After the slowdown of 2023, 2024 promised to be the year of IT services reignition, particularly in the U.S. This scenario has not occurred. U.S. spending is only now on a recovery path in financial services and high-tech, with signs of improved discretionary spending. We expect 2025 to be a reversal of recent trends, notably in U.S. IT services spending, having lagged Europe desp[...]

  Global loan originations have declined since COVID and the trough of interest rates in April 2020. For example, in the U.S., loan originations fell from $4.51 trillion in 2021 to $1.50 trillion in 2023. Currently, interest rates in the U.S. are declining, and mortgage originations in the first three quarters of 2024 have increased by 9% over the prior year. The U.S. lending industry [...]

  Sopra Steria recently held its first Capital Markets Day. Following significant scope changes (including in Benelux and its defense & security sector business) and the sale of its Sopra Banking Software business, the company, now mainly an IT service pure-play, highlighted its strategic priorities. Its 2028 plan shared by management is consistent with previous announcements. T[...]

  We recently spoke to TCS about its proprietary integrated source-to-pay platform, TAPTM, which offers a modular solution across sourcing, contract management, purchasing operations, accounts payable, and supplier hub. This blog examines the use of AI and GenAI within TAP, the potential benefits, and its commercial models. Overview Key modular offerings and capabilities include:[...]

  In 2025, the financial services industry will continue to build out its AI, GenAI, cloud delivery, and process automation capabilities. NelsonHall’s recent survey of financial services executives identified that: Operational transformation is highly important to 92% of retail banking companies and 93% of commercial banking companies  Current operating models and pr[...]

  Compucom provides end-to-end digital workplace services for large and mid-size businesses, supporting 9m devices and handling 8m service desk contacts annually. Key capabilities include managed services, IT support, technology sourcing solutions, projects, and professional services. Recently, Compucom has enhanced these services by: Launching its Full Lifecycle Observability[...]

  NTT DATA Group recently held its virtual consulting day. In May, we reported on the new NTT DATA after its merger with NTT Ltd., the creation of NTT DATA Japan and Inc., and its priorities. At the time, we commented: “NTT DATA Inc. remains a quiet giant whose capabilities are not yet well-known” as NTT DATA’s management discussed how it had embedded its Business Con[...]

  In a significant development in the WFM and HCM markets, ADP has acquired WorkForce Software, a global provider of WFM solutions with integrated employee experience capabilities. The deal, estimated at $1.2bn, was finalized on October 15th. ADP is a publicly traded company, while Workforce Software is backed by Evergreen Coast Capital Corp., the technology-focused private equity arm [...]

  In a recent NelsonHall blog, we looked at the key themes and investments being made across digital workplace services. The overarching themes were employee experience, AI-enabled digital support services, sustainability, and digital re-skilling (read more here). For this blog, we spoke to NTT DATA’s digital workplace leadership team to understand its key focus and strategic roa[...]

  iQor began 2024 with a new CEO, Chris Crowley, and a funding boost by PE Mill Point Capital. iQor is now repositioning for growth, aiming to become a broad partner with existing clients and targeting new verticals. Earlier this month, I attended iQor’s Analyst Day 2024 in Trinidad, where the company is the largest BPS provider and has strong expansion plans. Solid foundation[...]

  I recently attended the Genpact AI conference, where the Genpact employees I spoke to were energized by the changes AI is bringing and are focused on helping clients operationalize emerging technologies at scale. The company is investing in tools to provide greater ongoing feedback from employees: an HR executive described how they use an employee feedback system combined with a bene[...]

  Virtusa recently briefed NelsonHall about how it conducts GenAI testing. With the emergence of LLMs, Virtusa has seen a rising interest in understanding how to validate them. However, testing LLMs is not easy, as traditional testing approaches are not relevant to LLMs. It requires reinventing software testing and looking beyond the output of a transaction. Non-Deterministic LLMs C[...]

  In 2024, WNS rebranded and relaunched its analytics practice to include data, analytics, AI services, and consulting in a unified offering to enable decision intelligence. I spoke with Gautam Singh, the head of WNS Analytics, covering the opportunities and pitfalls of GenAI solutions, the team’s vertical and domain focus, and the company’s vision for productized services.[...]

  In July, I published a blog outlining the latest evolving practices in core banking platform transformation. In this new blog, I outline Capgemini's approach to addressing core banking transformation challenges with its clients. The imperative of platform transformation Demand for core banking platform transformation continues to proliferate to enable banks to: Reduce[...]

  At its recent thought leadership forum, Confluence 2024, Infosys set out its roadmap for achieving a leadership position in AI services. Despite the hype in the marketplace, Infosys finds its clients are taking a thoughtful approach to implementing AI. Clients want to carefully evaluate the realistically achievable ROI if they bring a project to full operational deployment. Once t[...]

  NelsonHall recently attended T-Systems’ Digital X 24 event in Cologne, the flagship event of its parent company, Deutsche Telekom. T-Systems provided an overview of its key portfolio focus areas across the cloud, including sovereignty, digital solutions, AI, including GenAI, and its array of strategic ecosystem partners. T-Systems' headcount is ~26k, with Q2 2024 revenue[...]

  NelsonHall recently attended Dreamforce, the annual Salesforce flagship event in San Francisco. Billed as the largest AI conference in the world, Dreamforce 2024 saw a marketing push like none other, even by Salesforce’s standards, towards Agentforce, its new platform for creating autonomous AI agents capable of analyzing data, making decisions, and taking action. Agents built [...]

  At the Cognizant UK & Ireland analyst and adviser meet in London this week we were keen to get a closer understanding of three things: How some of the changes introduced since the arrival of Ravi Kumar S as CEO are making a difference to the company The factors underpinning this year’s revenue underperformance of Cognizant in the UK and Ireland, also any new go[...]

  Advanced technologies such as GenAI, ML, and NLP continue gaining momentum, yielding greater efficiency and savings across all areas of talent acquisition (TA). Vendors are becoming more expert in applying these tools, improving TA outcomes and candidate experience, reducing candidate bias, identifying resources at the highest risk of flight, and predicting a candidate’s cultur[...]

  Hitachi Digital Services recently held an Advisor & Analyst event in London. The company is rolling out its communication plan to increase client and industry awareness. It goes to market, selectively, with the larger Hitachi Group in the U.S. and U.K., targeting a few industries. So, who is Hitachi Digital Services? The mid-sized IT and ER&D services vendor spearheads Hit[...]