Information Services Group, Inc. - III STOCK NEWS

The 2021 ISG Provider Lens™ Mainframe Services & Solutions Report reveals that U.S. enterprises are increasingly interested in modernizing mainframe operations to boost agility and reduce costs. With a growing shift towards mainframe-as-a-service (MFaaS), companies can save 10-25% in costs. The report highlights that major organizations, including 92 of the top 100 banks, utilize IBM Z systems. However, many still cling to outdated myths regarding cloud capabilities. Key players like Atos, Capgemini, and IBM have been recognized as leaders in mainframe services.

Information Services Group (III) announced the initiation of a quarterly cash dividend of $0.03 per share, payable on June 18, 2021, to shareholders of record as of June 4, 2021. The company expects to maintain this dividend amount for the third quarter, with a total of $0.12 projected for the fiscal year ending March 2022. The decision reflects ISG's strong cash flow, reporting $44 million for 2020 and $12 million in Q1 2021. This marks the company's first dividend in 15 years, emphasizing its commitment to shareholder value and capital allocation strategy.

Information Services Group (III), a global technology research and advisory firm, reported record fee revenues for Q1 2021, totaling $66.6 million, marking a 4% increase year-over-year. Notably, fee revenues excluding reimbursable travel expenses rose 7%. The CEO highlighted a burgeoning demand for digital transformation post-COVID-19, aided by ISG's innovative operating model. A significant milestone includes a new automation contract valued at over $10 million. The company continues to experience improved margins and client growth opportunities.

According to a new report by Information Services Group (III), U.S. insurance companies are rapidly adopting digital technologies in response to operational disruptions caused by COVID-19. The report highlights that both life and retirement (L&R) and property and casualty (P&C) insurers are undergoing digital transformations at varying stages. Outsourcing business processes has become a crucial strategy for enhancing agility and efficiency, allowing insurers to leverage advanced technologies like robotic process automation (RPA) and artificial intelligence (AI), while improving customer experiences and data security.

ISG (Nasdaq: III) emphasizes the importance of enhancing customer experience in the banking, financial services, and insurance sectors during its upcoming TechXchange event on May 18-19. Experts will discuss digital transformations aimed at improving service personalization and operational efficiency. Keynote speakers include leaders from First Horizon Bank and Alliance Data Systems, focusing on evolving customer interactions and digital engagement strategies. The event will also feature discussions on the impact of hybrid work environments and data utilization in insurance, alongside startup pitches aiming to foster innovation.

Information Services Group (III), a global technology research and advisory firm, announced the retirement of CFO David Berger after nearly 12 years. Humberto 'Bert' Alfonso has been appointed to succeed him, effective June 7. Berger will assist in ongoing M&A projects during the transition. Alfonso brings over 30 years of experience, including executive roles at Hershey and Cadbury Schweppes, and has a proven track record in driving growth through M&As. The changes aim to support ISG's growth coming out of the pandemic, with Alfonso expected to enhance financial and legal affairs.

Information Services Group (ISG) (Nasdaq: III) has launched two research studies focusing on technology tools and services for the contact center industry. The findings will be published in two reports, Contact Center – Customer Experience Services and Contact Center as a Service, in September. These reports will help enterprise buyers assess vendor relationships and recommend providers, particularly in the wake of increased digital engagement during the pandemic. The studies involve surveys with over 70 service providers in total, covering key areas like AI and analytics and work-from-home services.

Information Services Group (ISG) (Nasdaq: III) has launched real-time data feeds for its ISG GovernX® platform, enhancing vendor compliance and risk management. This innovative solution integrates contract management with risk monitoring, allowing clients to assess risks proactively. The platform now covers over $46 billion in supplier contracts, with a 90% increase in enterprise subscriptions in 2020, facilitated by the COVID-19 pandemic. The upgrades aim to address diverse risks in increasingly complex provider ecosystems, ensuring robust oversight and efficient management of supplier relationships.

The latest ISG Index report highlights significant demand for cloud-based services in the Americas, recording $5.2 billion in ACV for Q1 2021, an 11% increase year-on-year. This growth is largely driven by a 14% rise in IaaS, reaching $3.5 billion, while SaaS grew by 5% to $1.7 billion. The overall as-a-service and managed services market reached $8.6 billion, up 6% from the prior year. Despite a slight decline in managed services, the report predicts an 18% growth for cloud-based services in 2021. Key cloud contracts were noted for major companies like Ford, Microsoft, and Google.