HCLTECH ISOLATED CLOUD ENVIRONMENT
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
HCLTech, Arm collaborate to work on custom silicon chips for AI-led biz
The partnership will enable semiconductor manufacturers, system OEMs (original equipment manufacturers) and cloud services providers to enhance the computing efficiency of their data centre environments, HCLTech said in a statement.
It will take some time for client spending to revive: HCLTech's C Vijayakumar
In the absence of an immediate resumption in the expenditure cycle, HCLTech would harness deal conversions, a diversified R&D portfolio, and rising demand for generative AI to boost both its top and bottom-lines in the near term, Vijayakumar said in an interview.
Q3 results: HCLTech bucks trend, Wipro's woes continue
HCLTech, India's third-largest software exporter, outperformed expectations with a 6.2% rise in net profit and a 6.5% increase in revenues in Q3. Meanwhile, Wipro reported a steep 12% fall in profits and a 4.4% dip in revenue. HCLTech's success can be attributed to the $2.1-billion Verizon deal and an increase in headcount.
For IT, a $16 billion deal feast on the table
Tech slowdown to intensify local, global firms’ race for contracts up for renewal in H1 this year.
ET Explainer: Should Indian IT companies be concerned about Accenture’s Q2 guidance?
Discretionary spending is under pressure, decision-making is slow and small deals are fewer in number, as was the case in the recent quarters.
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HCLTech investigating ransomware attack on isolated cloud project
The ransomware incident occurred in an isolated cloud environment for one of HLCTech's projects but there has been no impact observed due to this incident on the overall HCLTech network.
Navigating top 10 cybersecurity risks in cloud-native environments
Adopting a proactive and holistic approach to cybersecurity in the cloud is crucial to navigating its associated risks. Organisations should enforce stringent access controls, conduct periodic assessments, and cultivate a pervasive culture of security awareness. Through these measures, they can develop cloud-native systems that are resilient, secure, and compliant. Such robust systems will not only be instrumental in protecting valuable IPs and assets but also help steer innovation within organisations.
Indian IT firms stare at bleak holiday quarter on grim outlook
Over the past two weeks, the likes of Microsoft, Alphabet, Amazon and even Meta, Apple and Tesla have indicated a weakening demand environment that could last at least two quarters. Even Microsoft gave a cautious outlook despite strong performance.
Stars of Indian IT companies dim amid challenging demand situation
A spate of geopolitical conflicts and macro-economic concerns have combined to dent the demand for tech services, putting Indian IT majors on the edge for FY24.
HCLTech bags contract from Siemens to drive cloud-led digital transformation
Deal financials were not disclosed. HCLTech has been selected as one of the preferred global suppliers in horizontal IT infrastructure services
‘Accenture’s large deals at historic high due to cloud, data offerings’
Karthik Narain, designate group chief executive of technology at Accenture, said cloud and data analytics are some of the offerings that are getting “bundled” into the bookings as companies are trying new operating models and pricing models.
Despite tepid environment for tech, artificial intelligence is slowly seeing big investments
IT majors like Tata Consultancy Services (TCS), Infosys, HCLTech among others have reported a number of proof of concepts and early stage programs using generative AI during their first quarter earnings announced earlier this month.
Weak macros, rising competition make market challenging for IT companies
The macro environment for Indian IT companies persists to be weak with global clients tightening their purse strings and the competition to grab existing deals in the market getting fiercer, company executives said as first quarter of the fiscal draws to a close.
Tech demand hits a low as clients tighten purse strings amid economic uncertainties
India’s top four IT firms–Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro–clocked double-digit revenue growth in FY23. Compared with last year, these companies have reduced their revenue growth outlook for FY24 by at least 50%.
Operational technology security emerging as key amid 5G industrial use case development
Operational technology is hardware and software that detects or causes a change, through the direct monitoring and/or control of industrial equipment, assets, processes and events. For 5G use cases like factory automation, securing the OT components of the factory floor will become important to ensure smooth operations.
ETtech Opinion | Trust, accountability of teams essential to leadership: HCLTech's C Vijayakumar
Debate over how productive people can be while working from home compared to working from offices is a subjective matter.
Efficiency-focused deals to help offset Europe delays: HCLTech CEO
Utilisation and realisation, and pricing benefits via automation to drive margins: HCLTech CEO
HCLTech logs 19% rise in Q3 net profit, beats Street estimates
The ongoing fiscal fourth quarter will be weak for its software business and will weigh on its overall numbers, HCLTech chief executive C Vijayakumar said
HCLTech wins digital transformation deal from SR Technics
HCLTech will implement a greenfield SAP S/4HANA environment hosted on Microsoft Azure using RISE with SAP. Moving to an agile, cloud-based ERP platform will allow SR Technics to transform and simplify its business operations and optimize IT operating costs across offices in Europe, Americas, Asia and the Middle East, offering comprehensive, fully customized MRO solutions for aircraft engines, airframe and components.
Downturn: Indian IT firms brace for a chilling winter this year
Though India’s top software services providers reported better-than-expected numbers last week, there are dark clouds on the horizon as an energy crisis in Europe and rising inflation in the United States threaten to disrupt the macroeconomic situation.
SaaS, IoT, AI and Cloud will continue to accelerate Indian IT: ETILC Members
The IT sector accounted for 8% of India’s GDP in 2020, which is a substantial increase from its contribution of 1.2% in 1998.
Astronauts, Y2K veterans roped in to ease work-from-home pains
Tata Consultancy Services conducted a video seminar for its nearly 4.5 lakh staffers with the American astronaut Ronald Garan, who shared his tips and tricks to survive in isolation.
Why MSMEs should manage their Digital Assets
As more and more business goes digital, asset for a company no longer represents merely land, building and machinery. Digital assets today represent the nerve center of processes and it is important and critical for MSMEs to manage and strategize the growing number of electronic and multimedia files.
Indian enterprises lost 4 TB of data in a year: Ripu Bajwa, EMC
Ripu Bajwa, Country Manager-Data Protection Solutions at EMC discusses the data protection readiness of the enterprises to meet the challenges of cloud.
Top five roadblocks to cloud integration
In the digital economy, integration is a business imperative, particularly in India, which is experiencing a huge acceleration in the corporate cloud adoption.
India Inc's IT spends look north; to touch $47 billion
The companies like Hero MotoCorp, Godrej Industries, Lowe Lintas is spending a substantial portion of its IT budget on expanding its existing IT infrastructure.
Indian companies shifting base out of the country in search of startup-friendly environments
Despite challenges, many young companies like WebEngage, DataWeave and Sparsha Learning are also in the process to relocate or expand operations to the US.
Convergence of social, information, mobile & cloud to impact sourcing in 2013
Managers must consider risks presented by the convergence of social, information, mobile and cloud when re-evaluating sourcing options and vendors: Gartner.
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