“We surpassed the milestone of USD 2 billion in quarterly revenues for IT Services on the back of rigorous execution of our strategy,” said Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board. “Our unique Digital capabilities powered growth in top clients and position us well to drive our clients’ digital transformation.”
“Productivity gains generated by our HOLMES automation suite and operational efficiencies overcame the incremental impact of wage hikes and expanded IT Services margin to 17.3 percent,” said Jatin Dalal, Chief Financial Officer.
Outlook for the Quarter ending December 31, 2017
We expect Revenues from our IT Services business to be in the range of USD 2,014 million to USD 2,054 million*.
Capital Allocation Update
As disclosed earlier, on July 20, 2017 the Board approved a proposal for Buyback of up to 343.75 million equity shares at a price of Rs 320 per equity share. The Buyback proposal was subsequently approved by the shareholders through postal ballot, the results of which were declared on August 30, 2017. The Buyback offer period will commence upon completion of regulatory requirements.
Wipro continued its momentum in winning large deals globally as described below:
A leading US-based chemical manufacturing company has awarded an IT applications and back office operations transformation contract to Wipro. Wipro will leverage its intellectual properties and technology solutions including Wipro HOLMES™ for this engagement.
Wipro has won a multi-year engagement with a leading multinational technology company to help deliver a software platform with high quality and reduced time to market. Wipro will support the client’s agile release model by driving automation, data-driven prioritization and optimization.
Wipro has won a multi-year engagement with an automotive Tier-I company for supporting and modernizing their IT infrastructure, across their global locations. This program will leverage the Wipro HOLMESTM artificial intelligence platform to improve end user experience, reduce costs and drive innovation for the client.
Ooredoo Myanmar (OML), a telecom company, has selected Wipro as its technology managed services partner. As part of the five-year engagement, Wipro will manage Ooredoo’s IT infrastructure in an agile delivery model and will leverage the Wipro HOLMESTM artificial intelligence platform to drive hyper-automation. The engagement will help enhance the client’s business and operational agility, improve the time to market of their services and enhance end-customer experience through improved Quality of Service.
An Asian transport and infrastructure government body has selected Wipro as its strategic partner to develop and implement an integrated payment and collection system.
Wipro worked with leading US based Apparel and Footwear manufacturer to re-define their application support landscape leveraging hyper automation through Wipro HOLMESTM, right shoring, redefining the operating model and driving improved end-user experience.
Wipro continued its momentum in winning Digital deals globally as described below:
Wipro has won a large IoT and IT infrastructure modernization contract from a large Europe-based medical devices manufacturer. The engagement will help the client improve the product and service experience of their medical devices, across the globe, through enhanced after-sales remote monitoring support and predictive maintenance.
Wipro has won a large multi-year omni-channel customer experience transformation engagement from a leading telecom company in the APAC region. Wipro will leverage its digital engineering capabilities to improve customer advocacy, issue resolution rates and accelerate end-customers’ shift towards digital CRM and self-help channels.
A global pharmaceutical company has selected Wipro Digital to facilitate its transformation into a customer centric organization that is able to create internal and external value out of its vast amounts of health-related data. Wipro will bring new skills and ways of working to the organization aimed to imagine and launch innovative products based on data.
Wipro has been selected as the digital partner for a North American bank for consolidating their Cards portfolio into a single platform. The scope is end-to-end from planning to implementation. The engagement will involve transformation using automation, adoption of DevOps and Agile methodology.
Wipro has won an integrated cloud-based transformation deal, from a leading Latin American conglomerate, as part of a multi-year digital program. The engagement will involve simplifying commerce, Procure2Pay and Human Capital Management processes.
Wipro won a number of deals across business verticals in the cloud applications space leveraging Appirio Cloud Services. A couple of examples are as below
· A US-based voluntary health organization has selected Wipro as a lead partner to transform customer experience.
· A renowned private research institute has awarded Wipro a contract to build a new constituent management system on Salesforce.
“Wipro’s proactive approach to Problem Management and Quality Assurance has added immeasurable value to our organization and has allowed us to remain proactive and meet any industry challenges we have faced. The close working relationship with Wipro has been very beneficial to us and ensured that when new opportunities arise we can deliver solutions in a timely manner. Culturally, Wipro is an excellent fit to our organization with our shared common values of integrity and sensitivity,” said Arnie Leap, Chief Information Officer, 1-800-Flowers.com, Inc.
“Wipro manages a large portion of our IT real estate and is a key player in our innovation ecosystem. Wipro’s process, technological and domain maturity as a customer centric and SMART IT organization has helped us build transformational capabilities and incubate ideas that help us improve health outcomes & enhance the experiences for our patients. We are planning to actively leverage Wipro’s HOLMES as a mechanism to drive experience, efficiency and economy across our value chain. As the leading biotech focused on rare disease, our partnership with Wipro has helped us unlock numerous business benefits while delivering exceptional value to patients and caregivers struggling with a life-altering condition,” said Gabriele Ricci, VP, Head of Digital Health and Emerging Technology, Shire.
Analyst Accolades and Awards
Wipro’s Open Banking API Platform won the 2017 API Awards at API World under the ‘Travel APIs’ category. Open Banking APIs enable banks / other financial value providers to gain insights into customer’s banking habits and data, thereby providing contextual suggestions for engagement.
Wipro is amongst the top 6 firms in the Constellation Research shortlist on “Synchronous Ledger Tech (Blockchain) Companies to Watch For”.
Wipro has been placed as a ‘Winner’ in three HfS Blueprints: Digital Technology Strategy and Consultancy Services; Application Development and Management Services 2017; and IT infra Management and Enterprise Cloud Services.
Wipro has been placed as a ‘Winner’ in the HfS Application Testing Services Supporting Digital Transformation Blueprint report 2017.
Wipro has been placed as a ‘Winner’ in the HfS Energy Operations Blueprint Report 2017.
Wipro has been placed as a ‘Winner’ in the HfS Embedded and Semiconductor Engineering Services Blueprint Report 2017.
IDC MarketScape has named Wipro as a ‘Leader’ in the IDC MarketScape: Worldwide Cloud ERP Implementation Services 2017 Vendor Assessment (Doc #US41523417, July 2017).
Wipro has been positioned as a Leader by Everest Group, a global independent consulting and research firm, in the PEAK Matrix™ Assessments for Automation in IT Application Dev-Test and Business Process Service Delivery Automation (BPSDA). – PR Newswire