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Information Services Group, Inc. reports developments as a global AI-centered technology research and advisory firm serving enterprise technology and business-services markets. The company publishes research on digital transformation, AI adoption, sourcing, cloud and data analytics, provider ecosystems, governance, risk, software, network and technology strategy.
Recurring news includes ISG Provider Lens® studies across industries such as healthcare, life sciences, aerospace and defense, automotive and mobility, SAP ecosystems and global capability centers. Company updates also cover quarterly results, GAAP and non-GAAP performance measures, advisory-market trends and the role of AI, automation, data platforms and managed services in enterprise operations.
Enterprises in Germany are increasingly investing in analytics platforms to leverage data for competitive advantage, according to a new ISG Provider Lens report. Highlights include:
- Growing awareness of big data drives adoption of analytics tools.
- Companies are scaling back investments due to economic challenges.
- Service providers have implemented advanced analytics applications to navigate supply chain disruptions.
- Qlik is named a leader in both analytics quadrants, with other significant players including Microsoft and IBM.
As data complexity grows, customized solutions for specific regional needs become crucial for success.
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.