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*NEW RESEARCH* UK Insurance SITS Suppliers, Trends and Forecasts 2024
Many insurance companies enjoyed a stable and profitable 2023, despite the wider economic malaise. The impact of the global downturn did however see insurers maintain a cautious approach to new and discretionary spend. Whilst SITS expenditure did continue to grow in 2023, it was at a much reduced rate compared to the previous year. Eight […]
Microsoft and CCS sign new public sector pricing arrangement
Microsoft and the Crown Commercial Service (CCS) have signed a new agreement that will enable eligible public sector organisations to access cost savings across Microsoft’s suite of productivity apps and cloud services. CCS first agreed a pricing arrangement with the company in 2020, providing beneficial terms for public sector organisations to use Azure Cloud Services. […]
Mastek Q2: $100m quarterly revenue milestone
In its Q2 2025 (to end September 2024), Mastek has reported improvements on several fronts compared to its previous quarter (see Mastek Q1: Solid revenue growth and squeezed profits). Alongside stronger year-on-year revenue growth—of 13.3% to Rs 867 crore (compared to 12.1% in Q1)—Mastek also reported a stronger operating margin for the quarter—of 16.5% (an […]
HCLTech speeds up a little in Q2
Second quarter results from HCLTech saw the firm accelerate a little in Q2. First quarter year-on-year growth was 5.6% (constant currency), but this increased to 6.2% for the three months to end September 2024 (to $3.44bn). The firm also returned to quarter-on-quarter growth after a decline of almost 2% in Q1 over Q4. Combined growth […]
FCA launches an AI Lab
Highlighting the transformative effect that AI technology is expected to have on the financial services sector, regulator the Financial Conduct Authority (FCA) has revealed the next step towards developing better governance. In a speech delivered at an FCA Innovation 10th anniversary event, the regulator’s Chief Data, Information and Intelligence Officer, Jessica Rusu announced the creation […]
Europe remains a challenge for LTIMindtree
Continuing resilience in North American demand during Q225 helped LTIMindtree to build on its positive start to the financial year (see here). A 7% yoy increase in revenue from the region during the three months ended 30th September underpinned the firm-wide top line improvement of 4.4% at constant currency for the period. This performance both […]
Tech Mahindra ticks up
Having returned to sequential growth in Q125 (see here), Tech Mahindra’s “turnaround year” took another step forward in the second quarter. The period saw the firm deliver a yoy revenue increase for the first time since Q423. Company turnover for the three months ended 30th September rose by 0.7% qoq and 1.2% yoy at constant […]
IBM releases Granite 3.0 AI models
IBM has announced the release of its most advanced family of AI models to date, Granite 3.0. The new models are designed as ‘workhorse’ models for enterprise AI, delivering strong performance for tasks such as Retrieval Augmented Geneneration (RAG), classification, summarisation, entity extraction, and tool use. They are relatively small models (8bn and 2bn) in comparison […]
Bytes benefits from Public Sector successes
Earlier this week, Bytes Technology Group released its first half results showing Gross Invoiced Income (or GII – a key metric for resellers) growth of 13.7% to £1.23bn. Operating profit margins increased from 40.6% to 43.4%. The firm gave a preview of its performance back in September. GII growth came primarily from software, and by […]