Category: In The News

IT May See a Muted Q4; Rebound Likely in FY25: Experts | In the News

Growth in the information technology sector may rebound from next fiscal year, experts said, though the third-quarter performance of India’s top four IT majors did not inspire much confidence.

IT industry research firm Everest Group’s CEO, Peter Bendor-Samuel, expects a revival in demand by the second quarter (April-June) of 2024 based on the current guidance from the companies. “We see the next two quarters as difficult with a continued hesitancy to commit to discretionary spending or large new initiatives. It is likely that by the end of the second quarter (first quarter for most Indian tech services firms) that we will see the start of a modest recovery,” said Bendor-Samuel.

Read more in The Economic Times.

Why TCS and Infosys’ Gen AI Commentaries in Q3 Felt Lackluster | In the News

India’s two biggest IT services companies, Tata Consultancy Services (TCS) and Infosys, reported their third-quarter earnings for FY24 on January 11. Amid a seasonally weak quarter and an uncertain demand environment, all eyes were on their generative AI updates. However, they shied away from sharing definitive numbers or updates on deal pipeline opportunities or prospects of revenue in coming quarters.

Peter Bendor-Samuel, founder of Everest Group, believes most of the PoCs (almost 90%) undertaken in 2023 will not move into production in 2024. “However, 10% which does move (to production) will indicate to the market where gen AI does work, and we expect significant opportunities to arise in these areas for the tech services firms by the third quarter of 2024,” he said.

Read more in Money Control.

Strategic Digital Transformation Can Be Your Game Changer During the Economic Recession | In the News

Undoubtedly, 2023 was a challenging year for businesses worldwide, and as 2024 approaches, economic uncertainty remains. According to the Federal Reserve’s predictions, the global economy is expected to grow at a modest 0.5% annually. Many firms’ natural response to such unsettling times may be to reduce or even stop their digital transformation activities. But this is the ideal moment to intensify your efforts in digital transformation.

According to the Everest Group Global CFO Survey 2022, most Chief Financial Officers (CFOs) rank digital transformation higher on their priority lists, especially when it comes to “judgment-intensive” expenditures.

Read more in Tech Bullion.

DeepDive Equity Research: Producing Unique Intelligence on Tech Stocks | In the News

DeepDive Equity Research serves a select set of institutional investors by providing IT services industry intelligence and related stock findings. To produce unique material targeted to address investment controversies, DeepDive research process leverages proprietary data, an industry growth forecasting methodology honed over two decades.

In particular, DeepDive has an ongoing collaboration with Everest Group, which Rod Bourgeois, Managing Partner at the firm, extols for its “unmatched, bottom-up knowledge of the IT services industry. Bourgeois salutes Everest Group’s CEO, Peter Bendor-Samuel, saying he is a luminary in the IT services industry.

Read more in Financial Services Review.

Cognizant Gets Its Mojo Back under New CEO’s Watch | In the News

As former Infosys President Ravi Kumar S completes one year as CEO of IT services and consulting major Cognizant Technology Solutions Corp this month, experts and insiders at ET gave a thumbs up to the new chief of the US$19.4 billion dollar company.

Peter Bendor-Samuel, CEO of IT research firm Everest Group, said, “He has matched his competitors in fully funding the big deal team, however, the results are not particularly spectacular. Most of these moves have been simple execution moves and not big strategic changes.”

Read more in The Economic Times.

For IT, a US$16 Billion Deal Feast on the Table | In the News

India’s top software exporters are set to compete intensely with local and overseas peers for a sizeable share of the estimated US$16 billion in global IT services large deals that will come up for renewal in the next six months.

Many renewals are coming in at lower rates, with smaller scope but longer terms, said Everest Group CEO Peter Bendor-Samuel. “In other words, many deals are being renewed for less per year, but over a longer contract life,” he said.

Read more in The Economic Times.

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.