Search through our UKHotViews and UKHotViewExtra articles plus complete research reports
The Panoply, which positions as an alternative provider of digital transformation to the public sector, is bullish in its financial year results announcement (to end March 2020). Its confidence is based on a strong performance in FY20 but also a positive Q1.
In FY20, revenue increased 43% to £31.5m. Though difficult to determine, due to the buy and build nature of the business, organic revenues look to have been in the region of about 3% (taking into account the acquisitions of FutureGov and Ameo). This was followed by organic revenue growth of 10% in Q1 – this, on a proforma basis assuming all acquisitions were part of the business in the comparable period. Adjusted EBITDA for the year increased by 32% to £3.4m; excluding the investment in the start-up businesses and central costs, underlying EBITDA increased 54% to £5.7m
The business is changing shape and is becoming more resilient as a result... Read more.
Posted by Georgina O'Toole at '09:43'
Are you interested in digging deeper into our UK SITS Market Trends & Forecasts 2020-2023 and UK SITS Supplier Rankings 2020 research? Well now you can. TechMarketView is offering a virtual engagement to explore the meaning behind the written word of our two flagship reports. We have designed a session to enable you to get the most out of our latest analysis and support your business planning activities.
In such an extraordinary year, defined by the COVID-19 pandemic and the associated global lockdowns, TechMarketView’s expert analyst team has had to consider the extreme uncertainty that remains for us all and we have created forecasts for the next four years based on two market scenarios. The scenarios will determine how quickly confidence will return. But regardless of the pandemic’s progression and the resultant impact on the UK economy, change is coming. In fact, it’s already here.
Strategic planning in the current environment is filled with unknowns. There’s a strong desire to leverage past investments while accelerating change. Suppliers must recognise the fundamental shift in their clients’ attitudes, and help them ‘reset and reimagine’, ensuring that technology remains at the heart of the agenda.
TechMarketView is on hand to help you with these challenges and a virtual engagement or webinar with one of our expert analysts is a great way to kick off your business planning process.
Contact info@techmarketview.com to book your session. Exclusively for subscription clients and priced at £2,950 +VAT.
Posted by HotViews Editor at '09:30' - Tagged: webinar
We have written a number of pieces this year about how Covid-19 is accelerating the adoption of automation technologies in a range of end user industries. (See - Accelerating RPA adoption within the NHS as a recent example). We have also heard from the likes of EY that recent research with business leaders consistently points to businesses looking to ramp-up investment in automation as they prepare for a post-crisis world.
It’s becoming increasingly likely that one the of the biggest beneficiaries from changes to the workplace post-covid will be automation technologies. To date, automation has too often been deployed tactically and piecemeal, frequently struggling to scale and be adopted throughout an organisation. However, the need for cost reduction, speed, consistency, reducing physical contact are all likely to help drive up adoption rates.
As the focus shifts from cost reduction towards growth, the approach to automation technologies will have to become more strategic where the future of the workforce is a hybrid one – with a mixture of robots, humans, AI and intelligent automation all ultimately working together.
To understand what these trends look like in practice, I spent time recently with the automation team at HCL to get a feel for how their automation proposition is being deployed by clients, since the outbreak put so much pressure on organisations and demanded different ways of working, all in “double quick” time…read more here
TechMarketView subscribers, including those signed up to UKHotViewsPremium should read UKHotViewsExtra - Covid-19 accelerates automation adoption for HCL’s Digital Process Operations (DPO).
If you are not yet a subscriber, please contact Deb Seth to find out how to access this and much more.
Posted by Marc Hardwick at '07:25' - Tagged: automation AI machinelearning nlp covid-19
UK software and IT services (SITS) sector merger and acquisition activity in Q2 fell back to the level last seen in Q1 2018 as COVID-19 restrictions took effect, according to latest data from technology investment bank, Silverpeak.
There were 54 UK buyers and 59 UK sellers during Q2, down from 69 and 83 respectively in Q1. However, the number of domestic deals remained steady with 32 deals in Q2 compared with 31 in Q1. The major shortfall in the number of transactions during Q2 was the sharp reduction in cross border deals
Subscribers to the TechMarketView Foundation Service and UKHotViews Premium can read our quarterly summary of corporate activity in the UK SITS sector in our latest report, IndustryViews Corporate Activity – Q2 2020, downloadable now.
Posted by HotViews Editor at '08:19' - Tagged: acquisition
During times of such uncertainty, TechMarketView is doing all it can to support clients as they make crucial decisions. As well as providing customised research and advisory, we have recently published our two anchor reports providing market and supplier analysis.
Clients can read UK SITS Market Trends & Forecasts 2020-2023 and its companion report, UK SITS Supplier Rankings 2020, for the definitive view of the UK Software and IT Services scene.
In such an extraordinary year, defined by the COVID-19 pandemic and the associated global lockdowns, TechMarketview’s expert analyst team has created market forecasts for the next four years based on two market scenarios.
Scenario A is based on our most optimistic view of prospects for the UK SITS market. It is founded on the presumption that the UK SITS market will suffer a relatively shallow reverse in fortunes during 2020 as a result of the pandemic, and will rebound fairly promptly thereafter, as the wider UK economy enjoys a V-shaped recovery.
Scenario B takes a far more cautious view of the prospects for future growth and is based on the UK SITS market experiencing a sharp decline during 2020. It assumes that both technology spend and the wider UK economy will remain in recession during 2021, with the UK SITS market not returning to growth until 2022. If this outcome comes to pass, by 2023 the UK SITS Market will be worth approximately £4bn less than under our more optimistic, Scenario A.
The scenarios will determine how quickly confidence will return. But regardless of the pandemic’s progression and the resultant impact on the UK economy, change is coming. In fact, it’s already here.
Read UK SITS Market Trends & Forecasts 2020-2023 for more on how the market could shape up. The standalone forecast data can be found here: UK SITS Market Forecasts 2020 (Excel).
Alongside the Market Trends & Forecast report, clients should read UK SITS Supplier Rankings 2020, our analysis of the largest 60 suppliers in the UK SITS market. It follows detailed research into over 200 publicly quoted and privately held companies.
Holding on to its number one spot is Capita, in spite of a notable revenue decline in 2019. However, powering into second place is TCS, thanks to mega deal wins - many of which have been in Banking and Financial Services. The rankings reflect the changes in the market, and in particular how the long-standing suppliers are managing the swing from heritage Software and IT/Business Process Services to new propositions.
To make sure you are prepared to respond in the months ahead, read the research:
If you are not yet a subscriber, please contact Deb Seth to find out you can gain access to this invaluable research.
And don’t forget, you can engage directly with the TechMarketView analyst team through a virtual engagement – see here. We can design the engagement to suit your organisation’s needs.
Posted by HotViews Editor at '08:51' - Tagged: cloud forecasts rankings automation cyber ML
COVID-19 has shone a spotlight on the challenges facing the care sector in the UK – and indeed globally - but it’s also shown the potential for technology to help improve outcomes and the quality of care received. In just a few weeks, we’ve seen the rapid growth in the adoption of technology by the care sector with families engaging with the vulnerable loved ones virtually, and wearable devices and remote monitoring technology being deployed to avoid the need to enter the homes of people who are shielding.
We’ve also seen the first use of collaborative robots - or cobots - in the UK care sector. Hampshire County Council and PA Consulting-led Argenti Care Technology Partnership are working with Japanese robotics developer Cyberdyne to trial lumbar support cobots to help care staff cope with the physical demands they face. More...
Posted by Tola Sargeant at '09:41' - Tagged: socialcare robotics caretech
TechMarketView Foundation Service clients are, today, treated to our eagerly anticipated annual review of the UK Software and IT Services market: UK SITS Market Trends & Forecasts 2020-2023.
TechMarketView followers will know that our Research Theme for 2020 is ‘Digital Chaos’. Little did we know that, as we entered a new year, we would see quite the level of chaos that has transpired, albeit not just from a digital perspective.
In such an extraordinary year, defined by the COVID-19 pandemic and the associated global lockdowns, TechMarketview’s expert analyst team has had to consider the extreme uncertainty that remains for us all.
That’s why we have created UK software and IT services (SITS) market forecasts for the next four years based on two market scenarios.
Over the last few months, organisations across all UK industries have, supported by their ICT suppliers, responded to unprecedented circumstances. With rapid responses required, many of the barriers that are often accused of slowing down IT and digital progression were knocked down.
As we are all painfully aware, the pandemic is still with us. However, as the dust settles on the initial wave, organisations are reflecting on their experiences. In both the public and private sectors, organisations have had their eyes opened to their vulnerabilities. And at the same time, they are looking at the potential of digital technologies through a different lens. Old business assumptions are being put aside as they press the ‘reset’ button.
Digital developments undertaken during the pandemic will have added to the ‘Digital Chaos’. Now, there will be a strong desire to leverage past investments while accelerating change. Suppliers must recognise the fundamental shift in their clients’ attitudes, and help them ‘reset and reimagine’, ensuring that technology remains at the heart of the agenda to get us back living our lives in the ‘new normal’.
To make sure you are prepared to respond to in the months ahead, download UK SITS Market Trends & Forecasts 2020 now. If you are not yet a subscriber, please contact Deb Seth to find out how to gain access to this invaluable research.
Posted by Georgina O'Toole at '09:23' - Tagged: markettrends forecasts covid-19 MarketForecasts
The total ban on Huawei equipment in the UK’s fifth generation (5G) networks will have profound repercussions for the telecommunications industry, businesses and consumers alike while potentially pulling the UK into a trade war with China.
TechMarketView clients, including HotViews Premium subscribers, can read more about its impact on 5G and full fibre network rollouts and what it might mean for Huawei’s future in the UK in our HotViewsExtra Huawei ban creates UK telecommunications headache here …
If you are not yet a TechMarketView subscriber and would like access to these or any other of our resources, please contact Deb Seth.
Posted by Martin Courtney at '10:17' - Tagged: government broadband 5G telecommunications ban China
Over the weekend, UK Government announced another £705m of funding to ensure that the country’s border systems are fully operational when the UK takes back control of its border at the end of the EU Exit transition period on 1st January 2021.
Around £115m of that funding is destined to be spent on IT systems. In this latest UKHotViewsExtra from TechMarketView’s PublicSectorViews team, we look at the progress of the Future Borders programme to date, where the funding is set to go, and what Government is looking for from its suppliers.
If you are a TechMarketView subscriber, including for UKHotViews Premium, you can read the analysis now in Government announces additional Future Borders funding. If you are not yet a subscriber please contact Deb Seth to find out how to access this and more.
Posted by Georgina O'Toole at '10:07' - Tagged: publicsector centralgovernment brexit opportunity
After being caught in the huge stock market sell-off during the first quarter due to concerns about the impact of the COVID-19 coronavirus on the global economy, tech stocks have led the recovery.
Indeed, the aggregate value of quoted UK software and IT services (SITS) companies was 14% higher in Q2 2020 than the prior quarter although still 17% down on the value at the end of 2019.
Subscribers to the TechMarketView Foundation Service and UKHotViews Premium can read more by downloading the Q2 2020 edition of IndustryViews Quoted Sector.
Posted by HotViews Editor at '08:54'
For the last 15 years Harrow London Borough Council has been running its IT services via large-scale outsourcing contracts. This year it is taking a different approach to support its IT estate. It has recently appointed Version 1 as its partner to support its ambitions to transform services through digital technology.
With its contract with Sopra Steria coming to an end in October 2020, the council started considering its next steps, including the benefits of moving to a disaggregated model. The council decided to take some services back in house and started looking for a new IT partner.
Version 1 was selected after demonstrating the relevant knowledge, approaches and roadmaps for transition, transformation and innovation at the local authority—the value of the contract has not been revealed. The council was also impressed with the community-centric approach Version 1 took towards supporting the council through a dedicated Social Value Programme of work focused on improving the employability of residents in Harrow.
The company was awarded a two-year contract via G-Cloud for the Hosting, Application Maintenance and Support of the local authority’s IT Estate—it will commence delivery of the service in November 2020. The contract covers 310 managed applications, of which approximately 20 are key line of business, critical to the efficient running of the council’s services. Version 1 will help the council decommission its legacy data centre and move towards a public cloud focused approach utilising Azure. It will also help the council move core systems to SaaS delivery.
Speaking to TechMarketView, Ben Goward, Harrow Council’s Director of ICT, said the council's IT estate is in significant need for a refresh, but now has the opportunity to make a step change in its digital services. He stressed that Harrow Council is only at the beginning of the journey towards comprehensive digital transformation. It is about getting the basics right and creating the foundations for the future—fixing the plumbing. However, the council can apply the lessons learned from those local authorities that are further along their transformation journey and, working in partnership with Version 1, make a positive step change in IT services over the next few years.
TechMarketView subscribers, including those signed up to UKHotViews Premium can find out more about Harrow Council's plans in UKHotViewsExtra: Harrow Council looks to the future with Version 1. If you are not yet a subscriber, please contact Deb Seth to find out how to access this and much more.
Posted by Dale Peters at '09:00'
The innovation lifecycle blends pain points and purpose, with a splash of serendipity, and the incentive to produce something that is both different and makes a positive difference to business and consumers. The challenge is building a framework to support ongoing innovation - from ideation through implementation to tangible business value - without stifling it. “Mastering the Art of Practical Innovation” explores how Atos approaches the task.
Across the tech sector, providers have assembled skills, capabilities and components to support customers’ innovation ambitions as they digitally transform their businesses. Investment is being directed towards services, products and IP around technologies such as IoT and edge computing, 3D printing and quantum computing, and new business model enablers such as industry data platforms. But there’s a difference between check-listing and melding capabilities together in a way that has a direct effect on the organisation implementing them and their consumers, whose experience is the ultimate arbiter of success.
Posted by Angela Eager at '08:08' - Tagged: itservices innovation digital
Have you got your copy of this year’s TechMarketView rankings report? Don’t miss out on finding out who ranks where in our top 60 and delving into the supplier profiles of the top 30. The rankings reflect the changes in the market, and in particular how the long-standing suppliers are managing the swing from heritage Software and IT/Business Process Services to new propositions.
Top 20 ranking tables are also provided for key horizontal market areas as defined by TechMarketView’s Digital Evolution Model (DEM): Enterprise Software, Consulting, Solutions, and Operations (across Business Process, Applications and Infrastructure) giving readers unparalleled depth and breadth of analysis.
The much anticipated, and highly comprehensive, Supplier Rankings report is available for our Foundation Service clients here: UK SITS Supplier Rankings 2020.
Or, if you are not a client of the Foundation Service, or indeed of TechMarketView, contact info@techmarketview.com today to find out how to get your copy.
Posted by HotViews Editor at '08:00'
Accenture is to cut between 700 and 900 UK jobs, equating to between 6% and 8% of its 11,000 employees in its offices across London, Aberdeen, and Cambridge. The news was picked up by the Guardian, which saw an internal note to staff. Accenture have since responded.
The internal note highlights that the company already had an overcapacity when the pandemic hit. And over the last period, additional strain has been felt due to lower demand and reduced natural attrition. The company has also identified that “structural costs need to be addressed”.
Accenture is keen to highlight that it has already taken actions to cut costs by decreasing travel (wouldn’t have been hard!), reducing contractor numbers, and pausing recruitment, but it has not been enough. As a result, redundancy talks will commence in the middle of this month, with all levels affected, including MDs (Accenture’s equivalent of ‘Partner’).
Accenture’s statement reads: “We remain confident in our business in the UK for the long term. We are taking steps now to be able to continue investing in our workforce and our business, ensuring we have the right people with the right skills to best serve our clients and are well positioned for the future. We have notified our UK people that it is necessary to go into collective employee consultation for a proposed redundancy programme.”
TechMarketView subscribers, including those signed up to UKHotViewsPremium should read UKHotViewsExtra -Accenture to make up to 900 UK staff redundant for our opinion on the news. If you are not yet a subscriber, please contact Deb Seth to find out how to access this and much more.
Posted by Georgina O'Toole at '09:00' - Tagged: restructure covid-19
My self-managed Holway Portfolio is divided into Tech and Non Tech holdings. The Holway Tech Portfolio is UP 26% YTD. The Non Tech Portfolio is DOWN 23% YTD. Fortunately my Tech portfolio is 4x bigger! Although when I started my own portfolio 20 years ago they were equal.
This is reflected in Share Indices YTD to end June. At the halfway point, NASDAQ is up 11.4% (another 6.5% rise in June alone) whereas the FTSE100, despite a ‘good June’ with a 1.5% rise, is down a massive 18.2% in 2020 YTD.
For an extensive review of Share performance in June and YTD See Share Performance in June 20 on HotViews Extra
Outlook?
COVID-19 still dominates sentiment. Undoubtedly some of tech has had ‘A very good COVID-19’ as the NASDAQ bull run indicates. But the US is in a very precarious state with new waves of infection and a President who clearly doesn’t understand the consequences of his inaction.
In the UK, many of the lockdown restrictions are eased on 4th July. Is this too soon? If a second wave then occurs, the sentiment will plummet. Conversely, even the Bank of England is suggesting that the UK might see a V-shaped recovery. With Prime Minister Johnson promising a ‘New Deal’ with increased infrastructure spend, tech could be a major beneficiary.
So I think we will see a continuation of the dichotomy of performance between ‘Tech’ and Non Tech’.
For a full, detailed review of the winners and loser and what the future might hold, see Share Performance in June 20 on HotViews Extra - available to all paying subscribers including HotViews Premium.
Posted by Richard Holway at '09:04'
