The latest firm to receive the coveted HFS Challenger accolade is Innova Solutions, thanks to its heritage of delivering workforce management solutions, which gives it access to top talent and, more recently, its notable pivot toward digital transformation-based projects.
Founded in 1998, Innova Solutions is a US-based technology and talent management solutions provider. The firm historically operated under its catalog of subsidiaries, driven by its rich history of mergers and acquisitions, which is why, despite reporting almost $3 billion in annual revenue, enterprises might not have heard of Innova Solutions. More recently, the provider has been pulling the pieces together to create one clear vision, purpose, and strategy under the Innova Solutions brand. Innova Solutions’ vision is to help clients accelerate innovation as a technology partner while standing by its values—integrity, transparency, pursuit of excellence, and giving back to the community.
Innova Solutions has a rich history of providing workforce management solutions, primarily through its HireGenics and Volt offerings, which deliver staffing, outsourcing solutions, and IT infrastructure services. Innova Solutions believes the driving force behind its success is its ability to attract and retain top talent—which it describes as its “superpower.” The company doesn’t just operate offshore; Innova Solutions boasts an impressive nearshore presence, particularly in North America, which drives 80% of the provider’s revenue.
HireGenics and Volt are tried-and-tested offerings. One of Innova Solutions’ clients was responsible for sourcing thousands of COVID-19 testing kits with little notice. Innova Solutions helped it execute the project by onboarding more than 2,000 employees in IT and operations and ramping up production in just eight weeks to execute the project. Innova Solutions advises that approximately two-thirds of its business is talent management and staff augmentation.
Today, around one-third of Innova Solutions’ business is driven by project-based digital transformation engagements. That portion is set to grow exponentially in the coming years. Innova Solutions found a sweet spot between engineering and IT services with innovation and capabilities covering foundational, advanced, and industry-aligned services with a focus on value delivery rather than complexity. It achieves this by bringing its IT and core engineering streams together. Innova Solutions’ offerings include digital engineering, cloud, data, analytics, automation, and cybersecurity, and go beyond the CIO’s budget by leveraging different frameworks and modules along with partner technologies to offer comprehensive solutions.
The core hybrid cloud management and data science platforms are case-based for different areas and have full life cycle support and use case development. Innova Solution’s capabilities on cloud and data analytics modernization focus on business models, systemizing operations, modernizing legacy systems, large-scale migration, and innovation. The engineering horizontal service line supports the product life cycle with the capability to collaborate with business requirements and R&D.
These robust offerings are complemented by a focused vertical strategy, nurturing deep domain expertise in key industries such as manufacturing and automotive, high tech, healthcare and life sciences, and financial services. While healthcare, financial services, and manufacturing remain Innova Solutions’ largest verticals, the provider has invested in growing its other vertical capabilities, as evidenced by the clients it has quickly acquired.
Specifically, Innova Solutions is incubating expertise in the travel, transport, and hospitality (TTH) sector, and it is investing in retail and CPG (RCPG) and energy and utilities (E&U) as emerging verticals. With industry expertise and strong digital engineering capabilities spread across verticals, Innova Solutions often adopts outcome-based delivery models. The strategy clearly resonates well with clients, as Innova Solutions advised a consistent 25% year-over-year revenue growth since 2018, driven by organic and inorganic growth.
Moving forward, the leaders at Innova Solutions aspire to be the go-to partner for enterprises looking beyond traditional Tier 1 providers to smaller, more nimble partners—but not just for talent management and staff augmentation. In the next two years, executives predict most new revenue will be driven by digital transformation engagements. They have their sights set on hitting $5 billion annual revenue, meaning they’re projecting impressive growth in digital transformation deal wins.
To achieve this revenue target, Innova Solutions plans to double down on its verticalized go-to-market, bringing its catalog of solutions and a rich ecosystem of partners, which includes AWS, Microsoft, SAP, Snowflake, and Google. Innova Solutions advises it plans to expand its partner ecosystem further to respond to growth opportunities in new verticals. Additionally, Innova Solutions has developed key accelerators and platforms spanning cloud ecosystem management, order-to-cash, payments, and data science. This strategy, combined with the provider’s existing access to nearshore talent, positions Innova Solutions well for impressive growth.
HFS has identified the capabilities Innova Solutions developed from its background in workforce management, combined with its digital transformation offerings in design services, IoT solutions, hybrid cloud, cybersecurity, and IT application maintenance and its BOT (build, operate, transfer) model for GCCs (global capacity centers) as key differentiators. As Innova Solutions pivots to winning more transformation deals, its access to global talent and nearshore presence with a tried-and-tested ability to scale operations quickly to meet client demands will give the provider an edge that could significantly benefit clients.
In addition, because Innova Solutions is a privately held minority-owned business, it often gets priority when bidding for public and private contracts—positioning it well for growth on its pivot toward more digital transformation-based projects. In addition, Innova isn’t shackled by quarterly earnings cycles like its public competitors, enabling greater agility and increased investment potential.
Innova Solutions presents an interesting prospect for enterprises, particularly those in North America, and it should be near the top of their shortlists. Beyond the fact that Innova Solutions is already competing with Tier 1 providers, demonstrating its credibility, the combination of nearshore presence with deep domain expertise means the provider can help enterprises navigate industry-specific and location-specific nuances and challenges. Its new deal wins across key verticals prove it.
Given its renewed focus on digital transformation and quest for aggressive growth, the golden window is open for enterprises to build a relationship with Innova Solutions, benefit from the flexibility of a challenger, help it refine its new go-to-market, and join the company on the growth journey. Partners will benefit from its private ownership, addressing unique requirements through personalized solutions that Innova’s publicly owned peers would be unable to deliver.
Register now for immediate access of HFS' research, data and forward looking trends.
Get Started
If you don't have an account, Register here |
Register now for immediate access of HFS' research, data and forward looking trends.
Get Started
