Amid the uncertain macro environment and slowdown in tech spending, Indian IT companies are leveraging their flagship solutions like Infosys Topaz, TCS BaNCS, TCS HOBS and Wipro FullStride Cloud to save costs and improve efficiency for clients, securing newer and larger deals.
TCS has BaNCS as one of its flagship solutions that saw the company secure major BFSI deals in recent months such as the one with National Employment Savings Trust (Nest), UK’s largest workplace pension scheme whose total contract value stood at $1.1 billion.
Similarly, Infosys, too, has bagged mega deals with the help of Topaz to save costs for clients. Some of the deals that involved Topaz were the billion dollar agreements with Liberty Global and the recent ones from Australia’s Spotlight Retail Group and urban mobility firm TK Elevator.
The recent collaboration between Infosys and energy company Shell New Energies UK, a tie-up that plans to accelerate adoption of immersion cooling services for data centers, talks about leveraging Infosys Topaz, a software solution that provides AI-first set of services and platforms using generative AI technologies.
Infosys Finacle, another flagship product from the IT major, was chosen by many financial institutions this year for their core banking transformation. Most recently, it was selected by Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC) group and one of the fast-growing universal banks in the Philippines, for its core banking transformation. It launched another cloud-enabled services platform Infosys Cobalt in 2021. Following its success, the IT major in September this year launched Infosys Cobalt Airline Cloud (ICAC), a first-of-its-kind industry cloud offering designed for commercial airlines to help them accelerate their digital transformation journey.
For HCLTech, FENIX 2.0, ASM 2.0, DWP and HCL Actian X are the flagship solutions and products that has helped the company to get new deals in 2023.
Pareekh Jain, founder, Pareekh Consulting, said, “These flagship solutions have more testimonies from clients. They have the credibility factor to back them. IT firms ride on these to bag large deals. The difference between small and large players is the maturity and depth of solutions these service firms provide and that is reflected in large deals that are being bagged by large IT companies.”