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Sector project Sector project Document Transcript

  • THE TOP-3 INDIAN IT GIANT 2012 Manohar Prasad PGDM (IT+IB) 1
  • THE TOP-3 INDIAN IT GIANT  A Sector Project Assignment  Submitted by:  Manohar Prasad PGDM (IT + IB) 2010-12Suryadatta Institute of Management & Mass Communication, Pune 2
  • CONTENTSI) Introduction of the Indian IT Sector…….…………………….7-10  IT outsourcing in India………..…………………………………….…7  India’s domestic IT market……………………………………………7-8  Indian IT industry ……………………………………………………..9  India’s Software Industry……………………………………………..10II) Introduction of the Companies……. …………………………11-17  TCS….…………………………………………………………….…11-13  Infosys……………………………………………………………….14-16  Wipro……………………………….…………………………..……16-17III) About Product/Services………………………………………18-28  TCS……………………………………………………………………18  Traditional service Line……………….………………………………19  Enterprise Solutions……………………………………………………20  BPO……………………………………………………………………23  Global Delivery Model………………………………………………..24-25  Talent Pool Management………………………………………………26  Foreign Exchange risk hedging Policy………………………………...27  TCS Revenue…………………………………………………………..28IV) Infosys Technologies Ltd…………………………………….29-32  Infosys Revenue Break-up……………………………………………31  Factors for Success…………………………………………. ……..31-22V) Wipro Technologies Ltd …………………………………….32-45  Seeking the Solution……………………………………………………….35-36  How Oracle Works…………………………………………………………32  What is Six Sigma………………………………………………………….37-38  Six Sigma Methodologies………………………………………………….40-42  Benefits to Wipro Technologies…………………………………………….45VI) Innovation…………………………………………………..…46VII) Current trends & Challenges………….………………………47-49VIII) Learning………………………………………………………50IX) Conclusion…………………………………………………….51X) References…………………………………………………….52 3
  • Objective To find out the best Strategies followed by the IT Companies of India. To find out the optimal usability of the software. To find out the current challenges of the IT industry. To find out the risks involved in any Software Project. 4
  • DeclarationI am very well aware of the ethics and guidelines one has to follow while working on a project in adisciplined manner. Being aware of a project regarding its Factuality and Authenticity, I have tried mybest to perform my task. All the information mentioned here throughout the project is true to the best ofmy knowledge and I declare it as true and the collection made through own website and by my ownpersonal observation and experience. The theoretical part is gathered from various Websites and referencebooks. Manohar Prasad 5
  • ACKNOWLEDGEMENTFirst and foremost, I offer my sincere gratitude to the founder Chairman, Dr. Sanjay B. Chordiya,who has supported me throughout my PGDM course with his patience and knowledge andallowed me to work in a professional way. I attribute the level of my Post Graduate degree to hisencouragement and effort. I would not have been completed the Sector project without his help. I wish to express my deep sense of gratitude to its Prof. V. S. Toley, Suryadatta Instituteof Management and Mass Communication for their guidance and useful suggestions, whichhelped me in completing the project work, in time. Needless to mention Prof. Sonal Kulkarni, Prof. Shilpa Agarkar, who had been a sourceof information and their timely guidance in the conduct of my project work. I would also like tothank Prof. Rishamdeep Kaur, for his valuable assistance in the project work. Finally, yet importantly I would like to express my heartfelt thanks to my beloved parentsfor their blessings, my friends, and all those who supported me directly or indirectly for theirhelp and wishes for successful completion of this project. Manohar Prasad PGDM (IT + IB) Session: 2010-12 SIMMC, PUNE 6
  • Introduction of the Indian IT SectorThe Indian information technology (IT) industry has played a major role in placing India on theinternational map. The industry is mainly governed by IT software and facilities for instanceSystem Integration, Software experiments, Custom Application Development and Maintenance(CADM), network services and IT Solutions. According to Nasscoms findings Indian IT-BPOindustry expanded by 12% during the Fiscal year 2011 and attained aggregate returns of US$71.6 billion. Out of the derived revenue US$ 59.6 billion was solely earned by the software andservices division. Moreover, the industry witnessed an increase of around US$ 7 million in FY2010-11 i.e. US$ 47.3 billion against US$ 40.9 billion accrued in FY 2009-10. IT Outsourcing in IndiaAs per NASSCOM, IT exports in business process outsourcing (BPO) services attained revenuesof US$ 48 billion in FY 2008-09 and accounted for more than 77% of the entire software andservices income. Over the years India has been the most favorable outsourcing hub for firm on alookout to offshore their IT operations. The factors behind India being a preferred destination areits reasonably priced labor, favorable business ambiance and availability of expert workforce.Considering its escalating growth, IBM has plans to increase its business process outsourcing(BPO) functions in India besides employing 5,000 workforces to assist its growth.In the next few years, the industry is all set to witness some multi-million dollar agreementsnamely:  A 5 year agreement between HCL Technologies and News Corp for administering its information centers and IT services in UK. As per the industry analysts, the pact is estimated to be in the range of US$ 200-US$ 250 million.  US$ 50 million agreement between HCL Technologies and Meggitt, UK-based security apparatus manufacturer, for offering engineering facilities.  Global giant Wal-Mart has short listed there Indian IT dealers namely Cognizant Technology Solutions, UST Global and Infosys Technologies for a contract worth US$ 600 millionIndias domestic IT MarketIndias domestic IT Market over the years has become one of the major driving forces of theindustry. The domestic IT infrastructure is developing contexts of technology and intensity ofpenetration.In the FY 2008-09, the domestic IT sector attained revenues worth US$ 24.3 billion as comparedto US$ 23.1 billion in FY 2007-08, registering a growth of 5.4%. Moreover, the increasingdemand for IT services and goods by India Inc has strengthened the expansion of the domesticmarket with agreements worth rising up extraordinarily to US$ 100 million. By the FY 2012, thedomestic sector is estimated to expand to US$ 1.7 billion against the existing from US$ 1 billion. 7
  • Government initiative in Indias domestic IT Market  The Indian government has established a National Taskforce on IT with an aim of formatting a durable National IT Policy for India.  Endorsement of the IT Act, which offers an authorized structure to assist electronic trade and electronic operations.Major investments in Indias domestic IT Market  According to Andhra Pradesh Government the states SEZs and Software Technology Parks of India (STPI) will witness an investment of US$ 3.27 billion in the next few years.  VMware Inc, San Francisco-based IT firm is looking forward to invest US$ 100 million by 2010 in India.  EMC Corporations total Indian assets is expected to reach US$ 2 billion by 2014 8
  • Indian IT IndustryThe Indian IT sector persists to be one of the flourishing sectors of Indian financial systemindicating a speedy expansion in the coming years. As per NASSCOM, the Indian IT exports areanticipated to attain US$ 175 billion by 2020 out of which the domestic sector will account forUS$ 50 billion in earnings.In total the export and domestic IT sector are expected to attain profits amounting to US$ 225billion along with new prospects from BRIC nations and Japan for its outsourcing operations. 9
  • Indian Software IndustryThe India Software Industry has brought about a tremendous success for the emerging economy.The software industry is the main component of the Information technology in India. Indias poolof young aged manpower is the key behind this success story. Presently there are more than 500software firms in the country which shows the monumental advancement that the India SoftwareIndustry has experienced. The Indian Software Industry has grown from a mere US $ 150 million in 1991-92 to astaggering US $ 5.7 billion in 1999-2000. No other Indian industry has performed so well againstthe global competition. According to statistics, Indias software exports reached total revenues of` 46100 crores. The total share of Indias exports in the global market rose from 4.9 per cent in1997 to 20.4 percent in 2002-03.It is expected that the India Software Industry will generate a total employment of around fourmillion people, which accounts for 7 per cent of Indias total GDP, in the year 2008. Today, theSoftware Industry in India exports software and services to nearly 95 countries around the world.The share of North America (U.S. & Canada) in Indias software exports is about 61 per cent. In1999-2000, more than one third of Fortune 500 companies outsourced their softwarerequirements to India.The Government has also played a vital role in the development of the India Software Industry.In 1986, the Indian government announced a new software policy which was designed to serveas a catalyst for the software industry. This was followed in 1988 with the World Market Policyand the establishment of the Software Technology Parks of India (STP) scheme. In addition, toattract foreign direct investment, the Indian Government permitted foreign equity of up to 100percent and duty free import on all inputs and products.The software industry being the main component of the IT Industry in India has also helped theIT sector in India to grow at a good pace. As per the proceedings taking place in the softwareindustry the future of the India Software Industry looks promising. 10
  • Introduction of the CompaniesI have selected the top-3 IT Companies of India. The list of the selected Companies is as follows:  Tata Consultancy Services Ltd. (TCS).  Infosys Technologies Ltd.  Wipro Technologies Ltd.Tata Consultancy Services Ltd. (TCS) TCS established in 1968 by Tata Sons, is the largest Indian IT services company and one of thetop 10 global IT services company. TCS has pioneered the concept of off shoring IT services inIndia. Besides IT services, TCS also provides IT Enabled Services (BPO), Software Products,and Engineering and Industrial Services (EIS). The Tata Group pioneered the Infotech services industry in India when it established TataConsultancy Services — now India’s most valuable IT Company and Asia’s largest softwarehouse — way back in 1968. The Group has, since those early days, sharpened its focus oncreating technology solutions to help and connect the businesses and the people they touch. Thatis the philosophy driving the current Tata thrust in telecom services. Tata Consultancy Services (TCS) is an IT services, business solutions and outsourcingorganization that delivers real results to global businesses, ensuring a level of certainty that isunmatched in the industry. TCS offers a consulting-led, integrated portfolio of IT and IT-enabledservices delivered through its unique Global Network Delivery Model TM, recognized as thebenchmark of excellence in software development.Tata Consultancy Services employs over 190,000 of the world’s best trained IT consultants inover 42 countries. The company generated consolidated revenues of $6.3 billion for the fiscalyear ended March 31, 2010 and is listed on the National Stock Exchange and Bombay StockExchange in India.Key Business Areas  IT Services – rich technology skills and integrated processes, delivered across the world with unparalleled rigor and quality  Business Solutions – comprehensive strategies, extending from analysis to ideation to solution, drawing upon functional and industry knowledge  Outsourcing – superior, scalable services and programmes, from optimising discrete functions to managing entire business solutions and service areas with reduced risk and cost.Business Drivers1. Broad Offering Portfolio: TCS offers technology solutions and services across industries andbusiness areas. The company’s Broad Portfolio of Offerings provides clients with the right set ofcapabilities for the right problems at the right time. TCS applies deep Industry experience toprovide a wide range of IT solutions, consulting, business process outsourcing (BPO),engineering services and IT infrastructure services. In addition, TCS has specialized solutions for 11
  • small and medium enterprises (SMEs) which employs an innovative service model - TCS IT-as-a-Service. This model leverages TCS’ leadership in technology and service innovation to offerintegrated end-to-end managed solutions to small and medium businesses. Furthermore, TCS’platform-based BPO model focuses on undertaking the management and execution of the client’snon-core business processes on its own technology platform. To shorten implementation timesand leverage best-in-class practices, TCS’ platform-based approach incorporates configurableplug-in templates and shared synergies through multi-client system architecture.2. Global Network Delivery Model™: TCS’ Global Network Delivery Model (GNDM™)delivers services and solutions anywhere, with consistently superior quality. At the centre of thismodel are its people, providing skills at the appropriate scale and nurtured by the firm’s ability toattract and retain talent. This combination of platform and people – assisted by collaborativetools – translates to processes that are consistent and effective everywhere.The model’s highlights are:  Highly refined processes that have earned TCS the first global SEI-CMM Level 5 assessment  Execution by a talented, scalable professional force  On-site, domestic, and offshore staffing  Broad technology and domain expertise  Effective and scalable talent management  Delivery through a network of integrated, global development centers  Multi-continent and interconnected development centre network  State-of-the-art, redundant telecommunications network  Global collaboration tools.The firm’s solution centers are at the heart of this delivery process and are located across theworld. Each centre is classified as Global, Regional or Near Shore, and provides a unique set ofservices and solutions to our clients.  Global Solution Centers: Brazil, China, India • Very high scale • Serves large customers • High depth & breadth of skills • Matured processes  Regional Solution Centers: Argentina, Chile, Colombia, Ecuador, Hungary, Mexico, Morocco and Uruguay • Medium scale • Serves local customers • Select capabilities • Addresses language and cultural challenges  Near-Shore Solution Centers: Canada, Luxembourg, Singapore, South Africa, UAE, UK and USA • Smaller scale • Customer geography & time zone • Helps to build customer comfort 12
  • 3. Focus on Innovation: TCS Innovation Labs work across domains, new technology areas andare spread across geographies. These Labs attract the best R&D talent globally, are equippedwith state-of-the-art infrastructural resources, and have to their credit many achievements acrosssoftware engineering standards, business & domain innovations, and technology products. Thework being carried out in TCS Innovation Labs includes areas such as next generation softwareprocesses, human-computer interface, bioinformatics, nanotechnologies, embedded solutions,grid computing and utility computing.TCS’ clients also benefit from its Co-Innovation Network (COIN™), which identifies andrefines useful emerging technologies. The work of the Innovation Labs is strengthened throughcollaborating with universities such as MIT and Stanford and teaming with technology leaderssuch as IBM and Microsoft. This blending of ideas and best practices helps TCS maintainclients’ technological edge.The Network’s highlights are:  Proven innovation from India’s first and largest software R&D unit  Partnerships with both current market leaders and entrepreneurs with rule-changing approaches  Investments in research to develop next-generation solutions  Close collaboration with clients to generate relevant, actionable innovationCorporate SustainabilityCorporate Sustainability (CS) in TCS is focused on health and education initiatives together withensuring diversity in the workforce, ethical global sourcing and concern for the environment.While TCS endeavors to use its IT core competence to address societal problems, one keydifferentiator for TCS is the involvement of its employees through volunteer activities conductedunder the umbrella of Maitree, an association of TCS employees and their families across theglobe that is active in various communities and is a key vehicle of CS within the company.Maitree also addresses TCS’ internal stakeholders and engages TCSers and their families in avariety of meaningful activities including music, dance and sport.CS activities include structured engagement with stakeholders, especially with academics andStudents; and the use of IT core competence to address large-scale societal problems and launchnew solutions like mKrishi, an SMS-based agro advisory service. Be it girl child education inSouth Asia in collaboration with UNICEF or adult literacy programmes in South India, TCSbelieves in using IT as an instrument for social development and change.Other TCS community initiatives have been in areas addressing environmental and civicproblems; setting up and maintaining infrastructure for urban beautification, pollution reductionand healthcare; waste management in the office environment; water treatment; and building aworld-class super-specialty hospital for children in Mumbai city. 13
  • Infosys Technologies Ltd.Infosys is a large software company, based in Bangalore, India, specializing in customizedsoftware and development solutions. The company provides business consulting, systemsintegration and application development to multinational companies using its proprietary “GlobalDelivery Model,” which divides large projects into components that are then completed indifferent parts of the world, including India and the US. Infosys clients include U.S. corporationsNorthwestern Mutual Life Insurance, VISA, and retailers Nordstrom and JCPenney, andJapanese companies like Toshiba.Infosys was founded in 1981 by seven people with the American equivalent of $250. By 2004, itwas a $1 billion company. By 2005, it became famous as the company that opened the eyes ofbest-selling author Thomas Friedman to the dramatic shifts taking place in the world ofbusiness— a phenomenon he documented in his paradigm-defining book, The World Is Flat.Although the Bangalore, India-based IT and consulting company was a great success by anystandard, Infosys already was thinking bigger. In 2004, Infosys’ leadership plotted a course forgrowing the company from $1 billion in annual revenues to $3 billion by 2007. Business as usualwouldn’t get it there, however, even though business was booming.Based in Bangalore, India, Infosys is a global leader in IT and consulting with revenues of overU.S. $4 billion. Infosys offerings range from business and technology consulting, to applicationservices, systems integration, product engineering, custom software development, ITinfrastructure services, and business process outsourcing. Infosys has over 40 offices anddevelopment centers in India, China, Australia, the Czech Republic, Poland, the UK, Canada andJapan. Infosys has more than 91,000 employees.“We’ve been a high-growth company for some time. But if we want to continue that pace ofgrowth every year, we can’t do more of the same thing for too long,” says Gaurav Rastogi,associate vice president and head of global sales effectiveness for Infosys. “We have tocontinually upgrade ourselves and be different things to our clients at different times.”To sustain its torrid growth and be those “different things,” Infosys needed to build relationshipswith its clients on a far more strategic level. That meant moving to a new sales strategy, andrequired salespeople and sales leaders who could execute that strategy.“We wanted to get the higher-level, more-strategic projects,” says Pat Martin, principalconsultant, unit manager, for the Infosys Leadership Institute.These projects included “transformational” IT projects for Fortune 1,000 organizations thatproduced large-scale outcomes such as improved information flow, greater efficiencies, reducedtransaction costs, or shorter order cycle time— projects that were beyond the scope of theofferings that made Infosys a $1 billion company.To sell these projects, Infosys needed to change its sales strategy to become a more strategicpartner to its clients. That meant selling to higher organizational levels. It also meant thatInfosys needed a global sales force that could sell more complex solutions. 14
  • “We needed to raise the bar and grow the capabilities of our people to be more consultative,”says Martin. “We needed them to do a more strategic-type sell, and to work more at theC-suite levels to understand the client’s global strategy and how things in the marketplace affectthem.”Infosys has used its corporate governance practices and in particular increased transparency, as adistinguishing competitive feature for several years before its Nasdaq Listing. Given that amajority of its business is based in the US, Infosys believes that leadership in corporategovernance will inspire confidence among its current and potential customers and employeesboth in its home market of India and in Western markets, where it may be less well-known. Thecompany’s governance policies are more robust than those promoted by India’s domesticcorporate governance codes, even the most recent guidance on audit committees, a SEBIcommittee led by Infosys’ own chairman.For a cash-generative company with no debt on its balance sheet, there would seem to be littleneed for a US listing, but the company clearly saw this as an important step to build brand equityamong its US client base, create a currency for acquisitions, and allow the grant of employeestock options in a US-registered security in order to compete for US-based talent.Since its listing, Infosys has decided to comply with all US securities laws, even those that donot apply to it as a company not incorporated in the US. Except for parts of Rule 16(a) of theSecurities Exchange Act 1934 (See Section 3.1), Infosys behaves as if it were fully regulated bythe SEC, though its corporate law remains, of course, Indian. It submits all SEC filingselectronically through the EDGAR system, including annual and quarterly reports and even S-8filings about employee stock option awards. It also files each of these reports within 60 days,even though filing deadlines have until last year been more generous.Infosys has scored strongly or very strongly in each of Standard & Poor’s four sections ofanalysis. Its Ownership Structure is transparent and well disclosed, and there is a strict separationof ownership from control among the founder/managers of the company. Financial StakeholderRelations are also assessed strongly: though shareholders cannot legally vote for all items by postor the internet, ownership rights are strongly defended, there is a simple share structure, andthere are no explicit anti-takeover defenses in the company’s Articles.Financial Transparency and Information Disclosure is assessed as very strong: financial and non-financial disclosure is very strong and in some cases Infosys provides thoughtful disclosure onitems that few other companies have pursued; timing and access to disclosure is very stronggiven the company’s compliance with the U.S. SEC’s Regulation Fair Disclosure and itslobbying of the Indian regulators in this area. Board Structure and Process is assessed as stronggiven the work that has been put in to date to bring onto the board a large number of outsidedirectors in a relatively short amount of time. The board is nearing completion of its transitionfrom an insider-dominated group of directors affiliated with a founding group to a globally-representative, majority independent body. Although the board is generally effective andcohesive, a number of aspects continue to develop including the involvement of non-executivesin strategy-setting and the balance between the roles of the executives and non-executive 15
  • directors. Compensation for non-executives, while among the highest in India, risks encounteringobjections from domestic shareholders while at the same time risks not being high enough tocontinue to attract the best-qualified director.Wipro Technologies Ltd.Wipro Limited was established in 1945 and commenced its operations in 1946 as a vegetable oilcompany. In the early 1980s, Wipro diversified into the Information Technology sector withLiberalization hitting India in the 1980s. This has been a fascinating transformation from avegetable oil company into a global IT services giant.Today, Wipro Technologies has become a global service provider delivering technology drivenbusiness solutions that meet the strategic objectives of clients. Wipro has 40+ ‘Centers ofExcellence’ that create solutions related to specific needs of Industries. Wipro can boast ofdelivering unmatched business value to customers through a combination of process excellencequality frameworks and service delivery innovation.A strong emphasis upon building a professional work environment, leaders from within, andhaving a global outlook for business and growth have led to innovation of people processes on acontinued basis. Over the years, Wipro has significantly strengthened its competency basedpeople processes and demonstrated innovative practices in talent acquisition, deployment, anddevelopment, based on strategic needs.Wipro Technologies is a global services provider delivering technology-driven businesssolutions that meet the strategic objectives of clients. A leading provider of communicationnetworks in the US required improvement in the product performance of a telecom applicationusing Six Sigma methodologies. Thus, with the growing importance on aligning businessoperations with customer needs and driving continuous improvement, Wipro began movingtowards focusing on Quality, thereby, creating a learning environment that led to implementationof Six Sigma. Integrating Six Sigma concepts was also intended to bring rigor in effectiveupstream processes of the software development life cycle. Implementation of Six Sigmamethodologies brought in quantitative understanding, cost savings, and performanceimprovement towards product quality.Some of the key challenges involved were:  Reduce the data transfer time  Reduce the risk  Avoid interruption due to LAN/WAN downtime.  Parallel availability of the switch for the other administrative tasks during the same period.Wipro Technologies is a business unit of Wipro Limited and is engaged in providing on-site, off-site and offshore software development services. With over 9000+ software professionals spreadacross 21 Development Centers across the globe, the company’s software services business hasgrown on the foundation of continued focus on customer satisfaction and quality. 16
  • The Bangalore-based company has just moved its corporate office into an impressive all-Wiprocampus in sub-urban Bangalore. Further, it has Development Centers in Hyderabad, Chennai,Gurgaon, Pune & Mumbai in India. Moreover, it also has presence internationally in Japan; keyEuropean markets such as Finland, France, Germany, UK – as well as offices in Canada and theUS.In terms of numbers and statistics, Wipro Technologies’ financial highlights for the year 2001 –02 speak for themselves  Profit After Tax was at a record Rs. 8.9 billion representing an increase of 32% over previous year  Revenue increased 28% for the year ended March 31, 2002, at Rs. 23 billion.  Wipro Technologies retained its margin with PBIT growth of 28% in line with revenue growthTruly, Wipro is well on its way to realize its vision of breaking into the Top 10 IT ServiceProviders list in the world. The company’s drive is best exemplified by its mission statement -“With utmost respect to Human Values, we promise to serve our Customer with Integrity,through a variety of Innovative, Value for money Products & Services, by Applying Thought,day after day.”Wipro delivers unmatched business value to customers through a combination of processexcellence, quality frameworks and service delivery innovation. Wipro is the Worlds firstCMMi Level 5 certified software services company and the first outside USA to receive theIEEE Software Process Award.Wipro has one of the most mature Six Sigma programs in the industry ensuring that 91% of theprojects are completed on schedule, much above the industry average of 55%. Six Sigmaprovides the tools for continuous improvement on existing processes thereby helping sustain theSEI-CMM Level 5 and CMMi certifications. 17
  • About Product/ServicesTata Consultancy Services Ltd.Business modelTCS derives major portion of the revenue from IT services followed by BPO, EIS and SoftwareProducts. However the share of IT services is coming down (from ~98% in FY02 to 85% inFY07) because of relatively higher growth in other segments, especially BPO (which grew from0.3% of total revenue in FY02 to 6% in FY07).TCS has relatively higher share of IT services, in percent terms of Indian IT exports (as can beseen in the table given below), reason being higher share of captive units in total Indian BPOexports (which is around 45% to 50%), whereas in case of total Indian IT services export, shareof captive unit is only 2% to 3%. 18
  • IT ServicesWithin IT services, share of Traditional service lines (ADM) in revenue is more than 50%,however with increase in focus on other service lines (Testing services, Infrastructure Structureoutsourcing and Consulting services) the share of traditional service line in IT services has comedown to 61% in FY07 from 65% in FY06 (in spite of 30% growth on Y-o-Y basis). 1. Traditional service line (ADM): - I. OFFSHORE PLAYERS V/S MNCIn spite of the concern of Indian players losing cost advantage in traditional service lines againstglobal service providers (IBM, EDS) because of the high wage inflation of around 12%-15% inIndia, as compared to 3% in the U.S., Indian players have maintained their edge by providingquality services (as can be seen in the table given below). However, the main area where Indianplayers are lagging behind the global service providers is domain capability. Tier I Indian ITcompanies are planning to get over this shortcoming by increasing their consulting capability. II. TCS V/S OTHER OFFSHORE PLAYERSAmong the top four Indian IT companies, Infosys has highest total score in ADM space (on theback of very high score in strategy), followed by TCS -having highest score in current offeringand market presence (as can be seen in the table given below). Considering its strengths in ADMspace TCS is expected to maintain the lead among offshore players going forward. 19
  • 2. Enterprise Solutions: -Enterprise solutions are ready made software packages (such as SAP), which are implemented byIT service providers after certain modifications as per the requirements of clients. The level ofcustomization done by IT companies is around 20% of total efforts level. Hence being less laborintensive the cost benefit provided by off shoring companies is relatively less as compared toother service lines. Further, global service providers such as IBM, Accenture and CSC havingsuperior industry/business domain competencies have an edge over offshore players. Due to thisabove-mentioned global service providers are classified in leaders quadrant (refer Annexure 4),whereas TCS, Infosys, Wipro and Satyam are classified in challengers quadrant (refer Annexure4) by Gartner in its report of ‘Magic Quadrant for ERP Service Providers, 2007’.3. Business Intelligence (BI): -Business intelligence is high-end service, as it requires a diverse set of technology skills, bestpractices and frameworks, as well as knowledge of multiple functional areas to implement andoptimize an enterprise’s BI processes and applications. Being a high-end job, there are limitednumbers of players in this space. TCS is only Indian player, which is classified in leaders’quadrant (beside IBM and Accenture) by Gartner. The offshore market for this service isexpected to be $20 bn by 2010 (Source: Gartner), offering TCS huge opportunity as it is wellplaced in ‘Business Intelligence’ space. The strength of TCS in this segment is also reflected inits strong performance. Business Intelligence segment for TCS grew by 62% in FY07, ascompared to 39% for India.4. Emerging services: -Within IT services, TCS has identified Assurance Services (like testing), InfrastructureOutsourcing (IS) and consulting as its future growth areas considering the current market needs.i) Testing services: -NEED FOR OUTSOURCING TESTING SERVICESTesting is an independent function that verifies software developed by third parties or clienthimself. 20
  • The TCS AdvantageTrue certainty of success comes from working with a partner you trust to provide the insight,support and expertise that will propel your business forward. Experience the TCS advantage.Customer-centric Engagement ModelWe build our teams around your domain and technology requirements, offering specializedservices and solutions that meet the distinct needs of your business.Our deep-set commitment to our customers defines how we do business, and our years ofexperience working across industries underpin the vast array of services we offer.Our understanding of your industry, combined with insights from our Centers of Excellence,allow us to more efficiently equip your business with proven solutions that incorporate industrybest practices. With engagement models that match the size and scale of your operations, wesupport your business goals and offer partnership opportunities based on gain-share and risk-share models, as appropriate. Whatever your business needs or aspirations, we have the in-depthknowledge, world-class processes and standards, and relationship-based approach to put the rightsolution in place.Global Network Delivery Model™ | GNDM™Our unique global engagement model allows you to choose the sourcing strategy best suited to yourbusiness needs. We take a follow-the-sun approach, meaning that no matter where your business islocated, we help you keep it running 24/7, while providing a seamless experience across alloperations.GNDM™ leverages our diverse technical, language and domain-specific capabilities to delivercustom, quality solutions faster and in compliance with local regulatory requirements andcultural preferences.Our GNDM™ consists of three integrated components:  A global team of professionals ensuring highly effective and scalable talent management.  Integrated quality processes appraised by the Software Engineering Institute enterprise- wide at maturity Level 5 of the CMMi®-DEV and CMMi®-SVC models. We are the first company in the world to hold such a comprehensive appraisal.  A multi-tiered technology infrastructure with an interconnected global development network providing better risk management and 24/7 coverage, a state-of-the-art telecoms network and global collaboration tools.Full Services PortfolioOur full services portfolio enables us to provide integrated solutions that help you recognizevalue quickly by reducing costs and improving business agility. 21
  • Our full services portfolio combines traditional IT and Remote Infrastructure services withknowledge-based services such as Consulting and Business Process Outsourcing. The efficiencyand seamlessness of our engagements makes TCS an excellent partner to companies looking foran integrated approach to managing all IT and operational programs.Our intellectual property—from software products, to technology and business components, toservice and process frameworks—is the culmination of our business knowledge, technologyexcellence and process innovation and helps transform businesses around the world.Industry specific software products in Banking and FinancialServices, Insurance, Retail,Healthcare, Telecom, Government and High Tech sectors provide ourcustomers with a competitive edge. Our library of Technology and Domain components enableus to build high quality solutions and bring them to market faster. Our service and processframeworks improve operational efficiencies and business agility.In other words, it involves identification and correction of flaws and bugs in software. Growth intesting business will be driven by the fact that it costs company 100 times more to find and fixbugs at maintenance stage of software development lifecycle than during the requirement anddesign stage (as can be seen in the chart given below).MARKET POTENTIALThe worldwide software testing market will reach $13 billion by 2010, out of which 45-50percent (approximately $6 billion) will be outsourced (Source: Gartner). India has the potentialto corner 70% share of the outsourced testing market, as per the industry estimates. In FY06,India’s export revenue from testing was about $280 Mn (Source: NASSCOM).EMERGING AREA FOR TCSIn testing segment, TCS’s share is around 16% of total export from India (in FY06). In FY07,TCS has registered growth of 122% in testing business, which is more than 3 times the growth inIT service segment as a whole.ii) Infrastructure outsourcing (IS): -NEED FOR INFRASTRUCTURE OUTSOURCINGIn today’s business environment, IT infrastructure is becoming increasingly complex and needsconstant attention. Outsourcing this domain can enable enterprises to focus on their corebusiness. Besides, in-house competencies are difficult to build and retain, which increases theneed to outsource IT infrastructure.iii) Consulting: -IT consulting involves formulation and execution of IT strategy on behalf of corporate. Since itinvolves participation with the clients from the stage of formulation of IT strategy and interactionwith the top-level management of client organization, it provides IT consulting company achance to obtain contracts for other IT related work such as implementation and maintenance.Hence, most players are increasingly trying to expand their presence in IT consulting. 22
  • Traditionally Indian players did not have a large presence in IT consulting. For instance, share inIT services export of consulting was just 1%, however over a period of time tier I companieshave built their expertise and increased their presence in IT consulting.TCS, at present employs around 800 consultants. Besides these 800 consultants, consulting workis also done by same number of people from outside the consulting department. TCS plans toincrease the number of consultants to 2,500 in next three years. Also, it expects revenue fromconsulting services to more than triple to $650 million by FY10, from $146 million in FY07. Tostrengthen its presence in IT consulting TCS has also made acquisition or entered into alliances.Business Process Outsourcing (BPO)I. Market potential: - BPO industry is one of the fastest growing segments of Indian ITindustry. It grew at a CAGR of 37%, as compared to 31% for industry as a whole over a periodof FY03 to FY07.Going forward; also it is expected to maintain the high growth rate, led byplatform-based BPO offerings (Refer Terminology in Annexure). As per NASSCOM, platform-based BPO will gain tractions as firms combine expertise in process management andimplementation technologies (such as business intelligence, data warehousing) to deliver asolution oriented towards business delivery.TCS has developed its own BPO platforms and has started delivering services to clients fromthese platforms (for e.g. Pearl Group is served from platform developed for insurancecompanies). Further it is planning to launch two more new platforms in next couple of months.One platform is in area of Human Resource Outsourcing (HRO) and another in area of Financeand Accounting (F&A).Engineering ServicesI. Engineering Services Outsourcing (ESO) includes product design, research and developmentand other technical services across sectors like automotive, aerospace, hi-tech/telecom, utilitiesand construction/industrial machinery.As per the NASSCOM and Booz Allen’s study, global spending on engineering services in 2004was $750 billion, which is projected to increase to $1.1 trillion by 2020. Out of which today onlyminiscule portion i.e. $10-15 billion of engineering services is off shored, which is expected togrow to $150 -225 billion by 2020.The market share of India in offshore engineering is currently 12%, which is projected toincrease to 25% by 2020 i.e. potential engineering market in India could exceed $38 bn by 2020(Source: NASSCOM and Booz Allen). The primary reason for increase in share of India inoffshore engineering is its cost attractiveness and talent pool size in relation to that of other 23
  • countries. For instance, if the cost of automotive design in Europe cost $800 per hour, which iseven higher in the US, costs in India (when put on an hourly basis) are as low as $60 per hour forequivalent quality (Source: NASSCOM and Booz Allen).II. To expand and take the opportunity in ESO space, TCS set up a separate business unit forESO in FY05. However TCS has entered this space in 1987 by starting a J.V. with WestinghouseElectric Corporation and International Finance Corporation.III. TCS offers ESO services to clients in the verticals (industries) like -automotive, hi-tech &telecom, aerospace, industrial, oil & gas, and utilities. However, among all the verticals focusarea for TCS is aviation industry. In India, TCS is the first company to be AS 9100: Rev Bcertified for design of airframe structures. Further, TCS has been accredited with certificationfrom Indian Airworthiness Authorities. The scope of the certificate covers design anddevelopment of airframe structures, provision for engineering services/analysis along withdesign, development/ maintenance of support software.As per industry, Indian companies are expected to get offset from global military equipmentmakers of nearly Rs.1,200 billion up to 2011 and the biggest orders will come from localsourcing in a purchase of 126 fighter aircraft, which is estimated to cost Rs.420 billion.Considering its first mover advantage and its past track record (execution of projects for clientssuch as Airbus, Bombardier, Honeywell, Martin Baker, HAL, ISRO, IAF and DRDO), TCS iswell placed to participate in such defense-offset deals.Global Delivery Model (GDM)‘GDM’ means the delivery of IT services using multiple locations in such a manner that cost-effectiveness and quality are optimized. GDM tries to achieve a perfect balance of quality, costsavings and localization by executing components of an IT project in various parts of the world.The essential functions of GDM include:  Onsite - these are operations performed at the site of the client  Offshore - these include operations performed away from the client’s site, generally from low-cost countries  Multi-location delivery centers - it is important to have a multi-location offshore presence in order to mitigate risks associated with a single location delivery center and to ensure continuity of the business process.  Front end - these include marketing and sales functions carried out in the client’s country in order to obtain repeat business orders and to seek new clients. For a GDM to be successful it is important to establish the right structure and thus have the right mix of onsite, front-end and offshore components. Delivery centers and their role in TCS’s GDM are depicted below: - 24
  • To take twin advantage of relatively higher growth in developing countries and benefits of globaldelivery model, TCS is expanding its employee base in delivery centers in other emergingoffshore destinations such as China and Latin American countries. About 9.3% of TCS’sworkforce is non-Indian. This is expected to go up to 15 per cent over the next three years. 25
  • Focus on Indian marketIndian IT market is one of the fastest growing markets in the world in terms of IT spend. Goingforward, also it is estimated to outpace the growth in worldwide IT spends by around 3 times.TCS’s revenue from India is 9% of its total revenue (9M FY08). With the increase in total size ofIndian IT market, which is growing at a faster rate than that of Global market, TCS is targeting todouble its revenue from India within next 18 months. TCS expects growth to come fromgovernment and BFSI verticals where it enjoys leadership position. In government vertical itcommands 32% market share and in BFSI, it is serving India’s largest bank i.e. SBI and itsassociates.Talent pool managementIT service industry being human resource intensive; ability of company to attract, retain andimpart training in new technologies to employees, are key factors as it provides the certainty inrespect of delivering the agreed level of services (in terms of quality) to clients.TCS is considered to have one of the best human resources policies in Indian IT industryenabling it to win for four consecutive years i.e. from 2004 to 2007 the Dataquest award for the‘Best Employer in the Indian IT industry’. This is also reflected from the lowest attrition rate ofemployees of TCS among tier I Indian IT companies. 26
  • TCS has set up training facility in India as well as outside India (U.S., China, Hungary andUruguay), having the capacity to train 20,000 plus employees per annum. This enables it torecruit the talent from higher number of institutions to meet its need of talent pool, whileensuring the required skill level of employees by providing initial learning and inductionprogram. The quality of its training program can be gauged from the fact that TCS has tied upwith Vietnamese government for training the students in Vietnam and it’s in talk with Singaporegovernment for the same purpose. Along with the increase in number of institute TCS visits, thenumber of institutes in which it has able to fill its slot on day one itself has increased -corroborating its status as preferred employer on campuses.InnovationTCS has setup around 20 labs globally that are dedicated to R&D in diverse areas. These includesoftware engineering, bio-informatics, business systems, embedded systems, convergencetechnologies, mobile computing, security and technologies like grid computing and flexiblesoftware. Till date, TCS has 100 patents registered in its name. In its Feb 2008-Analyst meet,management unveiled a new automation tool which automates code generation to the extent of ¾in case of simple projects and in case of complex projects (such as MCA-21 for Government ofIndia) to the extent of 1/5. For this tool, TCS has been granted provisional patent. Besides TCS,no other company globally has such tool, however companies such as Coghead, Jotspot is working on beta version of the same. TCS has worked on this project foraround 3 years and expects that this will provide it competitive advantage in bidding projectsgoing forward.Foreign exchange risk hedging policyIndian Rupee (INR) has gained against US Dollar (USD) by 11.5% in 9M FY08 against 9MFY07 (on daily average basis). The same has impacted the revenue of IT companies, whichdepends on the U.S. geography for more than 50% of its revenue. In order to hedge the risk ofvolatility in foreign exchange and resultant impact on earnings, IT companies use derivativeinstrument such as forwards and futures. TCS covers its net exposure in foreign exchange i.e.difference between foreign exchange earnings and expenses for 12 months and also part of thenet exposure for next couple of years. At end of Q3 FY08, TCS had $3.1 billion outstanding inhedges.Among the tier I IT companies TCS has been benefited the most in 9M FY08 from its hedgingpolicy for foreign exchange earnings. Hedging has resulted in an income of Rs. 2378 Mn in 9MFY08 that is 1.4% of the revenue in the same period. 27
  • TCS’s Revenue-Industry wiseDue to credit market losses in U.S., there is growing apprehension that financial companies willcut IT spending in CY08. TCS also has reported that its two wall-street based clients haveindicated reduction in IT budget for 2008. Considering these two BFSI clients, as per TCS’smanagement 1/3rd of total revenue from BFSI segment is subject to discretion of client and restis non-discretionary type of revenue.As over 91% of TCS’s revenue comes from export, it is exposed to currency fluctuations, whichdirectly impacts its profit margin to the extent of 35 bps for each percentage appreciation of therupee. In current fiscal year, in spite of unprecedented appreciation of INR against major globalcurrency management has been able to moderate the negative impact of INR appreciationthrough hedging. However, if INR continues to appreciate significantly going forward,It will have negative impact on company’s performance.VALUATION AND RECOMMENDATIONWe expect, TCS’s revenue to grow at a CAGR of 24% over the period of FY07 - FY10E,considering the strong deal pipeline and high growth in emerging markets. Whereas, net profit isexpected to grow at a CAGR of 15.2% over the same period, considering the impact ofcompletion of STPI scheme in FY09. At Current Market Price of Rs. 880 the stock trades at PERof 14.8x and 13.4x its FY09E and FY10E EPS of Rs.59.3 and Rs.65.8, respectively. Consideringthe trend towards gradual offshore shift in IT budget allocation and TCS’s positioning as aleading offshore player, we recommend BUY rating on the stock with a target price of Rs.1053based on 16x FY10E EPS of Rs 65.8. 28
  • Infosys Technologies Ltd.Infosys Technologies Limited, incorporated in the year 1981 provides consulting and IT services.Infosys has been a pioneer in offering innovative solutions to its clients. The company offers awide range of software services, namely application development and maintenance, corporateperformance management, independent validation services, infrastructure services, packagedapplication services and product engineering and systems integration.Infosys is a large software company, based in Bangalore, India, specializing in customizedsoftware and development solutions. The company provides business consulting, systemsintegration and application development to multinational companies using its proprietary“Global Delivery Model,” which divides large projects into components that are then completedin different parts of the world, including India and the US. Infosys clients include U.S.corporations Northwestern Mutual Life Insurance, VISA, and retailers Nordstrom and JCPenney,and Japanese companies like Toshiba.Infosys has used its corporate governance practices and in particular increased transparency, as adistinguishing competitive feature for several years before its Nasdaq Listing. Given that amajority of its business is based in the US, Infosys believes that leadership in corporategovernance will inspire confidence among its current and potential customers and employeesboth in its home market of India and in Western markets, where it may be less well-known.The company’s governance policies are more robust than those promoted by India’s domesticcorporate governance codes, even the most recent guidance on audit committees, a SEBIcommittee led by Infosys’ own chairman.For a cash-generative company with no debt on its balance sheet, there would seem to be littleneed for a US listing, but the company clearly saw this as an important step to build brand equityamong its US client base, create a currency for acquisitions, and allow the grant of employeestock options in a US-registered security in order to compete for US-based talent. Since itslisting, Infosys has decided to comply with all US securities laws, even those that do not apply toit as a company not incorporated in the US. Except for parts of Rule 16(a) of theSecurities Exchange Act 1934 (See Section 3.1), Infosys behaves as if it were fully regulated bythe SEC, though its corporate law remains, of course, Indian. It submits all SEC filingselectronically through the EDGAR system, including annual and quarterly reports and even S-8filings about employee stock option awards. It also files each of these reports within 60 days,even though filing deadlines have until last year been more generous.Infosys has scored strongly or very strongly in each of Standard & Poor’s four sections ofanalysis. Its Ownership Structure is transparent and well disclosed, and there is a strict separationof ownership from control among the founder/managers of the company. FinancialStakeholder Relations are also assessed strongly: though shareholders cannot legally vote for allitems by post (see Section 2.1, below) or the internet, ownership rights are strongly defended,there is a simple share structure, and there are no explicit anti-takeover defenses in thecompany’s Articles. Financial Transparency and Information Disclosure is assessed as very 29
  • strong: financial and non-financial disclosure is very strong and in some cases Infosys providesthoughtful disclosure on items that few other companies have pursued; timing and access todisclosure is very strong given the company’s compliance with the U.S. SEC’s Regulation FairDisclosure and its lobbying of the Indian regulators in this area. Board Structure and Process isassessed as strong given the work that has been put in to date to bring onto the board a largenumber of outside directors in a relatively short amount of time. The board is nearing completionof its transition from an insider-dominated group of directors affiliated with a founding group toa globally-representative, majority independent body. Although the board is generally effectiveand cohesive, a number of aspects continue to develop including the involvement of non-executives in strategy-setting and the balance between the roles of the executives and non-executive directors. Compensation for non-executives, while among the highest in India, risksencountering objections from domestic shareholders while at the same time risks not being highenough to continue to attract the best-qualified director.Infosys shares are widely held and its shareholding structure is transparent. In addition todisclosing shareholdings by category, the company’s annual report also discloses a distributionof shareholdings by size, class and categories of shareholders. Substantial shareholders aredisclosed down to the level of five percent. The largest single shareholder (Mr. Narayana Murthyand his family) holds 6.7% of Infosys’ shares. Shareholdings of directors are adequatelydisclosed.Infosys was the first Indian company to be listed on the NASDAQ Stock Exchange. Thecompany reported a consolidated net profit of US$ 152.1 million for the quarter ending March,2006. It has five subsidiaries globally – Progeon Limited, Infosys Technology (Australia) Pty.Ltd., Infosys Technology (Shanghai) Co. Ltd., Progeon S.R.O. (Czech Republic) and InfosysConsulting Inc. It has presence across the globe with 30 offices spread over USA, Europe,Australia and Asia. It currently employs people from 53 different nations. Though the USA hasbeen the main source of revenue for Infosys, the company is looking into expanding into Europeand Asia. Infosys (Australia) has won several new clients and Infosys (China) is focusing onserving the local clientele. Its high-end services occupy a premium position in the Japanesemarkets and the growth rates are consolidating across Europe. Infosys has a growth rate of over50% and more than half a billion dollars in revenues in EMEA (Europe, Middle East and Africa)region, Infosys is one of the fastest growing Consulting and IT Services organizations in EMEAregion. Company’s revenue from Europe increased from US$ 340.3 million in 2004-05 to US$495.6 in 2005-06, representing a growth rate of 45.6 per cent per annum. 30
  • Factors for SuccessDelivering locally relevant business valueInfosys has been able to customize its services and solutions to the requirement of its clients.Infosys has delivered enhanced customer value to its UK clients- evidenced by the 90 per centplus repeat business that the company generates. Understanding client-specific needs and thevalue proposition has been key to this. An example is the creation of specific services aroundregulatory compliance that are region specific.Building the brandInfosys has adopted an aggressive strategy for marketing and branding in the UK.The companycreated coherent campaigns that utilize multiple channels, including events, PR activities, analystrelations, investor relations web based online marketing and direct marketing. Using thesechannels, the company focuses on creating positive perceptions with the clients, industryassociations, media and policy and decision makers. These branding efforts paved the way inestablishing Infosys a well-recognized brand in the UK.Coherent Market StrategyInfosys has made strategic investments in the UK with a clear focus on future expansion plans.The range of investment encompass not only infrastructure, but also covers areas such as humanresource, technology and networking infrastructure. These investments have enabled Infosys toincrease its new client penetration rate and have helped in attracting the best of global talent. 31
  • Investing in ExpertiseInfosys has a long experience in the software industry. The company has business innovationin global delivery model which is coupled with its technology and industry expertise, in the fieldof financial services, manufacturing, telecommunications, and retail, transportation and logisticsindustries. This disruptive model has enabled the company to offer distinctly superior servicesthat met the client expectations and thereby facilitated the winning of new clients as well asretaining the existing clients in the UK.Future PlansInfosys has ambitious growth plans for the region. In order to achieve this, Infosys intends toincrease its new client penetration and at the same time expand on the scope of operations withits existing clients. Infosys intends to do this by focusing on the following areas:Global SourcingInfosys global sourcing strategy is aligned with its business strategy, thereby enhancing theoperational efficiency and delivering value added services to clients globally. The company hasstructured its business processes and IT services into various modules thus leading to leading toenhanced flexibility and productivity. Infosys plans to be the benchmark for global sourcingofferings in the UK market.Business valueInfosys is a technology enabled business transformation company offering value added solutionsto its clients. It plans to penetrate further in the UK market by providing advance technologyproducts and services that enable its clients to transform the way they operate.Enterprise SolutionsInfosys has plans to aggressively focus on the package enterprise applications such as SAP andOracle Suite. The company is also planning to increase its focus on the service orientedarchitecture (SOA) for solutions to its clients. These are expected to bolster the company’spresence in the growing enterprise solution market.Moving beyond Application DevelopmentInfosys offers a range of services beyond its traditional strengths in Application Developmentincluding BPO, infrastructure maintenance, software service, etc. The company already has astrong foothold in the infrastructure and F&A segments. It plans to expand its offerings in otherservice area as well. 32
  • Wipro Technologies Ltd.Wipro Technologies is a business unit of Wipro Limited and is engaged in providing on-site, off-site and offshore software development services. With over 9000+ software professionals spreadacross 21 Development Centers across the globe, the company’s software services business hasgrown on the foundation of continued focus on customer satisfaction and quality.The Bangalore-based company has just moved its corporate office into an impressive all-Wiprocampus in sub-urban Bangalore. Further, it has Development Centers in Hyderabad, Chennai,Gurgaon, Pune & Mumbai in India. Moreover, it also has presence internationally in Japan; keyEuropean markets such as Finland, France, Germany, UK – as well as offices in Canada and theUS. In terms of numbers and statistics, Wipro Technologies’ financial highlights for the year2001 – 02 speak for themselves  Profit After Tax was at a record Rs. 8.9 billion representing an increase of 32% over previous year  Revenue increased 28% for the year ended March 31, 2002, at Rs. 23 billion.  Wipro Technologies retained its margin with PBIT growth of 28% in line with revenue growthTruly, Wipro is well on its way to realize its vision of breaking into the Top 10 IT ServiceProviders list in the world. The company’s drive is best exemplified by its mission statement - 33
  • “With utmost respect to Human Values, we promise to serve our Customer with Integrity,through a variety of Innovative, Value for money Products & Services, by Applying Thought,day after day.” In 2000 – 01, India’s software exports accounted for 13.1% of India’s totalexports –amounting to a massive US $ 6.24 billion. With the slowdown in the global economy,India has clearly been identified as the preferred destination for companies looking to outsourcetheir key business processes.Further, the Indian domestic market has been identified as a growth area – as a result ofincreased investments in IT by banks & financial institutions, government departments, thetelecom and the retail sector etc. Indian software services companies will need to leverage theglobal slowdown to enter new areas of business as well as drive efficiencies into existingbusiness processes that will enable them to sustain the growth rates of the past.Despite the global slowdown, the Indian Software Exports has continued to grow – albeit at aslower pace – at 25%. As per NASSCOM estimates, the performance of the Indian software andservice exports sector for the third quarter (Q3: October–December, 2001) of the financial year 2001-02 revealed that software and services exports fromIndia generated revenues of Rs. 9,100 crores in Q3 of 2001-02. This was up from Rs. 7,270crores for the corresponding period in the previous year. As per the National Association ofSoftware and Services Company (NASSCOM) forecasts, the industry would witness 30%growth to reach Rs. 37,000 crores in FY ’01-02.Wipro Technologies, the IT infrastructure.Wipro Technologies’ core business is IT solutions & services for enterprise and technologymarkets. Wipro’s business model relies on the “offshore” model of software development – andthe Intranet was designed to inter-connect all of the Offshore Development Centres (ODC’s).Defining the problemGiven the growth of Wipro’s business in the past few years, Wipro’s network architects have aserious challenge ahead of them – to keep the network “growth-proof”. Not only was thenetwork expected to be able to factor in headroom for future business growth but also have a lowlevel of obsolescence. Therefore, despite having invested heavily into setting up a scalable,redundant network, there was never ending, always growing demand for bandwidth seems tohave constrained the network. “Two key trends were driving the need to change. One, with work styles changing and more &more employees looking for flexibility of work hours and working-from-home options, thenetwork had to gear up to maintaining the balance between the need for network security andanytime-anywhere access. Secondly, the network had to be compatible with keeping pace withfast, very fast, technology changes - Network performance was getting restricted as increasinglycomplex technologies and applications are hosted on to the Intranet.”Wipro, therefore, had its task cut out. Given the high level of investments already made intosetting up the infrastructure, the way ahead was to leverage on the existing IP infrastructure toconverge data, voice & video traffic, optimize the resources and bring in significant cost saving –such as to deliver: 34
  •  Convergence to the desktop for video streaming, e-learning and unified messaging.  99.999% availability & 24/7 Global Network Support.  Anytime and everywhere secure easy accessVery clearly, the need at Wipro Technologies was for a network that is 100% available, fullysecure and future proof network – efficiently supported 24/7. Moreover, since this was businesscritical, the time-to-deploy had to be minimal.Seeking the solutionSetting up a comprehensive New World, IP based network seemed to be the only solution forWipro. The technological need of Wipro was to adopt technology inline with growing businessneeds – by leveraging the existing IP infrastructure to drive converged data, voice & videotraffic. The network architecture of WT, accordingly, needed to be purely based on newgeneration IP-specific technologies - to make Wipro a reality.The Campus LAN infrastructure is a Hierarchical Architecture using Catalyst 8540, Catalyst6500 Switches for the Core / Distribution layers. The Access Switches used are Catalyst 4006and desktop switches like Catalyst 29xx, Catalyst 35xx, Catalyst 19xx. The Backboneinfrastructure is based on the Gigabit Ethernet Technology; features like Gigabit trunking and L3VLANs are implemented on the LAN infrastructure. The desktop connectivity is on 10/100Mbps.The WAN Network is used for connecting the various Wipro Technologies offices across theworld and also for the connectivity to their customer locations. For the WAN Network Bangaloreis the Hub location using Cisco 7206 routers. Each remote location has redundant E1 links to theCentral location. The routers used in the remote locations are Cisco 3600, and Cisco 2600. ISDNbackup connectivity is used for the remote locations to access the Central locations in case of theleased line failure. The Routed Protocol is IP & routing Protocol used is OSPF. Wipro Tech has80+ Mbps of domestic bandwidth, 15+ Mbps of International bandwidth. The total Internetbandwidth available is about 15Mbpswhich is distributed across the locations.This entire backend infrastructure was set up to support key front and backend applications,which were expected to deliver the benefits of a Converged Network Ecosystem - 1. Centralized Applications: SAP; CRM Application, Intranet 2. Distributed Application: Computer Based Training, Email, Internet Access 3. Voice and Video Applications: Voice over IP, Video Conferencing and IP Telephony using Cisco Call Manager.“The idea was to enable a New World network that would take Convergence to every Wiproite’sdesktop. The network needed to not only smoothen external communication but also make itpossible to use smarter eLearning platforms. While apps such as Unified Messaging would makework management better, technologies such as Video-on-Demand and Video Streaming wouldmake every employee empowered about her own training and development.” 35
  • This New World Network also consisted of Cisco IP based PBX technology using Cisco CallManager and Cisco IP Phones and also incorporates Cisco Unity, an IP based Unified MessagingApplication. Wipro Technologies has installed about 700 Cisco IP Phones till date. In order tooffer further productivity enhancement tools - via video conferencing solutions - Wipro hasimplemented IP based Video conferencing architecture using Cisco IP Multi Conferencing Unit(MCU) and Cisco Multiconference Manager (MCM). To integrate legacy ISDN videoconferencing systems, Wipro has provided the facility using Cisco IPVC3520 H.320 to H.323gateway – thereby deploying smarter e-learning platforms using Cisco’s IPTV solutions. “Their New World network will be the key to Wipro realizing its potential of being among theTop 10 IT Service Providers in the world. This would require us to be among the top 10companies in the world with best-of-breed IT infrastructure, and certainly Number One in India.”Every single Wipro employee is committed to this Dream. Every network manager works closelywith business managers in identifying the business goals and drivers – AND to help themcomprehend the business drivers for Wipro – such as assuring stringent quality standards andensuring customer satisfaction is on the top priority.To emphasize how important such commitment is to Wipro, “It is essential for the business andthe IT guys to work together – to make sure that we are able to set up the best fit for theconsumer. Infact, we have now formed this new IT team – apart from the Operations and Coreservices - to focus on driving WT’s new converged network architecture. We need to ensure thatthe company’s network will be ready to grow – as the company’s business grows.”The standard network for Wipro comprised of a converged data/voice/video communication linkconnecting every remote client location to the ODC LAN of one of the Development Centers inIndia. Every development center was connected to the primary & secondary WAN Hubs on2Mbps lines. The interoffice links were designed for high availability using alternate paths &auto routing network protocols. Policy-based networking & Quality of Services rules weredefined and configured to ensure highest priority for business critical applications. The ITinfrastructure at each WT office was Network ready for easy access with 10/ 100Mbpsbandwidth to the desktop and Gigabit backbone.At Wipro, the IT department is organized into two strategic focus areas - Operations and Coreservices.  The Operations team manages the day-to-day IT Operations, which covers Helpdesk management, Systems management, Network management & Network Security management.  The Core services team is involved in Standardization, Policy decisions, Quality System initiatives, Network Architecture/ Design, Capacity Planning, Network Security, Service Level Management and providing Technology solutions & directions to the IT Department.Wipro’s network architecture has three dimensions to it to cater to the business specificrequirements. The Company Intranet, Extranet and the Internet form the 3D network of WiproTechnologies. All employees - working from any of the 21 development centers in India andabroad - are part of the intranet. The Extranet connects the customer locations across the globe 36
  • and Internet is the common media for anytime – anywhere access to all onsite employeesworking from customer sites and also for mobile users.”Given this Wipro’s traditional network infrastructure was implemented thus:  LAN – Gigabit cabling infrastructure, Ethernet, 10/100Mbps to desktop, Gigabit with trunking on the backbone, Campus networking, L3 VLANs WAN – Redundant E1 links across locations, HDLC protocol, OSPF protocol, TCP/IP protocol. 80+Mbps of domestic bandwidth, 15+Mbps of international bandwidth and nearly 15Mbps of Internet bandwidth.  Operating Systems – Windows 95,98,NT and 2000, Solaris 2.x and HP UX 10.x.  Primary protocol and Application – SAP, HTTP, SMTP, LDAP, POP, IMAP, Netbios, CRM, Computer based training (CBT).  Desktop application – Office 2000, McAfee Antivirus, Outlook 2000, Netscape and Internet explorer browser.However, the network had some key limitations such as  Lack of reliable Network Performance/Quality of service  Inability to scale up to demand for more & more bandwidth  Lack of scope to maintain the balance between Network Security & Internet access  Deploying Complex technologies  Acquiring new skills and keeping pace with the fast technology changes.Going forward, the key challenges were very clearly – greater scalability and decrease in time todeploy, greater reliability and higher Time to Service (High Availability) and ensuring anytime-anywhere connectivity to intranet with adequate Network Security.What is Six Sigma?The word is a statistical term that measures how far a given process deviates from perfection. SixSigma is named after the process that has six standard deviations on each side of thespecification window. It is a disciplined, data-driven approach and methodology for eliminatingdefects. The central idea behind Six Sigma is that if you can measure how many “defects” youhave in a process, you can systematically figure out how to eliminate them and get as close to“zero defects” as possible.Six Sigma starts with the application of statistical methods for translating information fromcustomers into specifications for products or services being developed or produced. Six Sigma isthe business strategy and a philosophy of one working smarter not harder.One sigma gives a precision of 68.27%., two sigma, of 95.45% and three sigma of 99.73%,whereas Six Sigma gives a precision of 99.9997%.Although 99.73% sounds very good, it slowlydawned on companies that there is a tremendous difference between 99.73% and 99.9997%. Forex. For every million articles of mail, the difference is between 66,738 lost items and 3.4 lostitems (Exhibit 1). 37
  • To achieve Six Sigma Quality, a process must produce no more that 3.4 defects per millionopportunities. An opportunity is defined as a chance for nonconformance, or not meeting therequired specifications. This means one needs to be nearly flawless in executing key processes.The process and culture is conditioned for zero defects rather than being one that accepts that itis inevitable, and acceptable, that mistakes will occur. Hence Six Sigma delivers substantial costreductions, enhanced efficiencies, sustainable improvements and increased stakeholder value.Evolution of Six Sigma at WiproWipro is the first Indian company to adopt Six Sigma. Today, Wipro has one of the most matureSix Sigma programs in the industry ensuring that 91% of the projects are completed on schedule,mush above the industry average of 55%.As the pioneers of Six Sigma in India, Wipro has already put around ten years into processimprovement through Six Sigma. Along the way, it has scaled Six Sigma ladder, while helping toroll out over 1000 projects. The Six Sigma program spreads right across verticals and impactsmultiple areas such as project management, market development and resource utilization.Six Sigma at Wipro simply means a measure of quality that strives for near perfection. It is anumbrella initiative covering all business units and divisions so that it could transform itself in aworld class organization. At Wipro, it means: (i) Have products and services meet global benchmarks (ii) Ensure robust processes within the organization (iii) Consistently meet and exceed customer expectations (iv) Make Quality a culture within. 38
  • Difficulties encountered by IT giant:Build the Culture:Implementation of Six Sigma required support from the higher level managers. It meantrestructuring of the organization to provide the infrastructure, training and the confidence in theprocess. Wipro had to build this culture and that took time in implementation.Project selection:The first year of deployment was extremely difficult for Six Sigma success. They decided toselect the project on the basis of high probability of their success and targeted to complete themin a short period to assess the success. These projects were treated as pilot projects with a focusto learn. For the selection of the right project the field data was collected, process map wasdeveloped and the importance of the project was judged from the eyes of customers.Training: After the set up, the first step of implementation was to build a team of professionalsand train them for various stages of Six sigma. The training was spread in five phases: Defining,measuring, analyzing, improving and controlling the process and lastly increasing customersatisfaction. These phases consisted of statistics, bench marking and design of experiments. Tofind the right kind of people and train them was a difficult job. This motivated Wipro to starttheir own consultancy to train the people.Resources:It was difficult to identify resources that required for short-term basis and long-term basis as itvaried from project to project. Wipro did it on the basis of seriousness and importance of theproject.Project Reviews:As timely reviews play a very crucial role to judge the success of a project. Wipro had to developa team of experts for this purpose. The task assigned was to see the timeliness, find out gap,week areas and to check the outcome as per the plan.Implementation of Six Sigma at WiproWipro has adopted the project approach for Six Sigma, where projects are identified on the basisof the problem areas under each of the critical Business Processes that adversely impacts thebusiness significantly.Wipro has evolved following Six Sigma methodologies (Exhibit 2): 39
  • 40
  • (I) For developing new processes: (i) DSSS+ Methodology –Wipro employs DSSS methodology for software development. The methodology uses rigorous in-process metrics and cause analysis throughout the software development lifecycle for defect free deliveries and lower customer cost of application development. (ii) DSSP Methodology – used for designing new processes and products (iii) DCAM Methodology – used for designing for customer satisfaction and manufacturability(II) For Improving Existing Processes (i) TQSS Methodology –used for defect reduction in Transactional processes (ii) DMAIC Methodology -used for process improvement in Non-transactional process(III) For Reengineering CFPM Methodology - used for cross functional Process mapping.The list of players at Wipro is as below:  Executive Management  Six Sigma Champions and Deployment Leaders  Financial Executives  Black Belts  Green Belts  Yellow BeltsSix Sigma projects at Wipro are (Exhibit 3): (i) Driven by business heads, also called Champions for the projects. 41
  • (ii) Led by Green Belts (GB)Assisted by Black Belts (BB)The Management of the project at Wipro follows the following tools for implementation of SixSigma:  Ideation  Definition  Selection  Tracking  ReportingCurrently 15000+ employees are trained in Six Sigma methodologies. Wipro has also built up aSix Sigma skill base of over 180 certified black belts while helping to roll out over a 1000projects (Exhibit 4).Six Sigma Consultancy at Wipro:Wipro’s Six Sigma consulting experience has peaked with the indigenous development of newmethodologies that it takes to its customers. As Wipro continues Six Sigma consulting journey, itbuilds on its expertise and experience- to provide enterprise-class coverage of topics in businessprocess management and information technology systems integration. The focus is on supportingthe project needs and is also integrated with other methods to support process needs. Currentlythere are over 200 PMI certified consultants at Wipro.The Wipro quality consulting group trains in achieving the precision of Six Sigma with Wipro’sown methodologies, training capabilities and global experience. Wipro also helps ininstitutionalizing Six Sigma across the organization for transformation.Wipro provides consulting in institutionalizing an organization wide Six Sigma program thatspecializes in implementation across IT development, production support and core businessoperations 42
  • Wipro offers the following Six Sigma consulting services (Exhibit 5):  Six Sigma institutionalization  Problem solving using six Sigma  Six Sigma trainingReaping the Benefits:The financial gain that Wipro has achieved by using Six Sigma has been one of the high points.(Exhibit 6) 43
  • As the Six Sigma initiative started maturing Wipro identified two major phenomenon:  The biggest projects had all been completed  The Yellow-belt culture had cured little problems before they became big ones.At this point, the project-oriented Six Sigma culture began to give way to the sustaining culture.The Six Sigma process resulted in an achievement of close to 250%, 6 minutes for 1 MB transferand 18 minutes for average data transfer. The set target was 200%. Because quality is customerdriven, the objective of Six Sigma Implementation at Wipro has continuously been on integratingand implementing approaches through a simultaneous focus on defect reduction, timeliness, andproductivity. This has translated to lower maintenance costs, schedule-overrun costs, anddevelopment costs for customers. Measurements and progress indicators have been orientedtowards what the customer finds important and what the customer pays for. Towards this, SixSigma concepts have played an important role in:  Improving performance through a precise quantitative understanding of the customer’s requirements thereby bringing in customer focus  Improving the effectiveness in upstream processes of the software development life cycle by defect reduction (software defects reduced by 50%) and cycle time reduction (rework in software down from 12% to 5%).  Waste elimination and increased productivity up to 35%.  Cost of failure avoidance (installation failures down from 4.5% to 1% in hardware business).  Tangible cost savings due to lower application development cost for customer.Analysts remarked that Six Sigma was an indisputable success at Wipro whether in terms ofcustomer satisfaction, improvement in internal performance, or in the improvement ofshareowner value.The results of achieving Six Sigma are rapid and overwhelming at Wipro Its uniquemethodology provides Six Sigma knowledge and skills to the client, enabling the client to createownership, generate results and sustain success. The maturity of Wipro’s quality processes takesthe benefits to another level, ensuring that the customers benefit from:  30-40% lower total cost of ownership  20-30% higher productivity  On-time deliveries (93% projects completed on time)  Lower field defect rates (67% lower than industry average). The performance enhancement enabled the client to have an improved product with the overriding benefit that the end customer perception of the quality of the client’s product is improved.Future Focus and Challenges:Six Sigma certainly produces breakthrough improvement. But to achieve this Wipro will have tocombine the power of the Six Sigma method and tools with stretch goals, goals that almost seemtoo aggressive, too optimistic.. Also Wipro will have to benchmark itself against the competitionon the level of performance achieved by rivals.. This focus will lead to the adaptation of newer 44
  • dimensions of the quality management framework towards embodying a totality of process,people, product, and technology for achieving high process capability.Six Sigma projects require continuous change. Black Belts and Green belts developimprovements to systems and processes for which they are not accountable. And when theseparticipants are done with their project, they ask the real system or process owner to implementand sustain their solution and hence the challenge before Wipro lies in bringing the commitmenttowards continuing its process optimization theory.The Challenge will be to transform Six Sigma from a tool for improving product quality to anoverall business improvement methodology. The company’s aim will be at having 100% of itsmanagement trained in Six Sigma.To summarize, the quality system will continue to be based on incremental optimization, withrigorous implementation and sustenance of the same. The goal will be to make quality as theNo.1 objective for all employees.Benefits to Wipro TechnologiesWipro set out to build not only a single converged network to carry voice, video and data traffic– but also one that would be scalable, secure and reliable network. The benefits of managingONE network instead of two or three – has already started delivering sizeable cost and resourcebenefits. The benefit of the Cisco implementation has been to extend this benefit by building anIP based, scalable and future-proof network.Such a network makes it possible to implement next-gen services such as Unified Messaging andIP-based contact centers within a relatively short time span. Moreover, the efficient utilization ofbandwidth allows for easier network management – since the solution is end-to-end anddramatically reduces internal support requirements. An IP-based network allows for enhancedinternal communications – through delivery of eLearning modules to employee desktops, betterinformation sharing between offices, effective training modules.To sum up Wipro initiative, here is as more and more IP-based services are delivered toemployee desktops, something remarkable happens. The firm starts to realize potential andopportunity where none existed before – the converged network architecture has actually openedup new market opportunities for us - by delivering crucial competitive advantage to us in anextremely global market.” 45
  • INNOVATIONWe help you achieve and maintain a competitive advantage through our TCS Innovation Labsand Co-innovation Network. We offer research-based solutions in advanced technologies thathelp support your business objectives.Their global network of 19 Innovation Labs provides an environment for sophisticated ITresearch in leading-edge technologies, as well as in various domains. In collaboration withtechnology partners and universities such as The Massachusetts Institute of Technology andStanford, we’re researching key emerging trends, including mobility, cloud computing, businessanalytics and social networking to develop new, practical, powerful applications and to deliverstrong business results.Samples of our R&D offerings that address your IT expectations or support your businessobjectives and social concerns include:  To promote business agility: SaaS platforms, Agile enterprise architecture, Decision Support Systems  To enable simplification and transformation: Virtualization, Cloud Computing, Managed Evolution of Infrastructure  To manage enterprise risk and compliance: Smart Cards, Copyright protection offerings  To facilitate the enrichment of the user experience: Surface Computing, Unified Communications and Multimedia Gateway solutions  To optimize enterprise knowledge and collaboration: Content Management Systems Offerings and Enterprise Social Networking  To foster anytime/anywhere/on any device information access: Knowledge Portals and Mobile Based Advisory systems  To enhance society: Life Sciences and Green IT solutions and consulting 46
  • CURRENT TRENDS & CHALLENGES OF THE SECTORDuring the past two decades, many enterprises have transformed from “Businesses facilitated byIT” to the paradigm where “Business is IT”. Today, enterprises not only relay on IT systems toobtain and deliver insightful, timely, and accurate information for managing their operations, butalso to provide competitive differentiation, to support business agility and growth, and toimprove profitability.Unfortunately, the growing complexity of the IT systems operated by the enterprises is becominga key obstacle in sustaining this vision. I believe that continuous evolution is a key contributor tothis complexity. Unlike traditional engineering artifacts that don’t change much over time, ITsystems evolve continuously to accommodate new software and hardware technologies,application functionality, user requirements, as well as changes in operating conditions(workload, faults, etc.).As the Indian economy grows, one of the key challenges will be how companies manage totransition from the current service oriented model towards the product or developmental model.Basically, they dont just manage testing, maintenance and low-level development, but take thelead in innovation and the design of next generation services and products. Thus, a grandchallenge for computing is to conquer this complexity by developing methodology and toolsto design simple yet efficient systems and to manage system evolution.THE KEY CHALLENGES: 1) Contactless Card Payments: Contactless payments are an extension of the banks card business. They provide the opportunity to capture additional wallet share and new interchange revenue from unexplored markets. Amongst the emerging card innovations, Contactless payments hold the greatest promise. Recently, the usage of Contactless Cards has been increasing for merchants that are offering the technology. The factor behind the implementation of Contactless Cards with the small merchants is the processing cost of credit cards, which is about 3 times higher than handling cash. Consequently, the answer to such a problem is Contactless Cards. With Contactless cards, transactions can be made without swiping the card. Various technologies like Bluetooth, INFRARED and Radio frequency Identification (RFID) are supporting the new product.All the network associations have come out with Contactless products, which are available incard, fob, cell phone, etc. Contactless Cards are likely to take a big share of Cashless paymentsin the next five years.Benefits & Costs: The benefits provided by Contactless Cards are:  Fast, Convenient and secure transactions.  Greater control of payment device for consumers.  Reduced loss for merchants and issuers. 47
  • The costs associated with the implementation of Contactless Cards are:  Increase in merchant processing cost.  New POS terminals are required.  Cards are more expensive to issue.  Additional training for employees is required. 48
  • 2) Off-road diesel vehicle emission regulations: The objective of this is to give an insight about the trends and challenges of off-road vehicle emission control technology. Every technology we see today is the product of enormous research done by engine suppliers and their partners. Though all technologies promise the compliance to emission rules and regulations, the vehicle manufacturer needs to choose right technology considering overall implications on the vehicle, its usage over life time and the cost associated with it.I suggest you some of the key parameters to be considered while arriving at right emissioncontrol strategy. That also describes a part of the work being done at Tata Consultancy Services(TCS) in emission control area. 3) Realize your sky high aspirations with enhanced controls: The aerospace industry is one of the fastest growing industries in terms of volume, but at the same time there are various challenges that stifle consistent growth in this segment. Rising maintenance costs, constant investment in aerospace engineering and aviation, rise of new service-oriented processes to enhance customer satisfaction, and aerospace maintenance are just a few of the challenges you may face as a part of this industry. Along with this, aerospace technologies keep upgrading and innovating bringing in separate challenges of implementing the same in this sector.Wipro has developed, implemented, integrated and maintained solutions for the aerospaceindustry that help your business cope with sudden changes in a volatile economic environment.These services are extended to critical aerospace functions. The solutions and services that weoffer are a result of our strong R&D capabilities backed by experienced industry professionalswho have worked on cutting edge technologies in the aviation sector and have been at theforefront of product innovation. 49
  • LearningIn today’s grow-or-die marketplace, having the right talent strategy is crucial for anorganization’s success. So, every organization must process systematically and creatively whichclose the gap between the talent the organization have and the talent it need to drive futurebusiness strategies.The organization must excel in:  Competency models that are linked directly to your business.  Screening and assessment, enabling you to hire the right people with a full range of validated tests and assessments.  Behavior-based interviewing, helping hiring managers and recruiters make accurate hiring decisions.  Performance management to foster individual accountability and superior execution of your strategic priorities.  Succession management expertise and assessment systems to help you make critical placement and promotion decisions.  Accelerated development to give you people who are more productive faster by offering the widest range of topics for workforce to senior leadership levels.The work we do together is tied to your organization’s strategies and becomes part of yourbusiness and your culture. If your business is multinational, the kind of global resources neededto implement your talent initiatives effectively and consistently worldwide. 50
  • ConclusionAnalysis of all the fact and figures, the observation and experience, I felt while making thissector project is that, directly or indirectly Information Technology is playing an important rolein the life of each individual.A comparative study is made of the top -3 leading IT companies in India- Wipro, Infosys andTata consultancy services.TCS is an IT services, business solutions and outsourcing organization that delivers real resultsto global businesses, ensuring a level of certainty no other firm can match, Infosys providesbusiness consulting, technology, engineering and outsourcing services to help clients in over 30countries at the same time it is the leading provider of Enterprise Resource Planning (ERP)software while Wipro is the leading organization in providing complete Six Sigma software ,outsourced research and development, infrastructure outsourcing, business process outsourcing(BPO) and business consulting services.These IT companies are satisfying the need of the customers. There is a huge scope to penetratein the rural market and let the rural people connect with the modern world.It becomes quite clear that there is no other alternative or short cut to satisfy the need of thecustomers. If we have to meet the challenges of technology, social and economy we have to trainthe employees irrespective to their category at which they work in the organization and we needto upgrade our technology.As it is recognized fact that we cannot survive in tomorrow business‘s world with yesterdaystechnology and hence the continuous innovation of the technology is prime need of today’sorganization. 51
  • Bibliography:  Williams Bruce & Covey Stephen; “Six Sigma for Dummies”, “An Integrated Approach to Software Process Improvement at Wipro Technologies: Veloci”  Annual Report of Infosys FY2010-11.  Annual Report of Wipro FY2010-11.  Annual Report of TCS 52