Infosys BPO Ltd., a majority-owned subsidiary of Infosys, a global leader in consulting, technology and outsourcing, announced that it has been recognized in a number of BPO service categories by Gartner, Inc., in their recent Magic Quadrants announcements. Infosys BPO was positioned as a Leader in the Magic Quadrant for Finance and Accounting BPO1 and as a Niche Player in the Magic Quadrant for Payroll BPO Services2. Infosys McCamish Systems LLC, an Infosys BPO company, was also positioned in the 'Leaders Quadrant' in Gartner’s Magic Quadrant for North American Life Insurance Policy Administration Systems3.
Infosys BPO recognized in the Magic Quadrant for Finance and Accounting BPO:
- The Gartner Magic Quadrant positions Infosys BPO in the ‘Leaders Quadrant’. According to the research firm's report, Leaders are performing well today, both with a clear vision of market direction and by actively building competencies to sustain their Leaders position in the market.
- Infosys BPO’s finance and accounting practice is one of the largest and fast growing segments in the company.
- Infosys BPO offers end-to-end services from the transactional and analytical processes to higher end services such as, Enterprise Reporting, Analytics and Planning, Tax & Compliance including SOX and GAAP-IFRS convergence support.
- Over the past few years, Infosys BPO has made significant investments within the finance and accounting space to improve domain capabilities and deliver business value to clients.
- The company’s finance and accounting domain has over 80 global clients and employs about 14,000 professionals worldwide across Record to Report (RTR), Procure to Pay (PTP) and Order to Cash (OTC) services.
Infosys BPO placed in the Magic Quadrant for Payroll BPO Services:
- The Gartner Magic Quadrant positions Infosys BPO in the ‘Niche Players Quadrant’. As per the report, niche players typically concentrate on particular market segments, such as single-country clients, public-sector clients, or manufacturing sector or midsize organizations.
- Infosys BPO has significant experience as a payroll service provider, spanning basic processing capabilities and scalable experience to provide end-to-end, turnkey support for activities that run across the payroll life cycle; including technical activities and payroll help desk services.
- The company has constantly strengthened this domain through dedicated investments in current technologies, new platforms and service delivery capabilities.
- Infosys BPO helps generate over five million annual pay slips for 12 clients, covering over 300,000 employees.
- Infosys BPO offers end-to- end multi-country payroll services, spanning more than 80 countries.
Infosys McCamish recognized in the Magic Quadrant for North American Life Insurance Policy Administration Systems:
- The Gartner Magic Quadrant positions Infosys McCamish Systems LLC, an Infosys BPO company, in the ‘Leaders Quadrant’.
- Infosys McCamish with its expert technology and outsourcing credentials performs back-office services at a reduced cost, while enhancing quality, speed to market and security.
- The company’s VPAS® platform provides end-to-end servicing and administration in BPO, SaaS and Hybrid models for all types of Life Insurance and Annuity contracts.
- The company’s PMACS® platform is a series of software modules which address end to end the management of producers and their compensation. These can be deployed in License, SaaS, or BPO models.
- Seven of the top ten US insurers are among Infosys McCamish’s clients.
Gautam Thakkar, Chief Executive Officer and Managing Director, Infosys BPO:
"We believe this recognition is an acknowledgement of our commitment towards providing seamless end-to-end delivery of services across domains. Our strong industry expertise, backed by best-of-breed technology, enables us to consistently go beyond client requirements. Strategic investments in developing world-class solutions and deep domain knowledge help drive efficiency and effectiveness in realizing innovative and measurable business value for our clients."
1Gartner, Inc. ‘Magic Quadrant for Finance and Accounting BPO' by Cathy Tornbohm, 29 May 2013
2Gartner, Inc. ‘Magic Quadrant for Payroll BPO Services’ by Morgan Yeates, 20 June 2013
3Gartner, Inc. ‘Magic Quadrant for North American Life Insurance Policy Administration Systems’ by Steven Leigh, 19 June 2013
Infosys BPO Positioned in Leaders Quadrant of the Magic Quadrant for Finance and Accounting BPO -Gartner, Inc. 'Magic Quadrant for Comprehensive Finance and Accounting BPO, Global' by Cathy Tornbohm, 30 May 2012
Infosys BPO positioned in Leaders Quadrant of Magic Quadrant for Comprehensive Finance and Accounting BPO -Gartner, Inc. 'Magic Quadrant for Comprehensive Finance and Accounting BPO' by Cathy Tornbohm, 17 December 2009
Infosys BPO positioned in Leaders Quadrant of Magic Quadrant for Comprehensive Finance and Accounting BPO - Gartner, Inc. 'Magic Quadrant for Comprehensive Finance and Accounting BPO, Global' by Cathy Tornbohm, 29 June 2011
About the Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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.
www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 155,000+ employees, is Building Tomorrow's Enterprise® today.
About Infosys BPO
Infosys BPO Ltd. (www.infosysbpo.com), the business process outsourcing subsidiary of Infosys Ltd., was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process reengineering. Infosys BPO operates in India, Poland, the Czech Republic, the Netherlands, South Africa, Brazil, Mexico, Costa Rica, the United States, China, the Philippines, Japan and Australia, and as of June 30, 2013, employed 27,491 people. It closed FY 2012-13 with revenues of $583.1 million.
About Infosys McCamish Systems
Infosys McCamish (www.infosysmccamish.com), a U.S. based subsidiary of Infosys BPO, a part of Infosys (NYSE:INFY), is a leader in providing best in class technology platforms and service solutions for the financial services industry. With deep domain experience with Life Insurance companies, Work Site Product providers and Retirement companies globally, we partner with our clients to help them stay ahead of the innovation curve. Our technology platforms and services, combined with execution excellence and proven best practices, optimize our clients’ operations today while building tomorrow’s enterprise.
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, 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, 2013 and on Form 6-K for the quarter ended June 30, 2013. 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 unless it is required by law.