Named the fastest-growing IT services brand in the world earlier this year, Infosys has seen a 52% increase in its brand value year-on-year, and more than 80% since 2020, positioning it among the top three most valuable IT services brand globally.
The India-headquartered digital services and consulting firm has also seen its revenues reach record levels, recording its fastest growth in April 2022 in more than a decade with revenues growing to US$16.31bn in FY22, indicating a 19.7% growth.
And even amidst the current uncertain economic environment, Infosys continues to deliver a strong performance, recently reporting a robust Q1 performance with year-on-year growth at 21.4% with digital accounting for 61.0% of overall revenues, growing at 37.5%.
This sees Infosys, which is India’s number two IT services company, continue to gain market share and see a significant pipeline driven by its recently launched Cobalt cloud capabilities and differentiated digital value proposition. In April, the firm launched Infosys Cobalt Financial Services Cloud, an industry cloud platform for enterprises across the financial services industry to accelerate business value and innovation in the cloud.
Infosys strengthens presence in Singapore and Sydney, with new hires and lab
The IT major, which is present in more than 50 countries, continues to expand its presence across markets and invest in rapid talent expansion, with chief executive Salil Parekh recently saying Infosys “may hire more than 55,000 freshers in FY23” during an IT industry lobby Nasscom’s annual NTLF event.
"We are fuelling the strong growth momentum with strategic investments in talent through hiring and competitive compensation revisions,” says Nilanjan Roy, Chief Financial Officer. “While this will impact margins in the immediate term, it is expected to reduce attrition levels and position us well for future growth.”
As well as ambitious hiring in India, the firm is strengthening its presence in Singapore with 300 new hires and is set to unveil the second of its digital innovation spaces in Australia in recent months.
Infosys recently announced a commitment to hiring 300 Singaporean workers over the next three years across a variety of roles, to support the Singapore government’s ongoing programs to create employment opportunities for freshers and mid-career professionals.
This collaboration with IMDA enables Infosys to bring onboard local talent and help implement its localisation and continuous learning strategies, and underscores Infosys’ investment and commitment to leverage its digital expertise to develop a highly skilled future workforce “at a time when the world is trying to embrace digital at scale to navigate the post-pandemic economic reality”, says Shaji Mathew, EVP, Infosys.
The IT major also just announced the opening of its Sydney Living Lab, a high-tech co-creation space for digital network, that is part of a network of 20 labs worldwide. This new Sydney lab brings together Infosys’ digital ecosystem including clients, partners, start-ups, academia, and government to inspire and nurture innovative digital solutions.
This follows the recent opening of the Melbourne Living Lab in April this year, and signifies Infosys’ commitment to Sydney, and to Australia in general; and comes just months after the opening of the Aerospace Engineering and Digital Innovation Centre in Bengaluru, India, a joint collaboration between Infosys and Rolls-Royce.
This sees the two firms, which have a longstanding partnership, combine their strengths in engineering and digital innovation to explore opportunities for driving digital and engineering innovation and ultimately to accelerate growth in the civil aerospace market.
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