Infosys collaborates with Shell to market Shell Inventory Optimizer solution

The IT major announced its strategic collaboration with Shell Global Solutions International B.V. (Shell), as the commercialization partner of the "Shell Inventory Optimizer" solution.

Through this collaboration, Shell and Infosys will launch Shell Inventory Optimizer as the first product offered to its energy customers. The solution leverages artificial intelligence that enables companies to optimize warehouse inventory levels based on historical consumption. By improving demand planning, this innovative solution reduces the time and labor required to complete maintenance operations and brings down the cost of operation.

"This collaboration will further strengthen the long-standing relationship that has existed between the two companies since 2000s," Infosys said in a statement.

Meanwhile on Tuesday, Infosys Finacle and IBM announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for financial services.

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys.

This collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services. It will also help banks achieve seamless ecosystem connectivity and provide a world-class banking experience for their customers, and enable them to meet required compliance and security requirements.

On a consolidated basis, Infosys' net profit rose 4.4% to Rs 5,421 crore on 6.1% increase in revenues to Rs 29,602 crore in Q2 September 2021 (Q2 FY22) over Q1 June 2021 (Q1 FY22). Revenues in constant currency terms grew by 19.4% YoY and 6.3% QoQ. Operating margin for the quarter stood at 23.6%, a decline of 1.8% YoY and 0.1% QoQ.

Infosys said its revenue guidance for FY22 is revised upwards to 16.5%-17.5%. Margin guidance is retained at 22%-24%.

Infosys is a global leader in next-generation digital services and consulting.

Shares of Infosys were up 0.60% at Rs 1708. The stock hit a high of Rs 1717.45 and a low of Rs 1701 so far.

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