Preface Thank you for joining us to learn more about the Top 5 Digital Transformation strategies you can use to unlock prosperity in 2024. Nearly all clients are seeking greater prosperity in 2024. While the demands of the business are increasingly focused on innovation, automation, and organizational performance improvement, client organizations are still focused on cost reductions to meet the new economic and market realities. We foresee a volatile and unpredictable business landscape predicated on geopolitical tensions, economic uncertainty, and continued supply chain disruptions as client organizations continue to diversify their ...
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This will be a tough year for many in the IT industry as companies are challenged on many fronts. However, for those with the fortitude and the right partners - it can also be a transformational year for forward thinking strategic companies. Our Top 3 Market Messages for 2023: 1. Clients are Clamoring for Savings in 2023. What we know - this has largely been brought on by several factors. First, since 2020, with few exceptions, clients have largely been suffering from... rising input costs, and softening business forecasts and the economic outlook for 2023 is dire at worst, and gloomy at best. This is causing many clients to re-evaluate ...
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Introduction Many of you will remember last year’s very successful blog regarding the Top 10 India-Based IT Services Companies for 2022, where Mphasis was rated as the #1 overall performing “India-Based” IT Services Company. We decided to expand the focus this year beyond “India” to include the rest of the world, and while India remains a critical region for offshoring talent, and certainly India-based firms are disproportionately represented in the analysis, the India-based firms are also competing (and winning) head-to-head with the global elite, so there is no reason why we can’t measure them in the full context of the highest demands of ...
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At the forefront of a global recession, where business forecasts are softening, but input costs continue to increase, clients are thinking about ways they can lower the burden without damaging their businesses and are turning again towards IT cost reductions as the preferred strategy as cost savings often come with no diminution of business value. Read our recent article, “The #1 Thing CEOs Can Do to Prepare for the Global Recession” for more context. Increasingly, in the pursuit of IT Cost Savings, clients are looking for professional assistance to figure out how best to help them save. Our industry sub-segment of IT Cost Reduction ...
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The pace of change today is to say the least – breakneck. Leveraging tech to get closer to your customers, drive revenue, and increase margin (i.e., save money) is at the forefront of initiatives for most companies. At the same time, layer in the levels of complexity in understanding every supplier’s value add in that mission, along with each having their own rules for pricing, agreement frameworks, and legal terms, it’s no wonder companies frequently have sub-optimized supplier agreements, investments, and relationships. One area that I have focused on in the last three decades specifically, is Microsoft. I’ve negotiated and reviewed ...
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As we've been saying for months, post (hopefully) pandemic Market Conditions are ripe for you to act in driving business value into your company. If you've ever dreamed of being the budget hero, this is it. With the tumult in the supplier marketplace around M&As, shifts of products to the cloud, small company disruptions, the supplier competition has never been as robust. Once you digest the list below and want more, we're happy to talk. There's nothing we like better than chatting about how to get more value from technology suppliers - especially now. Big Software SAP Nearly 100% of SAP deals come due in December. This is driven by ...
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‘The Most Wonderful Time of the Year’ is a popular holiday song and was written by Edward Pola and George Wyle in 1963. It was popularized in North America by singer Andy Williams that same year on his television show by the same name. However, we didn’t have to do much research to learn that the inspiration for that song had nothing to do with the 4th quarter for most business leaders and their respective companies. Anecdotally, we believe most business leaders might say it’s the most *stressful* time of the year, especially for publicly traded companies – most of whom have their fiscal year end aligned with the calendar year end of ...
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Like a party no one wanted to go to, the COVID pandemic dragged many IT Executives into (over) spending on technology that was not planned for. In the frenetic pace to ‘keep the lights on’, expenditures were made without the scrutiny they may have normally received pre-COVID. Supporting all the work from anywhere (WFA) initiatives including conferencing, PCs, and remote access software and hardware were all added to the mission critical initiatives already underway, like digital transformation and cloud migrations siphoning money away from those other priorities. As you start planning for your 2022 budgets, you may just now be realizing and ...
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Inflation impacts the cost of nearly all your supplier agreements. Look closely at your IT agreements (especially your Cloud agreements). Even though the cost of technology goes down over time, and technology advancements make processes less manual, less error prone, less expensive, and more automated, many of your agreements still have antiquated clauses allowing your suppliers to *increase* your costs on an annual basis by an amount equal to the Consumer Price Index (CPI) amount, and generally include an accelerator above that amount; something like CPI + 3%, which would provide a contractual right of your supplier to increase your costs ...
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The IT landscape in Financial Services is changing rapidly. Regardless if they want to be industry leaders, fast followers of reactors, the ever-spreading cost base for Financial Services Companies leaves less budget available for capital investments in new technology, driving a vicious cycle of increased operating cost. In the drive to enact transformational change, Financial Services Companies should seek out the benefit from low hanging fruit to reduce current Opex. According to a PwC Global FinTech survey, 81% of CEOs are concerned about the speed of technology change, which is more than any other industry sector. Thousands of startups ...
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