Information Services Group, Inc. - III STOCK NEWS

Rising costs and dwindling expertise in legacy applications are driving mainframe modernization, according to the ISG Provider Lens™ report. As businesses recover post-COVID-19, European enterprises are seeking cost-effective solutions that combine mainframe dependability with cloud flexibility. The report highlights that modernization services have gained momentum as organizations aim to update legacy applications. Notably, TCS is recognized as a Leader in four service quadrants, while other firms like Atos and Capgemini excel in three. The need for IT talent to manage legacy systems poses challenges, creating demand for third-party service providers.

Demand for mainframe modernization is increasing in the U.S. public sector as agencies face challenges meeting constituent needs with outdated systems, according to ISG's latest report. The COVID-19 pandemic highlighted these limitations, resulting in minor system disruptions due to increased utilization.

Agencies are seeking modernization solutions such as cloud migration and agile development to reduce costs and improve efficiency. Recent federal funding for modernization remains largely untapped as agencies prioritize budget-neutral projects. However, ISG predicts a surge in mainframe migrations over the next three years as public sector organizations recognize modernization benefits.

ISG, a leading global technology research and advisory firm, emphasizes the necessity for insurers to embrace the metaverse to attract tech-savvy talent and clients. During a recent Insurance Journal webinar, ISG's Director, Dennis Winkler, highlighted that modern graduates seek high-tech careers, often overlooking insurance. The metaverse can enhance employee engagement and customer interaction. Insurers must act swiftly to explore metaverse opportunities, such as virtual storefronts and innovative offerings like life and cyber insurance for virtual assets. By starting their metaverse strategies now, insurers can better assess risks and improve their product development.

Enterprises in the U.S. and Brazil are increasingly modernizing mainframe applications and outsourcing related capabilities, according to a new ISG report. The 2023 ISG Provider Lens™ highlights that organizations are prioritizing budgets for near-term results while acknowledging the crucial need for modernization.

John Schick of ISG emphasizes the operational benefits and cost reductions of moving away from traditional mainframe infrastructure. The report reveals trends in mainframe migration to cloud, driven by performance gains and ESG objectives, with most enterprises lacking documentation for compliance on legacy systems.

ISG Provider Lens™ report highlights that enhancing employee experience (EX) is critical for organizations in adapting to hybrid work environments. The report reveals a growing demand for technological solutions aimed at improving EX even pre-pandemic, accelerated by talent shortages and the Great Resignation. It identifies four client archetypes that utilize services for the future of work and evaluates 20 providers. Notably, Atos is recognized as a leader across all archetypes, while others like Capgemini and HCLTech lead in three. The report emphasizes a shift towards experience level agreements (XLAs) to better meet employee expectations.

Information Services Group (NASDAQ: III) has launched ISG Training as a Service (TaaS), a managed service training solution that provides on-demand access to customized learning content. This innovative service enables clients to adapt training programs, enhance software ROI, and upskill employees efficiently. Early adopters report an average ROI exceeding 50%, with one U.S. banking client saving $19 million in its first year and optimizing training for over 40,000 hires annually. Another pharmaceutical client transformed its training from a cost center to a profit center, while a tech firm expects an ROI of over $100 million in five years.

Information Services Group (NASDAQ: III) has initiated a research study on providers of managed payroll services, indicating a strong demand for agile payroll systems amidst global talent shortages and economic uncertainty. The forthcoming ISG Provider Lens™ report, titled Payroll Solutions and Services 2023, will analyze vendors across three key segments: managed payroll services for small, mid-large U.S. markets, and global multi-country services. The report aims to assist enterprise buyers in evaluating their vendor relationships and adapting payroll operations to facilitate business expansion. The full report is expected to be released in July.

Information Services Group (Nasdaq: III) has initiated a study to assess service providers that assist enterprises in leveraging the Google Cloud Platform (GCP). The findings will be featured in the forthcoming ISG Provider Lens™ report, titled Google Cloud Partner Ecosystem 2023, releasing in August. The report will analyze five quadrants of services: Implementation and Integration, Data Analytics and Machine Learning, Managed Services, SAP Workloads, and Workspace Services. Over 150 Google Cloud partners have been surveyed to contribute insights, aiding enterprise buyers in vendor evaluation and potential partnerships.

ISG Provider Lens™ report highlights the pivotal role of service providers in aiding enterprises with digital transformation amidst challenges from the COVID-19 pandemic and geopolitical tensions.

The 2022 report identifies four archetypes of clients leveraging digital business enablement services: Traditional, Consumer-Driven, Purpose-Driven, and Pioneering Enterprises, each with distinct focus areas and needs.

Notably, leaders like Accenture and IBM are recognized for their capabilities across multiple archetypes. The detailed evaluation is available for subscribers and one-time purchase.