Bangalore, India - May 18, 2009:
Wipro Technologies, the global IT services business of Wipro Limited (NYSE:WIT) announced that its Business Process Outsourcing division, Wipro BPO has partnered with Oracle for best-of-breed HR platform solutions. Wipro has also selected The Hackett Group (NASDAQ: HCKT), a global strategic advisory firm, to provide empirical data, best practices and world-class performance insights on the development of its innovative bundled solution platform.
The solution simPlifyTM, allows employers to reduce and control cost as it provides an opportunity to centralize and standardize processes while eliminating duplicative management structures. The solution has the ability to leverage a many-to-one technology capability, while maximizing service quality and HR customer satisfaction.
Employers can focus on their strategic business opportunities and revenue generation through outsourcing of multi-function HR and Payroll functions. simPlifyTM delivers this unique value combination by integrating world-class performance insights and benchmarking metrics from Hackett with Oracle® PeopleSoft HCM and Wipro's globally optimized HR delivery capability. The solution is delivered on a Software-as-a Service (SAAS) model allowing employers to pay for what they use, as well as reducing the complexity, time, and invesTMent in technology implementation and maintenance. It provides clients with a scalable IT infrastructure that is offered as a multi-tenant model to achieve economies of scale and size.
With Wipro's global service delivery capability, Oracle's platform and Hackett's strategic insights on world-class performance, this solution can be leveraged across multiple global customers.
“We are very pleased with the results of our collaboration with Oracle, a most capable and reliable partner contributing truly leading business solutions. As a market leader, we are well-positioned to become the provider of choice for multinational organizations," said Ashutosh Vaidya, Head, Wipro BPO. “Building on that position of strength, we have engaged with Hackett to ensure the solution set enables the implementation of Best Practices. This is the only solution of its kind that can address the needs of multinational companies across the Asia-Pacific region, Europe and North America. In fact this is the first step in our platform story. We plan to have similar partnerships for our FAO and Procurement services as well."
According to Hackett Chairman and CEO Ted Fernandez, “Our research has consistently identified lack of innovation as one of the most significant challenges of business process outsourcing. The combination of tightly integrated Oracle applications, Wipro's proven global service delivery capability and the Hackett transformation guidance to establish a roadmap to best practice, is a highly innovative approach to drive world-class HR process excellence."
“BPO services powered by Oracle provide increased deployment flexibility through state-of-the-art software," said Tibor Beles, Vice President, Oracle Business Process Outsourcing. “The combination of Oracle's PeopleSoft software and industry-leading services from Wipro and Hackett, can help multinational organizations to achieve better HR process performance and reduced costs."
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 development, and maintenance 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.
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The Hackett Group, a global strategic advisory firm, is a leader in best practice advisory, benchmarking, and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insights from more than 4,000 benchmarking engagements, executives use Hackett's empirically based approach to quickly define and prioritize initiatives to enable world-class performance. Through its REL brand, Hackett offers working capital solutions focused on delivering significant cash flow improvements. Through its Hackett Technology Solutions group, Hackett offers business application consulting services that helps maximize returns on IT invesTMents. Hackett has worked with 2,700 major corporations and government agencies, including 97% of the Dow Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and 50% of the FTSE 100.
Oracle is a registered trademark of Oracle Corporation and/or its affiliates.
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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.