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Everest predicts strong Growth for application Outsourcing Service Providers

Capital market firms are responding to market challenges of low profit margins, regulatory compliance and aging systems by ramping up discretionary spending on technology. As a result, according to a recent report from the Everest Group, revenue growth for application outsourcing service providers is expected to register strong growth of 13 percent year-on-year through 2020.

Strained revenue growth, burgeoning costs due to litigations, and regulatory compliance continued to adversely affect the profitability of capital markets firms in 2013. This forced them to rethink and reinvent their business models as well as technological priorities.

As a result, 2013 saw strong return of discretionary spend – led by investments in development of specific applications and platform-based utilities for regulatory compliance, data management, risk management, and digital initiatives (cloud, analytics, and mobility).

Read the full article on http://bit.ly/1sa6Kdy

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