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IT services

27 May, 2020, 09:03 PM IST

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IT SERVICES

Indian IT leans on govt spends, managed services as deals slow

While short-term projects are getting stalled, the managed services segment, which fetches significant revenue for service providers, has still not been impacted by the outbreak.

L&T Technology Services says recovery will take time

“This (slowdown) will continue in Q1 and some segments will start picking up in the seco...

Wipro cited as 'Leader' in worldwide cloud professional services vendor assessment

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  • Industry lobby group National Association of Software and Services Companies (Nasscom) has sought furloughs and temporary layoff of surplus employees, relaxing daily and weekly work-hour limits, allowing women to work at night from home and a self-declaration regime to comply with government rules.

    Pune-based Persistent Systems has, along with the Biocomplexity Institute, created Covid-19 response solutions for nurses as well as mobile apps for patients.

    In a study titled ‘Cloud Adoption & Risk Report – Work-from-Home Edition’, based on anonymized and aggregated data from more than 30 million McAfee MVISION Cloud users worldwide, the firm revealed potentially long-lasting trends that include an increase in the use of cloud services, access from unmanaged devices and the rise of cloud-native threats.

    Wipro’s products and platforms have been instrumental in helping clients deal with the impact of the Covid-19 pandemic, said the company in a press release.

    The former Chief Financial Officer of IT services major, Infosys Ltd, said the IT industry has done a "fabulous, unbelievable and remarkable" job in transitioning more than 90 per cent of its employees to work from home.

    The Mumbai-based company, in its 2019-20 annual report, said it has accelerated its localisation programmes.

    While large outsourcers like Infosys and TCS are confident that clients will consolidate their technology engagements under one roof to streamline costs, midcap firms such as Hexaware and NIIT Tech say they will win bigger deals amid consolidation opportunities, despite the widespread impact on several key verticals such as travel and hospitality.

    In a letter addressing shareholders in the company's annual report, TCS Chairman N Chandrasekaran said technology will play an "ever-larger role" in helping businesses adapt to the new normal and differentiate themselves in the post-COVID world.

    The company said all business verticals -- banking and capital markets, insurance, life sciences and healthcare, consumer and retail, and Hi-Tech -- contributed significantly to growth during the first quarter. ​“Through the 90-day period, we have picked up volume from others. We have picked volume from the ecosystem,” Tiger Tyagarajan, President and CEO of Genpact, told ET in an interview.

    The company is planning to hire 1000 employees by the end of June across markets. Companies such as Infosys, Wipro, TCS, WNS and others have delayed pay hikes and put promotions on hold as they see uncertainty over business growth in the wake of the coronavirus outbreak across key markets. CSS Corp has also paid 100% of variable salary to the majority of its employees.

    IT services companies may see business from US retailers fall sharply, as some non-essential and luxury brands shut stores and furlough employees, analysts said.

    Infosys, Cognizant, Tata Consultancy Services and Wipro service the retail sector in the US and analysts said their clients would eventually cut overall IT services budgets.

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