ET BureauMUMBAI: Infosys' platform revenue has grown to over $500 million, and the company expects it to grow further as it puts in a dedicated sales overlay team to drive that business.
Platforms and products are a key focus for CEO Vishal Sikka, who has often said that the traditional labour arbitrage model of Indian IT would need to be replaced by more platforms and software-driven solutions if the industry wanted to stay successful in the long term.
“These (platforms) are things that have been growing quite well. So, our overall platform revenue has now grown to beyond $500 million and I expect that that will continue to grow,” Sikka told investors at the JPMorgan Investor Summit held in Delhi last Thursday.
The platforms and products business includes new platforms such as digital experience platform Skava, automation platform Mana and Panaya, and banking platform Finacle.
Panaya, Skava and Mana brought in about $53 million in revenue in the first quarter, Infosys has said. Last June, TCS had said that its eight platforms had reported more than $500 million in revenue, though that mainly included revenue from Diligenta. TCS' cloudbased platforms contributed under $200 million in revenue in the last financial year.
When Infosys had placed its products and platforms into the new Edgeverve unit two years ago, it had set a target of achieving 10% of its revenue from the products and platforms by 2020. They now contribute a little over 5% of its revenue. The company is also building new sales teams and technology capabilities to sell the new services.
“The new sales team will be a force multiplier for the new service. The idea was that the existing sales force was selling multiple things and there was expertise that was needed in-house,” Mohit Joshi, one of Infosys’ four presidents, said at the company’s analyst event last month.
The sales team will specifically focus on selling services on Skava, Panaya and Mana, and even the existing sales team has been given explicit incentives to sell automation, ET has previously reported.
Platforms and products are a key focus for CEO Vishal Sikka, who has often said that the traditional labour arbitrage model of Indian IT would need to be replaced by more platforms and software-driven solutions if the industry wanted to stay successful in the long term.
In June, Infosys brought in former Google executive Sudhir Jha to head product management and strategy around Mana, the company’s automation platform.
“These (platforms) are things that have been growing quite well. So, our overall platform revenue has now grown to beyond $500 million and I expect that that will continue to grow,” Sikka told investors at the JPMorgan Investor Summit held in Delhi last Thursday.
The platforms and products business includes new platforms such as digital experience platform Skava, automation platform Mana and Panaya, and banking platform Finacle.
Panaya, Skava and Mana brought in about $53 million in revenue in the first quarter, Infosys has said. Last June, TCS had said that its eight platforms had reported more than $500 million in revenue, though that mainly included revenue from Diligenta. TCS' cloudbased platforms contributed under $200 million in revenue in the last financial year.
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When Infosys had placed its products and platforms into the new Edgeverve unit two years ago, it had set a target of achieving 10% of its revenue from the products and platforms by 2020. They now contribute a little over 5% of its revenue. The company is also building new sales teams and technology capabilities to sell the new services.
“The new sales team will be a force multiplier for the new service. The idea was that the existing sales force was selling multiple things and there was expertise that was needed in-house,” Mohit Joshi, one of Infosys’ four presidents, said at the company’s analyst event last month.
The sales team will specifically focus on selling services on Skava, Panaya and Mana, and even the existing sales team has been given explicit incentives to sell automation, ET has previously reported.
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