Category: In The News

Talent Crunch Pushes up Pricing of Time and Material Projects for IT Firms | In the News

The IT services industry is facing a severe demand and supply imbalance for talent. This, in turn, has led to an increase in pricing by 15% for time and material (T&M) projects where clients pay only for time and resources spent.

During the height of the pandemic, many companies pushed their service providers to reduce pricing and so, some hikes are a reversal of that too, said Yugal Joshi, Partner at Everest Group, a global research firm.

Read more in The Hindu Business Line

 

Seasonal Impact: Indian IT to Post 2-4% Sequential Revenue Growth in Jan-March | In the News

Despite robust demand for technology transformation across sectors, Tier 1 Indian IT players are likely to post moderate sequential growth for the January-March 2022 quarter, owing to seasonality and inflationary pressures in the US and Europe.

Talent constraints will continue to impact Indian service providers with some stability in attrition rates. However, the exposure to Russia-Ukraine impacted delivery geographies will have an impact on forward-looking point of views on delivery,” Prashant Shukla, Vice President at Everest Group, said.

Why India’s Corporate Leaders Rarely Speak Out against Hindu Nationalism | In the News

Like most Indian business leaders, Biocon chief Kiran Mazumdar Shaw is struggling to strike a fine balance between speaking out and keeping mum.

“In this social media frenzy world misinterpretations are common, many times driven by perverse intentions of others,” said Yugal Joshi, Partner at Everest Group. “These can snowball into issues that may harm the business more often than help it. Therefore, corporate leaders probably understand there is limited upside in speaking up from a business perspective.”

Read more in Quartz

Enterprise Browsers Promise Enhanced Security, Productivity | In the News

In early February, startup Island unveiled a new type of web browser – a software product that promises to help enterprises prevent employees from accessing potentially dangerous content. The company’s new Chromium-based enterprise browser, also named Island, is designed to address enterprise security requirements by embedding core protection needs directly within the browser itself.

Kumar Avijit, Practice Director at Everest Group, notes that an enterprise browser can help reduce third-party risks: “In regular browsers, such as Google Chrome and Mozilla Firefox, there are a lot of third-party plugins/add-ons that can be downloaded from stores,” he says.

Read more in Information Week

Impact of Australia Trade Agreement Likely to Be Modest for IT Sector, Say Experts | In the News

India’s IT industry leaders have welcomed the end of double taxation in Australia and the introduction of work visas for Indian students after the two countries signed an extensive trade pact over the weekend.

Peter Bendor-Samuel, CEO of Everest Group, said, “I believe this will only have a modest impact on an already vibrant trading relationship when it comes to professional services.”

Read more on MSN

A Half-A-Trillion-Dollar Bet on Revolutionizing White-collar Work | In the News

Combined, digitization and the cloud make it possible for companies to untether from their physical headquarters not just peripheral functions but parts of their ever more digital core business. Many have done just that during the pandemic, thanks to remote work. This opens up an opportunity for India’s IT consultants. They could assume some of the core corporate roles from white-collar workers in other parts of the world.

Wages for new hires in India can be as little as $5,000 annually, less than a tenth of the going rate in rich countries. Even factoring in other costs, Indian projects are at least 20% cheaper than the same endeavors in the West, estimates Peter Bendor-Samuel, CEO of Everest Group.

Read more in The Economist

 

Why Now Is the Time for Confidential Computing | In the News

In the wake of global conflict and the ever-looming pandemic, the shift to remote work has created profound security vulnerabilities for IT teams.

More enterprises are realizing the benefits of confidential computing in today’s distributed work environment. According to a recent report by Everest Group, the confidential computing market could grow to $54 billion by 2026—signifying its increasing importance in the enterprise security space. With constant security threats, confidential computing provides hardware-level security, confidentiality, and privacy that gives enterprises more peace of mind.

Read more on Forbes

Number of New Offshore Centers Rise to 62 in Dec Quarter | In the News

About 62 new offshore and nearshore centers were set up in the December quarter of 2021, while 23 came up onshore, showed a report by IT research advisory Everest Group.

Asia led the pack with 36 new offshore and nearshore centers followed by Central and Eastern Europe (CEE) with 19, and Middle East and Africa with four. In onshore centers, Western Europe and the UK saw 14 new ones, and North America seven.

Read more in Times of India

 

AI and Data Strategy: Where Do They Intersect? | In the News

Artificial Intelligence (AI) has penetrated nearly every industry because of its ability to improve business outcomes – from employee productivity to decision-making to customer experience. It’s no surprise that organizations large and small are embracing AI. That being said, starting AI without a strong Data Strategy in place can do more harm than good.

Nitish Mittal, Partner in the digital transformation practice at Everest Group, emphasizes this point: “I can’t stress this enough: data or the lack of the right data strategy is the number one bottleneck to scaling or doing anything with AI. When clients come to us with what they think is an AI problem, it is almost always a data problem. AI depends on viable data to prosper. That’s why it’s important to think about the data first.”

Read more in Dataversity

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