Parekh continues to expand capabilities in Generative AI
Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY) has created robust foundation for Infosys growth and has set FY25 guidance for revenue growth of 1%-3% and operating margin of 20%-22%.
It has delivered US$18.6 billion in FY24 revenues with a growth of 1.4% in constant currency and operating margin of 20.7%.
Free Cash Flow was strong at US$2,882 million, an increase of 13.7% over FY23. Large deal TCV for FY24 was highest ever at US$17.7 billion, with 52% being net new.
“We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us,” CEO and MD Salil Parekh said on 18 Apr 2024.
“Our capabilities in Generative AI continue to expand. We are working on client programs leveraging large language models with impact across software engineering, process optimization, and customer support.
“I would like to thank our 317,000 employees across the world that are working to create value for our clients.”
Infosys projects:
• Infosys announced a strategic collaboration with Musgrave to help automate their IT operations by leveraging its industry leading AI and Cloud offerings, Infosys Topaz and Infosys Cobalt. Stephen Mckenna, Chief Technology Officer, Musgrave, said, “I am delighted by our recently announced collaboration with Infosys, which will enable us to leverage Infosys’ expertise and resources to deliver innovative solutions to all our customers and retail partners. Musgrave has always been committed to providing our customers with the best possible service, and this collaboration is a testament to that commitment. We are confident that this collaboration will result in new and exciting products and services that will benefit all our customers.”
• Infosys collaborated with PROG Holdings, Inc. to bring AI-powered experiences to their customers and intelligent automation to their operations, as an integral part of PROG Holdings’ ongoing cloud and AI-focused technology modernization and innovation efforts. Steve Michaels, President and CEO of PROG Holdings, said, “We look forward to working with Infosys to develop and enhance key systems that positively impact the speed to market, agility, and scalability of key PROG Holdings technologies and platforms. We expect our collaboration with Infosys will reduce friction for both our customers and retail partners, further solidifying PROG Holdings’ position atop the virtual lease-to-own industry we helped create twenty-five years ago.”
• Infosys collaborated with Pacific International Lines (PIL) to accelerate their digital transformation initiative by helping revamp PIL’s existing customer portal and deploying a scalable and modern technology platform, aimed at creating a positive impact for PIL’s key stakeholders across the shipping and logistics ecosystem. Lionel Patrice Chatelet, Chief Commercial Officer, Pacific International Lines (PIL), said, “We are looking for a partner who can not only bring technology but also play an advisory role in the journey of transformation. Infosys brings together a strong combination of right capabilities as well as highly collaborative ways of working. We are delighted to collaborate with Infosys.”
• Resolution Life Australasia collaborated with Infosys to virtualize its mainframe systems by enabling a seamless migration to the cloud, enhancing the overall customer experience. Peter Histon, CIO of Resolution Life Australasia, said, “Infosys brought a number of proprietary accelerators to the table as part of the virtualization which helped us to deliver the solution rapidly. But beyond that, Infosys brought in a number of different people capabilities. We took a progressive approach around migration of the underlying applications. There were two very big releases. Infosys worked with us every step of the way.”
• zooplus and Infosys have entered into a strategic eight- year collaboration to set up an AI-led product and technology hub in Hyderabad, India. Markus Hermanutz, Chief Information Officer, zooplus SE, said, “We are excited to have selected Infosys to set up a new AI-led hub through which we will drive our business growth ambition. With Infosys Topaz, we will achieve productivity and efficiency at scale, and attract the right talent for upcoming transformations across our e-commerce value chain.”
• Infosys is expanding its successful collaboration with Hasbro, building on their initial achievements in the SAP S4 implementation. Together, they are advancing their relationship and strategy globally through a multi-year strategic engagement. Leveraging Infosys’s expertise in AI and a proven experience led cognitive approach, Infosys is poised to support Hasbro’s global business. This collaboration aims to drive operational excellence, foster innovation, and deliver superior experiences at scale for both customers and employees worldwide. Steve Zoltick, CIO & Head, Global Business Enablement, Hasbro, said, “Infosys is bringing the right talent to our collaboration allowing us to enhance our capabilities and achieve our Global Business Enablement goals”.
• Infosys Finacle successfully implemented the Finacle Digital Lending Solution Suite in a Software-as-a-Service (SaaS) mode for Regional Investment Corporation (RIC) which included the adoption of the Finacle Online Banking and Finacle Alerts Solution. Chris Rawlins, Executive Director Transformation, Regional Investment Corporation (RIC), said, “At RIC, our mission is to nurture the growth of the Australian farm businesses through affordable loans, while also ensuring their resilience and profitability. With the Infosys Finacle Lending solution, we have a proven technology platform to support the evolving demands of our business and customers, with the agility to roll out new products and regulations as mandated by the Federal Government. The nine-month implementation by the Infosys Finacle team was delivered on schedule and we are impressed by the team’s commitment to facilitate RIC in achieving a smooth transition without any disruptions to our customers.”
• Infosys and Handlesblatt Media Group announced a strategic collaboration to support the Handelsblatt Research Institute (HRI) in making complex reports on global economic and financial topics more accessible and easily consumable for the public, by leveraging Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies. Dr. Jan Kleibrink, Managing Director, Handelsblatt Research Institute, said, “We are excited to collaborate with Infosys to offer cutting-edge, AI-enabled trend reports. One of the core tasks of the Handelsblatt Research Institute is to present complex economic relationships and the results of scientific analysis to a broad readership. We achieve this with texts of the highest journalistic quality and visual storytelling based on high-quality infographics. With Infosys as our AI and digital innovation partner, we now move to the next level of digital storytelling that is powered by AI.” Fiinews.com
