East Brunswick, New Jersey, USA and Bangalore, India - September 12, 2012:
Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Ltd. (NYSE: WIT) announced that it has been positioned as a Thought Leadership "Best-In-Class" in the CEB TowerGroup Outsourcing Technology Analysis Report 2012.
Wipro has been investing in domain and technology led thought leadership and has delivered innovations in areas close to the financial services business such as Customer Experience, Risk & Compliance, Channel Transformation and Analytics.
"In the last few years we have seen dramatic changes in the Financial Services landscape. Discussions with our customers have been moving away from purely showcasing capabilities to demonstrating insights on how financial institutions can do business better," said Soumitro Ghosh, SVP and Global Head – Financial Solutions, Wipro Technologies. "Being recognized as a thought leadership "best-in-class" in the financial services industry demonstrates our efforts to engage with customers as a business partner, delivering innovative business solutions that go beyond the traditional ambit of an IT services provider."
"The competitive landscape coupled with the growing need of financial institutions for both shifting the cost curve and improving operations has resulted in new value being delivered by leading outsourcers," said CEB TowerGroup senior research director Rodney Nelsestuen. "Specifically, companies delivering thought leadership are becoming an integral part of their client institution's operational strategy and not merely a service provider. In short, leading outsourcers are evolving their capabilities from helping to run the institution to helping transform it."
According to CEB Towergroup's report:
- Wipro is able to demonstrate process and delivery innovation through their consulting arm, as evidenced by their ability to bring intelligence from global consulting engagements to bear on a client project.
- Wipro has long been providing client services such as executive forums and hosted conferences, engaging with customers as a business partner rather than solely as a pure IT services provider.
- Wipro delivered on several key innovations, including a risk management framework for insurance.
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 135,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
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CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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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.