Bangalore, India - November 19, 2010:
Wipro Technologies, the Global Consulting, System Integration and Outsourcing Business of Wipro Limited (NYSE:WIT) today announced that the implementation of a CRM solution, for Janalakshmi Financial Services, a leading national microfinance company, has been further extended to support Janalakshmi’s new ‘Retail Liability’ business. This implementation uses a leading public cloud CRM application. Wipro has already completed the successful implementation of the core loan origination process at Janalakshmi more than a year ago.
Wipro’s two year association with Janalakshmi is set to reach the next level by Wipro enabling Janalakshmi’s cloud environment to successfully support its ‘retail liability’ business. Faced with the need for a highly manageable and flexible solution for tracking collections and growing data volumes, Janalakshmi opted for the cloud CRM system. Starting from single group loans, the microfinance company has now moved to a wider basket of individual loans with optimized approval cycles.
“Wipro has been instrumental in shaping up our new liabilities business, by offering a seamless integration with third party in a secure and agile environment. Wipro ‘s implementation of the cloud CRM solution is helping us grow at significant pace by complete automation of business processes at reduced cost and time and timely slicing of business data for better view and control of our new business”, says Ramesh Ramanathan, Founder and Chairman of Janalakshmi.
“Wipro with Janalakshmi’s support was committed to streamlining the microfinance service provider’s business process flows, and close the loop from customer acquisitions, to processing loan applications and ensuring collections. The SAAS delivery model helped control IT outflows, enabling non linear growth, without compromising on data security, control and compliance vital for any business”, said CS Swaminathan, Group Practice Head - CRM & SCM, Enterprise Application Services at Wipro technologies.
Wipro is making significant investments in cloud services and is also the platinum sponsor for Dreamforce 2010.
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 datacenter 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 strong 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
About Janalakshmi Financial Services
Janalakshmi Financial Services is a for-profit NBFC urban microfinance institution (MFI), with the promoter stake held in the not-for-profit entity Janalakshmi Social Services. This is the only MFI in India structured in such a manner, with the deliberate intent of keeping the social spirit intact.
Janalakshmi Financial Services' market-based approach to financial inclusion is defined by three distinct characteristics: first, an exclusive focus on servicing the needs of the urban poor; second, a strong customer-value driven approach in designing financial products and services; third, the centrality of technology and processes as the foundation of a scalable enterprise.
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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.