Global IT and BPO deals hit record USD9.5bn in Q3

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Companies around the world signed IT and business process outsourcing (BPO) deals worth a record USD9.5bn in annual contract value in Q3 of this year, according the Information Services Group (ISG). According to the quarterly outsourcing index released by ISG, traditional outsourcing contracts were up 5% to USD5.8bn while the fast-growing as-a-service segment increased 20% to USD3.7bn. The report said cloud services lifted the IT outsourcing market higher than expected in Q3. In the Asia-Pacific region, as-a-service contract value has surpassed that of traditional IT services deals. With the Q3 results, ISG revised its annual outsourcing forecast upward, from a flat market to anticipated gain in the mid-single-digits for traditional outsourcing and well above 30% in the as-a-service market.