Out-of-the-Box Integration to Enable Financial Institutions to Streamline Business Processes, Improve Operational Efficiency
REDWOOD SHORES, Calif. and BANGALORE, India - June 30, 2005
Infosys Technologies (NASDAQ:INFY) and Oracle today announced Infosys will integrate Oracle® E-Business Suite applications into Finacle, Infosys' universal banking solution. The integration will enable financial services organizations to acquire a world-class core banking solution unified seamlessly with leading financial, ERP and performance management applications - streamlining IT management and support.
"Our decision to integrate Oracle E-Business Suite applications will enable us to deliver 'out of the box', a common set of accounting applications - as well as expanded project and corporate performance management capabilities - across Finacle," said Girish Vaidya, Senior Vice President and Business Head -Finacle, Infosys Technologies."As a Certified Advantage Partner in the Oracle PartnerNetwork, Infosys shares a long-standing relationship with Oracle. We are confident that our new integration initiative will take our relationship to even greater heights."
Infosys will integrate a range of Oracle E-Business Suite applications, spanning financial and corporate performance management, project management and business intelligence. Targeted applications include: Oracle Financials, Oracle Procurement, Oracle Projects and Oracle Balanced Scorecard.
The integration will introduce BPEL (Business Process Execution Language) workflow process management to standardize business flows across financial services organizations. Oracle E-Business Suite's "once-and-done" approach to data entry will help Infosys customers to streamline business processes and improve operational efficiencies.
"The integration of Oracle E-Business Suite applications, using a standards-based approach for business process management, will provide a key differentiator for Infosys," said Andrea Klein, Vice President-financial services, industry strategy and marketing, Oracle. "Traditionally, financial services institutions have struggled with integration of their core banking and business management solutions - adding a new level of complexity to their IT environments. With this out-of-the-box integration, customers will be able to acquire both world-class core banking and e-business solutions that work together- simplifying solution management."
Oracle PartnerNetwork is a global business network of 15,000 companies who deliver innovative enterprise software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer customers' leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.
Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging agile, new generation technologies. The solution addresses the core banking, e-banking, treasury, wealth management, CRM and cash management requirements of universal, retail, corporate, community and private banks worldwide. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class. For more information, visit www.infosys.com/finacle
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle visit our Web site at http://www.oracle.com
Infosys Technologies Ltd. (NASDAQ: INFY) defines, designs and delivers IT enabled business solutions. These provide our customers strategic differentiation and operational superiority, thereby increasing business competitiveness. Each solution is delivered with a high degree of time and cost predictability that ensures peace of mind. With Infosys, you get a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch your IT budget by leveraging the Global Delivery Model that the company pioneered. For more information visit www.infosys.com.
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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 earnings, 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 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, 2005 filed on April 26, 2005 and Registration Statement on Form F-3 filed on December 20, 2004, and the amendments thereto filed on January 18, 2005, April 26, 2005 and May 23, 2005. These filings are available at 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. 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.
For further information, please contact: PR_Global@infosys.com