Information Services Group, Inc. - III STOCK NEWS

Information Services Group (ISG) reported record fourth-quarter revenues of $74 million, exceeding guidance despite a $3.2 million negative FX impact. The company achieved a net income of $4 million and a GAAP EPS of $0.09. Full-year revenues reached $286 million, marking an 8% increase in constant currency. ISG declared a first-quarter dividend of $0.04 per share and amended its credit agreement, enhancing terms and extending maturity to February 2028. Guidance for Q1 2023 estimates revenues of $73-$75 million and adjusted EBITDA between $10-$11 million.

ISG Provider Lens released a report highlighting how Nordic oil and gas companies are leveraging digital technologies to enhance operations and sustainability amid challenges such as rising commodity prices, the war in Ukraine, and the need for decarbonization. The report notes significant capital investments in Norway's oilfields and the ongoing commitment to achieving net-zero emissions. It emphasizes the growing skills gap in the industry, driven by rapid technological change and a high retirement rate. Notably, Accenture and TCS are identified as Leaders across all service quadrants in the report.

ISG Center of Excellence in India has been recognized for the fourth consecutive year as a Great Place To Work by the Great Place To Work® Institute. This certification reflects high employee trust levels, with over 700 staff providing vital support services in Bangalore. The certification process involved a Trust Index© Assessment and a Culture Audit© evaluation, achieving over 70% positive responses. The ISG India team recently celebrated a new office launch in Bangalore, promoting modern hybrid work styles. ISG is known for its significant global presence in technology research and advisory services.

Information Services Group (Nasdaq: III) recently announced the winners of the 2023 ISG Paragon Awards ANZ, recognizing innovative technology approaches that drive business success. A total of 57 nominations were evaluated by independent experts, culminating in an awards gala on March 2, 2023. Key winners included Versent with Colonial First State for Excellence, Capgemini for Innovation, and Hexaware Technologies for Transformation. The event highlighted advancements in digital technology and operational models, emphasizing ISG's commitment to fostering innovation in the technology services sector.

Oil and gas companies in North America are urged to enhance their digital capabilities, according to a new report from ISG. The report highlights that volatile prices, the Ukraine war, and decarbonization are driving the need for investment in digital technologies. The industry currently faces challenges due to an aging workforce and infrastructure. ISG emphasizes the importance of data analytics and green energy adaptation. It identifies key players in the market, naming Accenture, Capgemini, and Deloitte as leaders across multiple service areas. The demand for skilled workers remains high, complicating the transition to digital solutions.

Information Services Group (Nasdaq: III) has launched a study focused on finance and accounting outsourcing services to enhance enterprise efficiency through digitization, automation, and analytics. The findings will be published in the ISG Provider Lens™ report in July. This report will assist enterprise buyers in assessing vendor relationships and service offerings, aiding in informed decisions. Current market conditions, including inflation and potential recession, are driving the need for agile financial operations. Key outsourcing areas include Procure to Pay, Order to Cash, Record to Report, and Financial Planning and Analysis.

Enterprises in the U.K. are significantly investing in analytics to enhance decision-making based on data, as highlighted in the recent ISG Provider Lens™ report. The report identifies a shift in focus from data management to achieving real-time insights and effective decision-making through embedded analytics and business intelligence platforms. Despite many organizations being in early data maturity stages, the adoption of analytics tools is expected to surge further. New data governance needs arise from Brexit and evolving regulations, prompting organizations to enhance compliance and security.

Enterprises in the U.S. are increasingly investing in analytics platforms, according to the 2022 ISG Provider Lens™ report. The shift is driven by the need for real-time data insights in a competitive landscape with disruptive startups. Companies are focusing on embedded analytics and data governance tools to ensure data quality and reliability amidst rising cybersecurity risks. In 2023, the demand for analytics platforms is expected to grow as firms empower more employees to utilize data for informed decision-making. The report also highlights significant players in the sector, including IBM and Qlik, recognized as leaders in embedded analytics and data governance.