Mphasis Recognized in Top 15 Sourcing Standouts by ISG in the Managed Services Market in the Americas

Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading global technology research and advisory firm.

According to the 2Q 2023 Global ISG Index™, Mphasis was recognized among the leading providers in the Top 15 Sourcing Standouts category (revenues of $1 billion to $3 billion) in the Americas for Managed Services, based on annual contract value (ACV) won over the last 12 months.

The ISG Index found that demand for Managed Services remained strong in the second quarter, topping $10 billion in ACV for the first time. Steve Hall, president of ISG said, "Managed services continues to be resilient in the face of economic uncertainty. We are seeing continued strong demand in this segment as enterprises use managed services as a lever for cost optimization." Data from the ISG Index showed the volume and value of contract renewals and extensions remained robust in Q2.

Mphasis is honored to be named among the Top 15 Sourcing Standouts by ISG. It is a testament to our continuous development of innovative technology solutions to deliver exceptional services to customers. The recognition highlights the success of our global strategies and investments in cutting-edge domains, including Artificial Intelligence and its subdomains like Generative AI. We recently established the 'Mphasis.ai' business unit, dedicated to driving innovation within the AI space, to enhance our AI capabilities and achieve significant results for customers," said, Ravi Vasantraj, Global Delivery Head, Mphasis.

"The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. Mphasis continues to establish itself as a leading and growing player in the global market for managed services, based on its volume of business in relation to other industry providers said Paul Reynolds, Chief Research Officer of ISG.

Mphasis' inclusion in the ISG Index™ is based on data the company submits to ISG each quarter. Over the past 12 months, the company experienced remarkable growth driven by its commitment to cutting-edge technology solutions and exceptional customer-centric services. A strategic focus on key sectors like finance, healthcare, retail, and technology led to strong partnerships and breakthroughs. Expanding into new geographies enabled the provision of global services, while domain expertise in cloud and cognitive services met evolving client demands.

Shares of MphasiS Limited was last trading in BSE at Rs. 2374.65 as compared to the previous close of Rs. 2386.00. The total number of shares traded during the day was 11559 in over 2632 trades.

The stock hit an intraday high of Rs. 2407.00 and intraday low of 2343.60. The net turnover during the day was Rs. 27356976.00.

Source : Equity Bulls

Keywords

Mphasis INE356A01018 Top15 Recognition ISG ManagedServices Americas