by admin | May 25, 2021 | Corporate, Corporate Reports
Bengaluru, (IANS) Indian IT major Infosys has set a goalpost of $20 billion in revenue with and operating margin of 30 per cent to be achieved by 2020, said Chairman R. Seshasayee on Saturday.
“Vishal Sikka, our CEO and his management team have articulated a strategy to achieve $20 billion in revenue by year 2020 with a 30 per cent operating margin and $80,000 in revenue per employee,” he said at the 35th annual general meeting.
Terming the four-year targets to be aggressive and ambitious, Seshasayee said Infosys board strongly believes that these are eminently achievable through game changing initiatives, with the course not being easy.
The chairman said that the said goals must also be viewed in the context of significant external and internal challenges.
“Markets are volatile, business models are changing rapidly, new capabilities need to be built and the organisation needs to adapt with great agility,” he said.
According to Seshasayee, digital technology is having a phenomenal impact on businesses around the world and creating exciting and viable new opportunities for Infosys to parent with clients.
“However, capitalising on this opportunity requires a strong focus on innovation and collaboration.
“At the same time, there has never been a greater imperative to embrace technology to counter the downward pressures on pricing, resulting from commoditisation of traditional software services, in order to maximize efficiencies and reconfigure our solutions,” he added.
by admin | May 25, 2021 | Markets, Technology
Bengaluru, (IANS) Software major Infosys has developed a knowledge-based artificial intelligence (AI) platform to drive automation and innovation for its global clients.
“The platform Mana brings machine learning with knowledge of an organisation to drive automation and innovation for enabling businesses reinvent their (computing) systems,” the company said in a statement on Friday from San Francisco.
Using the platform, the Indian bellwether improved productivity of a unspecified company with a fleet of field engineers by 50 percent by utilising its self-learning capabilities.
“The platform enabled a global telecom firm to reduce 80 percent of its agents’ entry effort by automating order validation and removing need for corrective processes,” the statement asserted.
Elaborating on multiple benefits of Mana, Infosys chief executive Visha Sikka said, “We can automate the repetitive, mechanizable tasks; we can capture the knowledge and know-how across people and long-lived systems and bring this knowledge back inside the systems to drive more value; and in doing these things we can free people to put all of our creativity, passion, and imagination into thinking about the bigger opportunities ahead of us.”
Based on open source technology, Infosys Mana is an integration of data analytics platform Infosys Information Platform, routine logic learning Infosys Automation Platform and knowledge processing Infosys Knowledge Platform.
Mana is a part of Infosys Aikido framework which can enable companies to execute non-disruptive transformation of their existing landscapes.
by admin | May 25, 2021 | Economy, Markets, News, Technology
Bengaluru:(IANS) Global software major Infosys Ltd on Thursday appointed noted investment manager Punita Kumar Sinha, wife of union Minister of State for Finance Jayant Sinha, as an independent director on its board.
In a regulatory filing to the Bombay Stock Exchange (BSE), the IT bellwether said Punita Kumar Sinha was appointed as an independent director with effect from Thursday.
Her appointment comes in place of Carol M Browner, who resigned as a board member on November 2015.
In a brief profile in the filing, the company, however, did not mention that Punita’s husband is a minister in the the central government.
Sinha is the son of former finance and external affairs minister Yeshwant Sinha in the previous NDA government (1999-2004) and Punita Sinha is former senior managing director at The Blackstone Group.
The news about the appointment came on one line on page four of the seven-page press release on its third quarterly results under “Board Changes” and had no detail about her.
Punita Sinha is also a founder and managing partner of Pacific Paradigm Advisors, an independent investment advisory and management firm, focussed on Asia.
Her appointment and its announcement without details came under flak in the social media, as she is a wife of a union minister with an important portfolio (finance).
Congress MP Rajeev Shankarrao Satav tweeted: “Infosys Appoints Punita Sinha, Wife of Jayant Sinha, as Director. Clear case of #Nepotism?”
“Her Husband has a Day Job ‘Union Minister of State, Finance’ and She is privy to Govt’s Financial Policies,” said user Pankaj Tiwari.
Besides Punita, outgoing independent director Jeffrey S Lehman was re-appointed for a two-year term from April 14, 2016.
by admin | May 25, 2021 | Corporate, Corporate finance
Infosys SEZ Campus (Trinfy Campus)Photo credit: wikimapia.org
Bengaluru:(IANS) Global software major Infosys Ltd will offer its flagship Finacle product to service US banks’ Verizon cloud platforms.
“We will offer solutions to US banks and financial institutions through the software-as-a-service (SaaS) model, which is serving 547 million customers worldwide,” the city-based bellwether said in a statement on Friday.
The US-based Verizon Communications operates the country’s wireless network with 109 million retail connections nationwide. Its enterprise solutions arm helps clients to improve performance and manage risk using multiple platforms over its secure mobility, cloud computing, and networking.
“Our financial services provide a single real-time view of customers, members, products and transactions. We help banks and credit unions to enhance operational efficiency, speed to market for new offerings and reduce time and cost of compliance,” Infosys vice-president Michal Reh said on the occasion.
Finacle’s SaaS offering will empower financial institutions to deliver a multichannel experience to customers, without much capital infusion and greater flexibility.
“As providing real-time and compelling customer experience across multiple channels is a difficult task even for financial institutions (FIs), Finacle solutions on Verizon cloud will be able to provide banking services to their customers without major investment,” Reh said.
Flexibility of the service helps financial institutions comply with evolving federal and state statutory requirements.
“FIs will benefit from Finacle’s solution coverage and high-performance platform hosted on our cloud to help improve agility, achieve sustainable, profitable growth and drive their business,” Verizon vice-president Adam Famularo said on the occasion.
