Category: In The News

TCS Has Upper Hand with Deal Wins, Lower Attrition in FY23 vs Infosys | In the News

The country’s second-largest software services firm Infosys beat larger rival Tata Consultancy Services (TCS) in terms of revenue growth for the fiscal 2022, clocking 19.7% yearly growth in revenues in terms of constant currency for the full fiscal year, while the Tata Group company metric came in at 15.4%.

“Infosys is growing significantly faster than TCS; however, they did decelerate modestly and at least some of this looks to have been due to a client contract provision. While Infosys still sees a good pipeline of large deals, its large-deal TCV in FY22 at US$9.5 billion was 33% lower than FY21 due to lack of mega-deal signings,” said Peter Bendor-Samuel, CEO of Everest Group.

Indian IT Companies Pull Plug on Russia | In the News

Indian software services companies are moving their limited operations out of Russia over geopolitical tensions arising out of its invasion of Ukraine, while helping clients maintain business continuity by shifting work to other locations.

“We don’t expect technology services demand to cool down in the short to medium term because of the war. Pent-up digital transformation spends by large global 2000 clients is a secular trend and continues to aid pipeline and revenue growth for most IT and digital engineering service providers. However, some deceleration in growth is expected in 2-4 quarters as recession and inflation-related fears become more prominent,” said Nitish Mittal, Partner at Everest Group.

Read more in Live Mint

 

IBM i Modernization Tools – A Step-By-Step Guide | In the News

Today, we’re seeing an urgency on CTOs to move the needle on digital transformation initiatives. But the most asked question by enterprises remains: “How do you turn something that was built 30 years ago into what we would consider modern today?”

While many enterprises are reportedly engaged in transforming business processes to meet the demands of an ever-changing digital world, most are struggling. According to a report by Everest Group, 73% of companies fail at digital transformation.

Read more in Hackernoon

Infosys Has No Plans to Do Business with Russian Clients: CEO Salil Parekh | in the News

Against the backdrop of the ongoing Russia-Ukraine conflict, IT major Infosys on April 13 made it clear that it has no plans to do business with Russian clients.

According to data from Everest Group, there are close to 70,000 to 100,000 highly qualified workers in digital engineering and IT skills who will face disruption. Of this, close to 30,000 are working for third-party service providers across banking and financial services, retail, automobile, and healthcare. About 20,000 are employed in global business service centers in Ukraine, and another 30,000 in Belarus and Russia for third-party services providers and GBS.

Read more in Money Control

9 Outsourcing Myths Debunked | In the News

The global IT services industry has emerged from two-plus years of a global pandemic to establish itself as even more vital to the success of enterprise IT organizations. As corporate IT looks to manage unrelenting demand for technology-enabled change in a challenging talent environment, outsourcing partnerships have proved pivotal.

“Companies are finding it exceedingly hard to find skilled talent especially in the US and Europe, and consequently outsourcing (and offshoring) are becoming important for companies to access talent in labor markets such as India,” says Jimit Arora, Partner at Everest Group.

Read more in CIO

Record Net Employee Addition by TCS, Accenture in Last One Year | In the NEws

Information technology giants Tata Consultancy Services (TCS) and Accenture reported record net employee addition in the last one year with over a lakh increase in headcount by each, indicating strong demand and business momentum in the coming quarters. Employee addition is one of the key measures indicating the business outlook.

According to Yugal Joshi, Partner at Everest Group, a global research firm, hiring is indeed a strong indicator of demand. However, service providers do not reveal their hiring trends globally, but are generally focused on India.

Read more in The Hindu Business Line

Deconstructing the Future of Work | In the News

Four-day weeks, on-demand pay, “rural” talent, digital workers… in recent times, we’ve heard these ideas accompanied by seemingly teleological questions about work as a construct.

The timing is understandable given the confluence of factors at play – the rise of digital, labor pyramid issues, and the after-effects of a global pandemic, including a desire for more meaning in work and convenience through remote work. After years of navel-gazing, society is finally waking up to the fact that our jobs, the way we do them, the time we spend, and the very fundamentals of the nature of work itself are perhaps incongruent with the world we now live in.

This realization opens up the very promising possibility of re-examining and perhaps reconstructing work for the new era. But, beyond the clarion call, what exactly does it entail, how do we understand the future of work, and how do we design for it? Fundamentally, we can break it down into three distinct components: the how, the where, and the who.

Read the full article on Business Reporter

The Top 10 IT Outsourcing Service Providers | In the News

Everest Group’s annual ranking of the top IT service providers saw some movement this year compared to last, but one thing that remained unchanged was Accenture’s place at the top of the list. In fact, it was the sixth year in a row that the $50.5 billion firm was recognized as the overall leading service provider of the year.

“Knocking Accenture down a peg or two is easily the biggest challenge for other players in the industry,” says Abhishek Singh, Partner with Everest Group.

Read more in CIO

Why North American Investors Are Flocking to This Israeli Cyber Stock | In the News

HUB Cyber Security Limited, an Israeli company that develops confidential computing solutions for businesses and agencies, is on the cutting edge of cyber-defense technology. The company has a first-mover advantage in a niche market of the rapidly growing confidential computing market.

According to Everest Group, the market opportunity for confidential computing will reach US$54 billion by 2026, growing at a compounded annual growth rate (CAGR) of close to 100% in the best-case scenario.

Read more in FX Street

Here’s Why 2022 Is the Right Time for NVIDIA’s RTX 40-series GPUs to Launch | In the News

For just about anyone who’s attempted to buy a GPU since 2020, the process has been full of pain, hiked costs, and delayed deliveries. So many of the best graphics cards are out of stock, and have been for the better part of two years. So why, then, are we facing what sounds like the impending launch of NVIDIA’s next big wave?

Despite the bizarre market conditions that computer components have endured since 2020, there is one constant that tech companies can expect: competition from rivals. That, according to Akshat Vaid, Vice President at Everest Group, is one of the key reasons NVIDIA’s upcoming line may arrive before people have had a chance to gather the 30-series cards they’ve wanted for years.

Read more on Windows Central

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