Infosys’ platform revenue crossed $500 million

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Infosys‘ platform revenue has grown and crossed over $500 million, and the company expects it to grow further as it puts in a dedicated sales team to drive that business.

Platforms and products are a key focus for CEO Vishal Sikka, who has often said that the traditional labor 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.

The platforms and products business of the IT giant includes new platforms such as digital experience platform Skava, automation platform Mana and Panaya, and banking platform Finacle.

They also said that Panaya, Skava and Mana brought in about $53 million revenue in the first quarter.

When Infosys had placed its products and platforms into the new Edge Verve unit two years ago, the company 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 improving its technology capabilities to sell the new services.

One of the presidents of Infosys, Mohit Joshi stated “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.”

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.

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From ITvoir News Desk

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