Mahindra Satyam gets IT contract from Irda

IT firm Mahindra Satyam today said it has received order from Insurance regulator Irda to implement software solution in the organisation that will help the firm manage accounts and payroll related services.

The company will implement business software which will help Irda to cut cost and help to manage payrolls, self-service portals, accounts and provide post implementation support, Mahindra Satyam (earlier known as Satyam Computers) said in a filing to the Bombay Stock Exchange.

However, the company did not disclose the financial details of the contract.

"We look forward forward to helping Irda deliver fast, accurate business decisions and provide exceptional value to its numerous employees more effectively," Mahindra Satyam Senior Vice President Business Head-- Middle East, Africa & India Dilip Jha said.

In another filing, on the BSE, the company said it has establish Windows Azure Center of Excellence (CoE) in partnership with Microsoft. The partnership will enable the company to build competency on cloud based services.

Cloud computing is an Internet based processing, whereby shared resources, software, and information are provided on demand to the customers.

"Microsoft's Azure is a powerful web-based platform that offers a unique opportunity for our partners to extend and create services and solutions offering for a cloud based environment," Microsoft Senior Vice President Server & Cloud Amitabh Srivastava said.

Shares of Mahindra Satyam were trading at Rs 88.15 on the BSE, down 1.40 per cent from the previous close.