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Wipro Limited, headquartered in Bengaluru, India, is a leading global provider of information technology, consulting, and business process services. With a workforce of 175,000 employees worldwide, Wipro has established itself as a key player in the IT services sector.
Founded in 1945, Wipro has grown substantially over the decades, particularly in the IT services domain. The company leverages its offshore outsourcing model, deriving over 57% of its revenue from North America. Wipro offers a comprehensive range of services including traditional IT services such as consulting, managed services, and cloud infrastructure services, in addition to business process outsourcing (BPO).
In recent years, Wipro has achieved several key milestones. For instance, the company has forged strategic partnerships with industry leaders to expand its service offerings and enhance its technological capabilities. Wipro's investment in emerging technologies like artificial intelligence, machine learning, and cybersecurity has positioned it at the forefront of innovation in the IT sector.
One of Wipro's significant strengths lies in its diverse portfolio. The company serves various industries, including banking, financial services, manufacturing, retail, and healthcare. This diversification has enabled Wipro to maintain a stable financial condition, evidenced by its consistent revenue growth and profitability.
Wipro is also known for its commitment to sustainability and corporate social responsibility. The company has implemented numerous initiatives aimed at reducing its environmental footprint and contributing to the well-being of the communities it operates in.
Currently, Wipro is involved in several high-impact projects. These include digital transformation initiatives for global enterprises, the development of next-generation IT solutions, and the enhancement of its cloud and infrastructure services. These projects are expected to drive further growth and solidify Wipro's position as a global IT services leader.
Wipro Limited (NYSE: WIT) released its annual State of Cybersecurity Report, highlighting the increasing role of Artificial Intelligence (AI) in cybersecurity. The report indicates that 49% of cybersecurity patents filed recently focus on AI and Machine Learning. Key findings include that 70% of organizations struggled with endpoint cyber hygiene during remote work, while 87% plan to implement zero trust architecture. The report emphasizes the need for stronger collaboration in combating cyber threats, with organizations investing substantially in cybersecurity.
Wipro Limited (NYSE: WIT) has secured a contract to provide managed SD-WAN transformation services to Olympus, leveraging Cisco technology. This partnership aims to enhance Olympus's application performance and reduce operational costs by up to 30%. Wipro's #WANFreedom solution will enable a centralized platform for contract management across 40+ countries, improving agility and productivity in a hybrid multi-cloud environment. The managed services approach will ensure continuous monitoring and maintenance, ultimately supporting Olympus's digital transformation journey.
Wipro Limited (NYSE: WIT) and SNP Schneider-Neureither & Partner SE have announced a strategic partnership aimed at accelerating enterprise transformation for their customers. Wipro will utilize SNP’s CrystalBridge® data transformation platform alongside the BLUEFIELD™ approach to facilitate seamless migration to SAP S/4HANA®. This collaboration includes the establishment of a 'Transformation Competence Center' for training Wipro consultants, strengthening their ability to deliver agile transformation projects. Both companies aim to enhance innovation and support clients in their digital transformation journeys.
Topcoder, a Wipro company, announced the winners of the 2020 Innovation Awards during a virtual ceremony. The awards celebrate exceptional contributions on the Topcoder Platform in six categories: Enterprise Resiliency, Power User, Cutting Edge, Public Sector, Program of the Year, and Wipro Partnership. Winners included Telstra for innovative technology solutions, Greg Tappert from T-Mobile for outstanding platform use, and the United States Bureau of Reclamation for advancements in water resource management. Topcoder continues to empower organizations to innovate amidst challenges.
Wipro Limited (NYSE: WIT) announced a multi-year contract with ThoughtSpot for software engineering services. This five-year agreement aims to enhance ThoughtSpot's Search and Analytics platform, accelerating feature development and market release cycles. Wipro will utilize its EngineeringNXT framework to deliver these services efficiently, helping ThoughtSpot maintain its competitive edge in the rapidly evolving analytics market. This partnership aligns with Wipro's strategy to strengthen its presence in the U.S. and enhance its capabilities in AI and Cloud technologies.
Wipro Limited (NYSE: WIT) has launched the Wipro AWS Business Group (WABG) to enhance customer cloud transformations on AWS. This unit combines over 10,000 AWS-certified consultants and specialized teams to accelerate business development and innovation. The initiative follows successful collaborations with AWS, particularly with Wabtec, illustrating Wipro's deep cloud expertise. Both companies aim to innovate solutions across industries, focusing on AI/ML, migration, and modernization, further solidifying their partnership in the cloud services sector.
Wipro Limited (NYSE: WIT) announced plans to expand its IBM Hybrid Cloud Practice aimed at modernizing digital operations for clients using IBM Cloud Paks on Red Hat OpenShift. This initiative will help enterprises innovate at scale with solutions like BoundaryLess Enterprise for managing hybrid cloud environments and ModernizR for migrating legacy applications to the cloud using artificial intelligence. Wipro's collaboration with IBM focuses on enhancing cloud capabilities across various industries, reinforcing their commitment to client transformation.
Wipro Limited (NYSE: WIT) has signed an agreement to acquire Encore Theme Technologies, a SaaS and cloud solutions provider specializing in Trade Finance. Based in Chennai, Encore Theme has implemented over 75 Trade Finance projects for financial institutions across the Middle East, Africa, India, and Asia Pacific. This acquisition aims to enhance Wipro's capabilities in modernizing trade platforms and improving customer offerings using Finastra's software solutions. The deal is expected to close by December 31, 2020, pending customary conditions.
Wipro Limited (NYSE: WIT) has announced a collaboration with SAP SE to develop cloud-based solutions specifically for the real estate industry. This partnership aims to enhance SAP's Intelligent Enterprise strategy by filling gaps in its portfolio through industry-specific cloud applications. Wipro's newly launched Tenant Acquisition Management (TAM) solution integrates advanced technologies like AI and robotic process automation, streamlining the leasing process. The solution is now available on the SAP App Center, showcasing Wipro's commitment to innovation in real estate services.
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