Premium IT giant Infosys Ltd.INFY recently inked a five-year contract with TNT, the popular multinational express delivery company. Per the agreement, Infosys would equip TNT's information technology system with its Renew-New strategy.
In accordance to the Renew-New strategy, Infosys would help modernize TNT's existing information technology base with its SaaS and Cloud-based digital technologies. These technologies being flexible, user friendly and cost effective, would support the transformation of TNT's various applications more conveniently. The contract comes as part of TNT's technology turnaround and transformation strategy, the 'Outlook.' The Outlook program is aimed at ensuring greater flexibility and reducing complexity in the existing information technology system of TNT.
Infosys shares a high brand value in the global technology, consultancy, outsourcing and services market. In order to outshine its industry rivals, the company has been strategically expanding its international business over time. Few days back, the company marked its overseas welfare initiative through the extension of Infosys Foundation in the U.S.
The latest agreement is expected to further support the company's organic growth plans. At this juncture, we expect more such strategic actions on Infosys' part to uplift its margins and revenues in the upcoming quarters.
With a market capitalization of $41.95 billion, Infosys currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include CDW Corp. CDW , Fair Isaac Corp. FICO and MAM Software Group, Inc. MAMS . All the three stocks sport a Zacks Rank #1 (Strong Buy).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.