Page 8 - It Services

Accenture, TCS, Infosys, HCLTech continue to rule the IT brand list

Accenture has maintained its position as the world's most valuable IT services brand, with a brand value of $40.5 billion

IT services, BPO exports grew over 12% to touch $193 billion in FY23: ESC

The exports of computer software and services, including IT enabled services and BPO, logged 12.2 per cent growth during 2022-23 to touch USD 193 billion, according to estimates by Electronics and Computer Software Export Promotion Council (ESC). The IT software/services chunk accounted for the bulk of this at USD 126 billion, followed by BPO services (USD 52 billion). "In value terms, export of the IT/ITeS/and BPO during 2022-23 is estimated at USD 193 billion, up from USD 172 billion estimated in the year 2021-22, registering a growth of 12.21 per cent, which is mostly contributed by IT software/services at USD 126 billion, followed by BPO services (USD 52 billion), software products development (USD 5.1 billion), engineering services (USD 9 billion)...," Sandeep Narula, Chairman of ESC said in a release. Narula said the growth of BPO services at 14.63 per cent and 13.33 per cent growth of IT products are good indications since global trading of these segments would go up ...

'It's nothing personal': Wipro on lawsuits against senior executives

Wipro sued Dalal, accusing him of violating the non-compete clause in his employment contract by joining rival Cognizant within 12 months from his last date of work

IT leaders Infosys, TCS kick off Q3 earnings season with weak numbers

Infosys cuts growth guidance as net drops 7.3%; TCS profit up 2%

Infosys loses mega contract as global client terminates $1.5 billion deal

IT services firm Infosys has said that a global company has decided to terminate a multi-year contract worth USD 1.5 billion with it. On September 14, 2023, Infosys announced a pact with a global company to offer enhanced digital experiences alongside modernisation and business operations services leveraging Infosys platforms and AI (Artificial Intelligence) solutions. In a BSE filing on Saturday, Infosys said the global company has now elected to terminate the Memorandum of Understanding (MoU) and the parties will not be pursuing the master agreement." Infosys also said the stock market intimation was in continuation to a disclosure made on September 14, 2023, with respect to an MoU with the global company which was subject to parties entering into a master agreement. On the said date, Infosys informed BSE that it entered into an MoU with the global company to provide enhanced digital experiences, along with modernisation and business operations services, leveraging Infosys platfo

Indian IT battles slowdown in US, hiring to be muted for next 2-3 quarters

This implies that hiring will be in the slow lane even in the first quarter of FY25

Australia's ASX signs deal with TCS to revamp clearing, settlement platform

Indian IT services firm will use flagship product to replace ASX's existing platform

27 firms granted approval under new IT hardware PLI scheme: Vaishnaw

The government on Saturday said 27 companies, including Dell, HP, Foxconn, and Lenovo, have been granted approval under the new production-linked incentive (PLI) scheme for IT hardware. The move comes at a time when India is wooing IT hardware players with policy sweeteners and incentive schemes, making a determined push to position itself as a global hub for hi-tech manufacturing. "I am happy to announce that 27 companies have been approved under the PLI IT hardware scheme. About 95 per cent of these...23 companies are ready to start manufacturing from day-zero," Minister for Electronics and IT Ashwini Vaishnaw said. "This will set us up for being a big force in manufacturing of PCs, servers, laptops, and tablets," he added. These 27 companies will invest Rs 3,000 crore. Big players, including Dell, Foxconn, HP, and Lenovo, are among the companies whose applications have been approved.

IT services firm NTT Data to offer tools for Microsoft Copilot AI assistant

NTT Data will also facilitate 'Managed EX', allowing users to receive support services for Copilot in Microsoft Teams

IT services companies chase large deals for higher revenue, faster growth

IT companies consider deals at or above $100 million as large deals while deals at or above $500 million are categorised as mega deals

Infosys, AWS join hands to help financial clients accelerate cloud adoption

As part of the collaboration, Infosys and AWS aim to support financial organisations, like retail banking at NatWest Group, in accelerating their cloud adoption journeys

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.

HCLTech, Cisco partner to launch AI powered Meeting Rooms Services

The Meeting-Rooms-as-a-Service (MRaaS) will enable users to join meetings from any meeting solution provider using Cisco's Webex devices

Caution: Campus hiring by Indian IT services giants is in the slow lane

The management of the companies said that excessive hiring in the last few years has meant recalibration of employees as growth dipped

80% of IT services companies likely to get to 5-day work mode by FY24 end

HR experts also point that with attrition back to its level many are taking the current dip in business momentum to get its employees back in office

A fifth of entry-level technology jobs may go artificial intelligence way

Experts believe acquiring niche skills can be a smart way to stay relevant in an AI-driven market

Results preview: IT companies brace for Q2 setback on muted growth

Analysts are expecting that the momentum in the closure of record total contract value (TCVs) will continue, as has been the case over the last two quarters

Accenture forecasts first-quarter revenue below Wall Street estimates

Infosys halved its full-year revenue forecast in July, citing delayed decision-making on future projects from clients, while Tata Consultancy Services also flagged soft demand

Wipro CFO Jatin Pravinchandra Dalal quits, Aparna Iyer takes over charge

Aparna will report to CEO Thierry Delaporte and will join the Wipro Executive Board

Black Box opens new centre of excellence in Bengaluru, to create 500 jobs

The new centre is also projected to increase the company's margin by around Rs 50 crore in the near term, according to Black Box