Information Services Group, Inc. - III STOCK NEWS

Information Services Group reported a record EMEA Q1 combined ACV of $7.5 billion, a 21% year-over-year increase. Cloud services demand surged 44%, reaching $3.9 billion, now comprising 51% of the market. Managed services ACV rose 3%, totaling $3.7 billion, but IT outsourcing fell 11%. With 256 contracts awarded, new-scope deals hit $2.3 billion, marking a six-quarter trend. The UK market saw significant growth, while forecasts for cloud XaaS are optimistic at 22% growth for 2022.

ISG Provider Lens™ report indicates that Australian enterprises are increasingly seeking support for procurement transformation amid challenges caused by the COVID-19 pandemic. Many firms face heightened risks due to poor procurement capabilities. The report suggests a shift toward BPO services as organizations aim to optimize operations. Notably, Accenture, IBM, and Infosys are recognized as Leaders in this space. The demand for sustainable procurement is also rising, although Australia lags behind the U.S. and Europe in this regard.

Information Services Group reports a record global combined ACV of $24.2 billion, up 31% year-over-year. The XaaS market reached $15.6 billion, marking a 43% increase, while managed services grew 13% to $8.6 billion. ISG forecasts 22% growth for XaaS and 5.1% for managed services in 2022. The report highlights rising enterprise costs and IT talent shortages affecting pricing and project execution. Notably, IaaS spending surged 51%, but Chinese hyperscalers saw a 15% sequential decline.

Enterprises in Singapore and Malaysia are set to transform their procurement operations as highlighted in the 2022 ISG Provider Lens™ report. Following pressures from the pandemic, companies are increasingly seeking outsourcing and transformation services to enhance efficiency and sustainability. The report notes that outdated procurement systems hindered performance before the pandemic and now compel enterprises to shift towards digitization and centralized solutions. Notably, Accenture, GEP, IBM, and Infosys are recognized as leaders in this domain.

Information Services Group (Nasdaq: III) released the 2022 ISG Provider Lens™ report highlighting advancements in procurement software. These innovations enable enterprises to enhance procurement efficiency and sustainability. The report emphasizes that automation and AI are critical for transforming procurement processes, especially for midmarket firms facing resource constraints. It evaluates 29 providers, naming Corcentric, GEP, Ivalua, JAGGAER, SAP Ariba, and Tradeshift as Leaders in the respective quadrants.

ISG's latest report highlights a shift in how global enterprises approach procurement due to COVID-19 disruptions. Over half of large and midmarket companies are considering business process outsourcing (BPO) or transformation in the next 24 months. The report emphasizes that BPO can lead to higher efficiency and cost reduction. Leading providers in the sector include Accenture, Genpact, and Infosys. Additionally, companies like Corbus and WNS Denali are recognized as Rising Stars, indicating significant future potential. Customized reports are available for detailed insights.

ISG’s Provider Lens™ report details how U.S. enterprises are leveraging Salesforce-based AI and analytics to enhance customer and employee experiences, driven by pandemic-driven shifts in operations. The report introduces a new quadrant for implementation services for analytics solutions on Salesforce. Key findings include the recognition of 42 service providers in six quadrants, with Persistent Systems emerging as a Leader in four. Companies are focusing on automation and personalized interactions to adapt to post-pandemic demands. The report underscores the importance of integration capabilities.

Information Services Group (Nasdaq: III) has been recognized for the third consecutive year as a 'Great Place to Work' by the Great Place to Work® Institute. The ISG Center of Excellence in Bangalore, India employs over 500 individuals providing vital support services. The certification is based on the Trust Index© employee survey, assessing trust, fairness, and workplace culture. ISG CEO Michael P. Connors highlighted the team's productivity, attributing part of the firm's success to the Bangalore team's efforts in addressing rising client demands.