$500m to provide managed services for select products in US
Wipro Ltd recorded another quarter of over US$1 billion worth of large deals during Q1 ended 30 June 2024.
“We are pleased with the momentum we have built in Q1 across industries and sectors and confident in our ability to execute better on bookings and profitable growth as we transition to Q2,” wipro CEO and Managing Director Srini Pallia said on 19 July 2024.
“While we continue to build on our ai360 strategy and preparing our workforce for an AI-first future.”
Wipro (NYSE: WIT, BSE: 507685, NSE: WIPRO) has been awarded a US$500 million five-year contract to provide managed services for select products and industry-specific solutions in the US during the quarter.
Key deals:
Wipro was selected by a global leader in technology to reimagine its hyper-scaler customer experience centers through AI-powered operations. Wipro will enable real-time business insights, scale talent, and reduce cost of operations for the client’s centers across the world. Additionally, the team will modernize the client’s global R&D lab infrastructure and accelerate innovation with rapid prototyping and increased speed to market of new products and services bse .
A US-based health insurance company has engaged Wipro to deliver end-to-end transformation of its medical claims processing. Over this multi-year deal, Wipro will implement customized AI-based solutions, for claims processing, error prediction and agent assist. Wipro’s AI solution will deliver higher accuracy in claims processing leading to a reduction in out-of-compliance claim appeals and an overall decrease in the cost of operations. Wipro is leveraging GenAI and AI to accelerate training and optimize resource allocation for the client nse .
A US-based automotive Tier 1 supplier has selected Wipro to streamline its global technology services and rationalize its applications including both Engineering and business to support its portfolio. The Wipro team will develop a solution leveraging automation and AI to improve the client’s customer experience and reduce its overall operating costs, enhance innovation as well as improve project delivery nyse .
A leading provider of innovative flash memory solutions has selected Wipro as its strategic partner for Product Development and Engineering. The Wipro team will establish a Center of Excellence for Solid State Drive SSD engineering by leveraging its deep domain expertise on storage firmware, embedded software, system validations and GenAI methodologies to enhance the client’s product development life cycle.
Wipro has secured a transformational engagement with a state government organization in Australia to deliver a centralized road asset management system. This system will help the client make reliable and fast strategic decisions for the future of its road network. The ‘One Wipro’ team, with Rizing, Wipro Enterprise Futuring and Domain & Consulting, will improve management of road assets like bridges, tunnels, traffic assets, etc., through integration and automation of the road asset register. The team will also deliver new capabilities to support business needs like staff mobility, leading to improved user experience with an intuitive map driven approach.
A US-based payment services corporation has selected Wipro to enhance its applications to provide more resilient services, improve performance and scalability to support projected business growth. In partnership with the client, the Wipro team will develop and deploy solutions utilizing proven Continuous Integration & Deployment pipelines, leveraging AI. As a result, the client will have better visibility of compliance requirements and see improved agility and productivity.
A US-based global technology company has selected Wipro to develop and enhance its Silicon IP lifecycle. The Wipro team will deploy a comprehensive end-to-end solution that includes silicon engineering services encompassing areas such as analog circuit, layout, and structural designs. The project will result in increased agility and transparency across the Silicon IP lifecycle.
An Australian public health services organization health.gov.au/ has chosen Wipro to migrate its legacy systems and automate its workforce management process. The Wipro team will build a solution that connects the aged care community with essential providers and services. The client will see enhanced accessibility and exchange of medical data, improved quality, and safety of primary healthcare services, as well as increased innovation and efficiency through digital technologies asx.
A global pharmaceutical organization has expanded its existing relationship with Wipro, selecting it to deliver persona-based services for their Service Desk and onsite Field Support Services globally. The programme includes 12 transformation initiatives to modernize the client’s operating model and improve its user experience through Gen AI use cases, including autopilot-based provisioning, and remote management of applicable devices through zero-touch remote IT services resolution. As a result of this project, the client will see enhanced employee experience and increased productivity.
A Europe-based investment management company eurochambres has selected Wipro to manage its end-to-end infrastructure. The Wipro team will consolidate vendors across the client’s IT operations and develop AI tools to simplify its operations. This project will improve the client’s operational stability and security, reduce costs, and increase its cost efficiency by up to 30%.
One of Europe’s largest providers of holiday parks has selected Wipro to integrate its business functions into a single set of standardized technology platforms with a redesigned operating model. The Wipro team will design the business processes, build and roll out core business platforms for the client’s commerce, finance, and HR functions. The team will also build a data platform to gain better business insights and roll out a change management program to ensure a smooth transition. This project will deliver harmonized and integrated systems enabling the client’s future business growth.
A leading US-based technology company has selected Wipro to provide end-user sales and support services for its Spanish and Portuguese-speaking customers in Latin America latamcham . Wipro will deploy its trusted digital marketing advisors to support end users’ marketing presence. The team will also help in boosting advertising revenue growth through ad campaign optimization, market planning and book management.
Gross revenue was at Rs.219.6 billion (US$2,635.8 million), a decrease of 1.1% QoQ and 3.8% YoY.
Net income for the quarter was at Rs.30 billion (US$360.4 million), an increase of 5.9% QoQ and 4.6% YoY. Fiinews.com
