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Announcements from the newly formed Department for Science, Innovation, and Technology (DSIT) are coming thick and fast, with a clear focus on the UK becoming a “superpower” in the space.
DSIT was created at the beginning of February (see New department to lead on science, innovation and technology | TechMarketView). Less than a month later, the department launched its first piece of major work: the UK Science and Technology Framework (see DSIT launches UK Science and Technology Framework | TechMarketView). A few days later, the new post Brexit data reform bill was introduced (see New post-Brexit data reform bill introduced | TechMarketView). Then we had the publication of the Integrated Review Refresh, which, again, highlighted that science and technology were seen as vital to the UK’s future (Integrated Review Refresh 2023: An evolution (and some more money) | TechMarketView). This was backed up in the Budget a couple of days later, which saw the Government commit to all nine of the digital technology recommendations made by the Pro-Innovation Regulation of Technologies Review led by Sir Patrick Vallance.
There is certainly no chance of DSIT being accused of letting the grass grow under its feet. Today, alongside the Foreign Secretary, the department has launched its plan to make the UK an “international technology superpower” by 2030 in a new International Technology Strategy. Its aim strongly aligns to the Integrated Review Refresh by plotting a roadmap to ensure that the UK can make the best use of new technologies while countering malign influences on tech. Read more…
TechMarketView subscribers – including UKHotViews Premium subscribers – can read more about the strategic roadmap and our views on it in UKHotViews Extra: UK's "International Technology Superpower" roadmap announced | TechMarketView. If you are not yet a subscriber, or are unsure if your organisation has a corporate subscription, please contact Deb Seth to find out more.
Posted by Georgina O'Toole at '09:40' - Tagged: policy government AI semiconductor telecoms quantum engineering science
We are delighted to announce the names of the UK tech scaleups selected by Capita Scaling Partner to participate in today’s pitch sessions at Capita’s London HQ.
They are:
These companies were selected from a longlist of 50 applicants who applied to partner with Capita through the TechMarketView Innovation Partner Programme. This is the fifth time TechMarketView has successfully assisted Capita in its search for innovative UK tech startups and scaleups to partner with.
Many congratulations to the current cohort and we wish them all the very best.
Posted by Anthony Miller at '08:09'
Are you looking to increase your brand’s visibility in the UK tech market? For an opportunity to share your message with our audience of over 20,000 tech leaders? And to be recognised as a noteworthy player by association with a leading independent analyst firm?
Look no further than sponsoring TechMarketView’s flagship event, An Evening with TechMarketView, which returns for its ninth year on 21 September 2023.
A highlight of the UK tech calendar, we’re expecting over 200 senior executives to join us at the Royal Institute of British Architects (RIBA) in London, for an evening that combines first-class networking with peers and prospects over drinks and dinner, with an opportunity to absorb insight on the latest tech trends directly from our analyst team and expert guest speakers.
By sponsoring the event you’ll raise your brand profile and gain access to key decision makers on the evening itself as well as in the months leading up to the event, with all sponsors set to feature heavily in UKHotViews and our social feeds between now and September.
We have sponsorship packages available to suit a variety of budgets with a selection of additional benefits, including tickets to the event, advertising packages and a bespoke article authored by our analysts with reprint rights.
Check out all the options here or contact our Client Services team to learn more – info@techmarketview.com.
Posted by TMV Team at '08:15'
Spring Budget 2023 saw the Chancellor of the Exchequer, Jeremy Hunt, present his plans to grow the UK economy through four areas of focus: Employment, Education, Enterprise and, rather incongruously, Everywhere. It was a budget that put technology at the heart of the UK's economic future, but with the next general election firmly in mind.
In our latest UKHotViewsExtra – Technology at the heart of Spring Budget 2023 – we review the latest economic and fiscal outlook; the Chancellor's plans for the UK to have the most pro-business pro-enterprise tax regime anywhere; new measures designed to encourage people into work; the latest attempts to Level Up the country; and the importance of science, technology, research and innovation in the Government’s pursuit of productivity and economic growth.
TechMarketView subscribers, including UKHotViews Premium subscribers, can read our analysis now.
If you aren't a subscriber - or aren't sure if your organisation has a corporate subscription – please contact Deb Seth to find out more.
Posted by Dale Peters at '08:53' - Tagged: strategy government budget
As we highlighted in our PublicSectorViews report, UK Public Sector SITS Market Outlook Update and Predictions, the UK Government’s refreshed Integrated Review of Security, Defence, Development, and Foreign Policy has been eagerly anticipated by tech providers to UK defence and security market. Yesterday, it was published with the title, “Integrated Review Refresh 2023: Responding to a more contested and volatile world” (you can read the entirety here).
As expected, the new review considers the geopolitical shifts that have taken place since the initial publication of the review in March 2021, providing the framework within which Government will respond to threats over the next five years. For tech suppliers there has been a lingering question for which they will seek answers: will there be a redirection of money away from digital, data, and technology back to the type of investment associated with traditional warfare, i.e., fighting equipment.
In short, there isn’t really a simple answer. It's possible to take a glass-half full or a glass half-empty view... but TechMarketView subscribers - including UKHotViews Premium subscribers can read our take in our latest UKHotViewsExtra from the PublicSectorViews team: Integrated Review Refresh 2023: An evolution (and some more money) | TechMarketView.
If you aren't a subscriber - or aren't sure if your organisation has a corporate subscription - please contact Deb Seth to find out more.
Posted by Georgina O'Toole at '21:48' - Tagged: defence policy security government resilience nationalsecurity
The latest edition of OffshoreViews is now available for download by subscribers to the TechMarketView Foundation Service.
OffshoreViews includes our regular summary of the top-tier and mid-tier Indian SI reporting season, along with insightful charts showing multiyear trends for the Top Tier players and a clickable index to relevant UKHotViews posts.
This edition also gives you a sneaky peek at our latest groundbreaking research into the achievements and ambitions of the India-centric services players in the UK Public Sector.
Click here to download.
Posted by TMV Team at '16:00' - Tagged: offshore
I caught up recently with DXC Technology’s EMEA President, Chris Halbard, who was on an emotional high following Manchester United’s thrilling 2-1 Europa League victory against Barcelona at Old Trafford. As well as Halbard being a lifelong fan of the Red Devils, DXC is also major supporter of the club and the company’s investment is looking increasingly shrewd as the fortunes of one of the biggest global sports brands continues to improve.
Regardless of the recent European footballing success of Manchester United, it was actually another area close to his heart that I most wanted to speak to Chris Halbard about. Specifically, DXC Technology’s innovative Dandelion Programme, an inclusive employment project focused on neurodiversity. The concept of neurodiversity is based on the principle that some differences in brain function are simply natural variations and should be recognised as such, rather than seen as disabilities.
Following a one-year pilot, the DXC Dandelion Programme was officially launched in the UK in October 2022 and focuses on providing opportunities in the workplace and support for neurodivergent individuals. The initiative was first trialled by the company in Australia and New Zealand and now, following the success of the DXC Dandelion Programme in those territories, it has been expanded across Europe and APAC. The scheme has been designed to help people with autism, ADHD, dyslexia and other neurological conditions to establish careers within the IT industry.
TechMarketView customers, including subscribers to UKHotViewsPremium, can learn more by reading UKHotViewsExtra: DXC looks to make a difference as it invests for the long term).
If you do not currently have access and would like to learn more about this, or any other of our services, please contact Deb Seth for more information.
Posted by Jon C Davies at '08:34'
Business Process Services market leader Capita posted its 2022 full year results this morning, that shows an increase in adjusted revenue up 2.4% to £2.8bn (FY21 saw just 0.1% growth) as the business continues to stabilise after several years of change.
Capita predominantly operates through two main divisions: Capita Public Service (predominantly complex multi-service outsourcing to the UK public sector) and Capita Experience (largely customer service type operations geared to the private sector). Whilst Capita Public Service grew by 2.5% it was the stabilisation of Capita Experience, which grew by 0.9% (following on from a -10% decline in 2021) that has lifted the Group. Capita also has a smaller division called ‘Portfolio’ (broadly businesses earmarked for disposal) that saw growth of 10.3%.
Other financial headlines, saw the Group’s profitability and cash positions improve significantly. Adjusted EBITDA was up 67% to £238.8m (FY 21 £143m) whilst both cash generated from operations (+£116.5m Vs -£109.7m in 2021) and free cash flow (+£29m Vs -£218.6m in 2021) improved into positive territories. Sales wise, the Group won contracts with a total contract value (TCV) of £2.85bn (2021 £3.4bn) with the reduction reflecting the ‘lumpy’ impact of the Royal Navy Training deal (see here).
The other big area of focus for Capita has been on improving client delivery which saw the Group’s Net Promoter Score (NPS) improve six points to +35. This has been a big area of focus for the current leadership and key to addressing contract attrition that has impacted growth in previous years – particularly within the Experience division.
Strategically, Capita continues to transition from a “lift and shift” Business Process Outsourcer to a tech-enabled provider of digital BPS. Within this journey different parts of the business are at very different stages of maturity.
TechMarketView clients, including subscribers to UKHotViewsPremium, can read more by downloading the full review of Capita’s FY results here *UKHotViewsExtra* Capita benefits from stabilising Experience.
If you are not already a subscriber and but would like to learn more or gain access to this or any other of our content, please contact Deb Seth for more information.
Posted by Marc Hardwick at '11:37' - Tagged: results
Identity security provider Okta reported strong growth to close out FY23, but forecasts growth to almost halve next year as attracting new customers is expected to become more challenging.
In Q4 FY23 Total revenue was $510m, an increase of 33% yoy. Subscription revenue was $495m, an increase of 34% yoy. For the full FY23 total revenue was $1.86bn, an increase of 43% yoy, with international revenue (which includes the UK) growing 32% yoy and representing 21% of total revenue. Management has focused on improved profitability and increasing cash flow to navigate the evolving macroeconomic environment.
The company reported that similar to Q3 it did not experience a meaningful change in sales cycles or close rates. However, customers are requesting shorter-term contract links as they become more conservative with their long-term commitments. In Q4 Okta added 550 new customers bringing the total customer base to 17,600, representing growth of 17%. New customer growth is an area where it expects to see further challenges, however the business has seen continued strength with upsell and cross-sell business with existing customers.
Forward projections expect total revenue of $509-511m in Q1 FY24, representing a growth rate of 23% yoy. For the full year FY25, the company expects total revenue of $2.155bn to $2.170bn, representing a growth rate of 16% to 17% yoy, a significant slowdown in growth compared to the past few years.
TechMarketView subscribers - including UKHotViews Premium subscribers - can access our analysis of the latest set of results in the UKHotViewsExtra article Okta FY23: Identity security remains a priority for organisations
If you are not yet a subscriber - or are unsure if your organisation already has a corporate subscription - please contact Deb Seth to find out how to access this research and a whole lot more.
Posted by Simon Baxter at '10:28' - Tagged: cybersecurity
A quick shout out to TechMarketView's two Future Steps teams, who officially finished the month-long challenge in aid of The Prince’s Trust yesterday, having racked up 3.6 million steps in total (and enjoyed some walks/runs with amazing views in an attempt to do 10k steps a day each!).
In a competitive field of over 800 teams, TMV Striders - Belinda, Becci, Helen, Holly and Tola - finished 123rd on the steps leaderboard, and TMV Stepaholics - Tania, Georgina, Kate, Marc & Dale - weren't far behind.
So far, we've raised some £500 for the Prince's Trust but it’s not too late to sponsor us! We’re hoping that with a final push we might exceed our target, enabling the charity to give even more young people the opportunity to create a better future through employment, education and enterprise.
If you wish to make a donation, however small, our Just Giving pages can be found at the links below:
TMV Striders - https://bit.ly/3jGxNRV
TMV Stepaholics - https://bit.ly/3HPfjqd
Thanks again to everyone for taking part and all who have supported us.
Posted by TMV Team at '17:14'
Atos has announced FY22 results in line with guidance, highlighting that they demonstrate the “intact attractiveness of the Group’s offering”.
It has been eight months since Atos announced its intention to split into two publicly listed companies (see Atos proposes business split: What does it mean? | TechMarketView). Since then, there has been intense activity within Atos across a variety of workstreams as the company progresses its internal separation plans.
We feared the planned separation would be a distraction internally, as well as to clients. When the company released Q3 results at the end of October last year, we found ‘reasons to be cheerful’ (see Atos: Reasons to be cheerful but cautious | TechMarketView) but a significant improvement was needed in Q4 if the business was to meet management expectations of FY22 performance.
Praise where praise is due. Despite the high level of corporate activity, Atos’ Q4 demonstrated considerable commercial momentum. TechMarketView subscribers - including UKHotViews Premium subscribers - can access our anaysis of the latest set of results in the UKHotViewsExtra article Atos FY22: demonstrating "intact attractiveness" of offering.
If you are not yet a subscriber - or are unsure if your organisaiton already has a corporate subscription - please contact Deb Seth to find out how to access this research and a whole lot more.
Posted by Georgina O'Toole at '10:11' - Tagged: results cloud itservices digital data corporateactivity cybersecurity
TechMarketView’s brand new research on the UK Customer Experience (CX) market is now live for our subscribers. The Customer Experience Market Opportunity report contains data from our experts on the size and growth rates of the Software and IT Services (SITS) CX market and its primary segments. The research also provides insight into the key trends shaping demand and identifies the opportunities and challenges that lie ahead for suppliers seeking to prosper in this rapidly evolving space.
The UK CX Software and IT Services arena has built up an impressive head of steam over the past decade. Now the focus for over a fifth of all SITS expenditure in this country, the CX segment has become one of the most intensely competitive parts of the market. It is also an arena in which success will require keeping pace with the rapidly evolving changes in buyer expectations, investment priorities, and technology strategies.
Annual sales of these offerings have jumped by almost 30% since the start of the decade. Buyer focus has, however, progressively switched from spending to survive to investing to thrive. Despite the increasingly challenging economic outlook, enterprises are continuing to commit substantial funds to CX initiatives in the pursuit of step changes to business performance.
If you are a subscriber to TechSectorViews, download The Customer Experience Market Opportunity report today. If you don’t have a subscription and would like to gain access the report and our other research and services please contact Deb Seth.
Posted by Duncan Aitchison at '08:12' - Tagged: customer+experience
