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Infosys bets on digital technology to drive business

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Mumbai, April 23 (IANS) Global software major Infosys will invest more in digital technologies to drive business and look for strategic inorganic acquisitions, a company official said on Monday.

“As digital is not just about technologies but driving business outcomes, we will invest more in it as we are well positioned in it (digital),” Infosys Chief Executive Salil Parekh told analysts at a meeting here.

Presenting the company’s strategic direction, Parekh said there was tremendous loyalty and expectation from the clients on digital future.

“As lot of core areas needed digitsation, we are working on them,” he noted.

Admitting that the company had built its strategy on what the clients were telling its executives, Parekh said there was a huge growth in digital, which was a disruption in the IT industry through technology.

“We are not only digitising core areas, but also combining all our services to drive business outcomes for our clients instead of merely selling technologies or services,” said Parekh.

The Bengaluru-based company plans to scale its digital business, which contributed $2.8 billion in fiscal 2017-18, energise its clients’ core technology landscape via artificial intelligence (AI) and automation, re-skill its techies and expand its localisation in Australia, Europe and the US.

“Navigating Your Next’ is our aspiration of how we will partner with each one of our clients”, Parekh said in a statement on April 13 after declaring the company’s financial results for the last fiscal (FY 2018).

Digital offerings contributed 25.5 per cent ($2.79 billion) to the company’s annual revenue of $10,939 million in fiscal 2017-18.

The company added 73 clients during the quarter, taking the total to 1,204 for the year from 1,191 quarter ago and 1,162 year ago.

Parekh also spoke on the four pillars of the company’s new business strategy — scaling up of its agile businesses, which brings more relevance to the future of its clients; energising core of AI; re-skilling employees to move into data and cloud andA localisation into its markets such as the US, Europe, Australia.

“We are ready with a digital framework for clients and have built a pentagon of 5 dimensions for digital business,” said Parekh.

According to the company’s estimates, market opportunities in digital are at about $160 billion and growing at 15 per cent or more.

“We are going to first scale our agile digital, helping our clients go on their digital journey, which is a large market,” he added.

The company has drawn a three-year road-map to achieve its digital goals — to stabilise the company in the first year, start the momentum in the second year and accelerate where it can have more share of clients’ relevance in the third year.

Infosys has projected a robust revenue growth of 9 per cent in dollar terms for the fiscal 2018-19 despite its net profit declining 28 per cent sequentially in the fourth quarter of the fiscal 2017-18.

“Consolidated revenues are expected to grow 7-9 per cent in dollar terms and 8.2-10.2 per cent in rupee terms for fiscal 2018-19,” the company said on April 13 while announcing its financial results for FY2018.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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