Key highlights from three recent custom research projects by Everest Group:
Case #1: Everest Group helped one of the largest healthcare services organizations develop its value proposition for a hyper cost take out initiative for the heal2) thcare payer market
A leading healthcare services organization wanted to create a value proposition of cost reduction for its healthcare payer go-to-market approach. It also wanted Everest Group to prioritize a set of payers accounts to determine their favorability towards its value proposition.
Everest Group solution: Everest Group used a mix of primary and secondary research in addition to in-house SME input to create a value proposition of cost reduction in the healthcare payer space. Everest Group created thought leadership content to create awareness about a hyper cost takeout initiative that build potential cost models of taking an as-a-service approach for the entire IT + operations stack. To determine favorability, Everest Group analyzed 20+ accounts on parameters such as financial health, technical debt, outsourcing maturity, and CXO focus. Based on these parameters, Everest Group created a scoring model to build an account prioritization list for the services firm to focus on
Case #2: Everest Group helped a global IT services player to develop a thought leadership framework that establishes enablers of innovation in application services and create thought leadership content assets
A leading global IT services player sought Everest Group’s help in doing the following:
Everest Group solution: Everest Group conducted focused market research with over 100 senior applications services executives (including CxOs) in North America to achieve the following objectives:
Case #3: Everest Group helped a global insurance provider identify contact center outsourcing (CCO) service provider portfolio optimization opportunities
The client is a global provider of consumer insurance products, with customers and operations in all major geographies of the world and across dozens of countries. In an effort to optimize spend and achieve a strategic model that will support future business needs, the client asked Everest Group to map a set of possible CCO providers that could fulfill the client’s business and operational goals, both currently and in the future.
Our approach: Everest Group conducted a two-phase study, where the first phase sought to understand the client’s current operational footprint and provided a consolidated inside-out view of the client’s global CCO activities. This phase also allowed Everest Group to develop a detailed understanding of the client’s business requirements and customer support needs. In the second phase a careful screening of possible CCO providers was developed based on the learning from phase one, and the forward-looking perspective of how the client’s business realities might change.
Benefits to the client: Key outcomes from the project included a clarified view for the client of their own operations and spending profile, identification of possible best-fit CCO providers, and intelligence on the evolving CCO market that could benefit their own operations going forward. The client is now well-equipped to develop their own RFP for obtaining CCO services from the market.
Thursday, February 23rd, 2017 | 9 a.m. CST, 10 a.m. EST, 3 p.m. BST, 8:30 p.m. IST
The banking industry is optimistic about the Trump administration’s policy announcements thus far. HOWEVER, the downsides of these potential changes—particularly as they relate to global service delivery models—must not be ignored. Join this webinar to hear Everest Group’s perspective on how these and other growing protectionist policies will impact your operational strategy.
In this one-hour webinar we’ll cover:
Todd Hintze, Managing Partner – Everest Group
Mark Lade, Associate Partner – Everest Group
Who should attend?
But in performance rankings, TCS, Cognizant, HCL, Accenture and L&T Infotech are honored for creating best ‘overall experience’ for clients
Despite large-scale investments by service providers, 48 percent of enterprises surveyed by Everest Group are not satisfied with their service provider’s performance. In particular, service providers are performing poorly as “strategic partners” for enterprises and score an average rating of five on a scale of one to ten.
There are also significant gaps in enterprises’ expectations and service providers’ performance with respect to innovation, creative engagement models and day-to-day project management.
“Most service providers are perceived to be technically competent, but technical expertise and domain expertise are considered ‘table stakes’ by enterprises across industries,” said Chirajeet Sengupta, partner at Everest Group. “Enterprises now expect their service providers to move beyond day-to-day delivery and focus on larger strategic business issues. Unfortunately, service providers still have a long way to go to meaningfully engage clients and become strategic partners, and that is a significant concern for the industry. This research signals the wake-up call and offers service providers guidance on how to strategize their engagement approach and prioritize investments to meet mounting customer expectations.”
In general, enterprises believe that mid- and small-sized service providers bring considerably more innovation and engagement flexibility than their larger counterparts. In fact, enterprises believe some large service providers have become lethargic and complacent and are indifferent to client requirements.
In contrast to these sentiments, five predominantly large service providers received the honor of creating the best “overall experience” for clients, based on client commentary and weighted aggregate ratings given by interviewed enterprises on key assessment dimensions.
These results and other findings are explored in a recently published Everest Group report: “Customer (Dis)Satisfaction: Why Are Enterprises Unhappy with Their Service Providers?” The research summarizes over 130 interviews conducted with enterprises across the globe regarding the capabilities of their service providers with respect to applications, digital, cloud and infrastructure services. The report also details the technology investment priorities of enterprises and opportunity areas for service providers.
***Download Complimentary High-Resolution Graphics***
Key takeaways from the research findings are summarized in a set of high-resolution graphics available for complimentary download here. The graphics may be included in news coverage, with attribution to Everest Group.
The graphics include:
Organizations are rapidly adopting Internet of Things (IoT) to achieve improved efficiency, enable data-driven decision making, and explore new revenue opportunities. It is disrupting existing It is being heralded as the next industrial revolution. Technology vendors and service providers play a significant role in helping enterprises explore and invest in IoT technology. Enterprise expectations from their technology partners are also increasing as they seek not only implementation services, but also strategy and consulting support. Given the huge potential of IoT, most of which is still untapped, enterprises are making significant investments in partnership with key service providers to explore new growth areas.
This research explores the latest IoT market trends and presents an assessment and detailed profiles of 16 IT service providers featured on the IoT services PEAK Matrix, a composite index of metrics related to a service provider’s scale, scope, technology/domain investments, delivery footprint, and resultant market success in the context. Each service provider profile gives a comprehensive picture of their IoT services vision, services suite, scale of operations, and domain investments.
Thursday, November 17th, 2016 | 9 a.m. CST, 10 a.m. EST, 3 p.m. BST, 8:30 p.m. IST
Attend this webinar to gain the latest insights on the global services industry, particularly the impact of the recent changes to the political climate in the Philippines. You will have the opportunity to learn more about the current landscape as you plan your 2017 strategies.
This one-hour webinar will focus on:
H. Karthik, Partner – Global Sourcing
Salil Dani, Vice President – Global Sourcing
Who should attend:
The general insurance (GI) industry has largely remained silent in a world where conversations either begin or end with the word “digital.” Products and services from the traditional GI providers have failed to keep tempo with the rapid technological developments happening everywhere else. One reason for this is that GI offerings are low-touch products about which customers interact with the provider just once or twice a year. Another is that GI providers have traditionally not focused on customer experience or value generation for their clients. They lag the Ubers and Amazons of the world by many miles.
However, the landscape has started to change recently due to the entry of disruptive start-ups trying to bridge the gap between service delivery and customer expectations. Areas gaining traction include price comparison services and mobile-based services. The real standout is peer-to-peer (P2P) insurance. It has gained more market buzz because the business model is not as opaque as the traditional model and provides clear benefits for the customers.
The P2P insurance business model
P2P insurance is a novel model facilitated by social media. Customers form their own online networks, and each pools in money to build a corpus. They allocate some portion of the fund to the mutual pool and pay the balance to a traditional insurer. When a claim must be made, members pull money from the mutual pool. If a claim exceeds the mutual pool corpus, they approach the reinsurer. If the claim is less than in the mutual pool, the remaining amount is distributed back to the members.
What are the benefits?
How does this disrupt the status-quo?
In the medium to long term, as this model gains maturity and acceptance, customers may switch to the P2P model. This will shrink the market share held by traditional players. Reduced demand for traditional insurance plans, coupled with increased supply, will drive down prices. Thus, customers are likely to benefit in the end.
Who are the current prominent P2P start-ups?
These companies are the hot start-ups in this space for a number of reasons. First, they are the early movers that have leveraged cutting-edge technology tenets such as social media and mobility. Second, they are trying to tackle a real business problem and, in the process, are improving efficiency in the market. Finally, they are managing to raise substantial funding from prominent investors such as Sequoia Capital and Horizons Ventures.
An urge for innovation in the industry, coupled with high potential demand from the customers, will drive further disruptions in the GI market. Start-ups are likely to be the vanguard in this evolution, by introducing value generating products and services. Sooner than later, the traditional players will wake up to the new normal, and will try to catch up by either acquiring these start-ups or partnering with them. Ultimately, the end-customers will be the beneficiaries, as competition forces the prices down and innovation drives the quality of services up.