Latest news with #Fortune500
Time of India
3 hours ago
- Business
- Time of India
TPG-owned digital engineering company Altimetrik to acquire SLK Software for $600 million
Synopsis The acquisition will bolster Altimetrik's end-to-end enablement services and expand its customer reach. The combined entity will employ over 10,000 professionals and serve a global customer base of over 150 businesses, including Fortune 500 companies.
Entrepreneur
9 hours ago
- Business
- Entrepreneur
Several Tailwinds Powering ServiceNow India's Growth: Sumeet Mathur
Over the past decade, the company's presence in India has transformed into a microcosm of its global organization. The India team has tripled in size in just two years, with 1 in 3 ServiceNow engineers globally now based in India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tech 25: Sumeet Mathur, SVP and MD, ServiceNow India ServiceNow was founded in 2004 by Fred Luddy with a simple yet powerful vision: to make work easier for people by creating a cloud-based platform that could streamline and automate routine IT service management tasks. It was incorporated as Glidesoft, Inc. in 2003, but formally established and became ServiceNow in 2004. Initially focused on IT Service Management (ITSM), the company offered a modern alternative to legacy systems, enabling faster, more efficient service delivery. Over the years, ServiceNow has evolved into a leading enterprise platform, expanding its capabilities beyond IT to include workflows for customer service, HR, security, operations, and more. Globally, ServiceNow caters to 85 per cent of Fortune 500 companies and closed 2024 with USD 10.27 billion in revenue, marking 19 per cent year-on-year growth. India has played an increasingly pivotal role in ServiceNow's global growth story under the leadership of Sumeet Mathur, SVP and MD, ServiceNow India. Over the past decade, the company's presence in India has transformed into a microcosm of its global organization. The India team has tripled in size in just two years, with 1 in 3 ServiceNow engineers globally now based in India. Engineers and developers make up 85 per cent of the India workforce, which now accounts for over 20 per cent of the company's global headcount. The Hyderabad office has become its largest employee hub worldwide. ServiceNow India supports many of the country's top technology providers and is trusted by four out of India's top five banks. Recently, ServiceNow has introduced new AI innovations that drive real productivity gains. Unlike many AI agents trapped in isolated silos – like chatbots limited to CRM apps – ServiceNow believes its AI agents are deeply integrated across the entire enterprise. Mathur believes ServiceNow stays ahead of the curve by consistently innovating its platform, investing in AI and automation, and staying closely aligned with customer needs. "Central to this strategy is putting AI to work for people – using generative AI and machine learning to make work more intuitive, intelligent, and efficient across the enterprise," he says. In addition to a favourable technology environment, there are several tailwinds powering ServiceNow India's growth. With over 1,600 global capability centres (GCCs), the country is home to some of the most digitally mature hubs driving cutting-edge innovations – areas where ServiceNow is uniquely positioned to lead. "India is undergoing a remarkable transformation – from a labour-driven economy to an AI-first powerhouse – and is poised to become the world's third-largest economy by 2027. We are seeing strong momentum, with four of India's five largest banks leveraging our platform and an 80 per cent growth in our partner ecosystem over the past year. The next frontier is manufacturing, where we aim to drive global competitiveness through digital transformation. At the same time, India is emerging as a key player in the global shift toward Agentic AI. ServiceNow is uniquely positioned to lead this evolution," says Mathur. Company Facts: Year of Inception: 2004 Current Employee Count: 26,698 employees globally as of Q1 2025; 20% of global workforce based in India Major Clients: LTIMindtree, Wipro, Infosys, Poonawalla Fincorp, Mindsprint Any IP developed/patented: 2,247 total patents (granted) assets globally
Forbes
17 hours ago
- Business
- Forbes
5 Reasons The Best Leaders Are Also Great Mentors
A serious African-American businessman with glasses explaining something to his beautiful Japanese ... More coworker while they are sitting at the desk. (mentorship concept) In studying the patterns of high-growth companies and the most effective leaders, one truth becomes undeniable: mentorship isn't just a support mechanism—it's a strategic multiplier. The most impactful leaders rarely scale alone, and they don't expect their teams to either. That's why 84% of Fortune 500 companies—and every single one of the Fortune 50—have formal mentorship programs, according to Mentor Loop. Top-tier organizations recognize what many still overlook: mentorship isn't a 'nice-to-have'—it's a foundational element of talent development, performance optimization, and retention. In fact, the most financially successful leaders I've encountered tend to be those who deliberately cultivate the growth of others. They mentor with purpose, lead with clarity, and see wealth not just as personal gain—but as collective advancement. Coaching Is the New Core Leadership Skill As the demands on leaders evolve, so too must the skillsets they bring to the table. The ability to coach and mentor effectively is no longer reserved for HR or development professionals—it's a non-negotiable leadership capability. In today's environment of hybrid teams, rapid change, and mounting complexity, employees need more than direction. They need guidance, perspective, and someone invested in their long-term success. The best leaders don't just delegate—they develop. They ask better questions. They provide frameworks for thinking, not just answers. They unlock potential by creating space for reflection, risk-taking, and recalibration. And as coaching becomes embedded in leadership cultures, the impact is felt at every level—from confidence in the C-suite to engagement on the front lines. Mentorship as a Strategic Growth Engine Far beyond informal advice, mentorship—when structured effectively—acts as a growth engine for both individuals and organizations. It shortens the learning curve, reduces the cost of trial and error, and fosters a culture of knowledge transfer and continuous learning. It also expands the mindset of team members from execution to ownership. Mentorship accelerates mastery—whether in finance, operations, or leadership—and replaces short-term fixes with generational impact. The best leaders and highest achievers are life-long learners. They seek knowledge across many different spheres. 'Financial education changed my life,' shares Flora Gabrielyan, a financial entrepreneur and mentor who leads a network of more than 200 licensed agents. 'It helped me realize that when people are financially informed, they don't just survive—they build legacies.' This applies equally to our personal lives and in our professional responsibilities, especially for people leaders. High-Performers Seek Mentors Across All Domains Mentorship isn't just about climbing the corporate ladder. Top performers actively pursue guidance across every dimension of life: health, wealth, career, family, spiritual growth, and beyond. They understand that performance is holistic—and the mentors they seek reflect that integration. From financial literacy to mental resilience, from scaling companies to scaling fulfillment, elite professionals invest in mentorship because they understand that the right guidance is worth more than any paycheck. Rishi Khosla, CEO and co-founder of OakNorth Bank, says in a recent article, 'If you're seeking mentorship, you should be open to guidance many different people—not just those within your industry or sphere.' I agree. I spent seven years as a member of the CEO mentoring organization Vistage, where a key principle is industry diversity—each chapter is intentionally composed of leaders from different sectors to foster fresh perspectives, challenge assumptions, and accelerate growth through cross-industry insight. World-Class Companies Design Mentorship Into Their DNA Forward-thinking organizations don't leave mentorship to chance. They architect it into their operating systems—with structured programs, cohort-based development, and ongoing coaching embedded into team rhythms. They equip managers to become internal coaches, and they scale culture by developing leaders who lead others. That shift—from performer to multiplier—is at the heart of mentorship's power. It's not about creating dependence. It's about developing capability and confidence that cascades through entire organizations. Mentorship Isn't Altruism—It's Smart Strategy Helping others grow isn't just the right thing to do—it's the profitable thing to do. Organizations that embed mentorship see higher engagement, better retention, and stronger succession pipelines. Individuals who mentor others deepen their own expertise and expand their influence. And mentees become ambassadors for the culture and future of the company. 'One of the biggest benefits of having a mentor,' says Moe Nawaz, author and advisor to Fortune 100 leaders, 'is gaining access to insight forged through experience. Mentors help you avoid unnecessary missteps, identify unseen opportunities, and act with greater precision and confidence.' The future belongs to leaders who don't just manage performance—but elevate potential. To coach, mentor, and multiply talent is to future-proof your business and your legacy. So ask yourself: Are you mentoring someone who could one day replace you? If the answer is yes, then you're not just leading—you're building a legacy. One capable, confident, purpose-driven team member at a time.
Forbes
a day ago
- Business
- Forbes
The Organizational Mistake That Can Stall New Product Success
Ryan Gray is Co-Founder and CEO of SGW Designworks, a product engineering and design firm featured in The Lean Startup. Should your engineering department be doing product development? Two decades ago, when I was employed by a fortune 500 company within their new product development group, I was immersed in big-budget projects with massive cross-functional teams. Those projects often focused on developing a new product, as well as the technology to manufacture it—in parallel. In that setting, the business made a clear distinction between staff focused on engineering versus those focused on Product Development. Today, I've got sixteen years of experience working with smaller and mid-sized businesses to develop new products. The businesses we work with are typically not running multiple new product development projects with eight-figure budgets in parallel like a Fortune 500 might. Instead, they are trying to get the most out of each talented team member. In these businesses, we often see leaders intentionally conflate engineering departments with new product development teams. Why does this happen? There are a few drivers: • Businesses hire engineers to provide field support, incrementally improve the product line and get the most out of manufacturing processes. On paper, these engineers have the skills to develop new products as well. • SMBs are resource-constrained: sometimes by cash, sometimes by talent pool limitations. It becomes the norm for team members to wear multiple hats. • Leadership recognizes that the engineering team that supports the product line is probably the group most knowledgeable about the product, how it's made, and its weaknesses. It would seem that this positions them well to create the next generation of product. These drivers lead to organizational structures that ignore the important differences in the skills required to support a product line versus the work required to create new tech, features and products. Let's dig deeper: Characteristics Of A High-Performing Engineering Team The most effective engineering teams I've worked with focus on solving product or manufacturing problems to help enable sales growth. This means supporting users, making product changes (and related manufacturing changes) to address product shortcomings, and cost-optimizing at the product and process level. This type of team thrives in situations with defined constraints, where the problems to solve are measurable. Characteristics Of A High-Performing Product Development Team Product development teams with a high rate of success (meaning launched, profitable products) focus on understanding use cases, challenging assumptions about feature sets, figuring out what's possible with today's tech (and what will be possible with tomorrow's), running disciplined regimens of experiments, navigating product feature pivots and aligning the product manufacturing path to business goals. This team runs with less defined, more exploratory work. And while engineers often play a key role in executing it, effective new product development requires a different mindset: one that balances creativity, technical experimentation and business acumen. The Risk Of Combining Roles Is there overlap between engineering and product development? Certainly. But people who excel in one area are often less effective—and less satisfied—in the other. Engineering tends to reward precision and predictability. Product development, on the other hand, demands comfort with failure, iteration and shifting targets. When one team is responsible for both supporting existing products and creating new ones, it creates organizational drag. Prioritization becomes murky. People gravitate toward what's familiar. Sales support requests, field issues and manufacturing challenges will almost always displace exploratory design and prototyping. The end result? New product efforts can stall. Building The Right Structure Successful new product development in SMBs requires explicit role clarity, even if the teams are small. That doesn't always mean building two separate departments—but it does mean being deliberate about expectations, timelines and resource allocation between engineering and new product development efforts. Some practices that help: • Define clear responsibilities for roles in engineering and NPD separately, especially if the same people contribute to both. • Set aside focused time and resources for product development efforts that's protected from daily operational noise. • Ensure leadership understands the trade-offs involved in dual-role assignments. • Consider using an outside team for your new product development efforts, keeping the internal engineering team focused on their critical responsibilities. Good new products don't typically emerge from your engineering department. In fact, assuming they will—without providing the time, tools and team structure to support true product development—can quietly sabotage your growth strategy. Ask yourself this: Are you expecting your engineers to innovate while they're busy keeping the existing product alive? If the answer is yes, it may be time to rethink your structure and resourcing plan. Product development deserves its own space. Without it, even the best ideas may never make it off the whiteboard. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Time Magazine
2 days ago
- Business
- Time Magazine
TIME100 Most Influential Companies 2025: DeepL
DeepL's more than 200,000 customers include governments and half of the Fortune 500. The German startup says its AI-powered translation tools are more accurate and better able to capture specific industry context (and terminology) than competitors. Most employees working at DeepL headquarters in Cologne—a few hours from Belgium, France, and the Netherlands—are multilingual, giving the company an edge in 'knowing better what the customer needs,' says founder and CEO Jaroslaw Kutylowski. To bridge language barriers during meetings, DeepL last year released a product offering real-time voice-to-text subtitle translations. With Korean, Arabic and Norwegian now in the mix, the company's proprietary large language models—which also support business writing tools—now work in 36 languages. Correction, June 26 The original version of this story misstated the number of languages that DeepL supports. It is 36, not 32.
