L&T Technology Services Limited, a prominent
global digital engineering and R&D services company, announced it has been
named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading
global technology research and advisory firm.
LTTS was among the leading providers in the
Breakthrough 15 category globally based on annual contract value (ACV) won over
the last 12 months, according to the 1Q 2024 Global ISG Index™. The company was
also similarly recognized for the Americas and Asia Pacific regions.
Now in its 86th consecutive quarter, the ISG
Index provides an independent quarterly review of the latest sourcing industry
data and trends. Each quarter it names the top 15 commercial providers in the
Big 15 (revenues of more than $10 billion), Building 15 (revenues between $3
billion and $10 billion), Breakthrough 15 (revenues between $1 billion and $3
billion) and Booming 15 (revenues of less than $1 billion) categories in the
Americas, EMEA and Asia Pacific regions. Each Top 15 category includes
providers that compete in the traditional sourcing market, as well as those
that compete in the as-a-service market, including IaaS and SaaS providers.
“Being
chosen as a Top 15 Sourcing Standout reflects our deep commitment to excellence
and innovation in the field of technology services along with our focus on
R&D and the digitalization of engineering services. This recognition isn't
just an important milestone for L&T technology Services but also an
accolade that echoes across the industry. Our relentless pursuit of quality,
customer satisfaction, and exploring the latest technology have been key
factors. We extend our gratitude to our stakeholders, customers and employees,
without whom this feat wouldn’t have been possible,” said Alind Saxena, President-Sales and
Executive Director, L&T Technology Services Limited. LTTS has experienced significant growth driven
across verticals and geographies driven by several key factors. Its engineering
heritage and multi-vertical expertise have positioned it for industry-leading
growth, with substantial improvements in revenue and a strong compound annual
growth rate (CAGR) over the years. A key driver behind the
company's significant growth is investing in reusable tech assets and solutions
and allocating around 2% of its annual revenues to drive sustainable growth and
innovation.
The company's 6
Big Bets have also played a crucial role in enhancing
competitive differentiation and accelerating product development, contributing
to its success in multiple industry verticals. Bolstered by the rising demand
for Engineering Research and Development (ER&D) services worldwide, LTTS'
strong growth rate beyond the fiscal year 2024, indicates a holistic and
sustained growth trajectory. As LTTS prepares for the next phase of growth, it
is pursuing a ‘Go Deeper to Scale’ strategy under which the organization is
being streamlined into 3 segments – Mobility, Sustainability and
Hi-Tech. This cohesive structure will provide greater empowerment to
leaders leading to faster decision making and domain specialization and improve
the innovation quotient to unlock higher value for its global customers. LTTS’ inclusion in the ISG Index™ is based on data
the company submits to ISG each quarter. “The ISG
Index is recognized as the authoritative source for marketplace intelligence on
the global technology and business services industry,” said Paul Reynolds, Chief
Research Officer of ISG. “LTTScontinues to
establish itself as a leading and growing player in the global ER&D
services market for pure play digital engineering and technology services
across the product and process development lifecycle, based on its volume of
business in relation to other industry providers.”
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