IBM in strategic outsourcing deal

secured a contract from India Infoline worth Rs 298 crore to transform the latter's IT Infrastructure and manage IT costs, reports The Times of India.

According to The Wall Street Journal, under the terms of the contract, IBM will take over India Infoline's (IIFL) full information technology operations at the company's 700 offices across the country.

IBM will also set-up a centralised help desk for India Infoline and also manage its technology infrastructure, including hardware and software, across all its locations in India, IBM said in a statement.

“The Indian financial services market is at an inflection point slated for growth where technology is the best enabler for higher penetration,” says IIFL group chief technology officer, Sankarson Banerjee, adding that the deal would enable the company to scale operations at short notices, writes The Economic Times.

IIFL caters to a customer base of about one million through online, phone and office branches. The deal would help IIFL in reducing people dependency on operations, eliminating points of failure and extending business value of existing applications.

IBM director for sales, strategic outsourcing, global technology services for India and South Asia, Karthik Shivram, said: “This strategic services deal with IIFL, will enable them to enhance their business value and gain competitive advantage through innovative use of technology.”