RESEARCH SUMMARY SEPTEMBER 2021 - TECHMARKETVIEW
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Research Summary September 2021
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Dale Peters | Report | 30-September-2021 Tania Wilson | Report | 30-September-2021 Georgina O’Toole | Report | 30-September-2021
Public Sector Software and IT IndustryViews Venture Capital UK Central Government SITS:
Services: Suppliers, Trends and Q2 2021 Market & Suppliers 2021-2024
Forecasts 2021-2024 Q2 2021 was a ground-breaking This report provides TechMarketView’s
This report consolidates quarter for VC investment into tech view of the UK central government
TechMarketView’s analysis of the UK companies in the UK and Ireland, software and IT Services (SITS)
public sector software and IT services according to data from Corporate market from a market and supplier
(SITS) market in 2020 and forecasts Finance firm Ascendant. The number perspective. PublicSectorViews
how the market will perform over the of deals grew QoQ 8%, with the subscribers will find TechMarketView’s
period 2021-24. It also contains an value of those deals up by an Top 20 central government SITS
update to our UK public sector SITS astonishing 59% in the same period. rankings for 2020, as well as our view
Top 20 supplier rankings based on the The latest edition of IndustryViews of those suppliers that are ‘on the
latest available financial information Venture Capital has more detail, rise’ and, therefore, threatening to
(as at end of June 2021). Top 20 along with commentary on selected unseat the leading players, and a
rankings for central government UK tech venture funding deals and handpicked selection of suppliers
and Top 10 rankings for each of an exploration of where next for that are worth keeping a close eye
the remaining subsectors are also venture funding into UK technology on, due to their renewed interest
provided. companies. in the sector, recent successes, or
differentiated approach.
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Georgina O’Toole | UKHotViewsExtra | 30-September-2021 Jon C Davies | Report | 29-September-2021 Duncan Aitchison | Report | 28-September-2021
Made Tech makes its debut on The Risk Management UK SITS Consulting Market Trends
AIM Challenge and Forecasts 2021
This month, Made Tech floated on AIM This document is part of This report contains TechMarketView’s
at a share price of 122p. The placing TechMarketView’s AnalystViews series latest market size and forecast data
valued the company at £180m and and discusses the topic of “Enterprise along with an analysis of market
raised net proceeds of £13.2m. Made Risk Management” within financial dynamics and the trends shaping
Tech have been around since 2008 services. It examines how the advent the UK SITS Consulting market.
when CEO Rory MacDonald formed of the pandemic has impacted The report also assesses the key
the company to provide technology the industry via a proliferation of challenges facing suppliers and
services to venture capital-backed additional risks and considers how recommendations. It is part of a
start-ups within the UK. However, technology adoption can help firms series of reports assessing market and
in 2017, the Group shifted its focus to manage the burden. supplier performance that includes
to concentrate on the UK public the SITS Consulting Supplier Rankings
sector market. It’s since then that the and Supplier Prospects reports.
business has really taken off. And its
success on Government frameworks
has landed the company on our
radar.
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Marc Hardwick | UKHotViewsExtra | 27-September-2021 Angela Eager | Report | 24-September-2021 Martin Courtney | UKHotViewsExtra | 23-September-2021
Sutherland targets European UK Enterprise Software Market NCC Group puts pandemic
Growth Trends and Forecasts 2021 behind it to focus on long term
Sutherland is one of the biggest This report contains TechMarketView’s growth
players in US customer experience latest market size and forecast data NCC Group’s FY21 results underpin a
(CX). In 35 years it has evolved from along with an analysis of market company in transition as it recovers
a provider focused on offshore dynamics and the trends shaping from the economic disruption caused
customer services, into a technology- the UK Enterprise Software market. by COVID lockdown measures,
led customer experience practitioner. The report also assesses the key breathes new life into its flagging
While the business has had a UK/ challenges facing suppliers and Software Resilience business and
European presence, it has principally recommendations. It is part of a capitalises on rising demand for
served US/Global clients here and is series of reports assessing market and managed detection and response
less well known. This may be about to supplier performance that includes (MDR) services. We think the worst is
change with Sutherland undertaking the Enterprise Software Supplier probably behind it, and NCC Group
a renewed push within Europe, hiring Rankings and Supplier Prospects is likely to benefit from a wave of
Vishal Bhatnagar to lead the charge. reports. cancelled or postponed projects.
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Georgina O’Toole | UKHotViewsExtra | 23-September-2021 Marc Hardwick | Report | 21-September-2021 Dale Peters | UKHotViewsExtra | 13-September-2021
National AI Strategy: Health & UK Solutions Market Trends & NAO highly critical of National
Defence as exemplars Forecasts 2021 Law Enforcement Data
The UK Government recently This report contains TechMarketView’s Programme
published its National AI Strategy. The latest market size and forecast data The National Audit Office (NAO) has
report acknowledges the significant along with an analysis of the trends published a damning assessment
impact that AI will have over the next shaping the UK Solutions market. It is of the Home Office’s delivery of
decade and beyond. It looks at the part of a series of reports assessing the National Law Enforcement
way that AI can be harnessed to drive market and supplier performance Data Programme (NLEDP). The
economic growth, deliver prosperity, that includes the Solutions Supplier programme to develop the National
and bring social benefits. It is a wordy Rankings 2021 and Supplier Prospects Law Enforcement Data Service
tome that looks at the key resources reports. (NLEDS) was launched in 2016, with
that will be required to ensure the UK the intention of replacing the Police
stays at the forefront of AI innovation. National Computer (PNC) and the
Police National Database (PND) with
one modernised solution.
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Georgina O’Toole | UKHotViewsExtra | 9-September-2021 Dale Peters | UKHotViewsExtra | 8-September-2021 Georgina O’Toole | Report | 3-September-2021
CGI UK holds steady during Health and social care funding Social value in UK central
pandemic plans announced government
In July we reported on CGI’s Q321 The UK Government’s plan for health This report seeks to understand how
results for the period ending 30th and social care does not focus on the the leading suppliers of IT services
June. We noted a decline in the last application of technology in reducing to UK central government are
reported quarter for the UK & Australia the pressures in the system, but it is responding to the new procurement
business unit, of 4.1% to CAN$363.4m, clear that the effective application requirements as defined in the UK
and a decline year-to-date of 1.4% to of digital solutions will have a key role Government’s Procurement Policy
CAN$1.1b. But, as we head towards in addressing the stated challenges. Note ‘taking account of social value
the company’s financial year end, it’s The pressures on the NHS and adult through government’s commercial
worth applying a little more scrutiny to social care were clear prior to activities’.
the numbers. In this UKHotViewsExtra the pandemic, but COVID-19 has
article we dive deeper into the brought unprecedented additional
performance of CGI UK over the last challenges.
two years.
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Richard Holway | UKHotViewsExtra | 1-September-2021 Duncan Aitchison | Report | 31-August-2021 Martin Courtney | Report | 31-August-2021
Share performance in Aug 21 UK Application Operations UK Enterprise Cyber Security
August 21 will be remembered by Supplier Rankings 2021 Supplier Rankings 2021
many for its harrowing scenes from This report contains the Top 20 This report contains the Top 20 UK
Kabul. Elsewhere C-19 infections and Supplier Ranking (by revenue) for the supplier ranking (by revenue) for the
resulting hospitalisations and deaths UK Application Operations market. It UK Enterprise Cyber Security market.
seemed to be increasing. Inflation is part of a series of reports assessing It is part of a series of reports assessing
has reared its head again and could market and supplier performance. market and supplier performance.
lead to increased interest rates. But Revenues presented in this report are Revenues presented in this report
you would never suspect this glancing based on TechMarketView’s own are based on TechMarketView’s
at the Share Index Tables for August. estimates, following our analysis of own estimates, following our analysis
What is certain is that tech is now so annual performance for the financial of annual performance for each
ubiquitous that it is an integral part year ending between 1st April 2020 company for the financial year
of the economy. The only thing that and 31st March 2021. It also includes ending between 1st April 2020 and
will now knock it is a global recession revenue estimates for some of the 31st March 2021. We also include
or depression. Nobody currently is highest-ranking suppliers who report revenue estimates for some top-
predicting either. after March 2021. ranking suppliers who report after
March 2021.
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Tania Wilson | Report | 28-August-2021 Jon C Davies | UKHotViewsExtra | 24-August-2021 Dale Peters | Report | 24-August-2021
IndustryViews Corporate Activity Digital Identity Moves Up the TCS: Reimagining Education
Q2 2021 Agenda Tata Consultancy Services (TCS)
Merger and acquistion activity in With the explosion in online has been working in the education
the UK software and IT services (SITS) commerce there has been increased sector for more than a decade, but
sector fell back during Q2 2021 but recognition of the need for a its recent move to bring together its
remains on a par with activity in Q4 universally accepted standard for extensive experience in the sector
2020 and the pre-pandemic peak identity verification. Off the back of into a single business unit could be
seen in Q2 2019. This is according to this, Jon recently caught up with the a game changer. TechMarketView
data from technology investment team at DIN to learn more about the spoke to Ankur Mathur, who leads
bank Silverpeak. See more in this company’s proposition, fundamental the new Education Business Unit,
edition of IndustryViews Corporate to which is a social purpose firmly and Priyanka Sethi (Head of Sales,
Activity, our quarterly review of the UK based on promoting financial Education and CMI) about TCS’
software and IT services M&A scene. inclusion. education heritage, proposition,
and prospects.
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Anthony Miller | UKHotViewsExtra | 23-August-2021 Anthony Miller | Report | 23-August-2021 Kate Hanaghan | UKHotViewsExtra | 22-August-2021
Interview: Mile Callachan, OffshoreViews Q2 2021 Review Fujitsu Q1 marks encouraging
Founder & CEO, Snappy In the three months ending 30th June start for UK
Shopper 2021, the Top Six Indian Heritage Fujitsu’s Q1 revenue (three months to
Each time I write about Snappy Providers (IHPs) reported their highest end June) came in at 801.9bn Yen,
Shopper, the ‘on demand’ grocery aggregate sequential headcount roughly in line with the comparable
delivery service for corner shops and growth in years. Yet in the same period last year. However, the firm
convenience stores, I like it a little bit quarter a year prior, every single one saw operating profit shoot up 50%
more. I thought it was a great idea of them had reduced headcount. to 33.7bn Yen, with all segments
when I wrote about Snappy’s seed In this edition of OffshoreViews, we experiencing improved profitability.
funding round in November 2019 compare headcount growth with Fujitsu’s UK performance through its
more so after their stonking £19.4m revenue growth for the Top Six players first quarter has proved to be both
Series A round in July this year. Having to see where they are on the eternal steady and positive and we caught
recently had a long chat with founder quest to ‘break linearity’. up with NWE CEO, Paul Patterson, to
and CEO, Mike Callachan, I am hear more about the UK specifically.
positively in love!
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Tola Sargeant | Report | 18-August-2021 Marc Hardwick | Report | 18-August-2021 Marc Hardwick | UKHotViewsExtra | 9-August-2021
Integrated Care Systems - UK Business Process Operations Ten deals and Two exits - Capita
Analysing the opportunity for Supplier Rankings 2021 Scaling Partner 3 years on
tech suppliers This report contains the Top 20 Capita Scaling Partner (CSP) recently
Integrated Care Systems (ICSs) are Supplier Ranking (by revenue) for the announced its tenth investment
set to become an important feature UK Business Process Services (BPS) deal with smart Learning Experience
of England’s health and care system. Operations market. It is part of a Platform provider, Filtered. I recently
But what exactly is an Integrated series of reports assessing market and caught up with CSP Co-founders
Care System? How will they operate? supplier performance that includes John Downes and Matt Bunn, to learn
Which areas are leading the way? BPS Operations Market Trends & more about their latest partnership
And do they represent an opportunity Forecasts and BPS Operations and also to take a look back at
for tech suppliers? It’s a surprisingly Prospects reports, due for publication the progress made at CSP over the
complicated picture and there are later in 2021. last three years and understand
still many unknowns, but these are the what they have learnt building their
questions that we set out to address in portfolio of scale-ups.
this report.
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Duncan Aitchison | Report | 4-August-2021 Jon C Davies | Report | 3-August-2021 Richard Holway | UKHotViewsExtra | 1-August-2021
UK SITS Consulting Supplier UK Financial Services SITS - Share Performance in July 2021
Rankings 2021 Suppliers, Trends and Forecasts The indices we follow do not really
This report contains the Top 20 Supplier This report analyses the business and convey the significance of the
Ranking (by revenue) for the UK SITS technology trends impacting the (largely) Q2 results announced in
Consulting market. At a headline UK financial services industry and July. NASDAQ, TechMark and the
level, the Top 20 UK SITS Consulting includes TechMarketView’s detailed FTSE Software and Computing
suppliers in aggregate grew forecasts for expenditure within the Services Indices all advanced
significantly in 2020. However, stripping associated software and IT services between 1% -3% in July. But all are
out the impact of acquisitions, their (SITS) market. In addition to the still showing impressive gains YTD –
combined revenues decline in line market perspectives, this analysis NASDAQ up 14%, Techmark100 up
with the wider demand contraction also provides a ranking (by revenue) 11% and the FTSE SCS Index up 16%.
in the sector. The report details the of the Top 20 SITS vendors operating All have outpaced the FTSE100 which,
variations in performance across the within UK financial services. with a 9% gain, has hardly been
Top 20 Consulting suppliers. sluggish either.
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Kate Hanaghan | Report | 30-July-2021 Kate Hanaghan | Report | 30-July-2021 Jon C Davies | UKHotViewsExtra | 30-July-2021
UK Infrastructure Operations Infrastructure Operations Embark deal highlights
Supplier Rankings 2021 Supplier Prospects 2021 & increasing role of technology in
Report containing the Top 20 Supplier beyond UK wealth management
Ranking for the UK Infrastructure In “Infrastructure Operations Supplier Lloyds Banking Group (LBG) has
Operations market. It is part of a Prospects 2021 & beyond”, we look announced a deal to acquire digital
series of reports assessing market and at the Top Ten leading players (by wealth management specialist,
supplier performance that includes revenue) in the UK Infrastructure Embark Group for £390m. The “robo-
Infrastructure Operations Market Operations market and assess what adviser” platform currently has around
Trends & Forecasts and Infrastructure they will need to do to be successful 425k retail customers and more than
Operations Supplier Prospects reports. this year and beyond. We also £40bn of assets under administration.
Revenues presented in this report are provide our analysis of the potential Here we highlight the increasing
based on TechMarketView’s own hurdles that will prevent suppliers role of technology in UK wealth
estimates, following our analysis of reaching their potential in the short management, examine the acquisition
annual performance for the financial
and mid-term. and explore some of the other activity
year ending between 1st April 2020
taking place in the sector.
and 31st March 2021.
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Tania Wilson | Report | 29-July-2021 Martin Courtney | UKHotViewsExtra | 29-July-2021 Anthony Miller | UKHotViewsExtra | 28-July-2021
IndustryViews Quoted Sector Q2 BT expands Microsoft voice/ Interview: Francesca Howland,
2021 security partnership to boost Founder & CEO, Bimble
Our quarterly review of the UK collaborative workspace When Anthony Miller wrote about
software and IT services quoted proposition Oxford-based Bimble a couple of
sector with comparative share An updated alliance with Microsoft weeks back, he was curious about
price performance against leading around managed voice and cyber the business model as there was
international software and IT services security services could help BT reverse no obvious source of revenue. He
stocks. recently caught up with founding
the ongoing decline of its Enterprise
CEO, Francesca Howland, who
and Global businesses, which
was keen to explain. Bimble is a
together saw their combined revenue
community portal where people
shrink 11.5% year on year in the
can share their favourite places (e.g.
quarter ending June 2021 according
restaurants, shops, locations, etc)
to a trading update.
with the wider world. It is free to use,
and the venues mentioned don’t pay
anything – yet.
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Marc Hardwick | Report | 27-July-2021 Angela Eager | Report | 27-July-2021 Jon C Davies | UKHotViewsExtra | 26-July-2021
UK Solutions Supplier Rankings UK Enterprise Software Supplier The three Cs driving change
2021 Ranking 2021 across financial markets
This report contains the Top 20 This report contains the Top 20 Supplier The financial markets sector currently
Supplier Ranking (by revenue) for Ranking (by revenue) for the UK accounts for around 17% of all SITS
the UK Solutions market. It is part of Enterprise Software market. It is part spend within UK financial services and
a series of reports assessing market of a series of reports assessing market in 2020 was worth in excess of £2.2bn.
and supplier performance. Revenues and supplier performance that Against this backdrop, technology
presented in this report are based include Enterprise Software Market innovation is increasingly driving
on TechMarketView’s own estimates, Trends & Forecasts and Supplier change as firms look to improve
following our analysis of annual Prospects reports, due for publication competitiveness via operational
performance for each company for later in 2021. The report shows how efficiency, ensure regulatory
the financial year ending between 1st performance varied across the Top 20 compliance and reduce costs, in
April 2020 and 31st March 2021. software suppliers and highlights the particular in respect of post-trade
factors impacting the market during processes.
2021 and beyond.
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Martin Courtney | Report | 22-July-2021 Jon C Davies | UKHotViewsExtra | 22-July-2021 Jon C Davies | UKHotViewsExtra | 20-July-2021
Cyber security in the public Momentum builds for Temenos Recently acquired SSP’s new
sector as banking market accelerates CEO takes the helm
The UK public sector is a unique and Banking software specialist, Temenos, UK insurance software vendor and
important market for cyber security has published an impressive set of broker market specialist, SSP, has
products and services. This report H1 results, highlighting excellent taken another key step on its recovery
analyses the particular threats and performance YTD amid improving journey with the appointment of a
vulnerabilities that public bodies must market conditions. The Swiss vendor new CEO, Colin Greenhill, who took
respond to, considering each sub- reported total global revenue of office on 12 July. The SSP story is an
sector separately, along with current $445.4m, up 11.1% YTD. Momentum intriguing one. For around 15 years,
cyber security policy and procurement builds for Temenos as banking market SSP enjoyed strong growth, however,
trends. It provides a list of top suppliers, accelerates explore the factors following an MBO in 2015, a series of
an estimate of the current market behind Temenos’ current success and damaging system outages occurred
size and recommendations for cyber examines the changes in the market in 2016, denting the company’s
security suppliers wishing to work with for banking technology and how fortunes and impairing its reputation
the public sector. vendors in this sector might respond. amongst its clients and prospects.
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Georgina O’Toole | UKHotViewsExtra | 19-July-2021 Georgina O’Toole | UKHotViewsExtra | 9-July-2021 Richard Holway | UKHotViewsExtra | 1-July-2021
Foundation SP starts its investor Atos Digital Hub launched Share Performance in June 21
journey Over two days of Atos Technology Days Any fears that tech was in for a
We last wrote about Foundation we learnt of the next evolution in Atos’ ‘correction’ certainly did not come
SP in December after it secured strategy. In line with TechMarketView’s to pass in June 21. NASDAQ had
funding from LDC to support its bold ‘Reset & Reimagine’ research theme, a stonkingly good month – rising
organic growth strategy. With LDC’s the company is drawing on its years of another 5.1% making it a 12.7% gain
backing, the aim is to expand its investment in cloud, digital, security, in 2021 YTD. This compared to a flat-
client base, add to its suite of digital and decarbonisation, and turning its lining FTSE100 (up 8.9% YTD). It wasn’t
software and services, and consider attention to ‘digital platforms’. The quite so good for tech here in the
complementary acquisitions. Half a move answers end user demands UK with Techmark 100 flat-lining (up
year on, we caught up with Simon for an accelerated journey to digital, 8.2% YTD) and the FTSE IT index up
Grosse, Foundation SP’s CEO, and Tim more easily consumable products and 4.7% (14.2% YTD). However, there is a
Ebenezer, COO. services, and the desire to leverage the general feeling of optimism that the
value of data across their ecosystems. US and UK are emerging out of the
darkness of C-19.
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