Tag: Press Releases

Everest Group Launches PEAK Matrix® Assessment for Providers of People Analytics Platforms

Everest Group names Crunchr, Dayforce, One Model, SplashBI, Visier, and Workday as Leaders in helping enterprises use people and business data to improve decision-making across the employee hire-to-retire cycle.

 

DALLAS, May 6, 2024 — According to Everest Group, a growing number of enterprises are prioritizing investment in resources to capture and analyze employee data to make better and more informed decisions rather than relying solely on intuition. To identify leading technology providers in this market segment, Everest Group has published its first PEAK Matrix® assessment for providers of people analytics platforms.

 

Announcing the Market Leaders

Providers of people analytics platforms play a vital role in helping enterprise leaders, human resource professionals, and line managers make decisions using data-based insights. People analytics platforms aggregate data from various people and business data sources, process it, and provide actionable insights for strategic and operational decisions. The tools are applied in use cases such as turnover; recruitment; compensation; Learning and Development (L&D); workforce planning; employee engagement; performance management; organizational design; and Diversity, Equity, and Inclusion (DE&I).

In “People Analytics Platforms PEAK Matrix® Assessment 2024”, Everest Group explores the market impact, vision and capability of 18 technology providers and identifies the following Leaders, Major Contenders, and Aspirants (listed in alphabetical order within each category):

  • Leaders: Crunchr, Dayforce, One Model, SplashBI, Visier, and Workday. Visier leads the people analytics platform market with the highest market share.
  • Major Contenders: eqtble, HCMI, HiBob, isolved, Nakisa, Orgnostic, Sapience Analytics, Vemo Workforce, and Zeroedin
  • Aspirants: Gemini People Analytics, Panalyt, and Praisidio

As this is the first PEAK Matrix® assessment that Everest Group has published for this sector, no Star Performers were named. (Star Performers are determined by movement on the PEAK Matrix® from one year to another)

The report includes a profile on each technology provider, including an assessment of each providers’ key strengths and limitations. The assessment also takes into account each firm’s vision and roadmap, breadth and depth of product functionalities, innovations, partnerships, market performance, client reviews, perspectives of system integrators and more.

***Download Complimentary PEAK Matrix® Preview Here***

“With advancements in technology it is easier than ever before for organizations to capture data from people and business data sources and use analytics as a crucial lever in their human resource decision-making process,” said Sharath Hari N, vice president at Everest Group. “The leaders in the people analytics platforms market have a strong vision and capability to act as a single source of truth for all workforce-related decisions. They also have strong partnership ecosystems, are leveraging technologies such as artificial intelligence and machine learning, and serve multiple use cases across the employee hire-to-retire cycle. We congratulate these providers for being at the forefront of their industry.”

 

About the PEAK Matrix®

The Everest Group PEAK Matrix® is a proprietary framework for assessing the relative market success and overall capability of technology providers based on Performance, Experiences, Ability, and Knowledge. Each technology provider is comparatively assessed on two dimensions: market success and delivery capabilities. The resulting matrix categorizes technology providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers.

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Announces ‘Everest Group Engage’ Global Conference, Launches Events Unit Headed by Veteran Conference Organizer Mark Fissell

Everest Group Global Events will provide information, guidance and networking opportunities to professionals with responsibilities for global shared services, sourcing, technology, vendor management and customer experience.

 

DALLAS, January 24, 2024 — Everest Group today announced the launch of a new conferences business unit, Everest Group Global Events. Mark Fissell has joined Everest Group as senior vice president of Global Events to spearhead the company’s strategy to provide premium-experience educational conferences for the strategic global business leaders Everest Group serves.

Everest Group’s first global conference event, “Everest Group Engage,” will be held September 30 – October 2 at the Renaissance Dallas Hotel. The theme of the conference is “The Pragmatic Edge: Designing Your Future.” The agenda will include valuable information and guidance for C-suite leadership, sourcing and vendor managers, global business services leaders, and customer experience and marketing executives. For more information: https://events.everestgrp.com/engage2024

Everest Group plans to host large, multi-track, multi-day events in numerous geographies around the world as well as smaller, one-day events on compelling topics within specific industries. The events will be designed to provide information, guidance and networking opportunities to help professionals with responsibilities for global shared services, sourcing, vendor management, and customer experience propel their initiatives forward with confidence.

“Everest Group has a stellar reputation for the quality of its research and for offering its clients actionable guidance on how to navigate the challenges of fast-changing technologies, constrained resources and volatile socio-political arenas,” said Fissell. “I’m excited to help the company bring this expertise to more leaders around the world who are eager to unlock value from their people, their technology, their operations, their partner relationships, and even themselves.”

Fissell brings over 20 years of events and information services product leadership experience to the role. Prior to joining Everest Group, Fissell led global conference programs for Forrester Research. Earlier in his career, he managed events and products at AdExchanger, Evanta and Gartner.

“Mark is passionate about building professional communities and facilitating networking and information exchange to help the world’s business leaders achieve their goals,” said Peter Bendor-Samuel, founder and CEO of Everest Group. “Under Mark’s leadership, Everest Group will channel our research and advisory expertise into premium-grade educational and networking opportunities for C-suite executives and senior leaders. It’s an ideal extension of our services and in perfect alignment with our mission to equip enterprise leaders to grow their businesses and succeed in their functional priorities.”

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Launches ‘Service Provider Compass’ Research Series with Assessment of Global Services Delivery from Mexico

Everest Group’s Service Provider Compass™ is designed to help sourcing leaders get an outside-in view of service providers’ market positions in key delivery locations.
 

DALLAS, January 17, 2024 — Everest Group today announced the launch of a new research report series, Service Provider Compass™, designed to provide sourcing leaders with a succinct summary of service provider’s market positions in key delivery locations. Armed with Everest Group’s evaluation and ranking of the service providers in each region, sourcing leaders are better equipped to select the service providers that can meet their talent needs for global services delivery.

“Enterprise sourcing leaders often ask us who the leading service providers are for a particular function in a specific region,” explained Sakshi Garg, Vice President at Everest Group specializing in location optimization and talent strategies. “Our new Service Provider Compass report provides the answers with a three-tiered ranking system that is easy to understand at a glance. Of course, this graphical representation is backed up by more detailed information about each provider’s strengths and challenges with respect to market presence and talent profile. The Service Provider Compass is the type of research report that packs a punch in just a few pages, and we anticipate that global sourcing readers will consider this a must-read series.”

Everest Group assesses service providers in a given region based on these core dimensions:

  • Scale and delivery footprint — Measures providers’ scale, headcount, growth rate, delivery footprint, and any recent expansions in the country
  • Employer brand perception — Measures providers’ brands as employers in the market and any recent accolades
  • Workforce profile — Measures quality and diversity of talent and providers’ ability to retain talent

Based on these assessments, Everest Group ranks service providers in each region:

  • Premier Providers are service providers with a large and well-established presence and multi-city footprint in the location. These providers also enjoy relatively higher success in the talent market by focusing on building a robust employee value proposition and culture.
  • Proven Providers are service providers with credible delivery presence and moderate to low scale of operations in the function. They are typically in high-growth mode and enjoy a strong employer brand perception.
  • Promising Providers are service providers with low to moderate scale, typically a single-city delivery footprint, but with solid potential for future growth, building on the foundation of a robust workforce profile.
Mexico is Focus of First Service Provider Compass

Everest Group’s first Service Provider Compass — “Service Provider Compass™ – Global Services Delivery from Mexico” — assesses providers of Customer Experience Management (CXM) services and Information Technology-Application Development and Maintenance (IT-ADM) services. The report also provides an overview of Mexico’s global services market, including its location value proposition, size and growth, and market activity.

“The CXM market has been surging in Mexico, and the IT-ADM sector is showing notable growth as well, particularly as it taps into highly skilled engineers emerging from Mexican universities,” said Parul Jain, Vice President in the Global Sourcing team at Everest Group. “With a global services talent pool of nearly 197,000 FTEs, Mexico continues to lead technology services delivery in Latin America. Mexico’s key advantages include its proximity to and overlapping time zones with the U.S., affordable rates, and strong English language skills. With these assets, Mexico serves as a hub for U.S. firms to set up more cost-effective centers.”

Service providers featured in the report include Accenture, Alorica, Atento, Atos, Capgemini, Cognizant, Concentrix + Webhelp, Conduent, DXC Technology, Encora, Endava, EPAM, Foundever, Genpact, GlobalLogic, Globant, HCLTech, IBM, Infosys, Konecta, Neoris, NTT DATA, Persistent Systems, Qualfon, ResultsCX, Softtek, Stefanini Group, Sutherland, TaskUs, TCS, Tech Mahindra, Teleperformance, TTEC, Wipro, and Wizeline.

The report is available for complimentary download.

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

 

“Do More with Less” Will Be Driving Force for Enterprises in 2024 — Everest Group

The Everest Group 2024 Key Issues Study reveals revenue growth and cost optimization as the top-most business priorities of enterprise executives for the coming year. ‘Cost and margin pressures’ rank as the No. 1 challenge while talent acquisition drops to No. 8.

 

DALLAS, December 8, 2023 — 2024 will be the year of doing more with less, according to the results of the Everest Group 2024 Key Issues Study of enterprise executives. Top priorities for enterprises for the year ahead are revenue growth and a continued emphasis on cost optimization. Talent acquisition, which dominated enterprise concerns just two years ago, is no longer among the Top 5 expected challenges, falling to No. 8 from previous No.1 and No. 3 positions in expectations for 2022 and 2023, respectively.

“’Do more with less’ will be the mandate in 2024 for both enterprises and service providers,” said Hrishi Raj Agarwalla, vice president at Everest Group. “Enterprise leaders in our 2024 Key Issues Study are clearly focused on lowering costs and increasing profitability and will be placing high expectations on service providers with little room for rate increases. Enterprise spending in 2024 will be directed toward modernizing technology, data analytics and process optimization. We’ll certainly see a ramp-up in GenAI investment as organizations continue to explore use cases and try to keep pace with the rapid changes AI is bringing. Overall, our research indicates that 2024 will be a ‘nose to the grindstone’ year of improving operational efficiency.”

***Webinar: Key Issues 2024: Creating Accelerated Value in a Dynamic World***

Everest Group will present the findings of its 2024 Key Issues Study in a December 12 webinar.  Everest Group experts will discuss the major concerns, expectations, and trends for 2024 and provide recommendations on how to drive accelerated value from global services – helping position organizations to plan and align goals and succeed in 2024. ***Register for the webinar here.***

Following are a few of the findings from the 2024 Key Issues Study that will be discussed in the webinar:

 

New Technologies Drive Optimism

Although “bullish” may be too strong an adjective to use about enterprise expectations for 2024, the majority of enterprise executives are optimistic about the evolution and adoption of new technologies (76%) and positive changes in customer interest and purchasing behavior (52%). However, 75% of executives believed global macroeconomic conditions will have a negative influence on their business in 2024. Similarly, 68% of executives believe the geopolitical environment will pose challenges in the year ahead.

 

The Global IT-BP Services Industry Will Continue to Grow and Shift

A vast majority of enterprises (82%) expect their global services budgets either to remain flat (39%) or increase in 2024 (43%). The headcount growth is also expected to be lower than 2023. Further, enterprises expect to increase the leverage of Global Business Services and offshore locations.

 

New Investment Priorities

The key levers executives plan to use to achieve their business goals in the coming year include operational levers such as:

  • Technology modernization
  • Data analytics and insights
  • Process optimization and operational efficiency

 

Productivity and Resilience Will Drive Technology Investments

Executives ranked cybersecurity as the highest priority technology investment for the next six to 12 months, followed by cloud solutions, advanced automation, big data analytics and generative AI (GenAI). Enterprises are still early in their GenAI adoption cycles. Due to a lack of in-house capabilities, many enterprises are turning to service providers for help in integrating GenAI into their operations. Most executives (67%) expect GenAI to improve or transform workflows in functional areas.

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Unveils Inaugural ‘Artificial Intelligence Top 50’ Recognizing Global Market-Leading AI-first Technology Providers

Collectively, these AI technology providers have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.

 

DALLAS, November 16, 2023 — Everest Group today released the inaugural edition of the “Everest Group Artificial Intelligence Top 50™” (AI Top 50), a list of the world’s largest AI technology providers. AI technology providers are those that develop and integrate Artificial Intelligence (AI) as a central component in their products and solutions.

“As AI technology rapidly advances, it is redefining human-machine interactions and reshaping industries, if not our way of life,” said Vishal Gupta, vice president at Everest Group. “The remarkable growth in AI innovation has given rise to more than 5000 AI technology providers in the past decade alone, by our estimates. The Everest Group AI Top 50 will help enterprises identify the 50 largest, most well-funded, and relatively scaled-up AI-first companies amongst this sea of AI technology providers. The list also helps AI technology providers to compare themselves against others in the industry.”

Topping the 2023 AI Top 50 list are these 10 technology providers:

  1. Open AI
  2. Palantir
  3. Anthropic
  4. Databricks
  5. Dataiku
  6. SenseTime
  7. 4Paradigm
  8. DataRobot
  9. Gong
  10. C3 AI

 

*** Download a complimentary copy of the 2023 Everest Group AI Top 50 list and analysis ***

 

Key Highlights of the Everest Group AI Top 50 Report

The Everest Group AI Top 50 includes numerous additional research findings, including:

  • The U.S. hosts the most AI technology providers (72%); however, innovative companies are emerging globally. China follows with 12%, showcasing its rapid ascent in the global tech arena driven by its booming domestic market.
  • Almost 50% of the technology providers in this list offer applied AI solutions. Applied AI includes applications and solutions that solve real-world problems and address specific business needs of enterprises in specific industries.
  • Privately held companies (82%) dominate the Everest Group AI Top 50 distribution in comparison to public companies (18%). Collectively, the AI technology providers in this list have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.
  • Everest Group has documented a noticeable trend of decreasing time to unicorn status for AI providers in various industries worldwide.

“While we’ve recently seen a surge of AI innovation over the past year, Dataiku has been at the forefront long before the AI hype,” said Krish Venkataraman, President of Dataiku. “Our inclusion in Everest Group’s inaugural AI Top 50 list is a testament to our AI-first approach for customers worldwide – making Everyday AI a possibility for all.”

 

About the Everest Group AI Top 50™

The Everest Group AI Top 50™ is a global list of the Top 50 AI-first providers. To qualify for the list, providers must meet three criteria:

  • AI-first: These providers develop and integrate AI as a central component in their products and solutions to a degree that without it, their offerings would be fundamentally incomplete. Providers that have AI as a feature which helps in improving their current offering, such as automation-first vendors, are excluded from this assessment.
  • Software-first: These providers develop and provide software-based AI solutions as their primary offering. The list excludes providers offering pure play hardware and service-based AI offerings.
  • B2B focus/offerings: These providers offer software products and solutions to meet the technological needs of other businesses. The list excludes providers that exclusively offer AI solutions for consumer (B2C) purposes.

Technology providers are ranked based on their overall AI revenue (40%), total funding received (30%), growth in funding during last two years (15%), and market valuation (15%).

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Launches PEAK Matrix Assessment for Supply Chain IT Transformation Service Providers for Retail and Consumer Packaged Goods

Everest Group names Accenture, EY, HCLTech, TCS and Tech Mahindra as Leaders in helping enterprises optimize operations, align demand and supply, enhance customer experiences, and respond swiftly to market changes.

 

DALLAS, October 11, 2023 — According to Everest Group, retail and Consumer Packaged Goods (CPG) enterprises have invested heavily in supply chain IT transformation services in the past few years, especially after the pandemic underscored the urgency of a flexible and resilient supply chain. To identify leading service providers in this crucial market segment, Everest Group has published its first PEAK Matrix® assessment for Supply Chain IT Transformation Service Providers for Retail and Consumer Packaged Goods.

 
Announcing the Market Leaders

Supply chain IT transformation service providers play a vital role in optimizing operations, aligning demand and supply, improving customer experiences, and enabling rapid responses to market changes. In “Supply Chain IT Transformation Services for Retail and CPG PEAK Matrix® 2023,” Everest Group explores the market impact, vision and capability of 15 service providers and identifies the following Leaders, Major Contenders and Aspirants (listed in alphabetical order within each category):

  • Leaders: Accenture, EY, HCLTech, TCS, Tech Mahindra.
  • Major Contenders: Capgemini, Cognizant, Deloitte, Genpact, Infosys, LTIMindtree, Wipro.
  • Aspirants: Sonata Software, Visionet Systems, Zensar.

As this is the first PEAK Matrix assessment that Everest Group has published for this sector, no Star Performers were named. (Star Performers are determined by movement on the PEAK Matrix from one year to another.)

The report includes a profile on each service provider, offering a comprehensive picture of the provider’s service focus, key Intellectual Property (IP) and solutions, domain investments, and case studies.

***Download Complimentary PEAK Matrix® Preview Here***

“The retail and Consumer Packaged Goods sector is experiencing a significant surge in demand for supply chain IT services,” said Abhishek Mundra, practice director at Everest Group. “Enterprises are actively responding to supply chain disruptions and evolving consumer preferences. They prioritize cloud-based connected ecosystems, data-driven process optimization, and omnichannel enablement. Providers must develop tailored solutions and Ips for retail and CPG firms, enabling automation and advanced forecasting to accelerate ROI and address supply chain transformation needs.”

 
About the PEAK Matrix®

The Everest Group PEAK Matrix is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. The resulting matrix categorizes service providers as Leaders, Major Contenders and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers.

 
About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Unveils Its 2023 List of Top 50 Engineering Services Providers

Capgemini, HCLTech, and Alten top the list

 

DALLAS, September 12, 2023 — Everest Group today released the fifth annual edition of “Everest Group Engineering Services Top 50™,” a ranking of the world’s largest third-party providers of engineering services (ES). The ranking is based on revenues and year-on-year growth.

Engineering services include all activities that support the design, development, testing and management of products, both hardware and software.

Topping the 2023 ES Top 50 list are these 10 providers:

  1. Capgemini
  2. HCLTech
  3. Alten
  4. Tata Consultancy Services
  5. Accenture
  6. Akkodis
  7. Cognizant
  8. AFRY
  9. EPAM
  10. Wipro

 

Other highlights:
  • The report identifies the Top 10 companies based on revenue alone. The Top 5 are Capgemini, HCLTech, Tata Consultancy Services, Alten and Akkodis.
  • The report also identifies the Top 10 fastest growing ES companies. The Top 5 are Encora, Globant, Endava, GlobalLogic and Softserve.

 

*** Download a complimentary copy of the 2023 Everest Group ES Top 50 list and analysis ***

 

The Everest Group Engineering Services Top 50 represented 82% (more than US $60 billion) of the estimated US $73 billion in total outsourced spending in 2022. The global ES industry grew 11 to 11.5% between 2021 and 2022.

“ES providers have continued to boost their engineering capabilities and acquire companies to increase scale and gain access to new markets,” said Akshat Vaid, partner at Everest Group. “Outsourcing has increased from 2021, driven by a platformization wave, increased investments in connected and electric cars, and a rise in sustainability and green technology practices toward software and digital engineering.”

 

Key Updates on the Engineering Services Market

This year’s edition of the Everest Group Engineering Services Top 50 includes numerous additional research findings, including:

  • Identification of ES offerings by horizontal and vertical markets for each of the ES Top 50 providers
  • A recap of year-on-year market growth since 2020
  • Themes contributing to market growth in 2022
  • Comparison of market share and growth of broad-based versus pure-play service providers in the ES Top 50 List
  • Summary of merger and acquisition (M&A) activity in 2022, including a list of key acquisitions
  • Regional comparison of growth rate for ES providers

 

About the Everest Group Engineering Services Top 50™

The Everest Group Engineering Services Top 50™ is a global list of the 50 largest third-party providers, based on their ES revenues and year-on-year growth. Revenues comprise 75% of the composite score used for ranking. Growth comprises 25% and has two sub-parameters: absolute growth (measured as change in ES revenue in US$ million and accounting for 12.5% of the composite score) and percentage growth (measured as percentage change in ES revenue and accounting for the final 12.5% of the composite score).

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Research: C-Suite Must Recognize Critical Difference Between Cybersecurity and Cyber Resilience

According to Everest Group, an enterprise shift from mere awareness of cyber threats to actively working toward resilience has the potential to redefine the future of cybersecurity services.

 

DALLAS, August 29, 2023 — Everest Group is calling on enterprises to make the critical shift in focus from cybersecurity to cyber resilience. While cybersecurity focuses on safeguarding against threats, cyber resilience emphasizes the ability to withstand, respond and recover quickly from them.

Everest Group issues this call to action in its recently published “State of the Market Report” on cybersecurity services. The report focuses on differentiating cybersecurity from cyber resilience, emphasizing that these two concepts are often mistakenly considered synonymous in the business world.

“Cybersecurity is just one component of cyber resilience, but, unfortunately, many enterprises fail to understand the subtle difference,” said Kumar Avijit, practice director of Information Technology Services at Everest Group. “While a majority of C-suite executives concentrate on preventive controls and response, equal importance needs to be allocated to the recovery, revamp, and reinforcement stages of cyber resilience. For any business, having a comprehensive cyber resilience strategy is critical in safeguarding long-term viability and success.”

 

Everest Group rates current C-suite focus on the “5 Rs of cyber resilience” as follows:

  • Ready – High: C-suite is extensively focusing on pre-emptive measures to secure themselves from cyberattacks and are investing in cutting-edge technologies.
  • Respond – High: There is rapid adoption of extended detection and response (XDR) tools in the market, and service providers too are now focusing on automated incident response to cut down on the standard metric of Mean Time to Resolution (MTTR).
  • Recover – Medium: There is very little focus on the recovery aspect from the C-suite, underpinned by the challenges of data fragmentation, infected backups, and meeting Recovery Time Objective (RTO) that are visible across the C-suite.
  • Reinforce – Low: C-suite is not focused on learning from cyberattacks on peer organizations and building defenses accordingly. In most case, the C-suite lacks a comprehensive vision of security and instead remains reactive.
  • Revamp – Low: C-suite is not acting agile enough to focus on the next-generation technology and thinking a step beyond on how to secure itself from the new attack vectors that the new shine tech brings.

 

These findings and more are detailed in Everest Group’s recently published report, “Cybersecurity Services State of the Market Report 2023: Cyber Secure to Cyber Resilient.”  ***Download a complimentary abstract here. ***

The report provides an in-depth analysis of the global cybersecurity market, with special sections on North America and Europe. In addition, the report introduces a unique and easily understandable framework to assist enterprises, particularly the C-suite, in swiftly incorporating cyber resilience into their operations. Additionally, the report explores the implications for providers in key areas such as solutions, services, partnerships, talent, and engagement models, illustrating how they can enable enterprises to adopt cyber resilience.

Selected Highlights:

  • Projections suggest the cybersecurity services market, currently valued at $US 70-73 billion, will surpass the $100 billion mark in 2025, exhibiting a CAGR of 16-18% between 2021 and 2025.
  • Identity and access management (IAM), cloud security, and application security form the largest segments of the cybersecurity market, collectively representing 56% of the overall market.
  • Cybersecurity consulting services are experiencing rapid growth, with a current market share of 25%. This is closely followed by design and implementation at 29% and managed security services leading at 46%.
  • North America remains the largest market (40%) followed by Europe (33%) and Asia (21%).
  • 63% of enterprise have mentioned lack of skills/talent as among their top three biggest challenges when it comes to cybersecurity.
About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.

Everest Group Announces Winners of 2023 Engineering Services PEAK Matrix Provider of the Year Awards

HCL Technologies and TCS tie for No.1 on ranking of top engineering services providers; Mphasis named as Top Challenger

 

DALLAS, August 10, 2023 — Everest Group today released the second annual edition of its Engineering Services PEAK Matrix Provider of the Year™ Awards. These awards recognize the engineering services providers that have consistently ranked as top performers across Everest Group’s PEAK Matrix® assessments in the preceding year.

Everest Group PEAK Matrix evaluations are a valuable resource for engineering services buyers to evaluate, compare and contrast key providers in the global services space. In 2022, Everest Group published five engineering services PEAK Matrix® reports across 10 assessment areas, featuring 55 providers across all evaluations. Key services segments evaluated included digital products, digital twins, connected medical devices, Industry 4.0 and software products.

 

The Engineering Services Top 15:

  1. (Tie) HCL Technologies and TCS
  2. Accenture
  3. Cognizant
  4. (Tie) Capgemini and Wipro
  5. Infosys
  6. Mindtree
  7. GlobalLogic
  8. Tech Mahindra
  9. HARMAN
  10. EPAM
  11. LTTS
  12. Globant
  13. Persistent Systems

 

Top 5 Engineering Services Challengers

  1. Mphasis
  2. Infogain
  3. Happiest Minds
  4. Softserve
  5. Cyient

 

*** Download a complimentary copy of the 2023 Engineering Services PEAK Matrix Provider of the Year Awards ***

 

“The Engineering Services PEAK Matrix Provider of the Year™ Awards recognize an elite group of engineering services providers who set themselves apart by exhibiting consistent leadership and top performance across many different categories,” said Akshat Vaid, partner at Everest Group. “More importantly, as today’s enterprises navigate the complex landscape of next-generation and legacy technologies, a global business footprint and a complex provider portfolio, the PEAK Matrix Provider of the Year Awards help them to identify the best of the best — providers with strong capabilities and successful services strategies that align well with the evolving enterprise engineering services demand.”

“Digital engineering is transforming businesses and helping efforts to create a sustainable world,” said Vijay Anand Guntur, president, Engineering and R&D Services (ERS), at HCLTech. “With over 45 years of engineering heritage and experience working with top R&D players across 10-plus verticals, HCLTech is uniquely positioned to partner with enterprises in their endeavor to leverage digital technologies to transform their business. We are glad to be recognized as the No. 1 player in Everest Group’s 2023 PEAK Matrix Provider of the Year award. This achievement is a testament to HCLTech’s record of being a preferred engineering services partner of Global 2000 companies in building innovative products and platforms.”

“We are benefiting immensely from our engagements with conventional businesses aspiring to transform themselves digitally to become software companies, software vendors seeking to modernize and rearchitect their products using cloud native technologies, and product companies embarking on product and business model innovation,” said Regu Ayyaswamy, global head, Internet of Things & Digital Engineering, at TCS. “Our deep domain expertise, industry leading portfolio of IP and design labs are helping clients launch new products faster and optimize their sustenance. Our investments in IoT and Digital Engineering, including the Bringing Life to Things framework, are helping product companies scale up innovation, leverage IoT, AI and machine learning to make those products more intelligent, software-defined and connected, and to embrace as-a-Service business models. The emergence of newer technologies is only accelerating this trend, so we are very excited about the opportunities ahead.”

 

About the PEAK Matrix®

The Everest Group PEAK Matrix® is a proprietary framework for assessing the relative market success and overall capability of service providers based on Performance, Experiences, Ability and Knowledge. Each service provider is comparatively assessed on two dimensions: market success and delivery capabilities. Market success is measured by revenue, number of clients and year-over-year growth. Delivery capability is measured by scale of operations, scope, technology and innovation, delivery footprint and buyer satisfaction. The resulting matrix categorizes service providers as Leaders, Major Contenders, and Aspirants. Companies that demonstrate strong upward movement in successive reports are recognized as Star Performers.

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.

Everest Group Names Top Employers for Tech Talent in US, UK and India

Eighty companies recognized by Everest Group as top tech employers based on brand perception and perceived performance from 400-plus companies assessed in top three talent markets.

 

DALLAS, August 1, 2023 — Everest Group today released the results of its second annual rating of top employers for tech talent, this year expanding the rating beyond the United States to include employers in the United Kingdom and India. The Everest Group Top Employers for Tech Talent™ report for 2023 identifies eighty companies perceived to be the best tech employers by virtue of their work environment and the job satisfaction of their employees.

Everest Group analyzed publicly available information on 400+ leading tech employers based out of the U.S., the U.K. and India to analyze the employer brand perception and the perceived performance of each of these tech employers in the local talent markets.

The Top Employers for Tech Talent report identifies 40 top employers in the U.S., 25 in India, and 15 in the U.K. In addition, Everest Group’s research team assessed the initiatives undertaken by best-in-class tech employers to differentiate themselves in talent markets.

 

***Download a complimentary copy of the Top Employers for Tech Talent report here (registration required).***

 

***View the on-demand webinar “The 2023 Top Employers for Tech Talent: Insights to Create a Powerful Employer Value Proposition,” featuring Brandi Khoury, vice president, Human Resources Global Talent Acquisition–Technical at Shell, and Shweta Mohanty, vice president, head of HR at SAP, India.***

“Despite the slowdown and layoff cycles of 2023, organizations are still struggling to recruit and retain high-quality tech talent, particularly employees with niche technology skillsets and expertise,” said Rohitashwa Aggarwal, partner at Everest Group. “Our research shows perceived brand perception of tech employers strongly influences and correlates with success in the talent markets. The Top Employers for Tech Talent assessment helps organizations benchmark against the leaders who are perceived by their tech employees as successfully creating the culture and work environment they want and need.”

 

Top Employers for Tech Talent in the U.S.

Among 210 of the largest employers for tech talent in the U.S. assessed by Everest Group, 40 were designated as Top Employers. Among the highest rated are Alphabet, ConocoPhillips, Fidelity Investments, Intuit, Netflix, Nvidia, Salesforce, ServiceNow and VMware.

 

Top Employers for Tech Talent in the U.K.

Among 70 of the largest employers for tech talent in the U.K. assessed by Everest Group, 15 were designated as Top Employers: ABB Ltd., Amazon.com, Apple, Astra Zeneca, Cisco Systems, Dell Technologies, Ericsson AB, Intel Corporation, Meta Platforms, Nokia Corporation, PricewaterhouseCoopers, Sage Group, SAP SE, Shell and Vodafone Group.

 

Top Employers for Tech Talent in India

Among 135 of the largest employers for tech talent in India assessed by Everest Group, 25 were designated Top Employers. Among that group, the top rated include Adobe, Alphabet, Apple, Experian, Microsoft, Salesforce, Sun Life Financial, Synchrony Financial, Thomson Reuters, Uber and VMware.

“I am thrilled that Experian is amongst the Top Employers for Tech Talent in India and the United States,” said Ravi Devesetti, global chief technology officer, Experian Software Solutions. “This award is a testament to the harmonious collaboration between the two countries and the common passion for technology. Our positioning of ‘Engineering Excellence Everywhere’ has steered us towards attracting the top tech talent in both countries. This remarkable achievement signifies the culmination of our team’s dedication, resilience and enthusiasm for excellence in the field of technology and engineering. We have made significant investment in our employees’ growth and upskilling through path-breaking Learning & Development programs. Innovation is at our core; we encourage an environment of continuous learning through Hackathons that see incredible participation from our employees. Our early careers and university partnerships have fueled our strategy to attract top tech talent. This award signifies our commitment to pushing boundaries of technological advancement, and my heartfelt gratitude to everyone who has played an important role in this remarkable achievement. Our commitment to innovation, engineering excellence everywhere and societal impact remains integral to us.”

 

Key Takeaways:
  • Employer brand perception is dynamic and fluctuates over time. In 2022-23, employer brand perception ratings across the U.S. took a noticeable dip, while tech employers in India have maintained their brand perception ratings.
  • Holding the top position as the preferred employer for tech talent is a formidable challenge, as approximately 40% of last year’s top performers have slipped from the top quadrant in India and the U.S. However, some tech employers have achieved significant improvements in brand perception through multi-pronged initiatives.
  • Employee expectations are continuously evolving. Work flexibility and diversity and inclusion (D&I) emerged as crucial factors in attracting and retaining talent, with compensation and benefits also ranking highly important.
  • Systematic differences impact employer brand perception. Employees in India generally place more importance on compensation and benefits whereas employees in the U.S. and the U.K. are more concerned about career development.

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.

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