Posts Tagged ‘IT’

Infosys gains on collaboration with Stanford Graduate School of Business

November 21st, 2014

Infosys rose 0.65% to Rs 4,207.10 at 09:49 IST on BSEafter the company announced collaboration with Stanford Graduate School of Business to create a comprehensive executive education program.Outsourcing8

The announcement was made after market hours on Wednesday, 19 November 2014.

Meanwhile, the BSE Sensex was down 24.31 points, or 0.09%, to 28,008.54

On BSE, so far 6,197 shares were traded in the counter, compared with an average volume of 72,222 shares in the past one quarter.

The stock saw initial volatility. The stock hit a high of Rs 4,215 and a low of Rs 4,182 so far during the day. The stock hit a record high of Rs 4,225 on Tuesday, 18 November 2014. The stock hit a 52-week low of Rs 2,894 on 30 May 2014.

The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.

Infosys announced after market hours on Wednesday, 19 November 2014, that it will collaborate with Stanford Graduate School of Business (GSB) to create a comprehensive executive education program. As part of this agreement, Stanford GSB will team with senior Infosys executives to design and deliver a customized strategic leadership development program for the company’s executives, clients and partners. The executive education program will include a suite of business management skills, as well as courses in corporate innovation processes to help Infosys balance business discipline and entrepreneurial spirit. The office of Executive Education at Stanford GSB and Infosys will deliver the leadership program through in-person and online instruction, as well as live sessions enabled by distance-learning technology. The initiative will include 200 executives who will each participate in a part-time, year-long program in groups of 40 over three years. Executives will be able to test and apply their learning to real business challenges in parallel, the company said in a statement.

Infosys’ outsourcing unit Infosys BPO had on 18 November 2014, announced the separation of Abraham Mathews, its Chief Financial Officer from the services of the company for not complying with its code of conduct. This departure was in keeping with the company’s goal of setting the highest standards of corporate governance and adhering to the letter and spirit of the company’s code of conduct. Gautam Thakkar, the current Chief Executive Officer has submitted his resignation to the company effective 30 November 2014, taking responsibility on moral grounds and will be assisting Uppadhayay in this transition. Meanwhile, the company appointed Anup Uppadhayay as Chief Executive Officer and Managing Director of the company. The board of Infosys BPO also appointed Deepak Bhalla as Chief Financial Officer of the company.

Infosys’ consolidated net profit as per International Financial Reporting Standards (IFRS) rose 7.28% to Rs 3096 crore on 4.48% rise in revenue to Rs 13342 crore in Q2 September 2014 over Q1 June 2014.

Infosys is a global leader in consulting, technology and outsourcing solutions.

Source:http://www.business-standard.com/article/news-cm/infosys-gains-on-collaboration-with-stanford-graduate-school-of-business-114112000232_1.html

Infosys unit’s overbilling Apple led to exit of top executives: sources

November 21st, 2014

Indian outsourcing major Infosys Ltd’s back-office services unit was overcharging Apple Inc, leading to the exit of top executives, two senior Infosys people said on Thursday.Outsourcing6

Infosys, India’s second-largest IT services exporter, said on Tuesday it had fired Abraham Mathews, chief financial officer of its Infosys BPO unit, for failure to comply with the company’s code of conduct.

Infosys BPO chief executive officer Gautam Thakkar resigned on “moral grounds” and would leave the company on Nov. 30, Infosys said. It did not give details about the charges against Mathews.

Infosys spokeswoman Sarah Gideon said the company would not comment further on the confidential investigations.

“The financial irregularities are not material in nature and the company has already made required disclosures. The company has taken disciplinary action on employees,” she said in an email.

Apple did not immediately respond to an email sent outside business hours seeking comment.

The irregularities in Infosys BPO’s dealings with Apple came out during an internal audit, said one of the people at Infosys, who declined to be named as he was not authorized to speak to the media.

Though the audit showed that the financial impact of the wrongdoing on the company was minimal, Infosys decided to take a tough stance to demonstrate its “zero-tolerance policy for any improper conduct,” he said.

The Economic Times newspaper on Thursday said Infosys would soon fire at least six more employees at the unit, after investigations revealed that they had produced inflated invoices and allegedly overbilled Apple for many months.

Infosys earlier this year brought in Vishal Sikka as its new CEO to chart a new strategy for the company, once a trend-setter for India’s more than $100 billion IT outsourcing industry. Infosys has struggled in recent years to retain staff and market share.

Source:http://indiatoday.intoday.in/technology/story/infosys-units-overbilling-apple-led-to-exit-of-top-executives-sources/1/402812.html

Steady Rise in IT Operational Spending Expected for 2015

November 20th, 2014

In 2015, most IT shops across industries can expect a boost for their IT operational budgets, and those gains will be made in additional staff, cloud computing, and enterprise apps including business intelligence, according to a new study released by Computer Economics, a research and advisory organization that provides metrics for IT management.Outsourcing6

The 2015 IT outlook is mostly positive, according to Computer Economics, which based the study, “IT Spending and Staffing Outlook for 2015,” on a survey of 128 IT organizations worldwide, including 68 IT organizations in North America. The annual study assesses IT spending plans, priorities for IT spending and investment, and plans for hiring, outsourcing, and use of contractors and part-time workers as well as pay raises for IT workers.

While the expected increase in IT operational spending may seem lackluster compared to historical trends, it is steadily rising, and should increase 3 percent at the median in the United States and Canada. This compares to a 2.7 percent in 2014.

“Our annual outlook survey indicates organizations are willing to invest in transformational technologies and are more concerned about improving service levels than reducing costs,” John Longwell, VP of research for Computer Economics, said in a prepared statement.

According to the study, organizations expect to increase their IT staff headcount—a trend that carries over from last year. In last year’s study, Computer Economics reported that nearly half of all IT organizations in North America planned to increase the size of the IT workforce, with 49 percent of IT organizations anticipated getting the green light to augment staff headcount in 2014.

This year, in the 2015 study, Computer Economics found that more than half of IT organizations will increase IT staff headcount. In addition, a growing number of survey respondents indicated that they will transition from the use of contractors to hiring more full-time, regular employees. Also, the typical IT worker will receive a 3 percent pay raise, the 2015 study found.

Despite the gains in IT staff, and continuing investments in cloud computing, mobility, enterprise applications, security, and business intelligence—from which organizations will be able to derive transformational value, according to Computer Economics—not everything was upbeat. The study found that IT capital budgets will remain flat, and that capital spending on data center and network infrastructure will remain weak. IT executives will need to grapple with finding resources to maintain existing infrastructure, and that will be an ongoing challenge for many years ahead, according to the firm.

More specific findings on the insurance industry are available in Computer Economics’ comprehensive study, “IT Spending and Staffing Benchmarks – 2014/2015,” a more in-depth study that provides composite statistics of IT spending and staffing data, a segmentation of the same statistics by organization size, and benchmarks for 23 sectors and subsectors. According to this report, insurance organizations are information-intensive businesses that use IT technology for nearly every aspect of their business. Most of the employees use computers in their daily work, and insurance companies spend more per user on IT than any other subsector in the study, according to Computer Economics.

Source:http://www.insurancenetworking.com/news/enterprise_technologies/steady-rise-in-it-operational-spending-expected-for-2015-35167-1.html

IT Spending to Rise, Though Growth Remains Sluggish

November 19th, 2014

The outlook for 2015 is mostly positive, with innovations in mobility, business intelligence and cloud computing, Computer Economics found.Outsourcing4

IT operational spending is projected to increase 3 percent at the median in the United States and Canada as tech executives look ahead to 2015, seeing a business climate that is improving with sustainable, if not remarkable, growth, according to a report from Computer Economics.

The outlook for 2015 is mostly positive, with innovations in mobility, business intelligence and cloud computing enabling businesses to derive transformational value from their IT investments.

However, the report warned that at the same time, IT spending faces real constraints in the slow-growth environment, and IT executives will need to grapple with finding resources to maintain existing infrastructure while investing in transformational technology—a factor that is expected to remain a challenge for many years ahead.

“Our study shows that many IT organizations will be budgeting for projects in these areas and fewer are budgeting for infrastructure projects,” John Longwell, vice president of research at Computer Economics, told eWEEK. “From other research, we can show that companies that rely mostly on the cloud have lower IT spending than the norm.”

The annual report provides guidance for IT executives as they firm up spending plans for the coming year and is based on the company’s survey of 128 IT organizations worldwide, including 68 IT organizations in North America.

The study assesses IT spending plans for 2015, priorities for IT spending and investment, and plans for hiring, outsourcing and use of contractors and part-time workers.

“The confidence is generally good and the hiring that is occurring reflects that sentiment. IT organizations are no longer just relying on contractors, but they are bringing on regular, full-time employees,” Longwell said. “This is a shift that has been occurring over the last year and it reflects increased confidence in the sustainability of the recovery. We are also seeing less emphasis on cost cutting and more emphasis on improving IT service levels.”

The report projected IT capital budgets will remain flat, showing little or no growth at the median, and IT organizations will continue to invest in enterprise applications, security and business intelligence.

However, spending on data center infrastructure is expected to remain weak, but more than half of IT organizations will increase IT staff headcount.

“Companies are investing in business systems that promise to enhance sales and marketing operations,” Longwell said. “There is still a focus on quick payback, but there is a greater willingness to invest strategically for growth. One reason organizations are showing more interest in cloud-based applications is the lower upfront costs and quicker return on investment.”

The company is also projecting a shift from the use of contractors to the hiring of more full-time, regular employees.The typical IT worker will receive a 3 percent pay raise, and IT organizations will need to pay greater attention to recruitment, training and retention activities.

“Capital spending will remain somewhat weak, but operational budgets are poised for modest improvement,” Longwell said. “Beyond that, we have no special insight into how things will unfold. In areas where IT can enhance productivity, companies will make those investments–otherwise, IT spending will track with top-line revenue growth.”

Source:http://www.eweek.com/small-business/it-spending-to-rise-though-growth-remains-sluggish.html

Analysis And Procurement: Where The IT Jobs Will Be

November 19th, 2014

In a panel discussion with three prominent local chief information officers (CIOs) earlier this week at the event, those two familiar ideas kept recurring. Firstly, the need for IT workers to truly “understand the business”, with analytics as one way to add value in that area. Secondly, the need to be able to manage an increasingly diverse set of suppliers, especially when individual business units are sourcing their own tech.Outsourcing2

The upside is that this can change the approach to IT from a traditional penny-pinching mentality. “In our organisation we’re seeing a massive shift in demand from the business and as we demonstrate understanding of the business, we’re seeing lots of opportunities,” said Shaun Nesbitt, CIO for SEQ Water. “In the past all we had was a focus on cutting costs.”

Even when departments source their own tech, central IT can play a role in making sure data from those systems is cross-referenced and analysed, Nesbitt said. “The value IT brings to the table is the ability to look across silos.”

“In terms of skills, we’ve had to make some pretty tough decisions. We know we can’t do everything, and we know industry can do some things much better, hence there’s an increase in vendor management skills — so you can pick the right ones.”

That task has been exacerbated through the mergers of various authorities to form SEQ Water: “there’s a whole bunch of spaghetti that needs to be unravelled,” Nesbitt said.

For more specialised IT tasks, outsourcing remains a popular choice, which again brings procurement and vendor management skills to the fore. “The answer for me is outsource every time,” said Ross McKinnon, CIO for jewellery chain Michael Hill. “If I had to skill my guys on putting chips on motherboards or learning C, it’s going to take a lot longer than two years.

McKinnon’s preferred approach when outsourcing is to ensure some level of skills transfer, so there isn’t an ongoing dependency. He’s also a big fan of numerous small pilots, though that does mean not everything will succeed. “It means lot more piloting. We’ve had one running in three US stores for two months and we’ve found lots of bugs. Another has been running in Queensland for six weeks virtually bug-free, so we want to roll that out in January. The ability to work quickly and for shorter periods is going to become increasingly important.”

“The fundamental change is changing from the boxes and wire to information as a resource — being able to tap into information as a resource is a classic conundrum,” said Chris Turnbull, CIO for Queensland Treasury and Trade. It’s a technology issue that isn’t resolved by technology. At a practical level, the skills we need in house are markedly different: business analysis skills, and vendor management and procurement skills.”

Enforcing those changes is also complicated, Turnbull said. “There’s a management challenge there to understand the philosophy, the religious zeal for doing things in a particular way.”

Ultimately, IT isn’t going away. “Somebody always needs to interpret the technical world to an organisation, but it comes down to how that technology is used,” Turnbull said.

Source:http://www.lifehacker.com.au/2014/11/analysis-and-procurement-where-the-it-jobs-will-be/

Infosys’ outsourcing unit CFO sacked; chief quits

November 19th, 2014

Infosys on Tuesday announced the termination of the services of Abraham Mathews, chief financial officer (CFO) of its business process outsourcing (BPO) subsidiary, for non-compliance with the model code of conduct. The company also said Gautam Thakkar, chief executive officer of Infosys BPO, had quit, taking moral responsibility for the incident.Outsourcing

While Infosys did not elaborate on the said violation, sources close to the development said Mathews had failed to bring to the company’s notice financial irregularities at one of its BPO centres. They added Mathews wasn’t directly involved in the irregularities, but had failed to report the incident.

The company is learnt to have dismissed the executive directly involved with the irregularities, termed “immaterial”.

“The board of Infosys BPO Ltd announced the separation of Abraham Mathews, its chief financial officer, from the services of the company for not complying with its code of conduct. The departure is in keeping with the company’s goal of setting the highest standards of corporate governance and adhering to the letter and spirit of the code of conduct,” the company said in a late night BSE filing.

Mathews had taken charge as CFO of Infosys BPO in December 2003.

The company has announced the appointment of Anup Uppadhayay, senior vice-president, global head of delivery for financial services and an Infosys veteran of 21 years, as Infosys BPO Ltd’s new chief executive and managing director, and Deepak Bhalla, associate vice-president and head of its corporate accounting group, as the new CFO.

Bhalla had joined the company in 1998.

“BPO is of fundamental and strategic importance to our company. Our endeavour is to transform BPO with process innovation, automation and artificial intelligence to deliver exceptional efficiency and business value to our clients,” Vishal Sikka, managing director and chief executive of Infosys, said.

For 2013-14, Infosys BPO had reported revenue of Rs 3,278 crore and a net profit of Rs 578 crore.

Source:http://www.business-standard.com/article/companies/infosys-outsourcing-unit-cfo-sacked-chief-quits-114111900013_1.html

IT Operational Spending to Grow Modestly

November 18th, 2014

IT operational spending in the U.S. and Canada will increase 3% at the median next year amid “improving and sustainable — if not stellar” economic growth, but capital budgets will remain flat, according to a survey by Computer Economics.Outsourcing41

1024px-BalticServers_data_centerThe IT research firm said in its IT Spending and Staff Outlook for 2015 that the growth rate in operational spending, while somewhat modest by historical standards, continues the gradual, steady improvement since 2011, and it will primarily benefit cloud computing providers and job seekers.

The study found that more than half of IT organizations will increase staff next year, with a shift from the use of contractors to the hiring of more full-time, regular employees.

“The outlook for 2015 is mostly positive,” the study concludes. “There are innovations in mobility, business intelligence, and cloud computing that are enabling businesses to derive transformational value from their IT investments.”

However, “at the same time, IT spending faces real constraints in the slow-growth environment, and IT executives will need to grapple with finding resources to maintain existing infrastructure while investing in transformational technology,” it added. “That will be an ongoing challenge for many years ahead.”

Computer Economics polled 68 organizations in North America about their spending plans for 2015; priorities for IT spending and investment; and plans for hiring, outsourcing and use of contractors and part-time workers.

As far as IT capital budgets, the survey predicts little or no growth at the median as organizations continue to invest in enterprise applications, security and business intelligence, but spending on data centers and network infrastructure remains weak.

The IT outlook is “not entirely bullish,” Computer Economics said, but the survey results suggest that business leaders recognize the value in IT. “Organizations are willing to invest in transformational technologies and are more concerned about improving service levels than reducing costs,” John Longwell, the firm’s vice president of research, said in a news release.

Source:http://ww2.cfo.com/it-value/2014/11/operational-spending-grow-modestly/

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