Banking and Financial Services IT Category Key Risk Considerations | Market Insights™
August 10, 2023
Banking and Financial Services
Banking and Financial Services
Task mining plays a vital role in improving operational excellence, filling the automation pipeline, and accelerating organizations’ digital transformation journeys. It offers a data-driven approach to process optimization and automation, gaining rapid traction across geographies. With diverse use cases spanning business functions and verticals, task mining proves instrumental in achieving cost savings, operational efficiencies, and elevating employee experience. Technology providers are continuously evolving, enhancing their product capabilities, features, and functionalities. To achieve success, enterprises must diligently select the right-fit task mining technology providers that suit their needs.
In this report, we examine 19 task mining technology providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. The research will help buyers select the right-fit technology providers for their needs and enable providers to benchmark themselves against each other.
In this PEAK Matrix® report, we provide:
Scope:
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.
Climate change is the paramount problem of the decade, demanding urgent attention and action. Communities worldwide feel the consequences, such as rising sea levels, extreme weather events, ecological disruptions, and health risks. This underscores the need for immediate and concerted efforts to mitigate and adapt to this unprecedented crisis. In response, enterprises increasingly recognize the importance of embarking on their net-zero journey to address the climate crisis.
However, many enterprises face challenges that hinder their progress, such as limited resources, unclear roadmaps, siloed Environmental, Social, and Governance (ESG) data, and the complexity of transitioning their operations and supply chains to low-carbon alternatives. Additionally, boardrooms are divided between short-term budgetary constraints and long-term net-zero commitments and compliance mandates due to macroeconomic uncertainty and geopolitical tensions.
Net-zero consulting service providers play a vital role in helping enterprises navigate these challenges. They offer innovative data-backed solutions and technologies, such as AI, ML, blockchain, and IoT, to contextualize sustainability and drive maximum value. Furthermore, they assist enterprises in achieving the necessary behavioral shift through change management efforts.
This report captures the current state of the net-zero consulting services market, exploring trends and key drivers shaping the demand-supply dynamics. The report also provides a detailed view of the net-zero consulting capabilities of 31 providers based on their service focus, key Intellectual Property (IP) / solutions, domain investments, and demonstrated market proof points.
In this report, we:
Scope:
All industries and geographies
This assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading net-zero consulting service providers, client reference checks, and an ongoing analysis of the sustainability services market
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.
The demand for Identity and Access Management (IAM) services in the global business landscape is accelerating due to digital transformation trends, the importance of data protection, and the complexities of managing IT environments. The need for effective IAM solutions has intensified with the implementation of BYOD (Bring Your Own Device) policies, cloud-based services, and ongoing cyber threats.
To address the shortage of in-house IAM expertise, companies are adopting external IAM services. This allows organizations to reduce CAPEX and OPEX associated with maintaining an internal IAM team while ensuring efficient and secure management of digital identities. Additionally, as governments worldwide enforce stricter data protection and security regulations, enterprises face pressure to comply with these regulations and adhere to localized data privacy laws. Examples include Europe’s GDPR, California’s CCPA, and Brazil’s LGPD, reflecting the evolving regulatory landscape. Consequently, global enterprises are seeking providers capable of delivering sophisticated, adaptable, and globally compliant IAM services. Key areas of interest include user authentication and authorization, centralized IAM operations, integration of IT/OT IAM services, and regulatory compliance assessments.
In this report, we present a comprehensive analysis of 21 global IAM service providers as featured on the IAM Services PEAK Matrix® Assessment 2023. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against each other.
In this report, we examine:
Scope:
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.
The advent of 5G technology has promised unmatched opportunities for enterprises with new use cases that can benefit the topline. However, despite the hype around private 5G, current adoption patterns in APAC are not providing the promised potential. These ROI conversations have become even more pivotal given the macroeconomic conditions.
Join this webinar as our analysts provide buyers, service providers, and telecom providers with insights into the latest developments, challenges, and opportunities in the APAC market for private 5G.
Our speakers will discuss:
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IT major Cognizant Technology Solutions is getting a chance to push the reset button and get back to growth under its newly-appointed chief executive officer (CEO) Ravi Kumar S.
The new CEO has a chance to revive the Cognizant growth story through a number of strategies, according to Nitish Mittal, Partner at Everest Group.
Big cities in India account for the lion’s share of the IT export services business, but tier-2 and tier-3 cities are also slowly morphing into hubs for the global services delivery.
US IT research advisory Everest Group’s Locations Insider report has estimated that out of the US$180 billion IT services export revenue, about US$36 billion was supported by tier-2 and tier-3 cities, driven by the need for risk diversification, cost savings, access to the untapped talent pool, and lower market congestion.
Analysts and end users have sought data observability for years, but a recent shift has changed how business processes use these tools, leaving organizations with plenty to consider when selecting which tool is best to use and if the commercial investment is worth it.
“Investments in commercial data observability tools and initiatives need to be made from the perspective of the overall business, internal users, and customers,” said Alisha Mittal, a Vice President in IT services at Everest Group.
Historically, Indian IT firms used consulting as the “tip of the spear” with the objective of creating more pull-through revenue for their core business.
“This has led to subpar monetization of consulting practices since these were included with a broader piece of work and not monetized significantly on their own, compared to larger consulting firms who often took a billable headcount approach,” said Nitish Mittal, Partner, Europe Technology Practice, at Everest Group.
In the last few years, enterprise preference for IT service delivery has shifted subtly toward in-house delivery. While IT support remains predominantly outsourced, share of delivery from Global In-house Centers (GICs, or shared services centers) has risen steadily.
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