BENGALURU : The timing of the Infosys Ltd transaction was steady and strong in the third quarter ending in December, usually a weak seasonal quarter for IT companies, Salil Parekh, CEO and MD, said on Tuesday.
The quarter ended in December is considered a weak seasonal quarter due to the holiday season in key geographies such as the US and Europe.
Read also: Why Dalit students are facing a funding crisis in educational institutions in India
“Many of the big offerings are new digital transformation projects … while the decision-making process has progressed at about the same pace as in Q2, the intensity of connecting with customers has increased, in fact, with everyone working remotely using video platforms “said Parekh.
In July, Infosys won a multi-year digital transformation agreement with US investment firm Vanguard. The agreement, set at about $ 1.5 billion, is one of the largest for the company and indicates that spending on digital technology is rising.
The company’s digital business grew by 25.4% last year and contributed 47.3% to revenue for the second quarter ended September. Parekh said the contribution could increase to 50% in the coming quarters.
Demand for digital offerings, such as cloud and cybersecurity, which grew during the pandemic, are critical growth areas for Infosys.
As part of its strategy to accelerate cloud activity, Infosys has launched Cobalt, its integrated services, solutions and platforms to help customers build cloud capabilities primarily in a secure innovation-driven environment.
To enable growth in its key areas, Infosys also focuses on retraining employees in various digital areas.
“Learning is an extremely important field that becomes the foundation for all our employees who build their future,” said Parekh.
He said the pricing environment is stable because there is an “extraordinary appetite” for investment in technology among customers, who use digital technologies not only to improve processes, but to stimulate growth. “So far, we have not seen unusual levels of price pressure. “
From an industry perspective, Infosys President Nandan Nilekani said that “IT consumption”, which refers to the impact that consumer-generated technologies can have on businesses, has led to increased adoption of the cloud, big data and artificial intelligence (AI) and cyber security among customers.
Once the covid-19 pandemic is over, Infosys will consider returning its employees to offices to build “social capital,” Parekh said. expects to continue.