Category: In The News

IT Services Market Demands Grow, Complicating Staffing | In the News

Global IT services spending is poised to surpass the US$2 trillion mark before the end of the decade – an expansion likely to create staffing challenges for service providers.

Reskilling current employees is a tactic that IT service providers currently emphasize. A December 2023 report from Everest Group cited “learning and development” as a strategic priority for most service providers over the next 12 to 18 months. That focus comes amid a “tectonic shift” from hiring to developing talent internally, the report noted.

Read more in TechTargest

PodChats for FutureCIO: The Future of Custom Applications | In the News

For decades, custom applications were the norm, allowing organizations to create applications designed to meet the unique requirements of the business.

With the growing popularity of citizen developers using local or no-code platforms, is there value for custom applications? Ankit Gupta, Practice Director at Everest Group, spoke with PodChats for FutureCIO to shed light on the future of custom applications.

Check out the PodChat here in FutureCIO.

Mexico Serves as a New Base for Indian IT Businesses’ Operations Including CXM | In the News

Mexico has emerged as the new hotspot for customer experience management (CXM). TCS and Infosys have been present in Mexico for nearly a decade now. Recently, LTIMindtree opened a 100-seat facility.

Mexico’s benefits include geographical closeness and cultural compatibility with both the US and Canada. According to Everest Group, Mexico has a worldwide service talent pool of about 197,000 full-time equivalents. The personnel are proficient in English, Spanish, French, and Portuguese.

Read more in CIO News

Tech Boost? Several Us Federal Contracts up for Renewal in Next Two Quarters | In the News

Several large US federal deals from the likes of General Services Administration, US Cyber Command, Department of Energy, NASA, Federal Aviation Administration, and Department of Education are up for renewals over the next two quarters.

Everest Group CEO Peter Bendor-Samuel believes that the Indian firms have been making sustained investments in the Federal market, “The going is slow, and they face entrenched competition, a long selling cycle, and are less advantaged from a cost perspective than they are in other areas,” he said.

Read more in Economic Times

When AI Chatbots Go Bad | In the News

AI ethicists may be wringing their hands about generative AI’s (gen AI’s) potential to end humanity, but businesses adopting the technology for customer support face more pedestrian, reputational concerns as customers game chatbots for providing poor service.

A recent Everest Group survey of more than 50 global CIOs found that 61% of enterprises are “actively exploring and piloting” gen AI and that 22% have already deployed the technology for one or more business processes.

Read more in Information Age

Mexico Emerges as New Hub for Indian IT Companies Operations | In the News

Mexico has emerged as the new hotspot for customer experience management (CXM).

Everest Group said Mexico has a global services talent pool of nearly 197,000 full-time equivalents (FTEs). The workforce has strong multi-language capabilities in English, Spanish, French, and Portuguese. “The CXM market has been surging in Mexico, and the IT-ADM sector is showing notable growth as well, particularly as it taps into highly skilled engineers emerging from Mexican universities,” said Parul Jain, Vice President of the global sourcing team at Everest Group.

Read more in The Times of India.

IT Gives Bears a Bull Hug: What Is Driving the Rally in Tech Stocks? | In the News

Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks?

“The large mega deals look to be the one bright spot in an otherwise difficult market. We are also seeing some green shoots around some of the large foundational software areas with encouraging performance of the software firms, which often leads tech services spending,” said Peter Bendor-Samuel, CEO at Everest Group.

Read more in Economic Times

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