Wipro Technologies, the IT services business of Wipro Ltd. (WIT) announced that it has entered into a five year agreement with BP Plc. (BP) to provide IT Applications Development and Maintenance services for BP’s Fuels Value Chain and Corporate businesses across the globe.
Wipro has been selected as a strategic partner after an arduous selection procedure, which assessed the company on its IT capabilities, domain knowledge of the Oil and Gas sector and proven past record of operational transformation.
Wipro will support BP in IT standardization, simplification and achievement of corporate efficiency. This agreement significantly expands the scope of partnership between Wipro and BP to additional business segments and newer geographies in future.
Through this agreement, Wipro will provide benefits of scale and efficiency by utilizing its proven global delivery model, which will look at delivering services from locations across the globe for BP.
Wipro has enjoyed a compounded annual revenue growth rate of 25% over the last five years, exhibiting stability, profitability, and growth since inception and through down markets for IT services. A solid growth strategy, strategic acquisitions, robust performance of the IT Services and Products segment, and a leading position in the Indian Outsourcing market are some of the strengths of Wipro.
Wipro’s strategy is to expand its range of services in potential growth areas and develop each of those areas as a separate business opportunity. This strategy enables the company to serve clients in more industries and across a greater number of regions than many of its peers, and it has the largest presence in its Indian home market.
Wipro is a global provider of IT services, software solutions, research and development services, and is the third largest in India. It has development centers in India and abroad, which utilize its global resource pool and quality processes to provide cost-effective IT solutions to its clients around the world. Its primary competitors are Infosys Technologies (INFY) and Tata Consultancy Services.
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