Major HFS Research Study Supported by Hexaware Validates Automation and Artificial Intelligence as C-Suite’s Number One Strategic Imperative
October 23, 2017
The study of 400 senior IT and operations decision makers reveals 98% of enterprises have an Automation agenda with COEs and service providers in the mix.
Hexaware, the fastest growing automation-led, next generation provider of IT, BPO and consulting services, today announced the results of a new HfS Research study (supported by Hexaware); a first-of-its-kind research involving 400 senior operations and IT executives from enterprise customers to drive a fact-based discussion on the impact and maturity of automation and Artificial Intelligence (AI) on business operations. The study highlights the early investment, strategies around Intelligent Automation and the impact and maturity of automation and Artificial Intelligence (AI) on business operations. A few salient findings are highlighted below:
- Approximately 82% of the respondentsfeel AI, Machine Learning and Process Automation are important C-suite directives toward operations strategy
- Customers believe RPA & AI will impact their future strategy but they lack the blueprint to initiate it
- Industry-specific processes see a spike in the level of satisfaction when clients use third parties to implement RPA
- Velocity of adopting AI will accelerate in the next 2 years to surpass Automation and will become mainstream
- Automation should be an integral part of operations strategy, yet only 30% organizations are taking such an integrated approach
The study concludes with recommendations for optimizing the automation journey. Please view the full report at the following link https://hexaware.com/state-of-automation-and-AI-PoV.
“Enterprises are embarking towards Digital Transformation not only to gain competitive edge but provide a future ready ecosystem to their stakeholders. Hexaware’s Digital Managed Services approach encompasses RPA, AI and Machine Learning that act as a catalyst towards this automation journey” said Chinmoy Banerjee, EVP & Global Head, BPS- Hexaware Technologies. “This study emphasizes the importance of a new approach to Digital Transformation through automation while leveraging the right technology and engaging the right implementation partner.” he further added.
“Enterprises are increasingly learning there is no silver bullet when it comes to aligning their operations with their digital business strategies. They need to streamline their processes, digitize obsolete workflows and create a data backbone that supports automation, machine learning and AI strategies for their business. RPA tools help breathe new life into stagnating systems, while advances in deep learning are critical for ambitious digital businesses seeking to stay ahead of their customer needs” said Phil Fersht, CEO and Chief Analyst at HfS. “We’ve reached a new inflection point in the world of operations that requires enterprises to knuckle down and digitize their processes to arrive at this next threshold of value”.
About the Study
The study, ‘The State of Automation and AI: C-Suite’s Number One Strategic Imperative for Operations,’ was conducted by HfS Research and supported by Hexaware via a quantitative and qualitative response of 400 top executives from varied industries like Banking and Financial services, Insurance, Healthcare, Telecommunication, Manufacturing and Industrial Products. The respondents were all directors and above involved in buying decisions related to technology and services that include automation tools and services used to improve their organizations internal operations and business processes. The respondents were from a diverse geographic spread across North America (200), Europe (140) or Asia Pacific (60) region.
About HfS Research
HfS’ mission is to provide visionary insight into the major innovations impacting business operations: automation, artificial intelligence, blockchain, digital business models and smart analytics. We focus on the future of operations across key industries. We influence the strategies of enterprise customers to develop operational backbones to stay competitive and partner with capable services providers, technology suppliers, and third party advisors.
HfS is the changing face of the analyst industry combining knowledge with impact:
- ThinkTank model to collaborate with enterprise customers and other industry stakeholders
- 3000 enterprise customer interviews annually across the Global 2000
- A highly experienced analyst team
- Unrivalled industry summits
- Comprehensive data products on the future of operations and IT services across industries
- A growing readership of over one million annually
The “As-a-Service Economy” and “OneOffice™” are revolutionizing the industry.
Read more about HfS and our initiatives on our website.
About Hexaware
Hexaware is a fast-growing IT, BPO and Consulting Company. Our focus is to help customers Shrink IT to eliminate costs and improve delivery of commodity IT, using automation and technology. Transforming customer experience is at the heart of our Grow Digital strategy. We serve customers in Banking, Financial Services, Capital Markets, Healthcare, Insurance, Manufacturing, Retail, Education, Telecom, Travel, Transportation and Logistics. We deliver highly differentiated services in Rapid Application prototyping, development and deployment; Build, Migrate and Run cloud solutions; Automation-based Application support; Enterprise Solutions for digitizing the back-office; Customer Experience Transformation; Business Intelligence & Analytics; Digital Assurance (Testing); Infrastructure Management Services; and Business Process Services.
Hexaware services customers in over two dozen languages, from every major time zone and every major regulatory zone. Our goal is to be the first IT services company in the world to have a 50% digital workforce. Learn more about Hexaware at https://www.hexaware.com.
Copyright © 2016 Hexaware. All Rights Reserved.
Safe Harbor Statement
Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
For more information contact:
Sreedatri Chatterjee
Hexaware Technologies Limited
Tel: +91 900 426 3405
E-mail: sreedatric@hexaware.com
