News
BPM Companies Turn To Cost-saving Deals in New Normal
Business process management (BPM) offerings are increasingly incorporating data analytics and automation. As clients prioritize cost reduction and inflation prevention, BPM companies are securing more cost-saving deals.
The majority of industrial sectors have budgets that are slightly higher than 2022, but many businesses were unable to spend their entire budgets last year. As a result, we anticipate a 5-7% increase in industry growth over the previous year. Although this is lower than the 12% of 2022, it is still healthy, according to Everest Group CEO Peter Bendor-Samuel.
Cost Takeout Deals Put Big IT Firms at Advantage
Despite the fact that the global economic slowdown threatens to moderate growth prospects for the upcoming fiscal year, the larger Indian information technology (IT) companies are taking it easy. During the Russia-Ukraine conflict, inflation is rising, putting more and more pressure on businesses to cut costs. “They (large IT companies) are likely to benefit from portfolio rationalization in the large accounts. However, the smaller vendors have a slight advantage when dealing with smaller customers. The global consulting firm Everest Group's CEO, Peter Bendor-Samuel, told Deccan Herald that "net, net, it will be beneficial for the larger firms."
New CEO Kumar Set to Push Reset Button at Cognizant
According to Nitish Mittal, Partner at Everest Group, the IT major Cognizant Technology Solutions is getting a chance to reset and get back to growth under its newly appointed CEO, Ravi Kumar S. The new CEO has a chance to revive the Cognizant growth story through a number of strategies.
Building a Shared Services Organization Structure
Amid the shifting economic climate and new reality of hybrid workforces, there’s no better time for companies to consolidate business functions and centralize support services. Five basic questions need to be asked when planning to centralize business functions and shared services companywide, according to Jimit Arora, Partner at research firm Everest Group.