Infosys and TK Elevator Announce Strategic Collaboration

Rhea-AI Summary

Infosys (NSE: INFY) has entered into a strategic seven-year collaboration with TK Elevator to revamp its digital workplace management, IT infrastructure, and network security. This partnership aims to enhance cybersecurity and reduce operational costs through AI-powered IT services and automation. Infosys will harmonize global service desk and workplace operations, leveraging its expertise in digital transformation. TK Elevator expects this collaboration to foster innovation, efficiency, and improved user experiences for employees globally.

Positive

• Strategic seven-year collaboration with TK Elevator to enhance digital services.
• Focus on IT infrastructure modernization and reduction in operational costs.
• Utilization of AI technologies for improved workplace experience.

Negative

• None.

To revamp Digital Workplace Management, Network Security, and IT Infrastructure, powered by Infosys Cobalt

BENGALURU, India, June 9, 2022 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a global strategic collaboration with TK Elevator, one of the world's leading elevator companies based out of Düsseldorf, Germany. The global seven-year collaboration is an extension of the successful modernization of TK Elevator's IT infrastructure in Europe and Africa.

As part of this engagement, Infosys will consolidate and harmonize the global service desk and workplace operations. Infosys will provide AI-powered IT helpdesk services, digital workplace management, as well as network services, powered by Infosys Cobalt-driven automation framework. This will humanize TK Elevator's workplace experience by building a resilient enterprise and digitally transforming their underlying IT infrastructure. Infosys will aim to boost cybersecurity and enhance digital experience for TK Elevator's end users, by leveraging its deep domain expertise, industry-grade IT infrastructure modernization capabilities, and a strong global presence. The collaboration, while improving availability of IT infrastructure, will reduce overall IT operational costs. 

"At TK Elevator, IT infrastructure is the core of our digital initiatives and we continuously strive to provide state-of-the-art user services. With Infosys as a strategic partner, we are confident to achieve our target of automation, innovation and efficiency across the IT landscape," said, Susan Poon, Global CIO at TK Elevator.

"Infosys will provide our business with high-performance IT services and enhanced user experience for our employees worldwide. Leveraging artificial intelligence and automation will not only make our IT more customer-centric, but will also help improve our customer experience at reduced cost," added John Hemming, Head of Infrastructure at TK Elevator.

Commenting on the collaboration, Jasmeet Singh, Executive Vice President & Global Head, Manufacturing, Infosys, said, "Enterprises globally are repeatedly choosing cloud-based modernization solutions to enable their digital journeys, rendering their businesses more resilient. We are excited to collaborate with TK Elevator to enable their digital transformation. As we work towards establishing an engagement based on mutual trust and creating a value ecosystem, Infosys' best-in-class solutions in LAN, digital workplace, cybersecurity and infra, powered by AI and hybrid cloud, will drive operational excellence for TK Elevator globally. We look forward to continuing this collaboration in the future."

About TK Elevator (formerly thyssenkrupp Elevator)

With customers in over 100 countries served by more than 50,000 employees, TK Elevator achieved sales of around €8 billion in the fiscal year 2020/2021. Over 1,000 locations around the world provide an extensive network that guarantees closeness to customers. Over the past decades, TK Elevator has established itself as one of the world's leading elevator companies and became independent since its separation from thyssenkrupp AG in August 2020. The company's most important business line is the service business represented by over 24,000 service technicians. The product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and moving walks, passenger boarding bridges, stair and platform lifts. Integrated cloud-based service solutions, such as the MAX platform, are gaining in importance. With these digital offerings, there are no limits to urban mobility anymore. TKE – move beyond.

About Infosys:

Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

 

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SOURCE Infosys

FAQ

What is the collaboration between Infosys and TK Elevator about?

Infosys has partnered with TK Elevator for a seven-year strategic collaboration to enhance digital workplace management and IT infrastructure using AI technologies.

When was the Infosys and TK Elevator collaboration announced?

The collaboration was announced on June 9, 2022.

What are the key objectives of the Infosys and TK Elevator partnership?

The partnership aims to enhance cybersecurity, reduce operational costs, and improve employee experiences through AI-powered IT services.

How will Infosys improve TK Elevator's IT operations?

Infosys will consolidate global service desk operations and provide AI-driven digital workplace management and network services.

What are the expected benefits of the collaboration for TK Elevator?

TK Elevator expects enhanced user experience, increased automation, and greater operational efficiency from the partnership with Infosys.