Industry news

The GDS (Government Digital Service) is reviewing the cloud policy and guidance in consideration of the Schrems 2 judgement in July which destroyed the EU-US Privacy Shield Agreement.

Schrems 2 means that there is insufficient framework to ensure compliance with EU data protection laws as the EU-US Privacy Shield Agreement has been destroyed. 

The review will identify relevant cross-border data flows and ensure that appropriate mitigation is implemented if necessary, following the guidance from the IPO (information commissioner’s officer) and the EDPB (European Data Protection Board).

Read the full article here: https://www.computerweekly.com/news/252489400/GDS-reviewing-Cloud-First-policy-post-Schrems-II

Read the full article here 

The pandemic has caused a slowdown in government awards and demand for cleaning, security, transport and other services which will lead to a consolidating effect within the sector as COVID-19 has compounded some pre-pandemic issues. 

During lockdown Serco furloughed 2,500 staff as most of their services were closed. They have pledged to pay back £50 million in liquidity support from the government by the end of the year but 1,200 employees are still on furlough payments to keep them employed. 

However, they have done well in comparison to other outsourcing companies. During the pandemic they secured contracts worth around £157 million between February 1st and September 7th alongside work mobilising 10,500 contact tracers for the NHS Track and Trace Programme and helping to set up drive-in test centres.

Although these contracts have been criticised and there’s a public campaign to pro-renationalise Serco showing the distress within the sector. 

To read the full article you will need to be subscribed to the Financial Times: https://www.ft.com/content/3fcc81e7-dad3-43a5-b199-e7f967f0b211

BPM companies are experiencing increased demand for digital transformation deals from companies within the UK as firms are forced to their cut costs with the current uncertainty of COVID-19 and BREXIT. 

The UK is already suffering from the worst recessionary pressure in comparison to the major European economies. Therefore, many companies are considering outsourcing to BPM firms such as HGS in order to improve their balance sheets.

Read the full article here: https://economictimes.indiatimes.com/tech/ites/bpm-cos-see-digital-deal-surge-in-uk/articleshow/78248619.cms

After recent news that Donald Trump was going to ban the social media platform “Tiktok” due to data protection fears it has been announced that Oracle is going to partner with them in order to continue the platforms growth. This partnership is set to provide a safer environment where people's data is protected worldwide. The data will be stored on Oracles Cloud 2 after their recent success with “Zoom.” Therefore, Donald Trump has given it his “blessing.” 

Read TikTok’s statement here: https://twitter.com/tiktok_comms/status/1307454658680631296/photo/1

Read Oracles statement here: https://www.oracle.com/news/announcement/oracle-chosen-as-tiktok-secure-cloud-provider-091920.html

Technology companies are on the rise as HCL Tech enter the top 10 most valuable firms in terms of market-cap alongside two other technology companies, TCS and Infosys. This occurred after HCL Technologies stocks rose by nearly 4% to Rs 817 in one day. This acceleration is expected to grow their revenue by 3.5% quarter on quarter in constant currency.

Read the full article here: https://www.business-standard.com/article/markets/hcl-tech-rallies-13-in-4-days-on-earnings-update-hits-fresh-record-high-120091700308_1.html

Computer Weekly exposes that the ASEAN markets have low acquiring rates of Cloud due to the skills gap, lack of service providers and sovereign issues within developing countries. Major Cloud firms are trying to fill the skills gap by partnering with universities, however a lot more needs to be done. 

Read the full article here: https://www.computerweekly.com/blog/Eyes-on-APAC/Emerging-ASEAN-markets-hit-wall-with-cloud-adoption

Serco has won the most Covid-related government contracts among UK-listed outsourcers but the pandemic did not bring any "great bonanza" for the industry, according to research.

Read the full article: https://www.ft.com/content/d217b789-3ca7-42a8-bac0-16fd0b24c60d

The FT's recent series entitled 'Rebooting the Workplace' highlights how the economy can recover following on from the pandemic. This article in particular recognises the importance of globalisation and the outsourcing industry in aiding the development of the workplace. Covid has given an opportunity for us to revolutionise the way we work.

Read the full article: https://www.ft.com/content/3c3f5f1e-8402-4331-8591-e2b667873605

Thinking ahead for the future and lessons learnt from the pandemic. 

https://www.linkedin.com/pulse/nhs-covid-19-five-fundamentals-next-phase-beyond-david-morris/?trackingId=m8fYBeRJ7bX52tp1WYLE%2BA%3D%3D