Infosys - Ready for the Future in Oil and Gas Professional Services, Says IDC MarketScape Report
BANGALORE, India, June 30, 2014 /PRNewswire/ --
Infosys, a global leader in consulting, technology and outsourcing solutions, is positioned as a 'major player' for providing professional services to Oil and Gas Industry by IDC Energy Insights, a leading market intelligence and advisory services firm. The "IDC MarketScape: Worldwide Oil and Gas Professional Services 2014 Vendor Assessment" report uses the IDC MarketScape model to assess vendors for various capabilities. The report discusses both quantitative and qualitative characteristics that define success in today's Oil and Gas professional services.
Authored by Jill Feblowitz, IDC Energy Insights Vice President, the IDC MarketScape compared and evaluated 12 service providers on their capabilities in the Oil and Gas professional services space.
IDC MarketScape highlighted the 'impressive model of customer engagement' by Infosys. "For large accounts, Infosys has three tiers of review that occur at regular intervals. Infosys employees are measured on client satisfaction, performance and personal improvement. Customers report that Infosys has brought innovation to projects. This puts the company in a strong position for managed services contracts once the project is implemented."
The IDC MarketScape report quotes
- "Infosys has a well-conceived strategy for expanding into regions and market segments where there is room for growth. The company is investing in local resources in geographies like Iraq, Azerbaijan, Brazil, as well as using local partners in these regions for capabilities, local language and cultural fit."
- "Partnerships and alliances are important. Infosys is building on top of the Oracle high-performance data management computing stack. Infosys also works with SAP on mid-tier deployments and has a solution in development for drilling equipment and tool reliability on SAP HANA." "Infosys has worked with its clients to develop solutions that have strengthened its oil and gas credentials in the space. Technical data management is an area where Infosys has good experience particularly with well and production data."
Rajesh K Murthy, Executive Vice President and Global Head - Energy, Communications and Services
"The oil and gas industry faces increasing challenges in regulatory compliance, cyber security and safety management. Information systems to address these challenges sometimes need to be deployed into the most inaccessible parts of the world. At the same time they need to provide clear line of sight into every aspect of the business, so that preventive steps can be taken to mitigate risk. Infosys leverages the latest advances in Cloud and Mobility so that we address these fundamental goals without adding unnecessary costs to the business. "Being named as a "Major Player" in this study is a testimony to the value and innovation we bring to our clients in every aspect of the oil and gas business, as well as our long-term commitment to the sector."
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
IDC Energy Insights, "IDC MarketScape: Worldwide Oil and Gas Professional Services 2014 Vendor Assessment," Doc # EI249425, June 2014
Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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 earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect 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, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2014 and on Form 6-K for the quarter ended December 31, 2013. These filings are available at http://www.sec.gov. Infosys 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. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.