Bangalore, India and East Brunswick, New Jersey, USA - July 15, 2013:
Wipro Ltd. (NYSE:WIT), a leading Global Information Technology, Consulting and Outsourcing company announced that the American Society for Quality (ASQ) has recognized Wipro BPO for a Six Sigma Project implemented for a customer. The project was recognized by ASQ and voted on by attendees of the 2013 World Conference on Quality and Improvement as Best Project with 'Organizational Impact" at the International Team Excellence Awards, Indianapolis, USA.
The awards recognize and commend the impact of quality on customer relationships. The finalists of the "International Team Excellence Awards" comprised of 32 teams from across the world and global organizations spanning industries including Automobiles, Manufacturing, Pharmaceuticals, Financial Services & Insurance, Telecom, Military, Energy, Housing and ITeS.
Wipro BPO's Six Sigma Finance & Accounting project helped the client reduce ‘Unapplied Cash', a key business metric. Unapplied Cash describes cash received by an organization from external end-customers, without invoice specific information and remains in the end-customer account without being allocated. A high amount of unapplied cash leads to ‘aged outstanding' items for external end-customers and may result in incorrect financial reporting for the impacted customer collector organization. The Six Sigma project successfully helped Wipro's customer reduce Unapplied Cash, which in turn helped generate an accurate ‘receivables' report. This had a positive impact on external collections and the cash flow of the customer organization.
"We are delighted to receive this recognition from ASQ. We have consistently strived to maintain high standards of quality in delivery processes for our customers. This recognition is a wonderful testimony of Wipro BPO adding measurable business value to our customers through process excellence, collaboration and team work." said Manoj Punja, Senior Vice President and Global Head, Wipro BPO.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro 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 has a workforce of 140,000 serving clients across 57 countries. For more information, please visit www.wipro.com.
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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.