Basab Pradhan, former global head of sales at Indiaâ€™s second largest software exporter Infosys Ltd, has joined Sunnyvale, California-based cloud computing start-up CliQr Technologies as chief executive.
Pradhan takes over from CliQrâ€™s co-founder Gaurav Manglik, who will take on the role of chief strategy officer, the company said in a statement.
â€œBasab brings a proven track record as a leader of companies at various stages of maturity, with demonstrated success for aggressively growing businesses to be multi-billion dollar organizations,â€ Manglik was cited as saying.
Expect attrition rate to fall in next few quarters: says Infosys
India’s second-ranked information technology firm Infosys reported an increase in employee utilisation rate for the first quarter ended June 30, 2013, but attrition continued to be a worry.
The Bangalore-based company, which employs 1.57 lakh people, saw attrition of 16.9% for the just-concluded first quarter, compared with 16.3% during the previous quarter. Attrition was 14.9% in the comparable year-ago period.
Infosys management is not wary about these development and has a bankers news at their corporate news desk:
Infosys Finacle Wins Prestigious ‘Best Core Banking Technology’ Award
Finacle, the universal banking solution from Infosys, was awarded the ‘Best Core Banking Technology’ award for the second time in a row by a panel of 20 technology leaders from global banks. This recognition is part of the annual Innovation in Technology and Transaction Banking Awards 2013 organized by The Banker, a Financial Times publication. Finacle was chosen by the judging panel for its rich functionality and advanced service-oriented architecture.
The Banker’s Innovation in Technology and Transaction Banking Awards 2013 celebrates companies coming up with newer ways to assist financial institutions in serving their clients quickly and efficiently. They recognize innovative thinking in banking technology and the positive impact it can have on the entire ecosystem including their operations, employees and customers.
The Infosys nomination was an independent submission by DBS Bank, a leading financial services group in Asia, headquartered in Singapore. The bank nominated Infosys following the successful implementation of Finacle in Singapore and its key markets across the region. This was part of the bankâ€™s strategy to entrench its leadership with enhanced core banking product offerings, and strengthen its technology platform by providing a standard operating model across the region and consolidating multiple legacy platforms.
Ng Peng Khim, Managing Director, Institutional Banking Group, Technology, DBS:
“Our partnership with Infosys Finacle started out as part of a strategy to strengthen our core banking system and provide a standard operating model across our regional offices. Currently, DBS is one of the few Asian banks which have successfully implemented such core banking technology covering both commercial and corporate banking clients. We have seen improved performance in various aspects, including improved automation and controls in loan processing and more complete and accurate data processing for downstream reporting and analytics, leading to a better experience for our customers. This award is a recognition of the hard work and results of our partnership.”
Duygu Tavan, Technology Editor, The Banker:
“The market for core banking providers is understandably fierce. The Finacle platform helps set Infosys apart from the competition. Banks are faced with pending regulatory compliance requirements, the rising demand and need for channel integration and innovative product development for better customer experience â€“ and yet have to maintain their often limited budgets. Infosys has established itself as a trusted provider to help meet these clientsâ€™ demands.”
Haragopal M, Global Head, Finacle, Infosys:
“Being recognized as the Best Core Banking Technology for the second year running is a reflection of Finacle’s commitment to enhancing the innovation agenda for our clients. Banks today are challenged with severe complexity in their business and operations. Technology-led innovation is an important step to simplify, and help banks differentiate and succeed in this uncertain environment. We are honored to have been nominated by DBS, which is clear evidence of the strong partnership between our two organizations.”
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 155,000+ employees, is Building Tomorrow’s EnterpriseÂ® today.
Certain statements in this release concerning our future growth prospects are forward-looking statements, 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 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, and unauthorized use of our intellectual property and general economic conditions affecting our industry. 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, 2013 and on Form 6-K for the quarter ended June 30, 2013. 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.