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News and updates for Information Services Group, Inc. (ISG) (Nasdaq: III) focus on its role as a global AI-centered technology research and advisory firm. ISG regularly issues announcements about its research programs, AI initiatives and market analyses that are relevant to enterprises evaluating technology and business services providers.
Readers can expect coverage of ISG’s AI-focused developments, such as the acquisition of the AI Maturity Index SaaS platform, which assesses and benchmarks workforce readiness for AI adoption, and the formation of an AI Acceleration Unit to coordinate AI-related advisory and research offerings. News may also highlight ISG’s plans for a proprietary insights platform with an AI-powered “intelligence advisor” designed to give organizations real-time access to ISG data and analysis on technology markets and providers.
ISG news frequently features the ISG Provider Lens® research series, which examines providers in areas like private and hybrid cloud data center services, cybersecurity services and solutions, insurance services, and digital business innovation services. Articles describe how enterprises are using AI, cloud infrastructure, digital engineering and unified services to modernize operations and address regulatory, security and customer experience challenges.
In addition, updates from ISG Software Research and its ISG Buyers Guides™ for analytics, AI analytics and enterprise resource planning (ERP) provide insight into software market trends and vendor evaluations. Investors and technology decision-makers can use this news feed to follow ISG’s research agenda, AI-centered strategies and commentary on how enterprises are adopting AI and modern technology platforms.
Information Services Group (III) is set to present key findings from its global Buyer Behavior Study at the ISG Xperience Summit on May 15-16 in San Francisco. The study, conducted in February 2023 with over 250 senior executives, reveals that 48% view customer experience as a critical strategic priority, while 53% will shield it from budget cuts. This highlights the importance of sustaining customer relationships for long-term growth, especially in uncertain economic times. The summit will feature industry leaders from companies like Aflac, Google, and Unilever, focusing on enhancing customer loyalty and creating unique experiences through data insights.
ISG Provider Lens™ report highlights slow adoption of ServiceNow in Germany.
Despite increasing regulatory demands and IT complexities, German businesses have been hesitant to adopt ServiceNow, primarily due to high licensing costs and a preference for open-source models. The crisis in Ukraine has exacerbated energy costs and inflation, further slowing the transition. Dr. Matthias Paletta from ISG notes that while ServiceNow is gaining traction, its growth lags behind markets like the U.S.
Germany's multicloud environments necessitate advanced tools for efficiency, and companies are seeking accredited services to leverage ServiceNow’s full capabilities. The report evaluates the performance of 29 providers, naming leaders such as Accenture and Capgemini, while highlighting rising stars like Computacenter.
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Investments in procurement outsourcing and platforms are increasing in the U.S. public sector, driven by the need for digital modernization post-COVID-19 disruptions. A report from ISG highlights a shift from stagnation to rapid transformation, with many state and local organizations implementing modern procurement systems. New federal funds are enabling these projects, addressing supply chain issues and staffing shortages.
Advanced procurement platforms enhance efficiency by incorporating automation and integration with financial functions. Despite challenges, outsourcing is increasingly seen as a solution to staffing struggles. The report recognizes leaders in procurement services, including CGI and GEP, while HCLTech is noted as a promising Rising Star.
Asia Pacific's IT and business services showed mixed performance in Q1, with managed services increasing by 62% but XaaS declining by 23% year-over-year. The ISG Index™ reported a 4% sequential growth in ACV to $4.1 billion, though this is down 14% compared to last year. Managed services performed well with a 74% surge in IT outsourcing (to $643 million) and a 32% rise in business process outsourcing (to $182 million). In contrast, the XaaS market saw a total of $3.3 billion, which, despite sequential growth of 24%, reflects a significant year-over-year decline. ISG anticipates that the XaaS market will see demand improve in the second half of 2023, although Q1 results also indicated potential hurdles due to macroeconomic factors.
Information Services Group (NASDAQ: III) reports a challenging Q1, with managed services and cloud-based XaaS seeing declines in demand. Managed services ACV fell 1% year-over-year to $5.2 billion, while cloud-based XaaS dropped 11% to $7.3 billion, marking its steepest decline. The overall commercial outsourcing market's ACV stood at $12.5 billion, down 7%, the most significant drop since 2015. Despite this, there was a 12% increase in managed services from Q4, hinting at a potential rebound. ISG has revised its 2023 global XaaS growth forecast down to 15% from an earlier estimate of 17%. The firm highlights a cautious approach among enterprises amid macroeconomic uncertainties.
GEP has been recognized as a Leader for the third consecutive year in the ISG Provider Lens™ report for Business Process Outsourcing (BPO) and Transformation Services 2023. The report highlights GEP's strengths in addressing complex categories in sourcing and spend management, as well as its success in managing large engagements. GEP excels in both BPO Services and Transformation Consulting Services for Large Accounts and Midmarket. The firm's comprehensive approach integrates consulting, managed services, and technology, making it a strategic partner for businesses looking to enhance procurement and supply chain efficiency. GEP's technological capabilities, including its proprietary GEP SMART platform and AI-driven solutions, further solidify its leadership position in the market.
Information Services Group (Nasdaq: III) has released the 2023 ISG Provider Lens™ report, highlighting trends in procurement BPO and transformation services.
While spending on procurement outsourcing has slowed from a pandemic peak of 30% year-over-year to around 15-20%, enterprises continue to modernize procurement processes amid economic uncertainty.
Manufacturing firms lead in procurement outsourcing, representing nearly 30% of engagements. Automation is expanding, integrating AI and machine learning. The report also emphasizes ESG compliance in procurement, with 80% of enterprises committed to sustainable practices.
Leading service providers include Accenture, Genpact, and IBM, with Tech Mahindra identified as a Rising Star.
Information Services Group (Nasdaq: III) reported a 5% decline in first-quarter demand for IT and business services in Europe, continuing a downward trend. The combined market for managed services and cloud-based as-a-service saw an annual contract value (ACV) of US $7.4 billion, remaining flat quarterly but down 5% year-on-year. Managed services ACV increased 4% sequentially to US $3.7 billion, supported by a record number of contracts, totaling 292.
However, XaaS revenue dropped 6% annually to US $3.7 billion, with infrastructure-as-a-service decreasing 10%. The forecast for global XaaS growth was revised down to 15% for 2023. Despite challenges, the company sees potential for improved demand later in the year.
On April 14, 2023, GEP was recognized as a Leader in the ISG Provider Lens 2023 for both 'Large Accounts' and 'Midmarket' procurement software, marking its third consecutive year in the top position. GEP, a prominent provider of procurement and supply chain solutions, emphasizes its innovative software-plus-services model, including direct sourcing and low-code application integration. Analysts highlight GEP's unique approach compared to traditional ERP solutions, which often require costly, multi-year commitments. Strengths attributed to GEP SOFTWARE include superior direct materials management capabilities and a unified AI-driven platform that integrates procurement and supply chain processes. This recognition positions GEP as a vital partner for companies seeking to enhance operational efficiency and drive shareholder value.