Infosys also said it agreed to buy Kallidus Inc and an affiliate, which provide digital services such as mobile commerce for retail clients, for $120 million.
“We see the industry going through a fundamental and structural transition. Despite being a challenging quarter, I am encouraged by the early successes in executing our Renew – New strategy, on a foundation of learning
Services growth in the fourth quarter was lower than we expected, though we saw healthy growth in Finacle and our Edge suite. Pricing continues to be under pressure due to increasing commoditization in the traditional outsourcing business, requiring us to ramp up productivity through automation, and enhance our differentiation in large engagements”, said U.B. Pravin Rao, COO “But we are well placed to pursue healthy overall growth in the new fiscal year.”
Bangalore-based Infosys, once seen as the bellwether of India’s about $150 billion IT services industry, has in recent years struggled to innovate and retain market share due to a staff exodus that impacted its ability to win lucrative deals.
Under Chief Executive Vishal Sikka, the company has been making big bets on automation and other new technology like artificial intelligence and cloud-based services to regain some lost ground from rivals.
Infosys also said it agreed to buy Kallidus Inc and an affiliate, which provide digital services such as mobile commerce for retail clients, for $120 million.“We see the industry going through a fundamental and structural transition. Despite being a challenging quarter, I am encouraged by the early successes in executing our Renew – New strategy, on a foundation of learningServices growth in the fourth quarter was lower than we expected, though we saw healthy growth in Finacle and our Edge suite. Pricing continues to be under pressure due to increasing commoditization in the traditional outsourcing business, requiring us to ramp up productivity through automation, and enhance our differentiation in large engagements”, said U.B. Pravin Rao, COO “But we are well placed to pursue healthy overall growth in the new fiscal year.”Bangalore-based Infosys, once seen as the bellwether of India’s about $150 billion IT services industry, has in recent years struggled to innovate and retain market share due to a staff exodus that impacted its ability to win lucrative deals.Under Chief Executive Vishal Sikka, the company has been making big bets on automation and other new technology like artificial intelligence and cloud-based services to regain some lost ground from rivals.
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