Infosys Ltd. 's ( INFY ) business processing outsourcing subsidiary, Infosys BPO Limited, extended its alliance with AkzoNobel - a leading global paint, coatings and specialty chemicals manufacturing company of Netherlands.
AkzoNobel had previously selected Infosys BPO for accelerating its finance transformation and streamlining initiatives for the Decorative Paints business in more than 30 nations across Europe, the Middle East and Africa.
As per the new agreement, which is the extension of the previous one, Infosys BPO will now aid AkzoNobel's transformation initiatives of the Performance Coating business across Europe and North America. In particular, Infosys BPO will provide the finance and accounting services from its global delivery centers in Poland and India in English and European languages. Also, the company will collaborate with AkzoNobel to establish a finance services organization in 55 locations, via combining work from seven business groups.
We view the extension of the alliance as a strategic fit for Infosys BPO, as it underlines the company's ability to offer transformational services along with strengthening its position in the global finance and accounting market.
Infosys BPO, which was set up in Apr 2002, defines, designs and delivers IT-enabled business solutions that focus on providing strategic differentiation and operational superiority to clients. The company offers a transparent business partner, world-class processes, speed of execution and the power to stretch clients' IT budgets by leveraging the Global Delivery Model that Infosys pioneered.
In order to further improve its overall performance, Infosys stated its intention to buy a key provider of automation technology - Panaya (read more: Infosys to Buy Panaya as Part of 'Renew and New' Strategy ).
Infosys currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include CDK Global, Inc. ( CDK ), CDW Corp. ( CDW ) and Fair Isaac Corp. ( FICO ). All three stocks sport a Zacks Rank #1 (Strong Buy).
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