Information Services Group, Inc. - III STOCK NEWS

ServiceNow Adoption in Australia is accelerating as enterprises respond to COVID-19 and pursue digital transformation, according to a new report by Information Services Group (NASDAQ: III). The Australian market for ServiceNow services is outpacing global growth due to increased demand for new technologies. The report highlights competitive service offerings, with major players like Accenture, Deloitte, and Capgemini recognized as leaders. Despite this growth, challenges remain, including a global skills shortage.

Information Services Group (ISG) reported record revenues of $73 million for Q1 2022, marking a 12% increase in constant currency. Net income reached $5 million with GAAP EPS of $0.10 and adjusted EPS of $0.12. The firm also achieved a record adjusted EBITDA of $11 million, exceeding expectations. In a significant move, ISG raised its quarterly dividend by 33% to $0.04 per share, effective June 17, 2022. The company anticipates Q2 revenues between $73 million and $75 million.

The ISG Provider Lens™ report highlights the U.S. public sector's shift towards enhancing procurement systems, driven by challenges intensified by the COVID-19 pandemic. The report notes a surge in demand for procurement software and BPO services, with agencies seeking immediate operational improvements and cost reductions. It forecasts significant public-sector spending on these solutions this year, with potential first-year savings of 15-30%. GEP is recognized as a leader across all evaluated quadrants, while Accenture, IBM, and others excel in multiple areas.

ISG Provider Lens™ report highlights the growing transformation among German enterprises using ServiceNow workflow solutions as they adapt to disruptions like the pandemic. Despite established processes, companies are pursuing digital transformation for agility and resilience, particularly with new hybrid work models and cloud migrations. The report evaluates 29 providers in Germany and identifies leaders, including Accenture and Capgemini, across various ServiceNow quadrants. Customized versions of the report are available for purchase.

ISG Provider Lens™ report reveals that insurance carriers are increasingly leveraging outside providers for platforms and services to enhance competitiveness. The report highlights that COVID-19 has prompted insurers in Life & Retirement (L&R) and Property & Casualty (P&C) sectors to accelerate their digital transformations, adopting advanced technologies like AI and cloud computing. It categorizes clients into four archetypes: Transactional Services Buyers, Automation-Led Buyers, Transformation-Oriented Buyers, and Holistic Solutions Buyers, with notable providers including Cognizant and Accenture named as Leaders.

ServiceNow's Ecosystem Strengthens

According to the 2022 ISG Provider Lens™ report, U.S. enterprises increasingly seek unified platforms to manage business functions, with ServiceNow emerging as a leading solution. The report highlights challenges in managing multiple applications, rising costs, and security concerns. ServiceNow's growth is propelled by a robust partner ecosystem that targets industry-specific needs. The report evaluates 29 providers, naming top players like Accenture and Deloitte as Leaders across multiple quadrants, showcasing a promising future for the ServiceNow ecosystem.

Information Services Group (Nasdaq: III) has launched a research study on cloud-native services and solutions for containerized applications, to be published in the Cloud-Native Services and Solutions 2022 report in September. This report will help enterprises assess their vendor relationships, focusing on areas such as managed container services, cloud-native security, and observability tools. With input from over 200 providers, it will offer insights into the evolving cloud-native market, helping businesses navigate new challenges and opportunities in application management.