ArcelorMittal has awarded a long term contract to Infosys for the digital transformation of its European operations. The value of the contract was not disclosed. Infosys will offer app and business process management services to the world’s largest steelmaker. The Bengaluru based firm will also establish a BPM service in steel maker’s Business BCoE shared services centre. The contract will further strengthen Infosys’ presence in Europe.
Infosys appointed former Salesforce executive Chitra Nayak as an independent director. She has over 25 years of professional experience and specialises in go-to-market strategies. Nayak also serves as a board member at Invitae, a medical genetics firm; at Morneau Shepell, a HRtech services firm; at Forward Air, a freight and logistics firm; and at Intercom, a messaging platform. She has also co-founded Neythri.org that supports South Asian professional women.
Top Indian IT companies’ net hiring in FY22 could hit an all-time high, since the heydays of 2011-12, JM Financial said. Acceleration in the adoption of digital tech by global firms led to a rise in demand for IT services worldwide, making 2020-21 a transformative year for Indian IT companies. In 2011-12, the net hiring by top five offshore IT firms — Infosys, Cognizant, Wipro, HCL Tech and TCS, stood at 1,11,022, which has not been breached in the last nine years.
Infosys has vested ESOPs of nearly Rs 40 cr to 30 of its top executives. CEO Salil Parekh received shares worth Rs 4.33 cr while COO Pravin Rao got Rs 1.94 cr of stock. CFO Nilanjan Roy, HR head Krishnamurthy Shankar, Presidents S. Ravi Kumar and Mohit Joshi also received ESOPs. Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and promoter, gifted shares worth Rs 106 cr to Tanush Nilekani Chandra, her son.
Infosys has emerged as the front-runner for a $1.5 bn Pfizer IT outsourcing deal and is said to be in the last few laps of negotiation. If it wins, it will add a significant amount to the existing large deals TCV of nearly $12 bn. Recently, Infosys won the $3.2 bn Daimler contract and $1.5-bb Vanguard deal in August. In 2020 fiscal, Infosys had a large deals TCV of more than $9 bn, which was 44% higher than in the previous year.
Cloud computing is a vital cog in every firm’s digital transformation journey. Narsimha Rao, Head of Cloud & Infrastructure Solutions, Infosys said that the benefits of the cloud migration can range from cost, agility, expansion, building, launching new products and solutions. Cloud has enabled the retail sector to move or introduce an e-com omnichannel model. Cloud-based systems helped BFSI to pivot to WFH and quickly upgrade customer-facing software.
Siemens Gamesa Renewable Energy selected IT services company, Infosys to implement an ERP system (enterprise resource planning) system. SAP S/4HANA solution will enable SGRE to enhance its digital capabilities and achieve stronger market positioning. Siemens Gamesa has further planned to occupy Infosys Cobalt, that helps build cloud-first capabilities, for an industrial rollout across 50+ countries and 22 manufacturing plants.
TCS secures the third rank as the world’s most-valued IT services brand. “TCS is rapidly closing the gap with IBM following a healthy 11% brand value increase to $15 bn” the report stated. Accenture retains the first position with a brand value of $26 bn and IBM holds second place with a brand value of $16.1 bn. TCS, Infosys, HCL Technologies, and Wipro are the four Indian brands among the Top-10 global IT services companies.
The top four IT firms — TCS, Infosys, HCL Tech, Wipro — plan to hire 91,000 freshers for 2021-22 as the demand has sharply picked up. TCS will hire about 40,000 freshers, Infosys would hire 24,000 college graduates. HCL aims to hire 15,000 freshers in India and 1,500-2,000 people on-site. Infosys, recently, won a $3.2bn deal from German auto major Daimler. TCS locked a deal from Prudential Financial. Wipro signed German retailer Metro.