With changes of time, India’s largest IT Company Infosys is in plan to move with its new business strategies to shift from traditional services business to products and platforms, as per saying by its Chairman KV Kamath on Saturday.
Addressing the shareholders at the company’s 31st annual general meeting in Bangalore, Kamath told reporters, “The course correction cannot be done in eight months and can be done over a long period of time.”
Every business deals with ups and downs and Infosys also had faced a much disappointment for technology business last year as challenges of commoditization and scalability that shifting the demand from traditional to industry-specific high-value offerings.
Facing the challenges, the new strategy is as per clients requirement helps to reduce their capital expenditure and increasing their return on investment, however source said, Infosys has announced a final dividend of Rs 22 per share and a special dividend of Rs 10 per share on behalf its subsidiary Infosys BPO.
While asking about plans of acquisition for growth, the company said that “Acquisition doesn’t happen overnight”, it should be as per strong strategic plan so that have right returns without wasting shareholders’ returns.
Moreover, Platforms and Products is the new wave that declined the application development business, and raises the value of the change to products and platforms, which the companies are focusing on, Kamath said while announcing its move in course of long term plans.