Parekh says clients leveraging generative AI capabilities and Cobalt cloud
Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) says a dedicated centre for aerospace engineering excellence in Richardson, Texas, will develop cross-functional solutions to help manage pressing business challenges in the aircraft development lifecycle.
The centre is Infosys’ collaboration with Spirit AeroSystems, headquartered in Kansas.
Spirit AeroSystems Senior Vice President, Chief Technology Officer and Chief Engineer Dr. Sean Black said, “The strategic collaboration with Infosys in Richardson will leverage the talent pool in the North Texas region and create a dedicated center for aerospace engineering excellence to cover the complete aircraft development life cycle for both new derivatives and in-service aircraft.”
Further, Infosys has entered into a collaboration with smart Europe GmbH for five years to bring sustainable electric mobility to customers, according to the company’s 3Q report released 11 Jan 2024.
Dirk Adelmann, Chief Executive Officer of Germany’s smart Europe GmbH, elaborated, “Infosys’ strong leadership commitment backed by its ability to drive end-to-end application development and maintenance with efficiency and effectiveness, will help us boost our operational performance and user experience.
“We are pleased to have Infosys as our partner on this journey.”
The report also had Infosys announcing a strategic long-term collaboration with TK Elevator (TKE) of Manchester to help consolidate, harmonize and modernize their digital landscape.
Susan Poon, Global CIO at TK Elevator, said, “Technology empowers our employees and business associates to deliver high-quality services to customers and users across the value chain.
“We are delighted to significantly expand our collaboration with Infosys, which brings end-to-end digital transformation capabilities, helping us accelerate our business transformation and to realize our strategic vision.”
Infosys continued its international network development saying its collaboration with LKQ Europe is to help integrate and standardize their disparate business processes and systems, to enable synergies and achieve economies of scale.
LKQ Europe CEO Varun Laroyia said, “At LKQ, we are constantly enhancing our market leading position. This project is an extension of our original program and focused on building a more streamlined and impactful organization. With Infosys as our strategic partner, we are aiming to reduce complexities, increase efficiency and leverage our strengths.
“This will allow us to upgrade our focus on customer-centricity, ensure best in class customer experiences and further excel our top position.”
Infosys is also helping enhance Spotlight Retail Group’s customer growth via an omnichannel digital fulfilment and advanced analytics platform leveraging Infosys Topaz.
Tal Lall, Group General Manager, Digital and Omnichannel, Spotlight Retail Group of Australia, shared, “At Spotlight Retail Group, we are committed to continuously optimize customer experiences as one of our key competitive differentiators. One of the ways that we’ve done this is through greater investment in personalization, and this is core to the digital commerce platform built with Infosys Topaz, leveraging its advanced analytics capabilities.
“This platform now provides us with deeper customer insights while supporting scalability to meet customer demands and onboarding new brands. We are delighted to have collaborated with Infosys on this journey.”
Infosys is helping modernize Proximus IT stack optimize costs and broaden their portfolio of offerings.
Antonietta Mastroianni, Chief Digital & IT Officer at Proximus of Brussels, said, “Our affiliates are an important part of Proximus’ multi-brand strategy. They have a fantastic reputation in Belgium when it comes to quality service at great prices. In order to continue to ensure smooth operations and an enhanced portfolio of offerings to all our customers, it was crucial to achieve deeper integration in the Proximus IT stack.
“A complex transition, involving multiple vendors, applications in an evolving landscape meant that we needed new operating model and sourcing strategy that could anticipate and adapt to our requirements. Infosys as a managing partner for this venture with the out-tasking model enabled us to successfully complete the program on time and with great quality of delivery.”
Meanwhile, Bank of Commerce of the Philippines has selected Infosys Finacle for its core banking transformation to help replace their legacy platform.
Bank of Commerce President and CEO Michelangelo R. Aguilar added, “We are pleased to have chosen Infosys Finacle due to its established presence in the Philippines, robust solutions suite, and record of reliable delivery in the market.
“The modernization of our core banking system is an integral part of BankCom’s digital transformation journey as a universal bank in delivering a truly digital banking experience to our clients.
“It will enable us to operate better, innovate, and keep pace with industry best practices, regulatory requirements, and evolving expectations of the markets we serve, notably the San Miguel Group and SMC ecosystem.”
Infosys delivered US$4,663 million in Q3 revenues with year-on-year and sequential decline of 1% in constant currency.
Large deal TCV (total contract value) for the quarter was US$3.2 billion, with 71% being net new. Operating margin for the quarter was 20.5%, a sequential decline of 70 bps. Attrition declined further to 12.9%. FY24 revenue guidance revised to 1.5%-2.0% and operating margin guidance at 20%-22%.
“Our performance in Q3 was resilient. Large deal wins were strong at $3.2 billion, with 71% of this as net new, reflecting the relevance and strength of our portfolio of offerings ranging from generative AI, digital and cloud to cost, efficiency and automation” said Salil Parekh, CEO and MD.
“Our clients are leveraging our Topaz generative AI capabilities and our Cobalt cloud capabilities to create long-term value for their businesses,” he added. fiinews.com
