The year 2020 poses unique challenges to companies as the coronavirus (COVID-19) outbreak continues to disrupt businesses on a global scale. Organizations that leverage technology and digital initiatives are better equipped to weather this crisis. International consultancy firm PwC underscores the need for a flexible, resilient, and responsive crisis management plan that maximizes technology.
Although businesses are expected to cut on their IT spending due to the economic downturn, continuous IT support and services are necessary to maintain their technologies. According to the Technology Services Industry Association (TSIA), 76% of managed service providers (MSPs) believe that this crisis may actually pump up demand.
It is crucial for companies to have a responsive IT system, especially as doing business is pushed to cyberspace due to widespread quarantines, adoption of remote work, and the need for in-store alternatives. This is where managed IT companies come to the picture.
Managed IT companies to fill up the gaps in internal expertise. In recent years, we’ve seen how the industry has grown by leaps and bounds. According to Statista, the global managed services market is expected to reach $200 billion by 2020 and is set to grow by 11.5 percent annually.
MSPs offer reliable, scalable, expertly managed, and subscription-based solutions that enable businesses to boost their tech capabilities while focusing on their core functions. As businesses navigate the unchartered territory brought by the pandemic, they stand to benefit from managed IT services. A specialist at Firewall Technical emphasized some of the advantages of MSPs that include increased competitiveness and efficiency, mitigate risks, boost security and data privacy, ensure compliance, reduced labor costs, quick deployment of new technology, and meet day-to-day technology needs. Furthermore, considering the shortage of tech specialists, managed services is a strategic approach to meet the computing and IT challenges faced by businesses this 2020.
The global managed services industry is dominated by major tech companies. Here we take a look at the ten leading managed service providers as ranked by consulting and research firm the Everest Group.
With installations in more than 120 countries and served by around 505,000 tech specialists, Accenture is underpinned by its vast, unparalleled delivery network. The company offers a comprehensive list of products, solutions, and services that cater to all tech needs of its customers from various industries.
As a pioneer professional services company, Accenture banks upon the combined expertise and specialized skills of its manpower. The company aims to make technology work for businesses, thereby ensuring success and creating sustainable growth.
Tata Consultancy Services (TCS)
A subsidiary of the giant Indian multinational conglomerate Tata Group, TCS is a global leader in the IT sector. TCS has a wide network of hubs composed of around 149 locations spread across 46 countries. It employs around 450,000 workers that serve its service lines.
The company, along with its subsidiaries, offers a comprehensive list of IT services, products and solutions that include software development and maintenance, IT infrastructure services, cloud infrastructure, automation, and AI, consulting, enterprise solutions, business process outsourcing, and engineering and industrial services.
Although TCS is focused on providing IT support to call centers, it is also known for developing highly innovative digital solutions for various industries. A specific example is its machine-learning-powered software that can simultaneously monitor thousands of security cameras to filter images. Backed by strong market demand, TCS revenue is expected to reach $22 billion this 2020.
Cognizant is a global professional services company. It aims to equip its clients with capabilities to stay competitive in the digital era and evolve into modern businesses. The company offers a range of tech products and services such as digital engineering, AI, IoT, and cloud.
Supported by nearly 300,000 associates in 37 countries, Cognizant ensures that clients don’t suffer unplanned downtimes and other disruptions in their IT system. What’s unique about Cognizant is its focus on hybrid models that leverage the advantages of both the digital and physical networks. This is in contrast to most MSPs that push for migration to digital and cloud.
In 2019, Cognizant posted $16.8 billion in revenue. While the company remains optimistic, it has scaled back its forecast for this year due to the uncertainties caused by the coronavirus.
Perhaps one of the most diversified companies in the list, Wipro offers not just managed services but also business and home automation. It aims to build responsive “business-anywhere” frameworks for businesses which will enable them to adapt to the new normal.
The India-based multinational corporation is manned by over 175,000 employees and operates across 110 countries. Since it entered the technology business in 1981, it has consistently earned accolades for its services.
This French multinational corporation offers a comprehensive list of technology services, digital transformation, and engineering services. With over 50 years in the industry, Capgemini is equipped with the necessary expertise, technology, and capabilities to help businesses with their tech needs.
In 2019, the company posted a revenue of €14.12 billion. Their operation is spread across 50 countries and is manned by over 270,000 associates.
HCL Technologies is an India-based multinational IT service and consulting company. With nearly 150,000 employees stationed in over 44 countries, they provide tech solutions to various industries. In 2019, company revenues reached $9.93 billion.
The IT outsourcing company caters to various industries such as banking, healthcare, industrial, telecom, logistics, and many more. Its diverse business lines include app services and systems integration, business services, research and development services, IoT, and cybersecurity, among others,
Another global leader in the tech industry, the Big Blue, offers one of the most comprehensive technology services and products. They produce and sell software, hardware, and an array of IT-related services. And aside from providing services, the New-York based technology company offers skills and training programs that keep tech professionals up-to-date with the latest technologies.
Having been in the industry for over a century now, IBM has continually shifted business operations in line with the rapidly changing tech needs. Today, the company is manned by around 350,000 employees in over 170 countries. In 2019, it posted revenue of $88.14 billion.
Infosys is a well-known managed IT company that has built its name by providing next-generation IT initiatives and digital services.
It has operations in over 46 territories and manned by nearly 200,000 employees. Infosys continuously invests in its digital talent, which boasts of agile-able employees ready to assist clients. In 2019, the company netted $12.7 billion total revenue.
Specializing in business-to-business IT services, DXC is a relatively new entrant in the market. It provides IT services to global companies, helping them with critical systems and operations. DXC also specializes in ensuring scalability and security, optimizing data architecture, and modernizing IT.
The American multinational corporation serves over 6,000 clients (from public and private sectors) in over 70 countries. It has nearly 138,000 employees and an extensive partner network. In 2019, its revenue topped $20.75 billion.
The only Japanese company to make this list, NTT Data Corp. offers IT solutions and services to help clients simplify, navigate, and modernize their business technologies. It also offers insights through IT consulting. NTT Data has deep industry expertise that ranges from business process services, applications and infrastructure. In 2012, the Tokyo-based company ranked 5th largest IT services company according to Forbes Global 2000.
NTT Data has a global network of operations in over 40 counties with around 120,000 employees. The IT services firm forecasted revenue for 2020 is set at $20.4 billion.
The rapidly evolving technologies make it vital for businesses to equip their operations with IT expertise. This is, even more, pressing this 2020 as technology becomes a necessity due to the disruptions brought by the global health crisis. Collaboration with reliable managed IT companies is crucial to stay ahead of the competition.
Although the market is dominated by major IT companies, there are numerous local providers that offer the same level of expertise, services and reliability. These managed IT companies can help you address a wide range of technology needs.