In many industries, corporate procurement is a function that is both ripe for improvement and, at the same time, resistant to Agile concepts in unique ways.
“The sourcing process is, by definition, really cross-functional with a lot of back and forth,” says Amy Fong, a Partner leading Everest Group’s sourcing and vendor management practice.
Tech spending in both the Americas and Europe is expected to get stronger and there are signs that tech providers may be nearing the bottom of the market, indicating a recovery in tech and tech services spending in the third quarter of calendar 2024, according to global tech analysts.
‘‘As we look at this year, we believe that the first two quarters of 2024 will continue to be difficult, however, we are seeing some signs that we may be near the bottom of the market and that we could start to see a recovery in tech and tech services spending in the third quarter,’‘ said Peter Bendor-Samuel, Founder and Chief Executive Officer of Everest Group.
Recently, Great Entrepreneurs recognized Peter Bendor-Samuel, the founder and Chief Executive Officer of leading research firm Everest Group, as one of the top 25 entrepreneurs in Dallas. This prestigious honor celebrates Peter’s innovative vision and exceptional leadership in the business community.
AI, especially generative AI today, is an important set of technologies needed to advance sustainability goals – but there are potential downsides to adoption.
The impact of AI will be broad across industries, as it’s poised to revolutionize sustainability technology and services in terms of expertise, pace, innovation, and cost, according to Ambika Kini, Senior Analyst for sustainability technology at Everest Group.
Power consumption remains the primary concern as the adoption of AI increases, according to Kini. However, many IT service providers are investing in R&D efforts to make their models greener to curb energy consumption and reduce the carbon footprint.
Payroll teams lack visibility and transparency, leaving them unable to fulfill their core objective of delivering accurate and timely payroll, which could weaken competitive standing and operational efficiency.
Samarth Kapur, Practice Director at Everest Group, commented: “While our research shows that adoption of unified pay solutions is still at an early stage with only 33% of respondents adopting it, these early adopters are already experiencing positive outcomes.”
Decision makers in the CX space are almost entirely sold on generative AI (gen AI). Nevertheless, many can’t shake off the nightmare scenarios that the technology could bring in matters of data security and compliance.
Data security and compliance are the issues of most concern for CX leaders seeking to deploy gen AI in their organizations, according to a recent survey by Everest Group and TELUS International.
Thierry Delaporte was announced as the CEO and MD of Wipro in July 2020. Since 2020, the value of the company’s stock and market capitalization grew by 2.5X. But the Frenchman could not complete his five-year tenure.
Peter Bendor-Samuel, CEO of Everest Group, puts it, “As a European, it was difficult to win the hearts and minds of a traditional Indian IT services firm and this undoubtedly also contributed to flagging morale.”
Wipro has a new CEO. Srinivas (Srini) Pallia was named chief executive and managing director with immediate effect on April 6, according to a press release from India’s fourth-biggest IT services company.
Pallia will replace Thierry Delaporte, ending Wipro’s four-year experiment with a foreign CEO. “It is very hard for a non-Indian to run a large Indian firm,” Peter Bendor-Samuel, CEO of Everest Group, says. And the macroeconomic conditions that he had no control over made Delaporte’s job that much harder.
HCL Technologies Ltd is projected to top the charts in revenue growth and profitability among IT services companies in FY24.
Chirajeet Sengupta, Managing Partner at Everest Group, concurred, adding there have been “no signs of recovery that the industry has seen through the last three months of FY24.”
Everest Group’s latest Forces & Foresight research revealed that the IT services industry is on the brink of a gradual recovery in 2024 after enduring the impacts of the 2008 global financial crisis and the COVID-19 pandemic.
According to Everest Group Vice President Prashant Shukla, the path to recovery this time around is expected to be more measured — unlike the sharp rebounds observed after previous downturns — and influenced by a mix of stabilizing factors and emerging demand in specific sectors.
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