BANGALORE, India and EAST BRUNSWICK, New Jersey, July 21, 2014 /PRNewswire/ --
Wipro Ltd. (NYSE:WIT), a leading global information technology, consulting and business process services company today announced that it has been named a 'Major Player' by the global technology research and advisory firm International Data Corporation (IDC) in its report IDC MarketScape: Worldwide Oil & Gas Professional Services 2014 Vendor Assessment, Doc #EI249425, June 2014.
IDC evaluated leading Oil & Gas professional services providers across 25 criteria, relating to current offering, capability, strategy and market presence based on client inquiries, user needs assessments, and vendor and expert interviews.
According to Jill Feblowitz, Vice President, IDC Energy Insights, "Leading oil & gas companies will be looking to their service providers to help them innovate and improve their performance in the coming years." Jill added, "The good news is that professional services firms have made great strides in building their oil & gas-specific capabilities in the past two years."
Elaborating on Wipro's capabilities and maturity in the Oil & Gas space, the report states:
- "Wipro is highly regarded in the industry for its domain expertise, especially in upstream"
- "Wipro has a strong and well-articulated set of product offerings supported by marketing".
- "While Wipro's stable of experts is impressive, it continues to build domain expertise"
- "The company is preparing for the future by concentrating on development of local domain experts in conjunction with its oil & gas clients in the Middle East, Canada, Australia, and other growth markets. Development of local resources is an important part of Wipro's growth strategy."
As per the report, Wipro ranks among the top 4 vendor firms, in terms of revenue associated with Oil & Gas. The report also states that Wipro has established its position in the Oil & Gas industry, especially with its major clients, where it is a preferred provider.
Commenting on Wipro's performance in the report, Suraj Rangashayi, Vice President and Global Head of Wipro's Oil & Gas business said, "We believe that our keen focus on building successful partnerships with our customers, and strategic investments and alliances to sharpen our capabilities in Oil & Gas, have resulted in a significant shift in the way Wipro has been positioned in this report; from a "Contender" in the previous one, to now a "Major Player". We continue to drive growth and innovation to stay ahead of where the Oil & Gas industry is going, ensuring that we help customers realise their future vision."
Wipro's Oil & Gas vertical is a part of Wipro's Energy, Natural Resources and Utilities strategic business unit.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of over 140,000, serving clients in 175+ cities across 6 continents. For more information, please visit http://www.wipro.com
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, 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 fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain 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, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at http://www.sec.gov. We 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. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
SOURCE Wipro Ltd