Industry news

Mid-guidance sequential growth of 4.1% saw Wipro’s Q223 revenue reach $2.8bn. The 12.9% yoy constant currency increase in sales for the three months ended 30th September was accompanied continuing flow of large deals wins. This helped to lift the company’s order book at the end of the period by nearly a quarter over the same point in the prior year. Operating margin, which had declined in each of the five previous quarters (see here), held firm qoq at 15.1% but landed 270 bps down against Q222.

Read more on TechMarketView here.

Westfall Technik has adopted Arkestro’s predictive procurement software to wring savings and more reliable deliveries from a historically challenging supply chain.

Built through the acquisition of 17 companies over approximately a 4-year timespan, the company has seen continued solid organic growth from their customers in their target markets of healthcare and consumer packaged goods and continues on their new customer acquisition journey. Westfall’s corporate methodologies backed by their “Stacked Integration Model” certainly delivers as it relates to their value proposition but also has magnified the need for continuous improvement in key areas given its growth. This has resulted in a corporate structure which poses unique and nuanced supply chain challenges. The company provides end-to-end manufacturing capabilities, including product design, moldmaking, injection molding, assembly and more to a broad range of customers, and as David Schultz, VP, Chief Supply Chain Executive puts it, Westfall Technik counts “all the biggest logos” amongst its customers.

Read more on Plastics Technology here.

It’s widely accepted that by the time journalists publish a “news breaking” cover story, its novelty has already peaked in the real world.

A good example: the emergence of freelancing as a significant player in the future of work. While many of us were writing about the value of freelancing, its global scale, and the necessity of treating it as a fundamental part of the future of work, independent professionals and companies were already making it happen.

It turns out that the freelance revolution is, if anything, ahead of schedule.

Climate change is the defining crisis of our time and a rapidly escalating issue that has left many with a sense of hopelessness and helplessness. Thankfully, new initiatives and developments are taking shape, giving public sector authorities and certain industry segments some power to take action to reduce emissions. Collective efforts are instrumental to combatting this crisis, and companies that commit to reaching their net-zero targets will become the most significant agents of change for our future. 

Read more on The Times of India here.

The issue of whether to outsource a transformation project or lean on in-house expertise is a question many Executives wrestle with. It may seem safer to keep control and offer personal development to in-house teams – after all they have the legacy system knowledge. But will playing it safe differentiate you from your competitors?

True innovation relies on deploying the latest thinking and technology, which offer unique experiences. Existing in-house resource can often be pulled in different directions across multiple conflicting projects. This can make delivering a growth agenda whilst running BAU difficult, to almost impossible. However, for many the default option remains managing these projects in house. Whilst there are advantages to this approach, it also has limitations.

Read more on Finextra here.

By: Anushka Lokesh, the Head of Growth at Breinify, an AI-powered predictive personalization platform.

Artificial Intelligence is the process of analyzing millions of patterns through machine learning. By studying these patterns, AI can make well-thought-out decisions that humans simply can’t.

AI and data science are used in every sector to automate and ease processes. Marketing is no different. The use of data science in digital marketing plays a critical role in any campaign. And organizations making proper use of it are getting huge advantages over their competitors, including:

• Dynamic audience segmentation
• Personalized product recommendations
• Consumer journey optimization

Read more on Unite AI here.

Report on the Global Sustainability and Climate Change Consulting Market shows how the market is doing right now, worldwide. Additionally, it denotes crucial elements that help consumers make important company decisions and advance the expansion of Sustainability and Climate Change Consulting market share. The research also consists of basic product definitions, applications, industrial chain, and classifications of the market. Additionally, it describes various market policies, industry economic and technological frameworks, and Sustainability and Climate Change Consulting market dynamics.

Read more on The Sports Forward here.

KPMG said that its survey of 110 tech CEOs and 75 telco CEOs found that 85% see a recession as likely and most of them are asking themselves how to prepare for it.

KPMG’s 2022 CEO Outlook Survey identified key challenges and opportunities that tech, media, and telco CEOs face.

Read more on VentureBeat here.

UK SITS market leader TCS continues to post strong rates of quarterly revenue growth at both the Global and UK levels. Q2 results out yesterday afternoon saw TCS report Global year on year revenue growth of 15.4% (in constant currency) to $6.9bn (Q2 FY22 $6.3bn). Operating margins declined 1.6% YoY to 24% (Q2 FY22 25.6%) although ticked up on the previous quarter (Q1 FY23 23.1%).

TCS CEO Rajesh Gopinathan pointed to strong demand for its services with “Strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements". 

Read more on TechMarketView here.

In supply chain circles battered by more than two years of upheaval, the word “normal” is creeping into the outlook for 2023. 

• In the latest Logistics Managers’ Index, “September’s future predictions hint at normalization and a return to business as usual over the next year.”
• Analysis from Sea-Intelligence, gauging the amount of bogged-down shipping capacity, shows “all three models suggest we should be back at the ‘normal’ 2% capacity loss baseline by early 2023.”
• The year-to-date improvements in New York Fed’s Global Supply Chain Pressure Index “suggest that global supply chain pressures are beginning to fall back in line with historical levels.”

Read more on Bloomberg UK here.