Devhd has reported solid financial progress through the first eight months of 2024, keeping it on track to achieve a 25% revenue increase by year-end.
UNITED KINGDOM, November 19, 2024 /EINPresswire.com/ -- Devhd continues to drive innovation with ServiceNow solutions, focusing on projects that enhance IT automation, governance, and compliance capabilities for enterprise clients. Adrian Herdan, CEO of Devhd, shared insights into the company’s robust 2024 performance and ambitious growth trajectory in a recent interview.1. In February, you mentioned a goal of 25% revenue growth for 2024. How have the first eight months of the year been financially and in terms of project volume for Devhd? Are you maintaining this growth target for the year?
Despite some challenges on both the local and international IT markets, we've managed to keep Devhd on solid financial ground. Data through September indicates an increase in revenue, giving us confidence that we can reach our business target for this year.
2. How has Devhd’s presence evolved in international markets? Have you expanded into any new regions beyond the DACH area?
With our latest contract in the financial sector, we’ve entered the UK market, a global financial services hub. Successfully completing this project will provide a strong reference for further expansion and client acquisition in this market over the coming years.
3. How would you describe the current state of the IT industry? What are the key trends and challenges, and how is Devhd adapting?
Geopolitical dynamics and technological advances mean the IT industry is in constant transformation. The rapid rise of AI, for instance, is ushering in a new Industrial Revolution. We’ve adjusted by strengthening existing projects, redoubling our client acquisition efforts, and focusing on innovation, particularly through our own solutions built on the ServiceNow platform. A recent example is AuditUp, launched on the ServiceNow marketplace, which provides real-time monitoring of privileged access activities to enhance audit compliance and visibility, addressing requirements like SOX compliance.
4. With the rapid evolution of artificial intelligence, how have client requirements changed over the past year? What new challenges or opportunities have emerged?
AI has evolved from basic automation to complex systems that can learn and generate new content. Predictive intelligence, document intelligence, natural language understanding, and computer vision algorithms have been in IT for some time, used across various industries such as sales, autonomous vehicles, agriculture, and healthcare. Generative AI (GenAI), which mimics human interaction and communicates naturally, has greatly expanded AI’s application potential, driving efficiency and productivity gains. ServiceNow has integrated GenAI into its entire solution portfolio, empowering agents, IT admins, managers, developers, and customers with advanced tools. Companies that adopt GenAI can already see financial returns, which justify the investment and offer a substantial competitive advantage. At Devhd, we work with ServiceNow specialists to support clients in identifying optimal GenAI solutions for automating workflows and IT/business processes. However, this new technology presents challenges around accuracy, data security, and privacy, which we are tackling with our clients.
5. How do you see the future of the IT industry with the rise of GenAI? How can companies leverage this technology?
AI is already embedded in personal and complex business applications. Market studies show that the global AI solutions market could reach $1.3 trillion by 2030, growing by over 35% annually. Further, every $1 invested in AI is expected to generate over $3.5 in revenue.
GenAI could automate up to 70% of business activities across sectors by 2030, adding trillions to the global economy, according to McKinsey experts. This technology is likely to evolve further, transforming workflows and business processes across all fields. Companies adopting AI solutions early will gain significant advantages through increased productivity, efficiency, and cost reductions across all sectors.
Predicting the future of GenAI is challenging, but it may lead to new professions, industries, and even more time for creative and recreational activities.
6. What are the primary challenges for companies in complying with DORA? What should companies know about the EU’s Digital Operational Resilience Act (DORA) for financial services?
Financial services organizations have limited time to comply with DORA, with a deadline of January 17, 2025. Compliance is estimated to take about six months, so projects need to be underway. DORA mandates capabilities to protect, detect, contain, recover, and remedy IT services in the event of cyberattacks or technical issues. The regulation applies not only to banks but also to insurance companies, investment firms, and crypto service providers.
Digital operational resilience is a comprehensive governance program, requiring time and a prioritization of key actions. Companies behind schedule should focus on identifying critical IT services and assets, as well as key risks and vulnerabilities.
Adopting ServiceNow solutions simplifies these requirements, enabling organizations to comply with DORA efficiently. The platform centralizes critical IT assets, enables swift risk and security policy implementation, and tests operational resilience. Through automated IT governance and security processes, ServiceNow helps organizations minimize non-compliance risks and streamline operations, enabling a quick response to DORA’s regulatory challenges.
Lorena Hodrea
Devhd
+40 737 234 771
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