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Banking regulators are imposing stringent compliance directives. This has required banks to undertake time-consuming due diligence processes such as Know Your Customer (KYC). As a result, customers are experiencing longer processing times across banking services such as account opening and loan approvals. In addition, neobanks and fintechs are competing with traditional banks by offering more personalized products and add-on services. Customers now expect similar offerings from traditional banks as well, requiring them to reimagine their processes. Due to changing customer expectations and regulatory pressures, banks are seeking support from service providers to transform their operations. This has led to a 23% growth in services provider banking process transformation revenue between December 2020 and December 2021. These trends and others are covered in our new Banking Process Transformation 2022 RadarView™ .
The Banking Process Transformation 2022 RadarView™ assists banks and financial companies in identifying strategic partners for banking process transformation by featuring detailed capability and experience analyses of leading service providers. It provides a 360-degree view of key banking service providers across practice maturity, domain ecosystem, and investments and innovations, thus helping enterprises in evaluating leading players in the banking process transformation space. The 78-page report also highlights top market trends in the banking process transformation arena and Avasant’s viewpoint on them.
Two of the Larsen and Toubro (L&T) Group companies, L&T Infotech (LTI) and Mindtree, recently announced a merger to create what could be the sixth-largest Indian IT services provider in terms of overall sales, with a combined annual revenue of more than USD 3.5 billion as of March 31, 2022. The merged entity will be known as LTIMindtree Limited. In this Research Byte, we examine the nuances of the merger, analyze the benefits and challenges for the merged entity, and offer recommendations to enterprise buyers.
Enterprise leaders are feeling pressure to ensure transparency and alignment between third-party vendors, regulations, and internal controls, as well as the use of security frameworks to address the complex regulatory and privacy landscape. With the rising cost of IT audits and assurance programs, enterprises are looking to implement governance, risk, and compliance (GRC) tools and platforms that provide standardized frameworks to manage risks. In response, service providers have matured their offerings to support compliance with regulations such as GDPR, HIPAA, and PCI DSS to ensure that companies are aligned to industry standards. These emerging trends are covered in Avasant’s Risk and Compliance Services 2022 RadarView™.
The Risk and Compliance Services 2022 RadarView™ provides information to assist enterprises in charting out their action plan for developing a robust governance, risk, and compliance (GRC) program. It identifies key global service providers and system integrators that can help organizations expedite their GRC tool adoption journey. It also brings out detailed capability and experience analyses of leading providers to assist enterprises in identifying strategic partners for adopting a robust GRC framework. The 64-page report also highlights key industry trends in the risk and compliance space and Avasant’s viewpoint on them.
Our Fair Market Value (FMV) report provides data for the following categories of equipment: (1) IBM mainframe and midrange hardware and IBM peripherals; (2) Workstations, PCs, and servers from Compaq, Dell, HP, IBM/Lenovo, Lexmark, Okidata, Silicon Graphics, Sony, Sun, and Toshiba; (3) Network Communication gear from Cisco, Bay/Nortel, IBM, Intel, Lucent, and others. Fair Market Values are provided for end-user, wholesale, and orderly liquidation values (OLV) prices.
Although the healthcare industry has been slow in adopting digital technologies, the pandemic accelerated the need for healthcare providers to digitally transform their revenue cycle management (RCM) processes. The need for effective RCM is driven by the fact that healthcare providers are finding it difficult to maintain profitability. This is prompting the trend toward RCM outsourcing, which has increased by 15% year over year 2021–2022. The US government also plays a part in increasing RCM outsourcing, with more than $450 million in funding to promote telehealth among healthcare providers. Furthermore, RCM service providers are reacting to the increased government spending on insurance programs by developing specialized Medicare and Medicaid solutions. These trends are covered in Avasant’s new RCM Business Process Transformation 2022 RadarView™.
The RCM Business Process Transformation 2022 RadarView™ aims to help enterprises identify the correct RCM transformation partner by detailing service capability and offering a portfolio of leading providers in the healthcare space. It provides an all-encompassing view of key RCM service providers under three broad parameters of practice maturity, domain ecosystem, and investments and innovation. The 69-page report also highlights key industry trends in the RCM outsourcing space and Avasant’s viewpoint on them.
Enterprises adopt Salesforce to improve engagement with their customers by offering personalized services and integrating customer data across different touchpoints. It also helps companies manage their sales operations and monitor customer interactions at scale. Salesforce adopters are increasing their reliance on data-driven insights and cognitive technologies to improve customer lifetime value.
The Salesforce Services 2022 RadarView™ helps enterprises define their approach for Salesforce adoption and identify the right implementation partner to support them in their journey. It assesses implementation services providers based on their ability to offer services with limited disruption. The 70-page report also provides Avasant’s point of view on how Salesforce implementation service providers are catering to the changing needs of enterprises through a wide portfolio of accelerators and preconfigured solutions. We do so by evaluating service providers against a general ranking based on key dimensions of practice maturity, partner ecosystem, and investments and innovation.
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