CHICAGO (PRWEB) March 22, 2018
Damo Consulting, a leading consultancy for healthcare enterprises and technology firms, today announced the release of its second annual “The WITCH Report: 2017 Annual Review,” a comprehensive review of the financial and market performance of global technology consulting firms in healthcare. The report provides a detailed review of market performance metrics, insights and dealings of five major global technology firms, including: Wipro, Infosys, TCS, Cognizant Technology Solutions and HCL (WITCH). Additionally, the report covers market and financial summaries for select global technology firms.
Aspects covered in the WITCH Report include financial performance, mergers and acquisitions, customer wins, strategic partnerships, new product initiatives and leadership announcements.
“Our second annual report on global technology consulting firms in the healthcare space tells us one thing: Traditional technology consulting firms struggled in 2017 in the healthcare segment,” said Paddy Padmanabhan, CEO of Damo Consulting and author of The Big Unlock: Harnessing Data and Growing Digital Businesses in a Value-Based Era. “As all the companies try to figure out their next play in the healthcare markets, the policy uncertainties at the beginning of the year seem to have given way to anxieties about the overall demand environment for traditional consulting services.
“This survey of healthcare IT demand tells us there is a clear shift towards value-based care in the markets and a focus on digital transformation led by patient engagement and care transformation initiatives, with data and analytics being key enablers for the transformation,” Padmanabhan added.
The report offers additional insight regarding each featured company’s attempts at addressing their respective markets with digital strategies. While many have failed in their efforts, several have made significant inroad toward digital success. However, Padmanabhan says the term “digital” now has several definitions that covers “pretty much everything in IT and, therefore, means nothing.”
As cited in the WITCH Report, examples of success and failure with digital strategies might include Tata Consultancy Services, which has effectively abandoned a vertical market strategy in favor of a horizontal strategy, while Cognizant is deepening its vertical market strategy while maintaining its focus on digital.
However, as healthcare revenues stabilize and operating margins appear to have dropped significantly in 2017 compared to the previous year, those firms employing automation, AI and cloud initiatives are now the disruptors, the report points out. The disruptors of yesterday are finding themselves disrupted today in ways no one can anticipate – because of market consolidation, the emergence of non-traditional players or technology led shifts in computing paradigms.
The report, ultimately, offers detailed performance measures for the big five WITCH firms, including revenue growth rates for 2016 vs. 2017; their investments in health and life sciences; detailed financial summaries for each with year-over-year revenue growth; insights about the well-being of the their health and life sciences business units; and the percentage of each firm’s healthcare investment versus total company revenue growth or loss.
The report also provides financial and market performance information, by quarter, as well as select transactions from throughout 2017 of several of global consulting firms, including:
- DXC Technology
- NTT Data
All companies covered in the report are public companies.
To download the report, visit: https://www.damoconsulting.net/downloads/witch-report-healthcare-services-update-annual-review-2017/
About Damo Consulting
Damo Consulting Inc. is a Chicago-based management consulting firm focused on global sourcing and growth strategy advisory for healthcare enterprises and technology firms. Representing some of the world’s largest healthcare and IT providers, the company has a proven track record helping clients reduce costs, improve market performance and leverage innovative approaches to meet their business objectives.