BENGALURU: Wipro is putting in place a new compensation structure for its software and sales teams with a focus on incremental revenue, as part of a push to catch up with larger, faster-growing rivals after lagging industry growth rates the past 3-4 years. India’s third-largest software exporter also plans to create a new unit to tap into digital business opportunities that include new technology areas such as Internet of things, chief executive TK Kurien said on Wednesday during a meeting with analysts.
MUMBAI: After decades of low-margin work like server maintenance, India’s information technology services firms are moving upscale in search of lucrative contracts for driverless cars and other advanced projects as online innovation changes clients’ needs. Companies from Tata Consultancy Services Ltd to Wipro Ltd are all joining Infosys Ltd in investing in new, high-end technology, industry watchers say. Earlier this week Infosys bought US automation specialist Panaya Inc for $200 million.
BENGALURU: Wipro’s investments in next gen programmes, overseen by Rishad Premji’s strategy office, could soon be spun off into a separate entity. Called H2H3 (Horizon 2, Horizon 3), the programme operates like an in-house incubator and fund, identifying potent ideas that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues.
BENGALURU: Wipro has won a $150 million (Rs 900 crore) IT outsourcing deal from the Allied Irish Banks (AIB), one of the big four commercial banks in Ireland. India’s third largest IT services company will provide infrastructure management services (IMS), data centre and hosting services to AIB over five years. “We are excited to partner with AIB in their journey to transform the Bank. We will bring our expertise to build agile and adaptive infrastructure while improving the predictability and cost effectiveness of services,” said Rajan Kohli, senior vice president and global head — banking and financial services in Wipro.
NEW DELHI: Wipro today reported a consolidated net profit of Rs 2,198 crore, up 5.4% QoQ for the third quarter ended December 31, 2014, which was slightly above ET Now estimates of Rs 2,132 crore. India’s third largest software exporter posted a net profit of Rs 2085 crore in the previous quarter, Wipro said in a filing to the BSE today. Wipro closed 0.79% lower at Rs 555.25. It hit a low of Rs 552 and a high of Rs 563.20 in trade today.
A handful of original investors of Wipro, who became shareholders long before the company became a poster-boy of IT (information technology) in the country, are an upset lot. These shareholders, who invested in the 1970s, are opposing the company’s move to take Wipro Enterprises, which was demerged from the software major in 2013, private.
BENGALURU: Battling to regain lost glory, Wipro and Infosys are stepping up their age-old rivalry, this time to out-innovate each other as the two Bengaluru-based software exporters invest in disruptive technologies pegged to artificial intelligence and design thinking to bring greater efficiencies for themselves and their customers. Infosys Chief Executive Vishal Sikka, at an analyst event in Pune on Thursday, said some of his company’s rivals were imitating it and went as far as labeling their moves proverbially as “imitation is the best form of flattery”.
BENGALURU: At Wipro, even company veterans do not expect to meet with chairman Azim Premji on a regular basis. So, it was a surprise for Anand Padmanabhan, head of the vertical that services the energy and utilities sectors, when he was told about a meeting with him in the last week of October. After a 30-minute chat with Premji and chief executive TK Kurien, Padmanabhan emerged a happy man.
BENGALURU: Wipro has elevated Anand Padmanabhan, who manages its vertical servicing the energy, natural resources and utilities sector, to the rank of president of the division, the first such reward given by the Bangalore-based company to any of its seven business unit heads.
BENGALURU: India’s third-largest software exporting firm, Wipro, will name some new vertical heads by the year-end, according to two people familiar with the matter, as part of chief executive TK Kurien’s strategy to improve growth numbers. Wipro has already made more than a dozen changes at its 50-odd verticals and practices since December last year.
NEW YORK/NEW DELHI: IT services major Wipro has bagged a $143 million 5-year outsourcing deal from Levi Strauss as the US-based denim apparel maker looks to cut 500 jobs in a restructuring exercise. The move, first announced in March 2014, is expected to generate net annualised cost savings of $175-200 million once fully implemented.
BANGALORE, INDIA: Wipro Ltd. and Red Hat announce the global expansion of their alliance to accelerate the deployment of open hybrid cloud solutions. As part of the expanded collaboration, Red Hat and Wipro will work together to develop and deliver enterprise-grade cloud solutions to the market, and will also jointly deliver next-generation DevOps solutions for continuous integration and testing.
BANGALORE: Wipro’s new initiatives in automation and artificial intelligence will involve establishment of what it calls digital pods. And there will be four of them one each Bangalore, London, in the San Francisco Bay Area, and another elsewhere in Asia. The digital pod will be like an innovation lab with giant digital screens simulating applications in a live-use case scenario. The four pods are part of India’s third-largest IT company’s newly-carved division Wipro Digital that offers customers digital capabilities through strategy , design and technology.
NEW DELHI: Country’s third largest software services firm Wipro today said it has implemented customer relationship management (CRM) solution at SRL Diagnostics to help transform its customer care operations. SRL Diagnostics is one of India’s largest pathology lab networks with 12 reference labs, four Centers of Excellence and 281 network laboratories. No financial details of the partnership were shared. Wipro successfully deployed the Oracle Service Cloud, delivering an enhanced and virtually seamless experience across various touch-points for SRL’s customers, Wipro said in a statement.
BANGALORE: Wipro is investing big money in setting up a separate business practice for open source and plans to have at least a 10,000 strong team, driven largely by changes in technological space and some of its largest clients, including Citigroup, running largely on non-proprietary software. Significantly, the country’s third-largest software exporter estimates that by embracing this now-universal practice of open source, Wipro will be able to implement projects faster and bring down its own operating costs by up to 20% over the coming two years.
BANGALORE: Wipro on Wednesday reported a lower-than-expected 8% increase in second-quarter net profit, with revenue growth barely meeting the low end of its own forecast, as top banks in Europe delayed outsourcing projects. The management, however, painted a rosy future, saying that the company is nearing the end of a more than three-year-long turnaround process and should soon be able to report over 3% growth in sequential revenue.
BANGALORE: Wipro’s ability to fire up growth momentum will be in the spotlight when it reports second-quarter results on Wednesday. The Bangalore-based software company has projected sequential revenue expansion in a wide range between 1.7 per cent and 4 per cent, and analysts will be pleasantly surprised if it meets the upper end of the forecast. The focus will also be on CEO TK Kurien, who has said that a key measure of his success at Wipro will be hitting the 4 per cent sequential growth mark sustainably, but that seems ambitious based on the evidence so far.
BANGALORE: WiproBSE -0.21 % has sold its 8% stake in US-based startup Axeda, a person with knowledge of the matter said, with a threefold return on a small investment it made a year ago after Rishad Premji took over as head of strategy. Wipro had spent about $5 million in June 2013 for the stake in machine-to-machine learning and Internet of things solution provider, valuing it at over $50 million. The Bangalore-based company was made to exit after Nasdaq-listed PTC bought Axeda for $170 million in cash in July this year. It sold the stake to PTC.
BANGALORE: Wipro has started a threeyear exercise to become a leaner company, initiating its most ambitious reorganisation effort since it started selling computers in 1981 and presaging similar moves in an industry that has been a prolific job-creator. India’s third-largest software company employs 1.46 lakh employees and the aim, according to people familiar with the process, is to slim down by about a third without resorting to mass layoffs of the kind that IBM and Microsoft have effected this year.
BANGALORE: Michael S Dell wants to more than treble the software services revenue in a “few years”, an ambition that the entrepreneur is betting on his team of leaders handpicked from Indian outsourcing giants such as Infosys and Wipro. Significantly, the founder, chairman and CEO of the Texas-based computer hardware and services firm believes ever since going private, Dell has been able to focus more on clients without being distracted by “activist shareholders” and invest in some of the long-term strategies, including investing in cloud, security and analytics space.