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The 2021 ISG Provider Lens™ report reveals that the adoption of private and hybrid cloud services has surged, driven by pandemic-related changes. Many companies are now outsourcing IT infrastructure to align business goals and reduce costs. The report highlights that remote managed services are becoming the norm, and organizations prioritize automation capabilities and strong infrastructure management when selecting providers. HCL and TCS emerged as Leaders across three archetypes, while several others were recognized for their services. The report evaluates the capabilities of 30 providers catering to various customer archetypes.
Information Services Group (ISG) (Nasdaq: III) has initiated a study on digital service providers within the life sciences sector, responding to urgent industry demands for digitization. The findings will feature in an ISG Provider Lens™ report titled Life Sciences Digital Services, to be released in January. This report will aid enterprise buyers in evaluating vendor relationships and solutions to navigate competitive and regulatory challenges. The study includes surveys from over 60 technology service providers, covering five key quadrants aimed at enhancing digital transformation in life sciences.
Information Services Group (ISG) (Nasdaq: III) reported strong financial results for Q2 2021, showcasing a 23% revenue increase to $70.6 million, driven by a 28% growth in the Americas. Net income rose to $4.1 million with earnings per share at $0.08, up significantly from the previous year. Adjusted EBITDA increased by 32% to $9.7 million. The firm aims for double-digit revenue growth in Q3, estimating revenues between $66 million and $68 million. A new share repurchase authorization of $25 million has also been approved.
A recent ISG Provider Lens™ report highlights the role of small technology companies in revolutionizing the retail sector by addressing persistent challenges. This report evaluates ten small providers with annual revenues under $100 million, focusing on technological advancements like smart carts and AI for improving customer experiences and supply chain transparency. Partner Jan Erik Aase emphasizes the importance of these innovations, particularly in a post-pandemic landscape where retailers seek to enhance their digital strategies. The report showcases various vendors such as Caper and Focal Systems, underscoring their contributions to retail technology.
According to a new report from ISG, U.S. enterprises are increasingly relying on cybersecurity providers to combat sophisticated cyberattacks. The 2021 ISG Provider Lens™ Cybersecurity Report highlights the growing importance of partnerships among providers, enhanced security practices like zero-trust architecture, and proactive measures for threat detection. The report evaluates 100 cybersecurity provider capabilities across various quadrants, naming leaders like IBM, HCL, and Wipro. As companies face rising threats, they are adopting advanced identity management and data loss prevention technologies to safeguard their assets.
Information Services Group (ISG) (Nasdaq: III) has initiated a research study focused on providers of digital services for healthcare, amid challenges posed by COVID-19. The findings will be featured in the upcoming ISG Provider Lens™ report titled 'Healthcare Digital Services', set for release in January 2022. The report aims to assist enterprise buyers in evaluating vendor relationships while addressing the growing demand for digital transformation in healthcare, driven by regulatory pressures, cost concerns, and increased adoption of telehealth solutions.
U.S. adoption of SAP S/4HANA is rebounding after slower growth during 2020, as highlighted in the 2021 ISG Provider Lens™ SAP HANA Ecosystem Services report. The report emphasizes S/4HANA's advancements in AI, analytics, and user interface to meet enterprise needs. U.S. companies are increasingly leveraging cloud solutions to improve cost efficiency and agility. Additionally, SAP service providers are implementing AI-driven tools and automation to streamline transformations. Key players like Accenture and IBM are recognized as Leaders in multiple service categories, reflecting their robust capabilities.
ISG (Nasdaq: III) has launched a research study focused on technology services for the manufacturing sector, including connected cars and semiconductors. The findings will be published in a detailed ISG Provider Lens™ report titled Manufacturing Industry Services, expected in November. The report will assess various manufacturing technology providers specializing in automation and shopfloor transformation. It aims to help enterprise buyers evaluate vendor relationships and make informed decisions using expanded customer experience data.
eInfochips, part of Arrow Electronics, has received the 2021 ISG Digital Case Study Award for its exemplary digital transformation services. The award recognizes its collaboration with f'real foods, where they developed an IoT management platform to streamline blender operations, enhancing efficiency and reducing costs. This platform provides real-time data access, enabling predictive maintenance and better fleet management. The ISG awards assessed nearly 250 submissions and selected 39 based on the impact of digital solutions on business performance, reaffirming eInfochips' strength in digital engineering.
The ISG Index™ reported record demand for IT and business services in the Americas, reaching $9.5 billion in combined market ACV in Q2, a 25% year-over-year increase. Cloud-based services led the growth, with a 33% rise to $5.9 billion. Managed services also advanced 14%, totaling $3.6 billion. The Americas generated $18.1 billion in ACV in the first half of 2021, a 14% increase. Significant contracts were awarded, showcasing robust digital transformation demand. ISG upgraded its global growth forecast for cloud services to 21% and managed services to 9% for 2021.
