SVB could set aside immediate concerns about the viability of those vendors when federal authorities stepped in to shore up existing deposits shortly after a run forced the bank’s seizure. But uncertainty about the stability of tech startups, which are volatile by nature, persists.

SVB’s support role went beyond banking, according to Ronak Doshi, technology practice Partner at IT consulting and research firm Everest Group. It extended to “networking events and summits and to product, risk, and financial advisors,” he said.

Read more in CIO DIVE.

Cost Optimization in Focus, Moderation in Growth Expected: What Accenture’s Results Mean for Indian IT Companies | In the News

March 24, 2023

Indian IT companies are likely to focus on cost optimization going forward, analysts said, after Accenture reported its numbers for the quarter that ended February 28. The company also announced that it is going to lay off 19,000 employees over the next 18 months, including over 800 of its 10,000-plus leaders. CEO Julie Sweet said the company is going after structural costs to ensure that it is in a better position.

Chirajeet Sengupta, Partner at Everest Group, said that the sentiment going forward is that things are not falling off a cliff, and even something like the impact of the collapse of SVB and the acquisition of Credit Suisse by UBS is being managed better by regulators currently than how things were in 2008, during the global financial crisis.

Read more in Money Control.

Category: In The News

Price War for Deals to Hit IT Firms’ Margins | In the News

How Will Data and Analytics Shape the Future of Financial Services? | In the News

Nine Employee Experience Solutions Enterprises Need – Is Surviving the Recession Enough? | In the News

Is the US IT Industry Prepared for a Chinese Invasion of Taiwan? | In the News

Tech Vendor Risk Raises Vetting Stakes in Wake of SVB Crisis | In the News

Tech Vendor Risk Raises Vetting Stakes in Wake of SVB Crisis | In the News

Cost Optimization in Focus, Moderation in Growth Expected: What Accenture’s Results Mean for Indian IT Companies | In the News

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