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Infosys (INFY) Selected by EPWater for CIS Transformation

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Infosys (INFY - Free Report) recently announced its strategic partnership with El Paso Water (EPWater), a municipal utility in El Paso, TX. Per the deal, Infosys will implement Oracle Utilities Customer to Meter (C2M) to facilitate the transformation of EPWater’s customer information systems (CIS).

The company will use its Preconfigured Accelerator for Customer Experience (PACE) solution to provide cloud services for customer self-service and mobile workforce management. This will enhance the customer experience by delivering cost-effectiveness and accuracy. Also, the PACE solution will help in the digitization of EPWater’s billing platform.

Further, EPWater will get access to new capabilities to boost employee productivity and improve customer engagement. Additionally, it will be able to enhance automation with Infosys’ Robotic Process Assistant on AssistEdge framework.

Moreover, Infosys will ensure the modernization of EPWater’s IT landscape and enhance audit control mechanisms along with providing financial transparency.

In November, the company announced a similar partnership with Citizens Energy Group. According to the agreement, Infosys implemented the Oracle Utilities C2M solution to help the latter boost its operational efficiency and enhance customer experience with a fully-integrated CIS.

Infosys Limited Price and Consensus

Solid Partner Base: A Key Positive

Notably, Infosys’ shares have surged 54.8% year to date compared with the Zacks Computers - IT Services industry’s growth of 39.5%.

This outperformance can be attributed to a strong top-line performance, driven by significant contributions from a solid partner base, which includes industry leaders such as Alphabet (GOOGL - Free Report) Google, Adobe, Microsoft (MSFT - Free Report) , Amazon’s (AMZN - Free Report) Amazon Web Services and salesforce.com.

Moreover, earlier this month, the company inked an agreement with Rolls-Royce to provide high-end engineering as well as research and development services for Rolls-Royce’s Civil Aerospace business in India.

Additionally, Infosys extended its partnership with the ATP, the governing body of the men's professional tennis circuits, for additional three years. Per the deal, Infosys will continue to be the Global Technology Services Partner and Digital Innovation Partner of the ATP, till 2023.

Ongoing Digital Transformation Fuels Top Line

This Zacks Rank #3 (Hold) company largely benefits from the ongoing digital transformation in the business landscape, which has fueled demand for its services such as cloud solutions, Internet of things, cybersecurity, SaaS, user experience, data and analytics. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Moreover, the company collaborated with SAP, to facilitate digital transformation and improve operational efficiency for Essential Utilities, the United States’ leading water, wastewater and natural gas provider.

Further, Infosys’ Finacle Solution was selected by Resimac, a non-bank lender in Australia and New Zealand, and XacBank, a universal bank in Mongolia, for enabling digital transformation across their enterprise.

Markedly, the company’s digital revenues, which contribute 47.3% to the total revenues, grew 27.4% year over year (25.4% at cc) to $1.57 billion in the second quarter of fiscal 2021. Moreover, it added 96 clients during the fiscal second quarter. Clients worth more than $100 million now add up to 30, up from the first-quarter number of 25.

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