About Us

About Us

Tech Research For You

Founded in 2024, GR20 Research is an independent research producer specialising in the Software and IT Services ecosystem.

GR20 Research produces an in-depth research product that helps clients understand and evaluate the players in the Software and IT Services ecosystem.

GR20’s research approach is to focus on what is moving the needle in the IT industry, e.g. business model migration to software-as-a-service (SaaS) and subscriptions from perpetual licensing, and how software/SaaS vendors and IT Services firms adapt their strategy and business model to artificial intelligence.

GR20’s research notes are published on several independent research platforms (IRF, Smartkarma) and the My Cup of IT newsletter on Substack.

In addition, we can outsource your tech equity research reports, tailored to your needs, from ideation to pre-publication.

Finally, we challenge entrepreneurs on their business plans and prepare valuation brochures for them, in cooperation with their advisors. 

Our Services

SaaS Transitions

We keep and eye on all listed software and SaaS companies listed in North America and in Europe, and have identified the different ways to move traditional licensing models to SaaS and subscriptions.

AI Impact

We monitor the stage of integration of GenAI and agentic AI in the offerings of Software, SaaS and IT Services firms. We evaluate the impact of AI on their businesses.

And More…

Any new technological evolution may have some impact to the business of Software and SaaS vendors and IT Services companies: IoT, Metaverse, Quantum Computing, etc. We provide insight on what’s next for Software and IT Services companies.

Who Is GR20 Research?

Founder & CEO

Gregory Ramirez

Founder & CEO

Gregory Ramirez is the founder and owner of the research company GR20 Research. He brings 25+ years of experience as a sell-side equity analyst covering Software and IT Services firms. He has acquired over the years a thorough knowledge of the strategy, competitive environment, industry catalysts, valuation and financial analysis of these companies. Prior to founding GR20 Research, he had been working for Bryan Garnier for 17 years, of which most recently as Director, Software & IT Services of BG IRIS, Bryan Garnier’s equity research brand. On top of his public equity coverage, he oversaw and produced numerous industry white papers. Before Bryan Garnier, Gregory had worked for 9 years as an equity analyst at ING Securities, Arkeon Finance, Oddo & Cie, and Natexis Capital. Gregory holds a Master’s degree (DEA) in Banking and Finance and a Bachelor’s degree in Economics from Aix-Marseille University. He has been a member of the French Financial Analysts Society (SFAF) since 2005. 

In-depth research on the IT ecosystem

From SaaS to AI

Our research evolves with time and according to your needs. Some are interested in business model transition to subscriptions and SaaS, others go further and are interested in the impact of GenAI and agentic AI to the business model of software/SaaS vendords and IT Services firms. Finally, frontrunners are starting to investigate on what does quantum computing imply for the IT industry. We are at your disposal to talk about it, and produce research tailored to your needs.

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Research for You

On top of research notes published on independent research platforms, we produce bespoke industry and equity analysis tailored to your needs.

Public Equity Investors
Private Equity Investors
Wealth Managers
Family Offices
Corporates

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