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Everest Group Names HCL Technologies a Leader for Life Sciences Digital Services in North America
PUBLISHED DATE: Nov 26, 2018
Noida, India, November 26, 2018 – HCL Technologies (HCL), a leading global technology company, today announced that it has been recognized as a Leader in Everest Group’s Life Sciences Digital Services North America PEAK Matrix™. As part of the analysis, Everest Group assessed the leading companies in North America poised to take advantage of what is expected to be a $4billion marketplace, and HCL Technologies was positioned among the Leaders of the 23 companies evaluated.
Life Sciences in both the consumer and enterprise segments are looking for rigorous implementation of digital technologies for business improvement and transformation. The market size for life sciences digital services in North America is currently estimated to be between $2.2b to $2.5b and is expected to grow at a rate of 15% to 20% between 2017 and 2020. The top seven companies named in the report account for more than half of the market for digital services in North America. These companies are noted for supplying large customers, maintaining balanced portfolios, creating innovative digital use cases, and having a continual investment in technology and services.
“The vision that HCL has for its life sciences customers includes an end-to-end platform that will enable innovation and allow them to re-imagine their IT landscape for competitive advantage, and we have seen this vision become reality over the past few years,” said Shrikanth Shetty, Executive Vice President and North America Business Head for the Life Sciences and Healthcare (LSH) vertical at HCL Technologies. “Digital technologies are set to transform this industry, and HCL is well-poised to help our customers take advantage of the growth this technology will bring. Everest Group’s identification of HCL as Leader on the PEAK Matrix is a testament to our commitment and vision.”
Everest Group cited HCL’s significant momentum around a sizeable revenue base as well as credible use cases, such as the use of IoT for inventory in pharmaceuticals and medical devices. The report also mentioned HCL’s knowledge of technologies such as analytics, AI, cloud, IoT, and mobility.
“North American life sciences enterprises are getting serious about digital transformation. A mix of market changes and demand dynamics – including the need for faster time to market, acceleration of personalized medicine, movement towards value-based care, evolving patient expectations, and the boost from US tax reform – is driving the change,” said Nitish Mittal, Practice Director, Everest Group. “HCL Technologies is aligning itself to be a complementary partner for life sciences firms, through focus on offerings around analytics for R&D and clinical trials, as well as use cases for IoT in patient management and medical device inventory management.”
About HCL Technologies
HCL Technologies (HCL) is a leading global technology company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 43 countries and has consolidated revenues of US$ 8.2 billion, for 12 Months ended 30th September, 2018. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCETM Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business. HCL leverages its global network of integrated co-innovation labs and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail & CPG, Life Sciences & Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government. With 127,875 professionals from diverse nationalities, HCL focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe 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, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have 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, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For details contact
Anne Coyle, United States
Elka Ghudial, Europe
Devneeta Pahuja, India and APAC