LOS ANGELES, OCTOBER 8th, 2020
Avasant today unveiled its RadarView™ market assessment covering the Digital Services space for Gulf Cooperation Council (GCC) region. The RadarView™ report recognizes the top 14 providers supporting the GCC region in digital transformation. These 14 providers have shown mature capabilities and consistent growth in their service offerings. Providers have been assessed across three key dimensions – practice maturity, investments and innovation, and ecosystem development. The report categorizes the top Leaders, Innovators, Disruptors, and Challengers as follows:
Leaders: Accenture, HCL, IBM, TCS, Wipro
Innovators: Cognizant, Infosys, Tech Mahindra
Disruptors: Capgemini, Coforge, DXC, Intertec
Challengers: Alpha Data, Emitac Enterprise Solutions
Download the 120–page report here.
Srinivas Krishna, Managing Partner, Avasant UK, and EMEA, congratulated the winners noting, “Digital technology is fundamentally transforming the face of businesses, governments, and societies worldwide. In the GCC, it is fueling diversification from its traditional oil-based economy, driving employment and growth through new-age businesses whilst enabling legacy businesses to leapfrog into newer business models. It has also been pivotal for enhancing the engagement between government and society to effectively deliver public services. This is reinforcing the region’s position as a global economic powerhouse. Service and technology providers in the region will continue to play a pivotal role in transforming the region to better position it for the digital world.”
The GCC countries are trying to reduce their dependence on oil and diversify their economies. Digital transformation is a catalyst for this economic diversity. These countries have established initiatives geared to accelerating innovation and realizing economic growth. Avasant GCC Region Digital Services RadarViewTM 2020-2021 Report addresses GCC enterprises’ needs and helps them identify and adopt the right technologies combined with appropriate implementation strategies. It also identifies the key service providers and system integrators that can help these enterprises in business transformation.
Some of the key findings from the report include:
- Already on their path to modernization, GCC countries have implemented structural reforms to diversify their economy. The reforms enable these countries to attract foreign investment, reform business environment, facilitate labor mobility, and diversify revenue sources.
- Economic diversification and modernization are further strengthened by each GCC country’s adoption of nationwide digital programs and the deployment of 5G technologies to build foundations for digital growth.
- The reformed business environment, created through the instituted policies and initiatives such as the implementation of data security laws, permission of 100% foreign ownership, exemptions from corporate and income taxes, etc., has exposed the local companies to global disruptions.
- BFSI and the public sector lead in digital adoption in the region, accounting for 20% and 18% of the active digital projects, respectively. They are followed by the travel and utilities sector accounting for 15% and 13% of the active digital projects.
- Global system Integrators have increased focus on the region over the last decade. With the government pushing for localization, these providers are increasingly hiring local talent. 1.25X growth is seen in local headcount for digital services delivery in the GCC over the last 12 months.
Avasant’s Senior Analyst, Amrita Keswani, added, “As GCC enterprises face unprecedented challenges posed by market disruptions from global firms in the region, they need to gauge the potential value that the digital adoption could generate in re-inventing them. It has become imperative for these firms to take collaborative action by partnering with the right service provider who understands the challenges on their digital journeys and provides them with comprehensive services and solutions, and domain expertise and experience.”
Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world’s largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client–based solutions.
Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant’s next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.
Avasant’s engagement in the global market has inspired a strong commitment to community and purpose. Avasant Foundation supports technology and skill development programs to create employment opportunities for youth across Africa, Asia, the Caribbean and Latin America.
For more information, visit https://www.avasant.com.
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