Tag: digital

Unlocking Success: The Vital Role of Digital Transformation Consulting in Today’s Challenging Climate | Blog

As enterprises face mounting challenges in adopting complex digital solutions, digital transformation consulting continues to grow. But economic pressures, heightened digital intricacies, and new opportunities in sustainability will impact the industry’s future. To thrive in this rapidly evolving environment, consulting firms must offer tailored solutions that deliver measurable outcomes. For more insights, read this blog.     

Reach out to us directly to learn more.

Digital transformation consulting has gained market prominence in recent years due to the demand for experts who can help organizations effectively embrace technology-driven processes and strategies. With enterprises’ constant demand for digital relevance continuing, the sector is expected to grow 8.5 to 9.5% through 2025.

Consultants have a critical role in helping guide enterprises through the why, what, and how of digital business transformation. The success of digital transformation initiatives hinges largely on identifying the right objective, determining the best strategies, and properly planning digital initiatives, which is where consultants can provide invaluable guidance and expertise.

Service providers also have opportunities to display market-leading thought leadership, influence technology decisions by becoming strategic partners, and build long-term senior stakeholder relationships through consulting. These factors make digital transformation consulting one of the most important segments of the IT industry. Analyzing this industry’s movements helps decode the overall direction of digital change.

Macro-economic conditions are pushing enterprise priorities toward operational benefits

With the increasing economic pressures, cost optimization and productivity improvement have become top-of-mind priorities for enterprises in 2023. Companies are looking to optimize operations, streamline processes, and reduce expenses. In response, consulting firms should rebalance their priorities on operational segments such as supply chain management, production, finance, Human Resources, or sales and marketing.

This shift towards operational benefits will likely impact consulting service delivery. Clients increasingly are seeking outcome-based pricing models that tie consulting fees to specific cost savings or productivity gains. To meet this demand, consultants must demonstrate a deep understanding of their client’s business processes and operations and develop customized solutions that deliver measurable results. Many large consulting houses have also leveraged lower-cost locations to address their delivery cost uptick.

Digital pragmatism is leading enterprises to eye scope and vendor consolidation

Many enterprises are struggling to see the expected returns on their digital investments and are looking to optimize their value. This has led to a surge in demand for consulting services that can help businesses rationalize their digital scope and streamline their vendor portfolios. In 2023, the number of enterprises seeking to critically rebalance or rationalize their service provider portfolio increased by 35%.

To meet this wave of digital pragmatism, professional services firms need to provide end-to-end services that can guide clients throughout the process of IT portfolio rationalization. This includes identifying areas for consolidation, developing an implementation roadmap, and providing ongoing support to ensure successful execution. By taking a more strategic approach to IT investments and vendor selection, enterprises can optimize their value and drive better business outcomes.

This also highlights why digital consulting providers have been attempting to expand their footprint across overlapping opportunities among peer groups. For quite some time, the Big Three consulting firms have targeted downstream revenue with products and solutions for enterprise decision-making. Meanwhile, traditional IT services vendors are leaning on the importance of digital to engage top-brass executives and expand into upstream revenue more strategically. This all comes alongside the Big Four accounting firm’s efforts to exert dominance across end-to-end services capabilities.

DT Consulting Blog Infographic sf

This razor focus on value also forces consulting service providers to repair delivery inefficiencies. Everest Group’s Digital Transformation Consulting Services PEAK Matrix® Assessment found that costly engagements with large management consulting houses are not perceived as delivering sufficient value by most stakeholders, and organizations are receptive to working with IT service providers that have a stronger technical focus.

However, IT service providers who excel in technology expertise may fall short in delivering domain or industry expertise. The study showed clients were 10 percent less satisfied with providers’ domain/industry expertise than their technical expertise.

Winning in the “Value Market” will require consulting service providers to deliver well-rounded engagements supported by forward-thinking talent at effective price points that bring technical and domain prowess.

Sustainability will be the next game-changer in consulting

As businesses become more conscious of their environmental impact, many seek consulting services to help them develop and implement sustainable practices. Everest Group research found four out of every 10 Environmental, Social, and Governance (ESG) engagements are focused purely on consulting elements. As this trend is expected to accelerate in the coming years, sustainability will likely become a key driver for growth in the consulting industry.

Consultants are uniquely positioned to help clients navigate the complex sustainability ecosystem, working with diverse partner segments such as rating agencies, global standards organizations, data and reporting vendors, as well as independent software vendors (ISVs) and original equipment manufacturers (OEMs.) To capitalize on this trend, consulting firms need to invest in creating industry and function-focused expertise on sustainability. This includes building teams with deep domain knowledge in areas such as carbon accounting, circular economy, and ESG reporting.

Looking ahead, the consulting industry is expected to continue to undergo significant change, driven by macroeconomic conditions, digital predicaments, and sustainability. Consulting firms today must have a deep understanding of their client’s business processes, operations, and priorities. Providing customized solutions that produce measurable results will be crucial to thrive in this rapidly evolving environment.

To discuss digital transformation consulting and digital strategies, contact [email protected], [email protected], and [email protected].  Stay tuned for our perspectives on generative Artificial Intelligence’s impact on the digital transformation consulting market.

Don’t miss our webinar, Welcoming the AI Summer: How Generative AI is Transforming Experiences, to learn how enterprises can leverage Generative AI to unlock business value and about current use cases.

Enterprise Blockchain Services PEAK Matrix® Assessment 2023

Enterprise Blockchain Services PEAK Matrix® Assessment

Enterprises are increasingly adopting distributed ledger technology to enhance the privacy, accountability, effectiveness, and confidence of their transactions and engagements with clients, associates, and shareholders. As blockchain technology gains traction, it offers new avenues for ingenuity, expansion, and a competitive edge in a technologically advanced and interconnected landscape.

Enterprise blockchain service providers are distinguishing themselves by leveraging blockchain to foster collaboration, innovation, and transformation among diverse stakeholders. However, maintaining blockchain ecosystems can be complex, as it involves challenges such as poor cyber hygiene, misaligned incentives, governance issues, interoperability barriers, and regulatory uncertainty. This creates opportunities for enterprises and providers to collaborate and co-create solutions that address these obstacles and enhance the overall value of blockchain technology.

Blockchain map2 1

What is in this PEAK Matrix® Report

In this report, we evaluate 24 leading blockchain service providers featured on the Enterprise Blockchain Services PEAK Matrix® 2023. This research will assist buyers in selecting the most suitable technology provider for their needs, while technology providers can benchmark themselves against their peers.

In this report, we:

  •  
  • Evaluate 24 enterprise blockchain service providers featured on Everest Group’s Enterprise Blockchain Services PEAK Matrix® 2023
  • Present the characteristics of Leaders, Major Contenders, and Aspirants in the enterprise blockchain services landscape
  • Analyze providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading blockchain service providers, client reference checks, and an ongoing analysis of the blockchain services market

DOWNLOAD THE ENTERPRISE BLOCKCHAIN SERVICES PEAK MATRIX® ASSESSMENT 2023 

Related PEAK Matrix® Assessments

Our Latest Thinking

Key CMO Priorities in the Rapidly Evolving Marketing Services Space 1
Market Insights™

Key CMO Priorities in the Rapidly Evolving Marketing Services Space

Blockchain GIC 930963058
Blog

The Future of Blockchain in Banking and Financial Services and FinTechs

GettyImages 1390600542
Blog

Building Web 3.0 Business for Clients: Opportunities for Strategy, Technology, and Consulting Providers

RPA and Analytics Can Deliver Value Across the Life Sciences Value Chain
Market Insights™

RPA and Analytics Can Deliver Value Across the Life Sciences Value Chain

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2023

Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment

In the wake of the Great Resignation and business uncertainty, enterprises have regarded Recruitment Process Outsourcing (RPO) providers as strategic partners capable of guiding them through the constantly evolving talent market. Providers worldwide recognized the ongoing challenges with talent scarcity and widening skills gap. Augmented with technology, providers utilized their domain expertise to support buyers across different industries.

 

Everest Group RPO Services PEAK Matrix Assessment 2023Asia Pacific Everest Group RPO Services PEAK Matrix Assessment 2023EMEA Everest Group RPO Services PEAK Matrix Assessment 2023North America Everest Group RPO Services PEAK Matrix Assessment 2023Global 1What is in this PEAK Matrix® Report

In this report, we analyze the dynamics of the RPO provider landscape and assess 49 RPO providers featured on Everest Group’s RPO PEAK Matrix® 2023 – Global, North America, EMEA, and Asia Pacific. The research will enable buyers to select the best-fit provider for their needs, while providers will be able to benchmark themselves against the competition.

In this report, we:

  • Examine the RPO provider landscape
  • Position the providers on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants
  • Assess providers’ overall RPO capability across seven dimensions: market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprint, and vision and strategy

Scope:

  • All industries
  • Geography: Global, North America, EMEA, and Asia Pacific
    Third-party RPO deals, excluding shared services or Global Business Services (GBS)
  • Over 5,200 multi-process RPO deals active as of 2022, each involving a minimum of two recruitment processes

DOWNLOAD THE RECRUITMENT PROCESS OUTSOURCING (RPO) PEAK MATRIX® ASSESSMENT 2023 

Related PEAK Matrix® Assessments

Everest Group RPO Services PEAK Matrix Assessment 2023Global
PEAK Matrix®

Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2023

Global RPO Services
PEAK Matrix®

Recruitment Process Outsourcing (RPO) Services PEAK Matrix® Assessment 2022 – EMEA and Global RPO Services

Our Latest Thinking

Pricing Variation in Recruitment Process Outsourcing Deals
Market Insights™

Pricing Variation in Recruitment Process Outsourcing Deals

Total Talent Acquisition (TTA) Demand is Rising
Market Insights™

Total Talent Acquisition (TTA) Demand is Rising

Recruitment Process Outsourcing 4-0
Market Insights™

Recruitment Process Outsourcing 4.0

Criteria for Choosing a Career Transition Services Provider
Market Insights™

Criteria for Choosing a Career Transition Services Provider

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Contact Center-as-a-Service (CCaaS) PEAK Matrix® Assessment 2023

Contact Center-as-a-Service (CCaaS) PEAK Matrix® Assessment

The market for Contact Center-as-a-Service (CCaaS) is experiencing rapid growth, driven by the increasing demand for flexible remote work solutions, the need for businesses to provide exceptional customer service, and the scalability required to accommodate fluctuating demand. Everest Group defines CCaaS as a cloud-based offering that encompasses essential capabilities for managing omnichannel customer interactions through capabilities such as automatic call distribution, Interactive Voice Response (IVR) and self-service tools, workforce optimization and scheduling/forecasting, as well as reporting and management insights. CCaaS allows companies to quickly scale their contact center operations without making significant investments in infrastructure and software. Consequently, many businesses are transitioning from traditional on-premise contact center solutions to cloud-based CCaaS solutions as they offer greater flexibility, scalability, and cost-effectiveness. The CCaaS market is highly competitive, with numerous providers that offer solutions with varying degrees of sophistication and pricing models. Additionally, the industry is experiencing consolidation, with larger companies acquiring smaller participants to expand their service portfolio and increase their market share.

CCaaS PEAK 2023 1

What is in this PEAK Matrix® Report

In this report, we assess eight CCaaS providers featured on the Contact Center-as-a-Service (CCaaS) PEAK Matrix® 2023. Each provider profile provides a comprehensive overview of its service focus, key Intellectual Property (IP) / solutions, domain investments, and case studies. The research will help buyers select the right-fit technology provider for their needs, while technology providers will be able to benchmark themselves against the competition.

In this report, we:

  • Provide Everest Group’s PEAK Matrix® evaluation, a comparative assessment of eight leading CCaaS technology providers
  • Assess the CCaaS technology provider landscape
  • List providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • Geography: North America
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading CCaaS technology providers, client reference checks, and an ongoing analysis of the CCaaS market

DOWNLOAD THE CONTACT CENTER-AS-A-SERVICE (CCAAS) PEAK MATRIX® ASSESSMENT 2023 

Related PEAK Matrix® Assessments

Life Sciences Operations
PEAK Matrix®

Life Sciences Operations PEAK Matrix® Assessment

Customer Experience Management
PEAK Matrix®

Customer Experience Management (CXM) Services PEAK Matrix® Assessment 2023

Supply Chain Management
PEAK Matrix®

Supply Chain Management (SCM) BPS – PEAK Matrix® Assessment 2023

healthcareinCXM 1
PEAK Matrix®

Healthcare Customer Experience Management (CXM) Services in North America PEAK Matrix® Assessment 2023

Our Latest Thinking

Navigating the CXM Outsourcing Landscape - Presentation - 1200x628
Events

Navigating the CXM Outsourcing Landscape: A Comprehensive Guide for First-time Outsourcers

GettyImages 1192068841 1
Blog

Forecasting the Future: Key Trends Reshaping CXM Outsourcing in 2024

GettyImages 852459910
Blog

The Generative AI Revolution: Transforming Customer Experience Management

1200x628 Creating Accelerated Value in a Dynamic World
Events

Key Issues 2024: Creating Accelerated Value in a Dynamic World

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Candidate Relationship Management (CRM) Platforms PEAK Matrix® Assessment 2023

Candidate Relationship Management (CRM) Platforms PEAK Matrix® Assessment

Even in the face of an economic slowdown, talent acquisition continues to be a key priority for organizations. In the crowded landscape of TA technology, the Candidate Relationship Management (CRM) platforms have emerged as the key technology platforms. Organizations demand advanced technical capabilities to streamline their recruitment process and address talent demand. However, the legacy Applicant Tracking Systems (ATS) have lagged in providing the necessary technology tools to create a candidate-centric recruitment process.

The CRM platforms enable organizations to streamline the recruitment process and provide a superior candidate experience. They attract, engage, and convert both active and passive candidates. These platforms help in creating and nurturing candidate pools, managing communications, and developing a strong employer brand through recruitment and social media marketing.

CRMplatforms 1

What is in this PEAK Matrix® Report

In this report, we assess 16 CRM platform providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. Each provider profile provides a comprehensive overview of its key strengths and limitations and includes enterprise sourcing considerations. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition.

In this report, we:

  • Examine 16 CRM platform providers’ capabilities and offerings
  • Position the platforms on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants
  • Assess platform providers’ overall CRM capability across eight dimensions: market adoption, portfolio mix, value delivered, vision and strategy, technology capability, flexibility and ease of deployment, engagement and commercial model, and support
  • Study enterprise sourcing considerations

Scope:

  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading CRM platform providers, client reference checks, and an ongoing analysis of the CRM platform market
  • All industries and geographies

DOWNLOAD THE CANDIDATE RELATIONSHIP MANAGEMENT (CRM) PLATFORMS PEAK MATRIX® ASSESSMENT 2023 

Related PEAK Matrix® Assessments

Our Latest Thinking

LS Enterprises Shifting from Traditional CRM to CXP
Market Insights™

Life Sciences Enterprises Shifting from Traditional CRM to CXP to Create Competitive Advantage

Health Plans are Shifting from CRM to CXM Platforms
Market Insights™

Health Plans are Shifting from CRM to CXM Platforms

RPO’s Future Technology Model - A Seamless, Integrated Digital Ecosystem
Market Insights™

RPO’s Future Technology Model: A Seamless, Integrated Digital Ecosystem

Impct of tecn on tlnt acq
Market Insights™

Impact Potential of Next-generation Technologies in Talent Acquisition

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment 2023

Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) PEAK Matrix® Assessment

The global Life and Annuities (L&A) insurance industry has recovered from the pandemic, but it now faces macroeconomic uncertainties. Going forward, insurers will prioritize cost reduction and may cut back on discretionary spending to save costs. However, they are likely to continue their digital transformation initiatives because of the long-term benefits they offer in terms of process improvements and efficiency gains.

Given the situation, insurers are expected to use outsourcing as a popular cost mitigation strategy, which provides ample growth opportunities for providers. In fact, providers are developing end-to-end capabilities to advance themselves for larger deals as insurers pursue more enterprise-wide transformation. Additionally, insurers face challenges such as evolving customer preferences, product innovation, and legacy systems, which increase the demand for support in areas such as actuarial transformation, underwriting streamlining, and new product launch capabilities. Providers are increasingly investing in these growth areas to differentiate themselves in the market and stay ahead of the competition.

LATPA PEAK 2023

What is in this PEAK Matrix® Report

In this report, we assess 23 L&A insurance Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its vision, delivery capabilities, market success, and key strengths and limitations. The report also examines the global L&A insurance BPS and Third-party Administrator (TPA) services market and its provider landscape. The study will assist key stakeholders, such as insurance enterprises, service providers, and technology providers, understand the current state of the L&A insurance BPS/TPA market.

This report features 23 L&A service provider profiles, and includes:

  • Providers’ relative positioning on Everest Group’s PEAK Matrix®; for L&A insurance BPS and TPA
  • Providers’ market impact
  • Evaluation of providers’ vision and capabilities across key dimensions

Scope:

  • Industry: L&A insurance BPS/TPA
  • Geography: global
  • In this report, we only cover vertical-specific L&A operations and have omitted horizontal business processes, such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center

DOWNLOAD THE FULL LIFE AND ANNUITIES (L&A) INSURANCE BPS AND THIRD-PARTY ADMINISTRATOR (TPA) PEAK MATRIX® ASSESSMENT 2023 

Related PEAK Matrix® Assessments

Insurance Intermediaries Services
PEAK Matrix®

Insurance Intermediaries Services PEAK Matrix® Assessment 2024

Low-code Technology
PEAK Matrix®

Low-code Technology Providers in Insurance – Products PEAK Matrix® Assessment 2023

Cloud Services in Insurance
PEAK Matrix®

Cloud Services in Insurance PEAK Matrix® Assessment 2023

Insurance BPS
PEAK Matrix®

Property and Casualty (P&C) Insurance BPS PEAK Matrix® Assessment 2023

Our Latest Thinking

Business Benefits of Adopting a Low Code PaaS Solution
Market Insights™

Transforming Insurance: Creating a Best-of-Breed Model by Combining Low-code and Core Platforms

Cloud Services Price Benchmarking Catalog
Market Insights™

Cloud Services Price Benchmarking Catalog

Insurance BPO Price Benchmarking Catalog
Market Insights™

Insurance BPO Price Benchmarking Catalog

Insurers are Prioritizing Low-code Solutions for Speed-to-market and Cost Benefits
Market Insights™

Insurers are Prioritizing Low-code Solutions for Speed-to-market and Cost Benefits

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Datamatics Hits 20% Upper Circuit on Strong Q4FY23 Results | In the News

Shares of Datamatics hit 20% upper circuit to a record high of Rs 414.20 in Tuesday’s intra-day trade amid heavy volumes. The company also reported strong earnings for the quarter ended March 2023 (Q4FY23).

“The digital operations industry-vertical-oriented operations and enterprise back-office operations segments are expected to witness the highest volume of new work in the next five years. Finance & accounting operations, meanwhile, are expected to grow at 9-10% CAGR over the next couple of years and is estimated to reach $14.5 billion in 2025,” according to Everest Group.

Read more in Business Standard.

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.