/Uncertainty, risk of second wave challenges for IT sector, says Infosys CEO Salil Parekh

Uncertainty, risk of second wave challenges for IT sector, says Infosys CEO Salil Parekh

Bengaluru: Infosys Chief Executive Salil Parekh said the biggest challenge the IT industry faces right now is the uncertainty around the duration of the Covid19 pandemic, recovery in business sentiment, and the risk of a second wave of infections and lockdowns.

Parekh made the statement while answering shareholder questions during Infosys Annual General Meeting on Saturday.

Infosys Chairman Nandan Nilekani said the IT services company has pivoted its resources to the new needs of clients and strengthened its expertise in cloud, workplace transformation, and smart automation to be able to help them accelerate and scale their digital projects in the business environment impacted by Covid-19 pandemic.

Nilekani said the pandemic has impacted the world and every country, business, and individual, and it is not an easy time for any of the company and its clients are dealing with several challenges as well.

“From building more flexible supply chains to urgently enhancing e-commerce offerings and supporting new models of employee experience, so much needs to be done to accelerate recovery and resilience,” Nilekani said “Technology is essential to get it all working, the efficiencies of automation to make it viable, and experiential design to unlock more value from this work. We will help our clients with all of that.”

During fiscal 2020, revenue at the Bengaluru-based company grew 9.8% in constant currency terms to $ 12.8 billion. As the world went into lockdown starting March, Infosys enabled 93% of over 2,40,000 employees, across 46 countries, to work from home.

Parekh said Infosys changed directions direction to adjust to the crisis and is focusing on employee safety, client service delivery and new client needs, which are cloud, digital, cost efficiency, and automation. He added that many clients were looking at consolidating their IT vendors, which could help Infosys.

“We are operating with stability during the crisis,” Parekh said. “We are able to connect with our clients, continue with our clients, continue with service delivery, work on the transition to a contact-less way of working.”

He added that Infosys has adopted a massive re-skilling program and launched a move to agile delivery, and with its localisation approach to its workforce, the company has built a resilient business that navigates the changing visa regulations better. Last year, Infosys surpassed its Spring 2017 commitment to hire 10,000 American workers.

Earlier this week, the United States froze immigration and suspend work visas until the end of this year to protect American jobs.

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