Infosys Limited
’s
INFY
business process management arm, Infosys BPM, on Thursday, announced a five-year extension to its strategic partnership with
Newmont Corporation
NEM
. The India-based IT services provider will help the world’s largest gold mining company in standardizing and digitizing its delivery models across mine sites.
Under the terms of the agreement, Infosys BPM will leverage its artificial intelligence (AI)-backed analytics capabilities, design thinking and automation to provide an enhanced end-to-end digital service to Newmont. The digitization is anticipated to enhance operational excellence and increase business value for the gold mining company.
Infosys BPM will deploy its DigiTran solution to support the digital transformation of Newmont’s delivery models across its mine sites. Notably, DigiTran applies advanced techniques like simulation and knowledge management, which enables remote transition of services. According to Infosys, the solution helps in establishing a standard operating procedure knowledge base to deliver transparent and harmonized processes.
Additionally, Infosys BPM will help Newmont in improving the latter’s touchless invoice processing across account payable processes. Moreover, Infosys BPM will provide a Digital Command Center to the gold mining company, which will give real-time visibility into process health metrics and analytical models. This would help Newmont in identifying root causes, and, thereby, boost performance across its operations.
Growth in Digital Business: A Key Positive
Solid demand for Infosys’ digital services as well as its cloud, Internet of Things (IoT), security and data analytics solutions is a key growth driver. The company benefits from higher investments by clients in digital transformation across workplaces. This has accelerated amid the coronavirus-induced remote-working environment.
The pandemic is boosting the digital transformation market. Per a Grand view research report, the
global digital transformation market size
is expected to see a CAGR of 22.5% from 2020 to 2027 and reach $1392.91 billion.
Notably, this Zacks Rank #3 (Hold) company’s digital revenues, which contributed 50% to the total revenues, grew 33.6% year over year (31.3% at constant currency) to $1.76 billion in third-quarter fiscal 2021. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Infosys has been attempting to reinforce its digital-transformation capabilities for expanding and solidifying its position in the highly competitive environment. The company is enabling its clients across more than 45 countries to create and execute strategies for their digital transformation.
We note that Infosys is looking to build a strong team of digital specialists in order to cater to clients across all verticals, whose key theme remains digital transformation. Reportedly, Infosys has built solutions, driven by AI and machine learning, to digitize the data supply chain.
Enhancing Partnerships
The company has been strengthening its core competencies by pursuing collaborations and acquisitions. Its alliance strategy is targeted at teaming up with leading technology providers, which allows it to cash in on the emerging technologies in a mutually advantageous and cost-competitive manner.
In order to boost digital, cloud, legacy modernization and automation business, Infosys cemented strategic tie-ups with Google, Adobe, Microsoft, Amazon Web Services and salesforce.com.
We believe that such efforts in the digital-transformation business will boost the company’s position to compete with its rivals like
Accenture
ACN
and
Cognizant
CTSH
.
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