BENGALURU, India - L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global digital engineering and R&D services company, has been recognized as a Top 15 Sourcing Standout by Information Services Group (NASDAQ:III) (ISG). The company achieved this distinction in the Breakthrough 15 category globally, as well as in the Americas and Asia Pacific regions, based on the annual contract value won in the past year.
The recognition comes from the 1Q 2024 Global ISG Index™, which is a respected quarterly review that tracks the latest data and trends in the sourcing industry. The Index categorizes top commercial providers based on their revenue sizes in various regions.
LTTS's President-Sales and Executive Director, Alind Saxena, acknowledged the honor as a reflection of the company's dedication to quality, customer satisfaction, and technological advancement. He credited the achievement to the collective efforts of the company's stakeholders, customers, and employees.
The company has seen significant growth across different sectors and geographical areas, with a strong focus on R&D and digitalization of engineering services. A part of its success is attributed to investing approximately 2% of its annual revenues in sustainable growth and innovation. Additionally, LTTS's strategic approach, termed "6 Big Bets," has been instrumental in differentiating its services and accelerating product development.
In preparation for future growth, LTTS is implementing a 'Go Deeper to Scale' strategy, reorganizing its structure into three segments: Mobility, Sustainability, and Hi-Tech. This reorganization aims to enhance domain specialization, expedite decision-making, and foster innovation to deliver increased value to customers worldwide.
The company's inclusion in the ISG Index™ is based on the business data submitted by LTTS to ISG each quarter. Paul Reynolds, Chief Research Officer of ISG, recognized LTTS as a significant and growing entity in the global market for Engineering Research and Development (ER&D) services, emphasizing its role in digital engineering and technology services throughout the product and process development lifecycle.
This article is based on a press release statement.
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