Infosys ( INFY Quick Quote INFY - Free Report) recently announced its strategic collaboration with one of the leading branded soft drinks businesses in Europe, Britvic. Per this deal, Infosys will offer end-to-end IT services to help Britvic achieve its strategic digital transformation goal.
The India-based IT services provider will also simplify and streamline Britvic’s cloud infrastructure by leveraging its Cobalt platform. Infosys Cobalt is a set of solutions, services and platforms that helps enterprises migrate to cloud.
Developments in Infosys Cobalt to Boost Prospects
Infosys Cobalt, launched on Aug 20, 2020, has gained significant momentum owing to the demand spike for cloud transformation by enterprises. It offers more than 4,000 cloud assets and above 200 industry cloud solution blueprints, which help companies build new cloud-first capabilities.
Moreover, in December 2020, the company expanded its Cobalt portfolio by introducing the Infosys Modernization Suite, which offers more than 40 modernization services to aid enterprises to modernize their legacy systems. Further, a solid partner base of 50 companies has enabled it to provide global modernization implementations to more than 600 customers.
Further, the company had rolled out Infosys Live Enterprise Application Management Platform via Infosys Cobalt to help enterprises accelerate the digital transformation initiatives, along with the management of their IT portfolios. The solution was picked by
Tyson Foods ( TSN Quick Quote TSN - Free Report) to facilitate digital transformation across its organization.
Additionally, solid adoption of Infosys Cobalt among its partners, such as
The Kraft Heinz Company ( KHC Quick Quote KHC - Free Report) , Daimler AG, GLOBALFOUNDRIES, JG Summit Holdings and Everest Group, is noteworthy. Growth in Digital Business: A Key Positive
Infosys’ shares have gained 5.2% year to date compared with the Zacks
Computers - IT Services industry’s growth of 3%.
Solid demand for Infosys’ digital services as well as its cloud, Internet of Things (IoT), security, and data analytics solutions is a key growth driver. The company benefits from higher investments by clients in digital transformation across workplaces. This has picked up amid the pandemic-induced remote working environment.
Notably, this Zacks Rank #3 (Hold) company’s digital revenues, which contributed 48.5% to the total revenues, grew 31.3% year over year (29.4% at cc) to $6.58 billion in fiscal 2021. You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Additionally, wider customer acceptance of Infosys’ Digital Banking solutions is a major positive. Its Finacle Solution was selected by RBL Bank, a private sector bank in India; Resimac, a non-bank lender in Australia and New Zealand; and XacBank, a universal bank in Mongolia; for enabling digital transformation across banking services.
Moreover, Infosys’ collaboration with
Adobe ( ADBE Quick Quote ADBE - Free Report) , Google, Microsoft, Amazon Web Services and salesforce.com to bolster its digital, cloud, legacy modernization and automation business will boost the company’s prospects over the long haul. Zacks' Top Picks to Cash in on Artificial Intelligence
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