Industry news

The UK government should include a “social value calculation” in the Procurement Bill as a compulsory component for contracts.

During a Westminster Hall debate in Parliament, Mick Whitley (Lab), told MPs a “measure of social value” should be embedded “in every contract”.

“That spending should bring direct benefits to the people of this country, not primarily to the corporations that win most contracts, and still less to those in tax havens who utilise loopholes in the law to siphon taxpayers’ money into offshore accounts,” he said. 

“However, the bill does not match the scale or scope of reform to public procurement procedures required to ensure that it addresses the needs of the British people following the UK’s exit from the EU.”

Read more on CIPS here.

In the face of a business environment plagued with uncertainties, organizations are turning to technology to help lower costs and optimize productivity, and with good reason. Among McKinsey-surveyed companies in 2020 that were able to successfully undergo a tech transformation, 50 percent reported moderate to significant impact on realizing new revenue streams, almost 70 percent reported impact on increasing existing revenue streams, and 76 percent reported impact on reducing costs. But modernizing technology requires companies do multiple things well to capture all the value that’s there for the taking, write partners Anusha Dhasarathy and Thomas Elsner, and senior partner Naufal Khan. Dive into these insights to understand how to compete and succeed in a digital world.

Read more on McKinsey & Company here.

Pressurised working environments for procurement professionals are driving an increase in automation in the function, according to experts.

Alan Holland, founder and CEO of tech firm Keelvar told Supply Management there had been a “significant increase in demand” for automation as a result of rising burnout among buyers.

“Sourcing professionals have been swept up in a perfect storm of global volatility, geopolitical disruption, and inflation and they’re struggling to stay afloat,” Holland said.

“While predictive AI has gained some traction for helping teams anticipate future outcomes, it’s doing little to solve the workload crisis they’re currently facing. As a result, we’re seeing a significant increase in demand for automation.”

Read more on CIPS here.

Accenture (NYSE: ACN) has been rated the highest Leader in the Everest Group PEAK Matrix Assessment for Salesforce Industry Cloud Services, positioned ahead of all competitors in both Market Impact and Vision & Capability.

According to the report, Accenture's consistency in winning Salesforce Partner Innovation Awards and recognition with the highest industry expertise level indicates its capability and credibility in the market. Additionally, clients recognized Accenture for its track record of successful implementations, technology-functional expertise, and a global talent pool of industry cloud resources. Accenture was the only provider to be measured 'high' in the Value Delivered and Vision and Strategy capabilities.

Read more on MarketScreener here.

Teleperformance which is into outsourced customer and citizen experience management and related digital services, said it has assisted more than 60,000 children, including 10,000 in India, in situations of vulnerability across 50 countries last year through its Citizen of the World (COTW) programme. 

Founded in 2006, COTW is part of the Teleperformance Corporate Social Responsibility (CSR) strategy to meet today’s major global challenges.  Since its inception, COTW has made $60 million in cash and in-kind donations to help improve lives around the world, the firm said. 

Read more on The Hindu here.

IBM announced revenue growth above expectation in Q4, and growth of 12% for FY22, however the company also announced 3,900 layoffs representing 1.5% of IBM’s workforce.

For Q4 FY22 IBM reported revenue of $16.7bn, up 6% at constant currency, though flat in real terms. IBM has seen success from its focus on hybrid cloud and AI, with good growth across all geographies.

For the full FY22, revenue was up 12% (cc) to $60.5bn, with about 4 points attributable from sales to Kyndryl. Hybrid cloud revenue was $22.4bn, up 17% (cc). Currency volatility was a significant headwind in 2022, impacting revenue by $3.5bn dollars. The planned layoffs are related to the spinoff of its Kyndryl business and a part of AI unit Watson Health. No UK specific revenue was provided, but in January IBM named Dr Nicola Hodson as its new Chief Executive for UK&I, succeeding Sreeram Visvanathan.

Read more on TechMarketView here.

Dell Technologies has acquired the open source, multi-cloud orchestration platform Cloudify in a deal widely reported to be worth up to $100m.

Although neither Dell nor Cloudify has released a statement about the acquisition, Dell has posted a Form S-8 filing with the US Securities and Exchange Commission detailing share awards for Cloudify employees as part of the deal.

Read more on TechMarketView here.

2022 had proven challenging for Australia, with economic turmoil and market volatility in the face of supply chain issues, political conflicts, and talent acquisition and retention difficulties, according to robotic process auttomation provider SS&C Blue Prism.

SS&C Blue Prism says organisation leaders should prepare for challenges around procuring talent, building the right flexible workplace culture, and delivering operational resilience. 

“To help organisations achieve IA success, leaders from the global SS&C Blue Prism team predict the following trends will become key priorities in 2023:

Read more on IT Wire here.

What’s riskier: a lion that’s about to pounce on you, or an iceberg melting away in the distance?

Both pose a threat to human life. But our ability to perceive and act on the long-term danger falters in comparison to our readiness to grab a spear or rock to deter the big cat.  

Our ability to focus on our immediate surroundings was once a handy mechanism to stay alive. Now, this short-term bias could be putting the world at risk. While we’re well aware of the challenges ahead, acting on them is a different story. The urgency of the COVID-19 pandemic prompted dramatic changes, from lockdowns to virtual working; the slow-burn crisis of climate change has not had the same effect.

Read more on Zurich Insurance here.

• Zurich launches the fourth edition of its global startup competition, the Zurich Innovation Championship
• Startups can sign up here until Feb. 27 in five categories expected to shape the future of insurance
• First three editions have resulted in 30 ongoing collaborations globally

Find out more on Zurich Insurance here.