Bangalore, India - July 26, 2011:
Wipro BPO, the Business Process Outsourcing arm of Wipro Technologies, the Global Information Technology, Consulting, and Outsourcing Business of Wipro Limited (NYSE: WIT) has been recognized by Gartner, Inc. in the Leaders quadrant in the report, "Magic Quadrant for Comprehensive Finance and Accounting (F&A) BPO, Global," authored by Cathy Tornbohm and published June 29, 2011.
Gartner positioned Wipro in the leaders quadrant based on the evaluation criteria of ability to execute and completeness of vision. The report evaluated a qualified group of 16 vendors in the F&A BPO market. As described in the report, "Leaders are performing well today, both with a clear vision of market direction and by actively building competencies to sustain their leadership position in the market. The comprehensive F&A BPO players in this quadrant generally share superior market understanding, have a global client base, an extensive network of well-distributed and highly populated global delivery centers catering for multiple languages, a good balance of transactional and high-end F&A delivery and innovative well communicated and marketed sales offerings."
According to the report, "Gartner defines comprehensive finance and accounting (F&A) processes as the outsourcing of three or more finance processes to a single provider." The report also said "This Magic Quadrant offers a deep analysis of the competitive positioning for comprehensive F&A BPO services by showcasing the relative lacing of the main players in the market according to a variety of criteria, and by offering detailed strengths and cautions for each of the included vendors."
Manish Dugar, Sr. Vice President and Global Head, Wipro BPO , said, "We believe that our position in the Leaders Quadrant is testimony to our ability in the seamless delivery of end-to-end Finance and Accounting (F&A) services from multiple global locations. We have been able to leverage our extensive technology capabilities, clearly shaping the vision for the next generation of F&A outsourcing. With the right expertise and blend of talent, tools and methodologies, Wipro BPO has been able to deliver complex programs and consolidate operations, for our customers, to achieve upfront financial benefits. We feel this recognition validates our strategy and the significant investments that we have made in our F&A practice to improve our pipeline and add measurable business value to our clients."
Wipro has 6000+ dedicated employees delivering end-to-end services across the full spectrum of finance and accounting functions, including procure-to-pay, order-to-cash and record-to-report to support all the functions of the CFO's office.
It operates from 16 centers in 10 countries including Poland, Romania, Brazil, China, Mexico, U.S. and India (Bangalore, Delhi, Chennai, Pune, Hyderabad and Mumbai).Vertical market strengths for F&A BPO include communications, financial services, retail and breweries.
Wipro BPO, the Business Process Outsourcing service line of Wipro Technologies, is one of the largest BPO service providers on a global delivery platform. Wipro BPO has the capabilities to provide onshore, near shore, offshore and hybrid delivery options with operations in more than 28 centers in 11 countries. The services portfolio spans industry specific solutions in Customer Contact center (technical and non-technical; voice and non-voice), Finance and Accounting outsourcing, Human Resource outsourcing, Supply chain management, Knowledge services including Data Management and reporting, Legal process outsourcing, and Sales and Marketing outsourcing
About the Magic Quadrant
The Magic Quadrant is copyrighted June 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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
Media Contacts: Wipro Technologies
+1 (732) 509-1337
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.