HCLTech’s new cloud native initiative, Cognizant unveils GenAI tool
Here is your daily dose of key developments from the technology world of India
HCLTech, Cisco alliance for cloud native solutions
HCLTech, has announced that its Cloud Native Lab in London will showcase Cisco’s technology solutions to enable enterprises to explore and co-create scalable and reliable cloud native solutions that enhance end-user experiences.
The collaboration with Cisco will showcase a range of advanced technologies, including private and sovereign cloud, hybrid cloud, Cisco - Compute and data center networking, security, multi-cloud networking and full-stack observability solutions.
A statement said, that enterprises can use this Cisco lab space to test applications and real-world use cases to gain insights into how cloud-native technologies can transform their businesses. Through firsthand demonstrations and interactive sessions, clients can experience the power of these technologies and understand their potential to accelerate digital transformation initiatives.
Cognizant unveils new GenAI tool in partnership with Microsoft
Cognizant has announced its collaboration with Microsoft on the launch of the Innovation Assistant, a generative AI-powered tool built on Microsoft Azure OpenAI Service, which is expected to augment the company’s internal innovation programme - Bluebolt.
The Innovation Assistant is a tool designed to assimilate enterprise knowledge and enable greater creativity and innovation among teams of Cognizant employees working to solve client challenges across industries. This tool is expected to drive the innovation framework within Cognizant from ideation to implementation.
Kapture forms partnership with Philippines-headquartered tech company
, a SaaS-based customer experience (CX) platform has recently announced its partnership with Aether Global, a technology solutions provider headquartered in the Philippines. This collaboration will enable Kapture to expand its presence in the Southeast Asia region.
As part of the collaboration, Aether Global will now serve as a key reseller of Kapture's CX solution suite in the Philippines. The CX platform of Kapture allows businesses to manage customer interactions across various channels, analyze data to derive actionable insights, and enhance overall customer satisfaction.
IT exports from India grew 12% in FY23: ESC
The export of software and services from the country saw 12.21% growth for FY23 as compared to FY22, according to an estimate made by the Electronics and Computer Software Export Promotion Council (ESC).
The value of software and services exports for FY23 stood at $193 billion as compared to $172 billion in FY22. In terms of breakup, software and services contributed $126 billion followed by $52 billion from business process management, $9 billion from engineering services and $5.1 billion from software products. According to ESC, India is the leading destination for global services of $550 billion in 2022, accounting for 35% of the market share.
L&T Technology Services registers 13% rise in net profit for Q3
L&T Technology Services, an engineering services company has reported a net profit of Rs 336.2 crore for the third quarter of the current fiscal year recording a year-on-year growth of 13%. The revenues during this period stood at Rs 2,421.8 crore which was 12 percent YoY growth.
According to the company, it signed a total of six $10 million plus total contract value deals across all industry segments which also includes a $40 million deal and a $20 million deal. At the end of Q3FY24, the patents portfolio of L&T Technology Services stood at 1,249, out of which 811 were co-authored with its customers and the rest filed by LTTS.
Newgen Software net profit rises by 45%
Technologies reported a net profit of Rs 68 crore for the third quarter of FY24 which was a year-on-year (YoY) growth of 45%. The revenues during this period stood at Rs 255 crore recording a rise of 27 percent.
Commenting on the results, Newgen Chairman and Managing Director Diwakar Nigam said, “In the nine-month period ending December 2023, Newgen has demonstrated strong growth in revenues led by India and EMEA. We are witnessing tremendous opportunities in the Lending and Trade Finance space. We have also maintained robust profitability and strong cash flow generation, highlighting the financial strength and resilience of our operations.”
Edited by Affirunisa Kankudti
