Infosys Living Labs is delivering digital innovation as-a-service to help them meet next normal consumer expectations
BENGALURU, India, Aug. 4, 2021 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that Infosys Living Labs is driving the digital innovation agenda for over 100 global enterprises. With Infosys Living Labs, businesses can leverage on-demand multi-tiered digital infrastructure, comprising technology, processes, people, and an innovation ecosystem. The flexibility to consume these capabilities as modular services on tap, over ramping up and down the same capabilities in-house, is compelling for enterprises.
"Posti has embarked on a transformation journey and Infosys Living Labs, with its capabilities in innovation, has been instrumental in helping us accelerate this journey," said, Turkka Kuusisto, President and CEO, Posti Group Oyj.
Infosys Living Labs is helping enterprises adapt to new priorities and market trends, also enabling them to accelerate their response to these shifts with strategic innovations. This is proving to be a critical business capability for businesses to drive recovery and growth in the next normal. Infosys Living Labs delivers on the promise of:
Speed: Enterprises are creating the right conditions for rapid experimentation and response to market needs by collaborating with Infosys. Through Infosys Living Labs, they are kickstarting agile innovation cycles that start with instituting listening posts for trendspotting. They are also harvesting ready-to-scale innovations from the Infosys innovation ecosystem of startup and academia partners. Infosys Living Labs' sandboxes and incubation facilities also include shared maker spaces in Infosys global digital centers to accelerate the innovation process. A good example is how Infosys Living Labs helped an American investment firm spot changing consumer trends in their business and build gamified visualizations of retirement savings benefits for their customers in our digital center. This human experience delivered much-needed upticks in sales for them during the pandemic.
Scope: Infosys Living Labs is helping companies expand the breadth of their innovation by bringing expertise in emerging technologies, across a global footprint, along with cross-industry experience that most corporations seek. For example, a mail services company in Europe harnessed Infosys Living Labs to build a hyper-efficient parcel sorting mechanism. They co-created, with Infosys Living Labs a cloud-powered, IoT-assisted system with central intelligence to operate automatically and accurately year-long. It saved them the costs of setting up additional sorting facilities during seasonal peaks.
Scale: Because solutions that must work at scale must be designed for scale, enterprises rely on Infosys Living Labs' proven frameworks and best practices to go to market with scaled innovations. They count on Infosys Living Labs' talent and technology leverage to help them manage the pilot-to-production ramp up smoothly. As an example, a multinational distributor of food digitized their complex inbound supply chain with Infosys Living Labs. Taking a persona-focused prototype-driven approach to validate the various solutions with stakeholders, Infosys meticulously mapped requirements to scale the prototype with the capability landscape. In agile sprints, executed over the following weeks, the digital solution replaced 20% of the legacy landscape, driving 30% productivity improvements.
Ravi Kumar S, President, Infosys, said, "Digital natives have an incredible advantage as the capabilities, skills and culture needed to continuously experiment, learn and adapt are intrinsic in their organizational DNA. In contrast, incumbent enterprises must digitally transform, and at greater clock speed in the next normal. Infosys Living Labs helps them be digital-on-demand when their own digitalization is picking up pace and the full benefits of their transformation are yet to be realized."
Infosys Living Labs partners with the venture capital investment arms of global enterprises to mutually enrich portfolios of tech innovators on the one hand and bring the value of more innovations to more enterprises, on the other.
"We are excited to partner with Infosys to help our portfolio companies scale new heights by providing them access to Infosys' global client base. Infosys brings its rich heritage of delivery excellence and Global access to our portfolio companies. We are a growth investor in lighthouse technologies and Infosys Living Labs provides a great opportunity to bring best in class technology innovations to clients while de-risking the adoption of startup solutions for Infosys clients," said, Matthew Koertge, Managing Director, Telstra Ventures.
Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.