Domain expertise is increasingly critical to IT services vendors. Aite Group urges vendors to take advantage of the recession to boost their talent bench.
A new report from Aite Group, LLC analyzes the market position of 21 IT services vendors in the securities and investments (S&I) vertical. Based on data collected by Aite Group between February and May 2009 from 21 technology vendors offering IT services to the S&I industry, the report provides a mapping of IT services vendors according to the scope of their IT offerings, geographic reach and depth of domain expertise.
While opportunities for IT services providers will remain depressed through 2010, opportunities exist for service providers that can demonstrate deep domain expertise. While technology budgets among S&I clients have been down roughly 5% in 2009, the allocated share to third-party service providers – frequently the first piece of the budget cut – is much lower. Providers that cannot demonstrate deep domain expertise may find themselves struggling against those that can. Aite Group urges vendors to take advantage of the recession to boost their talent bench.
"For 2010, Aite Group expects technology budgets to remain largely flat, but there are certainly areas in which firms will turn to IT services providers for assistance in getting to market and creating opportunities for vendors," says Adam Honoré, research director with Aite Group and co-author of this report. "Firms must be mindful of IT service providers’ domain knowledge when vetting potential partners. Service providers must demonstrate strength in this important area in order to capitalize on the scant business opportunities available in today’s market environment."
The report maps 21 participating IT service providers in a number of areas including domain expertise. These vendors are: Cap Gemini, Cognizant, CSC, Exigen, Fiserv, HCL, Infosys, Jack Henry, L&T Infotech, Mastek, Neoris, NS Solutions, Oracle, Patni, Polaris, Sapient, SunGard, Syntel, TCS, Unisys and Wipro.
This 67-page Impact Report contains 49 figures. Clients of Aite Group’s Institutional Securities & Investments and Wealth Management services can download the report by clicking on the icon to the right.
Related Aite Group Research:
* Asset Management Business and Technology Priorities: Survey 2009
* IT Services Vendors in Banking: Facing-Off Against Core Banking Processors
* 2009 Capital Markets IT Spending Outlook: Doing More With Less
* Top 10 Securities and Investments Trends for 2009
