Bangalore, India - October 5, 2011:
Wipro Technologies, the Global Consulting, IT Services and Outsourcing business of Wipro Limited (NYSE: WIT) today announced that it is implementing latest the Oracle Financial suite (12.1.3) of products for UGI Utilities Inc., a natural gas and electric utility company, a wholly-owned subsidiary of UGI Corporation, based in the United States. The solution helps UGI Utilities streamline financial processes, update latest compliance mandates and create agile IT systems, to effectively support their new business processes.
"Financial processes have to continuously evolve to align with changing business requirements and compliance mandates. An in-depth insight into our financial performance and effective management of Risk and Compliance is key to retaining our competitive edge. The planned upgrade to the latest Oracle Financial Suite will provide the flexibility and agility to align our processes to new business requirements. We are very pleased to be working with Wipro in this upgrade project and the progress we are making. In Wipro we have a partner who understands our industry and has proven expertise across the various modules of this suite. We are working jointly to implement a robust and cost effective solution for UGI", said Richard Myers, Oracle Upgrade Project Manager, UGI Utilities.
Wipro's proprietary and proven upgrade methodology, process templates and tools ensure predictability of success and seamless alignment of pre and post upgrade audits of the financial systems. Wipro offers 'Easy-Upgrade' solution as part of its overall Oracle application offerings helping customer organizations evaluate their current Oracle landscape, plan for the future and implement upgrades. Wipro estimates its 'Easy-Upgrade' solution can deliver up-to 40% reduction in assessment costs for organizations looking to embrace Oracle E-Business Suite - R12 or Oracle Fusion Applications.
"We are very excited to have engaged with UGI in their plans to implement Oracle Financial Services suite aligning to their new robust financial processes. Our proven expertise in implementation of large complex financial services projects and experience in managing Oracle Financial solutions is very useful in enabling seamless transition to new systems. Wipro's robust upgrade methodologies and processes will significantly expedite implementation at a reduced TCO for the customer. UGI has been at the forefront of driving high financial process standards and we are privileged to be associated with them," said Srini Pallia, Senior Vice President & Global Head, Business Application Services, Wipro Technologies.
This project implementing the Oracle Financial suite (12.1.3) will incorporate unique features into the financial applications – such as simplification of intercompany transactions among others. Wipro's 'Easy-Upgrade' solution for Oracle E-Business Suite will make the transition to upgraded applications a lot more predictable, efficient and cost effective.
"Wipro has continuously developed innovative solutions to help our clients drive faster business process improvement and operational productivity to maximize business value of Oracle Applications. Our success in leveraging proprietary solutions and accelerators like 'Easy-Upgrade' solution to speed implementation and reduce TCO is testimony of Wipro's constant endeavor to proactively support our customer's strategic requirements", added Srini Pallia.
About Wipro Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has 120,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
About UGI Utilities
UGI Utilities, Inc., a natural gas and electric utility, is a wholly-owned subsidiary of UGI Corporation, based in the United States. UGI Utilities, Inc., has headquarters in Reading and serves nearly 630,000 customers in northern, central and eastern Pennsylvania. Additional information about UGI is available online at www.ugi.com.
Further media information contact:
US:
Kathleen Ulrich
Wipro Technologies
+1 (732) 509-1337
kathleen.ulrich@wipro.com
UK:
Rahul Kadavakolu
Wipro Technologies
+44 7920205496
rahul.kadavakolu@wipro.com
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.
