Information Services Group, Inc. - III STOCK NEWS

The 2020 ISG Provider Lens Cyber Security – Solutions & Services Report highlights the increasing involvement of Brazilian executives in cyber security amid growing concerns over data breaches. Companies are adapting due to the Lei Geral de Proteção de Dados (LGPD) and the COVID-19 pandemic, which has shifted many to remote work. The report evaluates 55 providers in five quadrants, with IBM leading in four. Trends include a focus on artificial intelligence and machine learning for managed services and rising importance of identity management as businesses transition to the cloud.

According to the ISG Index report, Asia Pacific's outsourcing market faced a significant decline in Q2 2020, decreasing by 24% year-over-year to $1.9 billion due to COVID-19 impacts. Managed services dropped by 47% to $529 million, with IT outsourcing down 42% and business process outsourcing down 71%. However, as-a-service offerings only fell by 9%. For the first half of 2020, overall ACV declined 11%, with managed services down 39%. Despite this, as-a-service grew nearly 5%, albeit at a slower rate than 2019. Forecasts suggest slight growth in the global market for Q3 and Q4 2020.

On August 17, 2020, Information Services Group (Nasdaq: III) announced the winners of the 2020 ISG Paragon Awards™ APAC, honoring innovative sourcing partnerships in technology. Key winners included Ramco Systems with Norske Skog Australasia for ERP Transformation and Unisys with The Philippine Statistics Authority for Civil Registry System Modernization. Nitin Rakesh from Mphasis was recognized for leadership. ISG emphasized the importance of digital transformation in resilience during the pandemic, congratulating honorees for their contributions to the industry.

On August 13, 2020, Information Services Group (Nasdaq: III) announced a new research study focusing on the service provider market for intelligent business automation, AIOps, and conversational AI. Scheduled for release in December, the ISG Provider Lens report will examine various intelligent automation solutions, helping enterprises enhance productivity and customer experience. The study will analyze over 70 providers and will feature three quadrants covering proprietary solutions, AIOps, and conversational AI, delivering insights for enterprise buyers and advisors.

According to a recent report by Information Services Group (III), enterprises in Germany are gradually adopting SAP's S/4HANA database, with a growing preference for cloud-based infrastructure. The 2020 ISG Provider Lens SAP HANA Report highlights a rapid expansion of cloud services in the country. Many companies are hesitant to upgrade due to the potential impact on their systems. A greenfield approach is increasingly favored for transitioning to new SAP products. Despite the pandemic, SAP projects remain largely unaffected, with many companies successfully adapting to remote work for ongoing initiatives.

ISG is set to host a Smartalks™ webinar on August 13, 2020, focusing on the role of automation in enhancing customer experience while reducing costs. Experts Wayne Butterfield and PV Kannan will discuss the shifting dynamics in contact centers amid COVID-19, highlighting a 300% increase in digital channel utilization. Key topics include challenges in agent supply, the impact of the pandemic on performance metrics, and the effectiveness of omnichannel strategies. The session aims to guide organizations on optimizing customer engagement and operational efficiency during these unprecedented times.

Information Services Group (ISG) reports second-quarter 2020 revenues of $57.4 million, exceeding guidance despite a 15% decline year-over-year. Adjusted EBITDA reached $7.4 million, more than double from the previous quarter, with a net income of $0.6 million. Cash flow from operating activities hit a record $22 million for the quarter. ISG reduced debt by 7% to $80.9 million and acquired Neuralify, enhancing its automation capabilities. For Q3 2020, ISG estimates revenues between $53 million and $55 million.

The ISG Provider Lens™ report highlights the growing trend of Swiss enterprises adopting hybrid cloud models, along with managed hosting and colocation services, as they demand geo-redundancy to safeguard against natural disasters. The report shows a rise in interest for managed services, fueled by businesses relocating IT due to the UK's exit from the EU. Leaders identified in the report include EveryWare, IBM, and Swisscom, among others. The study evaluates 84 providers across various service categories, emphasizing the need for competitive managed and professional services.

The ISG Provider Lens™ 2020 report highlights a surge in demand for colocation services in Germany as enterprises seek better connectivity and cost-efficiency. With high regulatory costs outpacing existing data centers' capabilities, businesses are turning to colocation providers for superior security and energy savings. Notable trends include the emergence of new providers, increased interest in hyperconverged systems, and the growth of hybrid cloud services tailored to client needs. The report evaluates 114 firms, naming leaders like IBM and Deutsche Telekom across various service quadrants.