L&T Technology Services Ranked as Top 15 Sourcing Standout by ISG

L&T Technology Services Ranked as Top 15 Sourcing Standout by ISG
L&T Technology Services recognized as a Top 15 Sourcing Standout by ISG, highlighting its significant growth and strategic focus on R&D and digital engineering services.

L&T Technology Services Limited (BSE: 540115, NSE: LTTS) has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a global technology research and advisory firm.

Key Highlights:

  • LTTS recognized in the Breakthrough 15 category globally for annual contract value (ACV) won in the past year.
  • The company also received recognition for the Americas and Asia Pacific regions.
  • ISG Index™ provides an independent quarterly review of the sourcing industry, naming top providers in various revenue categories.

Recognition Details

LTTS was featured in the Breakthrough 15 category globally based on ACV won over the last 12 months, according to the 1Q 2024 Global ISG Index. The company also received similar recognition for the Americas and Asia Pacific regions.

The ISG Index™, now in its 86th consecutive quarter, is an authoritative source for marketplace intelligence on the global technology and business services industry. It names the top 15 commercial providers in various revenue categories across the Americas, EMEA, and Asia Pacific regions.

Statement from LTTS

Alind Saxena, President-Sales and Executive Director at LTTS, commented, “Being chosen as a Top 15 Sourcing Standout reflects our commitment to excellence and innovation in technology services, focusing on R&D and the digitalization of engineering services. We extend our gratitude to our stakeholders, customers, and employees.”

Growth and Strategy

LTTS has experienced significant growth driven by its engineering heritage and multi-vertical expertise, resulting in improvements in revenue and a strong compound annual growth rate (CAGR). The company’s strategy includes investing in reusable tech assets and solutions, allocating around 2% of its annual revenues to drive sustainable growth.

The company’s ‘6 Big Bets’ have played a crucial role in enhancing competitive differentiation and accelerating product development. LTTS is pursuing a ‘Go Deeper to Scale’ strategy, streamlining into three segments: Mobility, Sustainability, and Hi-Tech. This structure aims to empower leaders, facilitate faster decision-making, and improve domain specialization.

ISG’s Perspective

Paul Reynolds, Chief Research Officer of ISG, said, “LTTS continues to establish itself as a leading 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 business volume in relation to other industry providers.”

About the author

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Shweta Bansal

Shweta, a tech journalist from New Delhi, specializes in AI and IOT. Her insightful articles, featured in leading tech publications, blend complex tech trends with engaging narratives, emphasizing the role of women in tech.

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