Infosys

Tagline

Net Worth

$81,000,000,000

Started in (City)

Pune

Started in (Country)

India

Incorporation Date

07th December, 1981

Bankruptcy Date

Founders

Narayan Murthy
S. Gopalakrishnan
S. D. Shibulal
K. Dinesh
N. S. Raghavan
Ashok Arora
Nandan Nilekani

About

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology, and outsourcing services. The company is headquartered in Bangalore, Karnataka, India. After their 2017 revenue figure, Infosys is the second-largest Indian information technology company after TATA Consulting Services. Infosys is the fifteen largest IT service provider in the world and holds nineteen positions in the world as one of the most innovative companies. The credit ranking of the company is A-.

Beginning

Infosys was co-founded in 1981 by seven engineers: Narayan Murthy, Nandan Nilekani, N.S. Raghavan, S. Gopal Krishnan, S.D.Shibulal, K.Dinesh, and Ashok Arora. All of them are former employees of Patni Computer Systems in Pune, Maharashtra, India and they started Infosys with an initial capital of $250. It was registered as Infosys Consultants Private Limited on 2nd July 1981. In 1992, the company changed its name to Infosys Technologies Private Limited. In July 1993, it become a public limited company offering shares for Rs 98 per share. In 1994, the company offered 5,50,000 shares to the public at Rs 450 each. The company's shares were listed on NASDAQ in 1999 through the ADR route. Infosys provides key products and services like next-generation integrated AI platform, Panaya cloud suite, digital marketing, engineering services, Infosys consulting (global management consulting service), and analytics platforms. The company has around 890 clients from thirty countries all over the world.

Road to Success

The first client of the company was Data Basic Corporation of New York in 1983. In the coming years, the company reached new heights in information technology services. Infosys has its branches in many countries such as Australia, the USA, China, Japan, etc. Approximately 1,200 employees are working in the United States branch of the company. Infosys is a leading provider in software development services to different sectors like insurance, banking, manufacturing, etc. The major project of Infosys is Finacle which is a chain of banking solutions that caters to almost all of the retail banking solutions in corporate sectors. In 2003, the company acquired an Australian-based information technology company for $23 million. It continued to acquire many other companies globally throughout the years. The world’s largest corporate university, Global Education Centre spawn across 337 acres is located at Infosys' Mysore training center. The campus has 400 instructors and more than 200 classrooms with an international benchmark at its core. It was established in 2002 and around 125,000 engineers graduated on June 15, 2002. The Infosys Leadership Institution (ILI) which is located in Mysore contains around forty-six rooms and around 400 trainees. There are 193,383 employees in Infosys out of which 35% are women. Out of the total, 79% of the employees are software professionals. The software giant comes under the top ten companies of the world list for its total amount of shareholder returns. Infosys also comes in the top twenty greenest companies across the globe. In 2019, Infosys was the winner of the United Nations Global Climate Action award and was ranked third best-regarded company in the world by Forbes. Infosys introduced the Infosys Foundation in 1996. The foundation was created to support the underprivileged. Many programs are started in various regions of Karnataka. Infosys set up innovation labs all over the world and the lab has collaborations with national as well as international universities across the world.

Challenges

In 2011, Infosys was accused of visa fraud for using B-1 visa for work that required an H-1B visa according to US Customs. This allegation was made by an American employee of Infosys. In October 2013, the company agreed to settle the civil suit with US authorities by paying a grand amount of $34 million. Infosys did not plead guilty and stressed the point that the company agreed to settle the case to avoid any prolonged litigations. In 2015, the United States Department of Labour investigated the visa fraud case but did not find any wrongdoing or fraudulent behavior.

Failures

It is widely considered that one of Infosys' biggest failures laid within the corporate governance by its board members. Critics often cited Infosys management's style of functioning as a cause for concern.

Achievements

Infosys was ranked No. 1 in the HFS Top 10 Agile Software Development 2020 report
Infosys was ranked as the 3rd Best Regarded Company in the World by Forbes
Infosys was a winner of the United Nations Global Climate Action Award in 'Climate Neutral Now'

Subsidies

EdgeVerve Systems Limited
Infosys BPM Limited
Infosys Consulting Holding AG
Infosys Public Services Inc.
Infosys Public Services Inc.
Infosys Consulting Ltda
Infosys Technologies (Australia) Pty. Limited
Infosys Technologies (China) Co. Limited
Infosys Technologies (Shanghai) Co. Limited
Infosys Technologies (Sweden) AB
Infosys Technologies S. de R. L. de C. V.
Kallidus
Panaya
Noah Consulting, LLC

CEOs

Salil Parekh