Markets

News Details

( 09/08/2018 00:09)
TCS software product ignio eyes $100 mn revenue in two years

Digitate, a venture of Tata Consultancy Services (TCS) today said its software product, ignio, is expected to achieve USD 100 million revenue in the next two years, reported PTI.

"Our software product ignio has achieved spectacular growth in the first three years of the launch and clocked revenues of USD 31 million as on March 2018. We now aspire to be one of the fastest software product to achieve USD 100 million in revenues in the next two years," TCS vice president and Digitate global head, Harrick Vin told reporters.

It was launched in 2015 with the objective of leveraging artificial intelligence (AI), machine learning and advanced software engineering to transform enterprise IT services.

It has been adopted by mostly Fortune 500 and global 2000 corporations, and currently manages over 1.5 million technology resources autonomously for over 50 clients.

ignio is used by enterprises to manage their IT infrastructure, ERP environments (SAP), batch workloads, applications and business processes, he added.

"Rapid breakthroughs in digital technologies - such as artificial intelligence, machine learning and automation - are reshaping businesses and fostering creative disruptions. The revenue and customer growth for ignio has been over 100 per cent y-o-y. The success and growth of ignio reaffirms TCS' Business 4.0 strategy, helping customers leverage technology to innovate and gain a competitive advantage," TCS CEO and managing director Rajesh Gopinathan said.

Greater adoption of ignio has helped the company achieve triple-digit annual growth in both customer acquisition and revenue, he said.

Indigenously developed at the TCS Research & Innovation Labs, ignio has over 75 patents filed in the AI, machine learning and intelligent automation space. Digitate recently launched an alliances and channel partner program and has 10+ partners on board.

Digitate is a venture of TCS founded in 2015 as a wholly-owned entity. It is headquartered in Santa Clara, California, USA and Pune.

ATTENTION INVESTORS 1 : "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case | 2 : "Prevent Unauthorized Transactions in your demat / trading account --> Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors. | 3 : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

SEBI Regn. NSE: INB231280430 I F&O: INF231280430 I BSE: INB011280436 I NSE CD: INE231280430 I MCX-SX: INE261280430

Copyright © 2017 Rikhav Securities Ltd. All rights reserved

Designed , Developed & Content Powered by DION