New York, USA and Bangalore, India - January 12, 2010:
Wipro Technologies, the global IT services division of Wipro Limited (NYSE:WIT) and Oracle today announced the launch of the co-developed Oracle Application Integration Architecture (AIA) Process Integration Pack (PIP) for the retail industry. The Oracle AIA PIP integrates Oracle Retail Merchandise Operations Management and the Oracle E-Business Suite Financials using Oracle Application Integration Architecture (AIA) to offer customers a pre-configured, supportable and upgradeable integration of the retail merchandising execution applications with the financial operation control applications.
This Oracle AIA PIP addresses some of these key financial operation control processes for retail merchandising system including - Inventory Valuation, Revenue Recognition and Merchandising Procure to Pay.
This Oracle AIA Process Integration Pack development is part of the larger co-innovation agenda between Oracle and Wipro and is driven by master services agreement signed earlier in 2009. Wipro is one of the first partners to sign such an agreement with Oracle wherein end-to-end industry process solutions across five industries including communication, retail, consumer products, hi-tech, and industrial manufacturing would be developed. This integration pack is part of an overall strategy to provide a comprehensive solution footprint for the retail industry based on Oracle’s best of breed applications using Oracle Application Integration Architecture (AIA).
“The Oracle Financial Operations Control Integration Pack for Oracle Retail Merchandise Operations Management and E-Business Suite Financials will offer our retail customers and partners new opportunities to maximize the value of their Oracle investments,” said Duncan Angove, General Manager and Senior Vice President, Oracle Retail. “The solution is designed to reduce complexity, making it easier for retailers to take advantage of opportunities for short-term value creation within their businesses while also helping to provide long-term competitive advantage.”
“We are excited to have Wipro as a partner. With Wipro’s expertise in industry specific business processes in collaboration with our market leading solutions, we have been successful in co-developing pre-built, best practice integration products for the retail industry which can be now deployed in a rapid and cost effective manner,” Duncan further added.
Speaking on the occasion Langbert Walker, Global Head Oracle Practice, Wipro Technologies said “This co-development initiative is in line with our strategy to invest heavily in Oracle technology to provide industry specific solutions. The PIP has been developed keeping in mind the industry necessity to have an integrated solution across retail operations and financial back office accounting.”
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and data center managed services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
For more information, please visit our website at www.wipro.com
Mangala Koti Singhal
+ 1 (732).216.6242
+44 792 020 5496
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.