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Information Services Group, Inc. (Nasdaq: III) is a renowned global technology research and advisory firm headquartered in Stamford, Connecticut. Established in 2006, ISG has rapidly evolved to become a trusted business partner to over 700 clients worldwide, including 75 of the world's top 100 enterprises. The company's core mission is to assist corporations, public sector organizations, and service and technology providers in attaining operational excellence and accelerated growth.
ISG specializes in a broad range of digital transformation services such as automation, cloud and data analytics, and sourcing advisory. Additionally, the firm offers managed governance and risk services, network carrier services, technology strategy and operations design, change management, market intelligence, and technology research and analysis. With an employee base of over 1,300 professionals across more than 20 countries, ISG's global team is celebrated for its innovative thinking, market influence, deep industry and technology expertise, and exceptional research and analytical capabilities.
The company's operations are predominantly divided into three geographical segments: the Americas, Europe, and the Asia-Pacific, with the majority of its revenue coming from the Americas. ISG provides fact-based sourcing advisory services and has carved a niche for itself as a leader in this domain.
Recent achievements include strategic partnerships with several key technology providers, driving collaborative innovation and delivering enhanced value to clients. ISG's latest projects focus on leveraging advanced technologies to streamline operations and foster business growth for its clients. The firm’s commitment to innovation and excellence has been a driving force behind its sustained growth and industry leadership.
For the latest updates and detailed information on ISG's performance, events, and developments, investors and stakeholders can explore the most recent news and announcements from the company.
Enterprises in Germany are accelerating business automation efforts, as highlighted in the recent ISG Provider Lens™ report. The pandemic has driven a shift towards digital transformation, with a notable focus on technologies such as Conversational AI, Intelligent Document Processing, and process discovery. Despite advancements, companies face challenges in integrating these technologies and maintaining data security. The report evaluates 58 providers, naming UiPath as a Leader in two quadrants, while several others are recognized for their potential. This trend indicates a growing demand for automation platforms to enhance operational efficiency.
ISG Provider Lens™ report reveals challenges facing European insurers amid ongoing crisis conditions since 2020. The report highlights increased demand for services to modernize technology and adapt to changing regulations and consumer expectations. Notably, rising claims during the pandemic, coupled with issues such as inflation, geopolitical uncertainties, and climate-related damages, have contributed to a state of 'permacrisis' within the industry. Insurers are seeking providers with expertise in consulting and transformation, while also facing a significant skills shortage exacerbated by Brexit. The report evaluates 33 providers, naming Accenture, Cognizant, and TCS as Leaders in all quadrants.
AWS is enhancing its training programs to bolster its developer ecosystem, according to the 2022 ISG Provider Lens™ report. This report highlights that AWS continues to lead as the most-used public cloud provider in the U.S., with 70% of U.S. public cloud customers utilizing its services. The training initiatives are addressing the skill gap in cloud resources, making AWS more competitive against Google and Microsoft, which are also advancing their cloud offerings. The demand for AWS consulting and managed services is growing, especially in large enterprises, driven by a surge in cloud adoption.
The global IT and business services market faced challenges in Q4, primarily due to decreased demand for infrastructure-as-a-service driven by lockdowns in China. According to ISG, the total annual contract value (ACV) for Q4 reached $22.9 billion, down 7% year-over-year. Managed services saw a slight growth of 2% to $9.3 billion, while the as-a-service market experienced a notable decline of 12%. Despite these setbacks, ISG forecasts a growth rate of 17% for XaaS and 5% for managed services in 2023, citing potential improvements in the economic landscape.
U.S. insurance companies are increasingly outsourcing services to improve efficiency and customer satisfaction, driven by challenges from the COVID-19 pandemic, inflation, and evolving customer needs, according to the ISG Provider Lens™ report. Insurers are leveraging digital technologies and collaborating with service providers to create personalized products and adapt to new market dynamics. The 2022 report evaluates 50 providers and identifies leaders like Accenture and Cognizant across various service categories. These partnerships are crucial for enhancing operational capabilities and responding to rising consumer expectations.
Information Services Group (III) has launched a study on digital engineering services aimed at enhancing product development and support within enterprises. Scheduled for release in April 2023, the findings will inform buyers about vendor relationships and available offerings. The report includes four quadrants: Design and Development, Integrated Customer Engagement, Platforms and Applications, and Intelligent Operations. The research reflects a growing trend towards digitization, as companies strive for quicker, cost-effective product lifecycles.
State and local governments in the U.S. are increasingly outsourcing their IT modernization efforts due to staffing shortages and financial constraints, as highlighted in the latest ISG Provider Lens report. The report reveals that many agencies are migrating their Oracle implementations to the cloud to improve efficiency and data sharing. With ongoing labor shortages exacerbated by the COVID-19 pandemic, external service providers are becoming essential for these transitions. Enhanced data management and security against cyber threats are also critical considerations during this modernization process.
According to the latest ISG Provider Lens report, Swiss banks are undergoing significant digital transformations to compete with emerging fintechs and tech giants like Google and Amazon. Established banks are diversifying their partnerships beyond traditional IT service providers to meet the demands of tech-savvy customers. The report highlights the importance of modernization, governance risk compliance, and innovative payment solutions. Notable leaders in this space include Accenture, Capgemini, and IBM. The shift towards integrated risk platforms and real-time payment capabilities underlines a critical evolution in the Swiss banking sector.
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