Category: In The News

Six Essentials For Successful Execution During Digital Transformation Initiatives | In the News

As the world recovers from the disruption of the pandemic, the rallying cry for many organizations has become “digital transformation.” Many enterprises were caught flat-footed with the wrong technology and needed to play catch-up to be more competitive in the post-pandemic world. As a result, digital transformation projects are going full tilt everywhere.

As a technology professional, I and many of my peers are in the thick of these initiatives. What we know — and some in the executive suite don’t — is that technology projects are far more likely to fail than succeed. Here’s proof: 2019 research from the Everest Group highlights the fact that 73% of enterprises failed to provide any business value from their digital transformation efforts.

Deutsche Bank to Hire 1,000 People in India This Year | In the News

The hiring, a mix of freshers and experienced professionals, will be in the India tech centres as the bank invest significantly to create technology capabilities internally to cater to changing consumer needs. Its CEO Christian Sewing said that the company will spend 13 billion euros between 2019 and 2022 on the bank’s digital transformation journey.

“It is true that large enterprises are aggressively growing their in-house capabilities and this is taking some work away from the third-party service providers. However, the huge demand for digital and other IT talent is overwhelming this trend and creating a strong growth market for the service providers,” Peter-Bendor Samuel, CEO, Everest Group said.

Read more in Money Control

Can an Industrial Goods Platform Be Unicorn? It Takes Rahul Garg’s Toolkit | In the News

Most unicorns are from the B2C segment, but Rahul Garg decided to giving manufactuing a filip by building an industrial goods platform to help enterprises. And in six years, he’s built Moglix into a unicorn—his third one.

“The firm has done quite well, especially given the fact that the B2B market, though it has been around for many years, hasn’t had the same impact or mind share as B2C,” says Yugal Joshi, vice president of Everest Group, a Dallas-based consultancy firm. “What is also interesting is unlike peers, especially in B2C, Moglix isn’t burning cash to chase revenue. Though it isn’t profitable, its losses haven’t ballooned.”

Read more in Forbes

Omnichannel: The Unlikely Savior of Physical Retail | Int

With vaccine rollouts accelerating across the United States and beyond, post-COVID surveys have emerged. Looking forward has turned to looking back as marketers examine how the pandemic accelerated e-commerce adoption and growth. Without a doubt, successive lockdowns had a tremendous short-term impact on e-commerce sales. According to SearchNode, 50 percent of companies saw online sales grow by over 100 percent. E-commerce instantly jumped five years ahead, reaching the levels projected for 2025 in 2020. However, will this evolution become long term? Will e-commerce become the prevailing channel for brands beyond 2021?

A study from Everest Group showed that one of the biggest challenges comes in the form of the human component, as it’s often easier to evolve technology than change a person’s mindset. Brands must invoke a complete cultural revolution internally by prioritizing the recruitment of digital-savvy and omnichannel experience experts. Offline and online retail teams must merge as well by training to operate together and consider the outcomes of all sales channels.

Read more in My Total Retail

Edge Computing and 5G: A Reality Check | In the News

What do you want to do with edge computing plus 5G? Industry analysts and edge experts discuss where enterprise IT stands – and how to prepare for what’s next.

The inability of Chinese vendors to scale their offerings in the current environment has been a major limiting factor, notes Yugal Joshi, vice president of digital, cloud, and application services research for Everest Group. “As Chinese vendors were pivotal to these deployments to build cost-effective 5G solution, it is a big problem,” Yoshi says. “Moreover, in many countries the license cost of 5G bandwidth is prohibitive, requiring governments and telecom vendors to come together, which is not easy.”

Read more in The Enterprisers Project

The Challenges Facing Automotive Brands in the Post-pandemic 2020s | In the News

Apple has been forced to delay the launch of their latest iPhone because there is a global shortage of silicon chips – the most basic building block for any modern electronic device. Delays to new phones and computers might be the expected outcome from a crisis in supplying chips, but what about cars?

Customer Experience Management outsourcing in EMEA: The COVID-19 pandemic is expected to result in a 3-4% market contraction in 2020, driven by the severe impact on energy & utilities, travel & hospitality, and manufacturing sectors (including automotive), which experience high CXM adoption in Europe. (Everest Group, 2020)

Read more in Intelligent Sourcing

Celonis Speaks on $1B Series D Round | In the News

Last week’s announcement of a $1 billion Series D funding round by process mining leader Celonis puts the fintech in a league of its own, taking the company’s postmoney valuation to more than $11 billion.

The fintech currently has about 50% of the process mining market and that fact, in addition to the recent funding round, positions Celonis to dominate this emerging sector of fintech, Ronak Doshi, vice president at research and consulting firm Everest Group, told BAN.

Read more in Bank Automation News

 

The REIT Stuff: 10 Things to Know Before You Invest | In the News

After being lulled into a COVID-19 pandemic stupor the past year, the Philippine stock market is now abuzz with exciting news about upcoming initial public offerings (IPOs) and new investment opportunities such as real estate investment trust (REIT).

The fast-recovering, continually growing, and resilient IT-BPO sector is seen as a boon to REITs that have an office leasing portfolio. “The more vibrant the BPO industry is, the higher the chances are for office buildings to have a regular income stream,” said Atty. Lim. According to a study conducted by Everest Group for the IT & Business Process Association of the Philippines (IT-BPAP) in December 2020, the IT-BPM industry is expected to achieve a revenue growth of between 3.2% to 5.5% per annum in the next two years.

Read more in Money Sense

Captive Boom! Global Companies Will Add over 3 Lakh Technology Jobs in India in Next 3 Years | In the News

India is the go-to destination for global corporations seeking to set up technology hubs, as they see vast potential here because of abundance of skilled tech talent, favourable operating environment and English proficiency.

“It is true that large enterprises are aggressively growing their in-house capabilities and this is taking some work away from the third-party service providers. However, the huge demand for digital and other IT talent is overwhelming this trend and creating a strong growth market for the service providers,” Peter-Bendor Samuel, CEO, Everest Group said.

Read more in Money Control

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