IT services

New Delhi: Despite a projected decline in the growth of global…

Most industry experts and analysts expected large-cap IT service providers to report drops in revenue growth, driven mostly by the banking, financial services and insurance (BFSI) sector’s slowdown in the North American market. BFSI accounts for a major chunk of the revenue earned by this sector — for instance, it accounted for ₹86,127 crore out of Tata Consultancy Services (TCS)’s total revenue of ₹2.25 trillion, or over 38%. In a press conference following the announcement of…

HCL Technologies said Wednesday that it has won a digital transformation deal from Heubach Group, a leading global pigment manufacturer. Deal financials were not disclosed.HCLTech will deliver an IT system for Heubach Group across 11 countries to include deployment of hybrid cloud, cybersecurity solutions, end-user services and secure networks. The new IT system will help Heubach Group achieve its strategic objectives and drive productivity and growth.“We were extremely selective about our preferred digital transformation…

Tata Consultancy Services (TCS), the country’s top IT exporter, said at its FY23 earnings press conference that it has seen a steep rise in interest among clients in generative AI. “In our interactions with clients over the last (March) quarter, the conversation starts and stops with ChatGPT. Everyone is talking about what the tool can do, and for once, it is very clear that innovation is surpassing productivity. This is panning out as a trend across most of our $10 billion deal…

Reserve Bank's regulation on outsourcing of IT services by banking sector entities is aimed at improving corporate governance and will protect the interest of consumers, say industry experts. The Reserve Bank of India (RBI) has recently come out with detailed norms for the outsourcing of IT services by banks, NBFCs and other regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers. These norms came in the backdrop of the current practice of…

NEW DELHI : Rising…

Tata Consultancy Services (TCS) and Infosys, the top two IT services firms, are slated to report March quarter earnings this week. This would be followed by HCLTech, Wipro, Tech Mahindra and others during this month. The March quarter performance could also set the tone for FY24, in which experts expect deferred deals for the industry leading to slower revenue realization and slowdown in new deal bookings. Omkar Tanksale, equity research analyst at Axis Securities, said the…

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Electronics hardware distribution firm Redington, known for reselling Apple, HP products in India, is diversifying into IT services solutions over the cloud, a top executive told ET.The idea is to cater to “large deals from small companies and small deals from large companies,” an area currently not serviced by large or mid-cap IT companies, Rajiv Srivastava, managing director of the group, said in an exclusive interview.Amid the Covid-19 pandemic, Srivastava said the company got a sense of the industry’s shift to the…

Tata Consultancy Services (TCS) is poised to close additional deals worth $1 billion with British retailer Marks & Spencer in the next few weeks, people aware of the developments said. This will mark this year’s biggest deal win for India’s top software exporter, which is also in line to renew its existing five-year engagement with the UK-headquartered company.“Apart from the 2018 deal renewal, there are multiple additional deals in the pipeline with a cumulative value of over $1 billion that M&S is expected to…