Infosys Named Wachovia's "IT Vendor of the Year"
Winners chosen against 120 Wachovia's vendors
Bangalore, India, March 15, 2007: Infosys Technologies Limited (NASDAQ: INFY), a world leader in consulting and information technology services, today announced that it was awarded Wachovia's IT Vendor of the Year for 2006. The honor was presented during Wachovia's inaugural Information Technology Vendor Awards ceremony in December, where the company recognized the significant achievements of its IT partners.
The IT Vendor of the Year award honors Infosys "for being the overall best-in-class supplier and for consistently demonstrating the highest level of performance in quality, integrity, delivery and innovation."
"At Wachovia, we count on our vendors to help us succeed in our business goals," said Wachovia CEO Ken Thompson.
"Infosys has been instrumental in helping us transform the way our IT organization operates and we are delighted to name it as our IT vendor of the year," said Wachovia Senior Vice President Mukesh Mehta.
The winner was selected based on a rigorous scorecard program that Wachovia implemented in 2006 to evaluate its key IT vendors. Wachovia's system managers, CIOs, and a member from its Global Supply Chain conducted the initial round of evaluations looking at criteria including:
- Delivers world class technology and services
- Understands Wachovia's business
- Treats the whole Wachovia enterprise as a single customer
- Single point of account management across the Wachovia organization
Five IT 'Vendor of the Year' finalists were selected and the final winner was chosen by Wachovia's Senior Leaders Panel.
"Wachovia's approach to vendor relationships is truly advanced. Vendors are treated like partners and are held accountable for performance, management and ultimate program success," said Ashok Vemuri, senior vice president and head of Banking and Capital Markets, Infosys Technologies. "Working with Wachovia has been a great experience for us and we are proud of the transformative work we've been able accomplish together."
Additionally, Wachovia honored Infosys with the Quality award for its outstanding delivery and execution in day-to-day performance of service.
Since engaging with Wachovia in 2005, Infosys has provided services to all of its lines of business, including retail and commercial banking, capital and wealth management, Wachovia Securities, retirement services, Evergreen, corporate and investment banking as well as Wachovia corporate. Infosys has shown significant value by bringing the necessary breadth of services and depth of talent the company needs to meet its business goals.
For more information about Infosys' Banking and Capital Markets Group, please visit: http://www.infosys.com/industries/financial-services/pages/index.aspx