Infosys (INFY - Free Report) has announced that it is partnering with Siemens PLM Software to develop applications and Internet of Things (IoT) engineering services for the latter’s open cloud-based IoT operating system — MindSphere.
MindSphere is a platform connecting industrial machinery and equipment to the digital world. It boosts businesses by providing robust industry applications and digital services.
Infosys’ expertise and experience in industrial engineering and analytics, along with its stronghold in emerging fields like augmented reality (AR) and virtual reality (VR) is long documented. On the other hand, Siemens is known for its dexterity with manufacturing industrial assets.
Motive Behind the Partnership
The new synergistic partnership between the two juggernauts is sure to add value to digital services for customers, primarily in the manufacturing, energy, utilities, healthcare, pharmaceutical, transportation and logistics industries.
The collaboration will enhance efficiencies with strong data analytics, including predictive maintenance and end-to-end factory visibility.
Infosys will use its storehouse of Industry 4.0 accelerators to account for end-to-end implementation services and post-implementation support for MindSphere. Additionally, it will also use platform tools like AR/VR tools and apps such as factory visibility to expedite the process of customer onboarding to MindSphere.
Increasing competition in the digital market is driving enterprises to constantly deliver new and innovative services. With this partnership, Infosys expects to bring new solutions to customers to improve their competitiveness.
Extended Partner Base, New Solutions to Drive Growth
Infosys has been dedicatedly carrying out the “Renew New” program, which includes restructuring of customer-centric functions and unification of delivery systems. This is proving to be highly beneficial for the company.
With this program, Infosys has helped clients like Edgewell Personal Care, PrimeRevenue and Myer to renew traditional IT services and infrastructure. The company is positive about the growth prospects of its customer-centric initiatives, including its newest endeavor with Siemens.
Infosys’ investments in new services, particularly in Cloud Ecosystem, Big Data and Analytics, Data and Mainframe Modernization and IoT Engineering Services are promising. A look at the performance of the company shows that these investments are proving to be accretive to the top-line growth of the company. The company has consistently outperformed the industry’s 9.5% rise year to date with an average return of 17.4%.
Zacks Rank and Stocks to Consider
Infosys currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Computer and Technology sector are SCIENCE APPLICATIONS INTERNATIONAL (SAIC - Free Report) and Verint (VRNT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and Amdocs (DOX - Free Report) carrying Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for SCIENCE APPLICATIONS, Verint and Amdocs is projected to be 5%, 10% and 9.05%, respectively.
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