Vendors pursue opportunities in cloud and cybersecurity to alleviate revenue pressures related to COVID-19

Vendors pursue opportunities in cloud and cybersecurity to alleviate revenue pressures related to COVID-19

IT services trailing 12-month (TTM) revenue growth, at 1.5% in U.S. dollars (USD), was down 20 basis points sequentially and 170 basis points year-to-year in 1Q20 as the COVID-19 pandemic began to negatively affect vendors’ revenue growth during March. At every level of every organization, the pandemic forced massive changes in human resources management, pushing vendors to quickly reorganize service delivery to work-from-home models and proactively pursue similar activities with clients as they strive to keep operations running. While vendors are strengthening relationships with existing clients, the pandemic disrupted traditional sales motions, making attracting and landing new logos more difficult in an all-virtual environment, and challenging IT services vendors to develop novel ways to promote new offerings to clients. The pandemic substantially boosted demand for cloud and cybersecurity as all-remote working and delivery necessitated massive changes and brought in new risks.

The IT Services Vendor Benchmark details and compares the initiatives of and track the revenue and performance of the largest global IT services vendors. The report includes information on market leaders, vendor positioning, the IT services market outlook, key deals, acquisitions, alliances, new services and solutions, and personnel developments.

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