Infosys is an Indian multinational company that provides digital and consulting services. It was founded in 1981 in Pune by seven engineers with an initial capital of 250 U.S. dollars. In 1993, it became a publicly traded company in India and its shares were listed on the Nasdaq stock exchange in 1999. As of financial year 2022, Infosys had a market capitalization of approximately eight trillion Indian rupees.
Key business sectors
Infosys provides services in digital integration, software development and maintenance, engineering, cloud and digital infrastructure, independent validation and testing, and management consultation. Its clientele includes public institutions, and companies in financial services, manufacturing, retail and logistics, communications, energy, utilities, and other domains. The biggest contributing segment to the revenue of Infosys was from financial services. Finacle, an integrated digital banking solution by Infosys for retail and corporate banks, has been regarded as the industry leader by many experts. In 2019, Infosys won the 42.32 billion rupees contract to develop the income tax e-filling portal for the Government of India.
Global presence and future expansion
By the end of financial year 2022, Infosys, along with its subsidiaries, was spread across 66 countries. North America is the company’s most important market. It has been expanding its presence in other parts of the world as well, noticeably in Latin America and Europe. In the global market, Infosys faces competition from IBM’s technology and business services, Accenture, especially in the financial sector, and its compatriot, Tata Consultancy Services. Infosys has been developing new technologies in the field of artificial intelligence, machine learning, blockchain, and the internet of things. As the world accelerates the adoption of digital technologies in the face of the coronavirus pandemic, Infosys is on track for future growth.
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