case study of wipro

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Wipro case study

Wipro transforms organizations into intelligent enterprises with analytics and ai-powered solutions on the microsoft azure platform, businesses want to leverage advanced analytics and ai to improve their operations, but it can be cost-prohibitive to do alone.

Organizations around the world know that they can use their data to make better decisions, but generating key insights with analytics and AI requires deep expertise.

Finding a powerful partner in Wipro

Wipro helps clients adapt to the digital world and leverage the Microsoft stack, including advanced analytics, AI, and Microsoft Azure, to reach better business outcomes.

The “2D” approach: delight the consumer and drive operational efficiency

By helping clients innovate every step of the way during their digital transformation, Wipro is dedicated to improving the customer experience while optimizing business operations.

Wipro is a leading global information technology, consulting, and business process services company. Using analytics, cognitive computing, hyper-automation, robotics, cloud, and emerging technologies, Wipro helps clients adapt to the digital world and to reach better business outcomes.

Wipro is a pioneer in the field of data and analytics and has been providing highly relevant services for more than 20 years. The company has infused analytics and AI services into its approach to enable the “Intelligent Enterprise”—one that’s digital, supported by actionable insights, and powered by curated data to derive greater business value. And also, one which has the ability to surprise and delight customers and employees alike.

“We look at customers’ business processes with two goals: increasing customer satisfaction and driving operational efficiencies,” says Pushpa Ramachandran, Head of Strategy and Planning, Platforms & Solutions for Data, Analytics & AI at Wipro. “We don’t see this is an either/or proposition. It has to be both/and—and it can be because we innovate every step of the journey. We take a design thinking approach and frequently recommend an analytics and AI augmentation to help customers make better decisions faster.”

Analytics and AI solving business problems

Wipro sees analytics and AI as a way to enhance the value of data services for customers through practical analytics and AI applications that solve business problems. Its consultants and technology experts help customers envision “the art of the possible” and ensure that analytics and AI solutions are delivering tangible business outcomes.

To that end, Wipro created industry-specific blueprints for the intelligent enterprise, to guide customers as they envision potential process transformations focused on buyer personas, creating an end-to-end digital experience. The company has a two-pronged strategy centered on “2D”—Delight the consumer and Drive operational efficiency. That is, solutions should make people's lives easier, even as they solve business problems.

To strengthen its offerings, Wipro introduced AI Lab and Power BI Dashboard Factory through Topcoder, its crowdsourcing platform, which hosts over 1.4 million data scientists and analytics professionals. The Power BI Dashboard Factory is a differentiated offering for high-volume production factories that deliver dashboards on a per unit, fixed-price menu. AI Squad is another initiative that enables Wipro to build competency and solution-focused teams to develop competencies and solutions.

Wipro and Microsoft’s strategic partnership

A longtime Microsoft partner, Wipro has been collaborating closely with Microsoft on data and analytics services for the past 15 years. Wipro has a long history and deep expertise across Microsoft’s portfolio of data and analytics products, including SQL Server, Power BI, and the Azure cloud. The company’s flagship solutions—Wipro HOLMES , an analytics and AI automation platform, and the Data Discovery Platform —were built on the Azure platform in close collaboration with Microsoft.

“When you look at the last three to four years, the focus has really started moving more towards Azure as a unified ecosystem,” says Kunal Turakhia, Head of Decisions Science practice for Data, Analytics & AI at Wipro. “And as we’ve seen Azure mature, a lot more efficiencies have come in for our customers. We use the whole analytics toolset that Azure provides and augment it with the deep expertise of our architects and consultants to recommend the right toolset to solve the specific business problem. Many of our customers who have moved their applications onto Azure want to add analytics or AI, whether it’s machine learning, Cognitive Services, or knowledge mining using the Azure tool stack.”

Microsoft has recognized Wipro’s leadership in the analytics, data and AI space several times, with achievements such as Data & AI Innovation Partner of the Year and Microsoft Gold Cloud & Data Analytics platform partner.

Driving actionable insights for global customers

Wipro has been working with customers across multiple industries to drive actionable insights with analytics and AI solutions. These include:

A medical device manufacturer engaged Wipro to unlock the value of organizational data—for its customers and employees and on its products, through machine learning and reporting. Data and machine learning algorithms are being leveraged to proactively service and maintain manufacturing equipment, ensure optimal availability of technical service staff to improve customer service SLAs. Ideas on innovation are identified from customer request and complaint data and many more applications.

A business cafeteria retailer is working with Wipro to create a pricing recommendation engine that uses machine learning techniques to help optimize prices across its locations.

A water utility company in Australia engaged Wipro to transform its legacy systems, including operational technology, data, and business intelligence, to comply with regulatory requirements, improve customer service, and be nimble. Wipro is also implementing water management use cases using machine learning, analytics, and AI.

Promising growth through innovation

Looking ahead, Wipro sees several opportunities to deepen its strategic partnership with Microsoft and continue to explore applications of analytics and AI that solve business challenges.

“Customers across the industries need analytics and AI-powered digital capabilities to stay competitive and drive business value,” says Simran Sachar, Analytics & AI Director, Microsoft One Commercial Partner. “Our analytics and AI partnership with Wipro is bringing together our capabilities and value proposition to solve customers’ business problems and deliver superior experience and outcomes together.”

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Azim Premji is an Indian billionaire entrepreneur and philanthropist who is widely recognized for his significant contributions to the Indian information technology (IT) industry. He is the chairman of Wipro Limited, one of India’s largest and most prominent IT services companies. Here are some key details about Azim Premji

Azim Premji was born in Mumbai, India, on July 24, 1945. He studied Electrical Engineering at Stanford University in the United States but returned to India in 1966 following his father’s untimely death to take over the family business.

Azim Premji took charge of Western India Vegetable Products Limited (Wipro’s precursor) in 1966, primarily dealing with vegetable oil production. Under his leadership, the company diversified into IT and eventually became Wipro Limited. He played a pivotal role in transforming Wipro into one of India’s leading IT services companies. His strategic vision and leadership steered the company’s growth, and it expanded its global footprint, offering a wide range of IT services and solutions.

He has been featured on various Forbes lists of billionaires. His philanthropic efforts have also earned him recognition, including being named one of Time magazine’s 100 most influential people worldwide. In July 2019, Azim Premji retired as the chairman of Wipro Limited after leading the company for several decades. His son, Rishad Premji, succeeded him as the company’s chairman.

His contributions have not only made a significant impact on the IT industry in India but also on social and educational initiatives aimed at improving the lives of people across the country.

Having known about the person behind creating one of India’s biggest tech giants, let us know the marketing strategies adopted by the company to evolve itself among its competitors.

MARKETING STRATEGY OF WIPRO

Wipro serves clients across various industries, including technology, healthcare, financial services, manufacturing, retail, energy, and more. Its services help organizations leverage technology and innovation to enhance efficiency, improve customer experiences, and achieve business goals.

Wipro is a well-known and globally recognised company that aims to provide the best of the best services to its customers

it has several products ranging from automobile, consumer goods, retail, professional service, product engineering, and many more.

When it comes to IT services, the company provides us with:

• Application Development and Maintenance
• Infrastructure Services
• Cybersecurity Services
• Quality Engineering and Testing
• Blockchain Services
• Artificial Intelligence and Machine Learning
• Data Analytics and Business Intelligence

Not only this, it also provides us with services like Finance and Accounting Services, Customer    Relationship Management (CRM) and Customer Experience Management, Supply Chain Management

Wipro Limited, a large and diverse IT services company, employs various pricing models and strategies depending on the services and solutions offered to clients. Pricing in the IT services industry can be complex and customized based on factors such as the scope of work, the difficulty of the project, the duration of engagement, and the client’s requirements. Below are some common pricing models and factors that may influence Wipro’s pricing policy are below. Under the time and materials model of the company, clients are billed based on the actual hours worked and the cost of materials or resources used. This is generally used for projects where the scope is not properly defined.

In a fixed-price model , the project scope, deliverables, and costs are agreed upon upfront. The client pays a predetermined, fixed price for the entire project. His model is suitable when the project requirements are well-defined and stable.

In a Subscription Pricing model, clients pay recurring fees for ongoing services or access to software solutions. This model is commonly used for software-as-a-service. Apart from the above-mentioned major pricing policies, various other models comprise the overall prices of the company’s products.

Various factors influence the pricing policy of the company. Some of them are listed below.

• Difficult projects may have higher pricing.
• Long-term contracts with other companies can lead to heavy discounts or different pricing structures.
• Pricing of the products offered by other tech companies also leads to variations in the pricing policy of Wipro.

3. Promotion

We all know that promotion plays a significant role when it comes to the growth of the company. Wipro maintains a strong online presence through its website and social media channels. It uses these platforms to share news, updates, success stories, and thought leadership content. Regular engagement with followers helps foster a sense of community.

Wipro frequently shares case studies and success stories highlighting its collaboration with clients. This eventually impacts the further onboarding of clients. The company also always fulfils its corporate social responsibility.

Partnerships with technology partners and other organizations are highlighted in its advertising strategy. These partnerships help Wipro provide complete solutions and reach a wider audience. The company also has occasionally used industry experts as brand ambassadors or spokespersons to increase brand visibility. The company also involves itself in environmental awareness initiatives. Not only this but also the company adopts a client-centric approach in its advertising, highlighting its dedication towards the existing client base. 

For the information of our readers

Wipro Limited, primarily an IT services and consulting company, is not a manufacturer of consumer goods like household products or consumer electronics. Instead, Wipro provides information technology services, consultancy services, and digital solutions to businesses and organizations across various industries. It’s essential to differentiate between Wipro Limited, the IT services company, and Wipro Enterprises, a separate entity within the Wipro Group, which manufactures and sells consumer goods, lighting products, and healthcare products under various brand names. Wipro Enterprises includes businesses like Wipro Consumer Care and Lighting and Wipro GE Healthcare.

NOTABLE ACQUISITIONS OF WIPRO:

• Appirio (2016):   Wipro acquired Appirio, a cloud consulting company based in the United States, for approximately $500 million.
• Info SERVER (2017): Wipro acquired InfoSERVER, a Brazil-based IT services provider, to strengthen its presence in the Latin American market.
• International TechneGroup Incorporated (ITI) (2019): Wipro acquired ITI, an engineering solutions and services company based in the United States, to enhance its engineering and manufacturing solutions capabilities.
• Capco (2021) – Wipro acquired Capco, a global management and technology consultancy, for approximately $1.45 billion.

Also, read our success story of Mumbai Dabbawalas.

We assume that by now, our readers must have a basic idea about the company, its services and the acquisitions made by the company. Now, let us conclude today’s blog by updating you with the company’s current market price and returns because our readers feel like investing after reading these company insights. The company has traded for 406 with above-average returns over the past few years.

The company is constantly developing and evolving to new heights. 

Frequently Asked Questions (FAQs)

• Who is the founder of Wipro? Azim Premji founded Wipro.
• When was Wipro founded? Wipro was founded in the year 1945.
• What are the major services provided by Wipro? Major services provided by Wipro are consultancy services.
• What is the current market price of Wipro? The current market price of Wipro is 406.
• Is Wipro Limited and Wipro Enterprises the same? No, Wipro Limited and Wipro Enterprises are different.

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Building a Global Brand: The Case of Wipro Building a Global Brand: The Case of Wipro

In this business case study, we describe the transformation of Wipro, a Bangalore-based information technology company. Founded in 1945 as Western India Vegetable Products Limited, Wipro is today the world's largest independent R&D services provider and among the top three offshore business process outsourcing (BPO) service providers with over 490 clients, 53000 employees and 40 plus development centers across the globe. Wipro's aim was to continue its transformation from a low cost provider of outsourced services to become a global information technology leader, delivering world-class solutions to its global customers through a process of fostering ongoing internal and external innovation while maintaining the cost advantage associated with being located in India. The case also describes the steps senior management at the firm took to enhance brand awareness, brand differentiation, and brand positioning, which were all playing important roles in the growth of the company. Teaching objectives of the case include a) understanding the evolution on the Wipro Brand, b) developing strategic initiatives to move up the value chain, c) enabling intellectual leadership and building a global outlook within a large services firm, and d) managing the challenges and opportunities of a technology-based global delivery model, combined with a multi-location strategy.

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Indian IT service firms are successfully competing with world leaders and research on the industry is emerging. Providing analysis at firm rather than industry level, this article identifies the windows of opportunity open to Indian firms, with the following findings: (i) the catching-up process by Indian IT firms can be classified as a three-stage ‘body shopping–offshoring–global delivery model’, comparable with the three steps in original equipment, own-design and own-brand manufacturing; (ii) the window of opportunity for Indian firms was primarily the techno-economic paradigm shift, and secondarily the government's regulation and support of the industry; and (iii) Indian firms initially partially re-invented their own path by offshoring and created their own global delivery model, gradually moving to higher value-added services.

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Organisations have put in significant effort to improve quality, service and flexibility and reduce cost to achieve world-class performance. These firms are striving for new competitive advantages to build upon their manufacturing capabilities. For many firms, part of this effort has included an examination of the activities of the maintenance function. Since maintenance is an integral part of manufacturing, it can significantly influence a firm’s competitiveness. The desire to reduce costs and improve service levels has led many companies to review the way they do their maintenance work and to come up with new solutions and strategies to develop and increase their competitiveness. Outsourcing is one of these strategies that can lead to greater competitiveness and hence many organisations are now outsourcing maintenance besides several in-house activities. Outsourcing focuses on two strategic ways of developing competitive advantage: first, concentrating the organisation’s resources and investments on what it does best i.e. the firm’s core competence and second, outsourcing all other activities for which the company has neither a strategic need nor a special capability. This paper, through an extensive literature review, examines the issues of outsourcing maintenance in manufacturing firms. The existing maintenance outsourcing frameworks in literature are critically examined. A five step framework that would allow efficient and effective implementation of outsourcing maintenance has been developed. Firms should first map maintenance activities in a logical area and then evaluate each of these activities critically on effectiveness required and risk involved in outsourcing. Once the activity to be outsourced is established, the next step is to document a proper maintenance outsourcing plan. It is also important to evaluate the outsourcer based on the skills and knowledge required for that activity. Having identified the outsourcer, a suitable maintenance outsourcing contract is to be agreed upon and then efforts are to be made for smooth handover of the contract. This framework is applied to a glass manufacturing firm which is contemplating outsourcing maintenance activities

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Wipro Complete Case Study and Business Model

• Post author: StockPe
• Post published: May 3, 2023
• Post category: Uncategorized
• Post comments: 0 Comments

The information technology (IT) solutions and advisory sector is among the swiftest expanding industries worldwide, and it is consistently developing. Enterprises in this sector provide a vast array of amenities, including programming creation, information technology guidance, and upkeep, among other things. As per Statista’s findings, the  global IT services industry is predicted to expand to around $1.1 trillion by 2024. This indicates a CAGR of 4.6% from 2019 to 2024.

Wipro has undergone significant transformations and diversifications. Today, they are a diversified company that offers IT services, consumer care, and lighting solutions. They also have various subsidiaries, such as Appirio, a cloud consulting company, and Holmes, an AI and automation platform. All in all, Wipro is a leading IT services and consulting company that has been able to navigate the challenges and thrive in the industry. In this blog, we will explore Wipro case study and business model, marketing strategy, and everything there is to understand their journey and what makes them stand out.

Wipro Case Study ( 5-Year Financials)

Notable acquisitions:.

Throughout the years, Wipro has completed numerous tactical purchases to enhance its standing within the sector. In the Wipro case study, here are some of the most significant ones:

Wipro has pledged to attain net-zero discharges by 2040, aspiring to diminish emanations by 55% before 2030. This shows the company’s dedication to sustainability and contributing to a better world.

Wipro Case Study – Most Renowned Clients

Wipro business model.

Wipro’s business model concentrates on delivering comprehensive IT services and solutions to its global clientele. They have diversified their revenue streams by offering a range of services, including application development and maintenance, consulting, digital, infrastructure management, business process services, and product engineering services.

Another interesting thing in our Wipro case study is Wipro’s unique value proposition is centred around innovation, expertise, and customer-centricity. They’ve established a solid standing for their capacity to offer customized resolutions to fulfil the particular requirements of their customers. They’ve also built a worldwide reach, with branches in more than 50 nations, enabling them to offer assistance to customers in diverse areas.

Key Partnerships:

● A US IT business chose Wipro for engineering services to upgrade its advertising-technology suite and corporate infrastructure. Wipro will assist the client shift workloads to the cloud and offer these services from four worldwide locations under an agile POD-based delivery model.

● Wipro will provide Service Desk, Field Services, and Service Integration & Management to 63-country workers of a multinational chemicals firm. This strategic alliance will streamline operations and consolidate suppliers into one.

● Wipro is partnering with a leading US healthcare plan to grow its self-funded small group business. Wipro’s healthcare payer digital platform will process claims and provide member services, reducing costs.

Wipro Case Study – Cost Structure

Wipro has effectively managed its cost structure, with its IT Services operating margin at 15.1%, an increase of 16 bps QoQ. Their operating cash flows were also at 180.6% of net income for the quarter, an increase of 101% YoY.

Wipro caters to various clients, comprising enterprises in the finance, healthcare, shopping, and telecom sectors. The company has customized its offerings to fulfil the distinct requirements of every customer group, aiding them in forming enduring collaborations with their patrons.

Wipro Marketing Strategy

Wipro’s marketing strategy is tailored to specific customer segments, and they have a unique differentiation strategy. As we have read till now in this Wipro case study, the company has positioned its brand as a leading global information technology, consulting, and business process services company, and this has helped them stand out in a crowded industry. In 2022, their voluntary attrition measured in the trailing twelve months for the quarter was at 23.0%, a moderation of 30 bps from the previous quarter.

Wipro caters to various clients, comprising enterprises in the finance, medical, shopping, and telecom sectors. The company has customized its offerings to cater to the distinct requirements of every group of consumers, enabling them to form enduring alliances with their patrons.

Wipro Share Price and Returns

Wipro stock price and investment returns have fluctuated significantly over the past decade. The Wipro share price has moved around a lot throughout the years. At April end of 2023, Wipro’s stock price was 385.15 Rs. During the previous ten years, the value of Wipro’s shares has varied from ₹212.40 to ₹711.55.

Comparison of Wipro’s Share Returns with Competitors

To gain insights into Wipro’s relative performance and competitiveness, we will compare their share returns with their competitors in the industry. As of May 2023, Wipro share returns in the last 10 years have been 157%, outperforming Infosys (123%) and TCS (130%). Wipro share returns in the last 10 years highlight Wipro’s ability to maintain a strong market position and deliver shareholder value even in challenging times. Regardless of challenges, they’ve upheld a robust market stance, owing to their varied service propositions, formidable financial standing, and strategic endeavours.

To sum up, Wipro exemplifies a corporation that has effectively steered through the fiercely contested and swiftly changing realm of information technology solutions and guidance. From their innovative business model to their tailored marketing strategy, Wipro has proven themselves to be a leader in their industry. Impressive numbers have been shown throughout the Wipro case study, including their consistently rising revenue, profit, and notable acquisitions. We have also learned more about its distinct marketing strategy and stock performance, which routinely surpassed that of several of its rivals.

Wipro distinguishes itself from rivals due to its capacity to promptly adapt to changing market circumstances. They have demonstrated expertise in the industry and customer inclinations and leveraged this understanding to maintain their leading position in their domain. Peering ahead, Wipro’s supremacy in the realms of IT solutions and advisory services is indisputable.

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Case study: How ITIL 4 helped Wipro deliver value

Author   Axelos Team

September 12, 2023  |

  15  min read

1. Introduction

When discussing the business landscape from 2020 to 2021, it is impossible to ignore the challenges caused by the COVID-19 pandemic. It was a serious test of every organization’s business continuity, agility, and resilience. The pandemic exacerbated existing factors that had not been prioritized, but now had to be urgently managed.

However, some organizations were able to overcome these challenges and even increase growth during these uncertain times. This case study will explore how Wipro Limited, a leading global IT company, used ITIL® 4 to deliver greater value to the customer during the pandemic.

2. Wipro and its digital-first strategy

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging their holistic portfolio of capabilities in consulting, design, engineering, and operations, they help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, Wipro delivers on the promise of helping customers, colleagues, and communities thrive in an everchanging world.

2.1 The four pillars of the digital-first approach

Wipro provides a range of services including digital strategy advisory, technology consulting, global infrastructure services, business process services, cloud, mobility and analytics services. In addition, the company offers custom application design, re-engineering and maintenance, systems integration, package implementation, research and development, and hardware and software design.

Wipro’s business strategy is about driving a digital-first approach via four pillars:

• business transformation
• modernization
• connected intelligence

Wipro’s aim is to earn client trust and maximize the value of organizations, by helping them to reinvent their operational model using the four pillars.

3. The disruption caused by COVID-19 requires agility

The World Health Organization (WHO) officially declared COVID-19 a pandemic on 11th March 2020. This led to dramatic changes to the global society and economy, which required a robust response from organizations.

It is impossible to ignore the challenges caused by the COVID-19 pandemic. Existing and underlying challenges were exacerbated, and new challenges were created. This was especially true of IT services, which directly affected Wipro and its clients.

In response, Wipro deployed a COVID-19 global crisis management task force in March 2020. The task force was chaired by the chief operating officer and consisted of several cross-functional teams, including business continuity, IT, and cybersecurity services. Most employees were asked to work from home with enhanced cybersecurity measures in place.

However, ensuring that Wipro maintained its operations continuity was not enough. The organization’s clients were also affected by the crisis, but in different ways. Wipro teams worked hard to support clients in their response to the pandemic. For example, as the COVID-19 lockdowns caused airlines to suspend flights worldwide, a large airport had to shut down international commercial air traffic while handling cargo planes containing essential supplies. In just 48 hours, Wipro enabled more than 800 airport employees to work from home with full access to business-critical applications and a suite of training resources for their remote work system.

Wipro has a strong business continuity plan framework that enabled the company to respond to the COVID-19 pandemic with agility. Approximately 90% of the workforce transitioned to home working and continued to serve clients, delivering on several time critical milestones and processes.

3.1 Using ITIL 4 to meet COVID-19 challenges

Wipro has been using ITIL guidance for years to optimize the management of its IT services. In 2019, the company started a programme to leverage ITIL 4, combining them with existing best practices.

ITIL 4 includes practice guides for incident management, change enablement, problem management, continuity management, and risk management. This enables organizations to effectively manage operations and minimize risks at all levels.

Wipro partnered with Quint Consulting Services, a global consulting and training organization, to be one of the first adopters of ITIL 4 since its launch in March 2019. The entire team of ITSM members were certified in the new ITIL 4 modules along with the MP Transition modules to bridge the knowledge from the previous ITIL V3 to ITIL 4. While most of the IT service providers were still struggling to stabilize the older ITIL V3, Wipro was already developing its new methodology on the new ITIL 4 value-based service approach.

Wipro has used ITIL 4 to meet the challenges introduced (and further exacerbated by the pandemic), including:

• Transitioning to digital Organizations across multiple industries are transitioning to digital business models. In a digital ecosystem, collaboration will become a key element of business strategies.
• New ways of working The pandemic accelerated changes to established ways of working, which required a new approach. Consequently, home/hybrid working became the norm and was enabled by collaborative technologies.
• Adaptable, agile, and resilient enterprise Wipro evaluated their technology stack to ensure that they could be flexible and agile, and work with partners who could respond and adjust quickly to changing circumstances.
• Optimization and automation The compulsory implementation of social distancing accelerated automation.

4. How Wipro uses ITIL 4 to maintain its industry position

To overcome these challenges and encourage resilience, Wipro relies on its values, culture, and people, which enable the creation and delivery of products and services to meet the current and future needs of stakeholders.

4.1 The four dimensions of ITIL 4

Organizations and people

Human capital has enabled Wipro to successfully meet its strategic objectives and the challenges described above. Therefore, Wipro must ensure that its workforce can meet the demand for digital and domain-specific expertise in the post-pandemic world, while supporting other types of capital (such as intellectual, social, and relationship) with the relevant knowledge, skills, and culture.

For example, an organization’s talent strategy depends on scaling global, diverse, local, and distributed talent. This includes scaling: those with T-shaped, pi-shaped, comb-shaped, X-shaped, or E-shaped skill sets, project managers, programme managers, process managers, product managers, scrum masters, site reliability engineers, automation engineers, multi-cloud experts, and full stack engineers. These roles should combine creativity with a business and product-centric mindset, to effectively innovate and deliver services.

Yet, what do we mean when we say that a person has a T-shaped, pi-shaped, comb-shaped, X-shaped, or E-shaped skill set? These terms are used to describe the type of skills possessed by employees, with each line in the shape representing a particular type and breadth or depth of skill. For example, a T-shaped person has a depth of specialized skill(s) or expertise in a particular area(s), represented by the vertical line in ‘T’. The horizontal line in ‘T’ represents their breadth of general knowledge in other areas, which means that their knowledge is shallower and not at an expert level but encompasses a much broader range, than that represented by the vertical line.

A X-shaped employee possesses what is known as the executive skill set. They possess a depth of expertise, represented by one diagonal line in the ‘X’, and strong leadership skills, represented by the other diagonal line in the ‘X’. An employee with an E-shaped skill set possesses four characteristics, which are expertise, experience, execution, and exploration. They possess a depth of knowledge, represented by the vertical line, and a breadth of knowledge, represented by the horizontal lines.

An E-shaped employee has skills in execution (delivering products and/or services) and exploration (continual improvement), as well as expertise and experience.

To support the workforce and talent strategy, Wipro transformed its organizational structure to develop the required competencies in its talent. This included introducing new roles, such as leaders of talent engineering and skill family:

• talent engineering leaders are responsible for the end-to-end processes of the people supply chain, including demand forecasting, workforce management, training and competency building, and coordinating hiring decisions.
• skill family leaders are responsible for developing the skills of all internal employees with training and certification.

Information and technology

Leveraging the available information and transforming to the latest technology to enable smooth operations became challenging during the pandemic. Wipro adopted technology such as migrating the user profiles to cloud and usage of auto pilot mode for enabling support staff to operate from remote, usage of VPN and secure token, usage of collaboration tools (Microsoft Teams, Cisco Webex), and use of knowledge management to enable a process-centric approach.

Suppliers and partners

Collaboration with various suppliers was needed to enable the team to work from remote locations. When the pandemic started, Wipro decided to introduce a crisis management team and ensured business critical support engines continued as part of business continuity. However, remote working became the new normal. The team was able to work from home by collaborating with various suppliers. Wipro demonstrated trust by being transparent, ensured data security and meeting all customer expectations as trusted partners.

Value stream and process

The pandemic demanded a change in operations. Adoption of remote working culture, enabling effective usage of collaboration tools and information required changes to the ways of working and processes. Wipro was quick in adopting an Agile approach, introduced daily operational huddles to monitor, review and track IPC operations. Any critical request/concerns were added into a backlog or prioritized after discussing in a daily huddle. This has provided more confidence and increased trust on the ways of working and processes.

4.2 Practice: incident management

It is not enough to have the best people and products; they must also be supported by effective and efficient operations. For example, an important aspect of the successful and secure delivery of IT services is how it is maintained, supported, and changed.

Wipro utilizes the ITIL 4 incident management practice for more than 200 clients. Wipro controls the incident management process for their clients as an end-to-end owner/executor/integrator. Over 200 priority one incidents are logged every quarter for small to large accounts. More than 250 incident managers are deployed on these accounts.

Although the objective of incident management is to quickly restore services, Wipro utilizes the restoration of services to create business value by using ITIL 4 to:

• enhance levels of customer satisfaction by improving turnaround times
• ensure effective communication between Wipro stakeholders during an incident
• ensure effective resolution during incidents and demonstrate the value of ‘One Wipro’
• ensure a consistent approach and methodology for handling incidents
• learn from previous incidents and share the knowledge across other teams/customers within Wipro.

Wipro encourages its support teams to spend more time on proactive incidents analysis, rather than only reacting to problems as they arise.

Incident data is a valuable source of quantified information about what is failing and why. Every quarter, Wipro consolidates and analyses the high priority incidents. The results are then shared with the customers to avoid similar incidents. The analysis seeks to:

• establish relationships in the data (who, what, when, where, and what)
• uncover patterns (why are things happening and what does it mean?)
• determine the best improvement opportunities
• process the information to determine top categories by volume and top categories by customer impact (downtime, number of users impacted).

Wipro has utilized the results of the analysis to make improvements, such as improving turnaround times. Consequently, Wipro has adopted certain approaches. One such approach is to quickly identify the symptoms of the incident, which are then used to discover the likely causes, resulting in a significant reduction in incident recovery time.

Yet, the data from previous incident resolutions is only useful if it can be accessed by the right people when needed. This is why basic knowledge management is so important. Wipro has found that successful incident management also requires a two-pronged approach to resolving incidents. It includes the proactive analysis of incidents and resolutions, and creating a collection of authoritative knowledge articles that describe the incident and how it can be resolved.

Wipro has found it useful to implement deadlines to resolve major incidents in a timely manner to prevent further disruptions. Moreover, Wipro has realized that when there is little progress in incident management, a change in approach and engaging further expertise can result in vast improvements.

The incident management data can also be used to identify improvement opportunities for services and find solutions to business needs. For example, Wipro has used the data to answer the following questions:

• What new or changed services could improve customer engagement?
• Where and how could new technologies or services relieve pain points for customers?
• Are there areas where additional user training could help? Can the training cost be justified by an increase in user effectiveness and less time spent with the service desk?
• What features of services cause the most questions and frustrations to customers, and what could be changed to make it less confusing and frustrating?
• How are customers using services in unexpected/creative ways that might indicate improvement opportunities?
• What workarounds are customers using to compensate for shortcomings in services?
• Where and how could a customer group benefit from leveraging what other customer groups are doing?

4.3 Practice: problem management

Wipro has implemented the problem management practice to great success, including greater customer satisfaction. For example, Wipro has adopted a centralized tracking system to help identify issues and to eliminate repeat issues at an organizational level.

Wipro has implemented the reactive, proactive, and predictive approach to problems. This has improved the effectiveness of the practice, permanently resolved certain problems, and avoided future problems.

The reactive approach

The fix for the service disruption is performed by technical expert consultants, who are not involved in the day-to-day work of that particular client. The solution must be effective to avoid repeat occurrences.

Successful solutions are documented, with a 98% to 100% document submission rate. The documents, alongside the work of technical expert consultants, has improved the level of customer satisfaction. Nevertheless, failure can also be a learning opportunity. Every year, documents from failed actions are consolidated and analysed to prevent similar failures.

As a result, there has been a 10% to 15% year-on-year reduction in service disruption despite the growth in the number of clients.

The proactive approach

Wipro decided to review its technology to reduce repeat problems. As a result, automation tools were deployed for certain clients. This led to a reduction in tickets and prevented human error and major incidents.

The use of bots also led to an annual reduction of 20% to 30% in time that employees would have otherwise spent in resolving the issue, as well as a 20% to 60% reduction of low priority incidents.

The predictive approach

Wipro analysed the configuration items to predict and prevent problems from ever arising in the first place. Various tools and prediction techniques were used, such as Densify and vROps.

4.4 Practice: change enablement

Wipro has successfully implemented the change enablement practice, previously called change management, resulting in greater customer satisfaction and an industry-leading success rate.

Effective change enablement is one of Wipro’s key priorities. Wipro implemented the change enablement practice for more than 150 of its managed services clients by acting as an end-to-end owner. This process was supported by over 200 change managers, who were deployed in accounts to manage the change process, governance, and control. More than 180,000 changes were executed within a year for cloud and infrastructure services, and over 1,900 of those changes were critical and categorized as high risk and high impact.

Wipro implemented the centralized critical change review and governance board to ensure that complex changes are planned, reviewed, and implemented with little or no impact on the customer. All changes are reviewed and approved by technology experts. This process has been in operation for five years now, leading to a higher success rate and minimizing disruptions to services.

To ensure that the change enablement is consistent and effective across Wipro, several initiatives were implemented. This includes designing a standardized change process with integrated tools at the account level. The customer was also involved in the change approval process.

Change types and the lead time were defined according to the customer business need. Wipro also implemented centralized change key performance indicators (KPIs) for all managed services clients and a postimplementation review (PIR) for unsuccessful changes. This was to avoid the recurrence of the same issues. Moreover, guidelines were established for the change review part of the technical assessment board and change advisory board (CAB) reviews. The guidelines were made available, along with other templates and example documents in a central pool, which includes a risk/impact assessment, freeze communications, change review guideline, templates, and so on.

Change managers were instrumental in implementing change enablement activities and in training staff in the new processes and continual service improvement (CSI) initiative for the process area.

The result of this work was clear; Wipro’s change enablement practice significantly exceeds the industry average as per a benchmarking assessment conducted by Pink Elephant EMEA during 2018 to 2019.

Parameter references as follows.

5. Benefits to customers

Strong governance and operationalization of ITSM best practices enabled customers to respond to business-critical events quickly and reduce MTTF (Mean Time to Failure) and MTTR (Mean Time to Resolve). This enabled root cause identification and elimination of repeated issues, strengthened change reviews leading to higher change success, process standardization and sharing best practices. This benefited multiple customer businesses with improved user experience, and resilience and reliability in IT infrastructure and services.

Wipro has successfully used ITIL 4 to address social, technological, and economic challenges, helping its clients transform their organizations. Wipro has transformed internally to develop and maintain a scalable, highly competent, and continually developing global workforce. The organization has successfully implemented the incident management practice, the problem management practice, and change enablement practice to deliver cost and time savings, as well as improving customer satisfaction.

7. Further reading

To explore this topic further, please see ITIL® 4 Foundation

8. Contributors

• Pratibha Ramesh, group head, Wipro FullStride Cloud, Wipro Limited
• Jigna Bhatt, head-IT service management, Wipro FullStride Cloud, Wipro Limited
• Ramanadha Kunda – delivery head, Wipro FullStride Cloud, Wipro Limited
• Yathiraja Prabhu – program manager, Wipro FullStride Cloud, Wipro Limited
• Soumya Acharya - senior project manager, Wipro FullStride Cloud, Wipro Limited
• Sunil Kumar N – global head, customer onboarding - IT service mgmt., Wipro FullStride Cloud, Wipro Limited
• Sandeep Gondhalekar, lead ITSM consultant, Quint Consulting Services Pvt. Ltd.
• Sunil Mehta, director - India, Middle East & Africa, Quint Consulting Services Pvt. Ltd.

How ITIL® 4 helped Wipro deliver value

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Case Study: How 100 shares of WIPRO grew to be over Rs 3.28 crores in 27 years?

by Kritesh Abhishek | May 31, 2018 | Investment Basics , Stocks | 2 comments

Case Study: How investment in 100 shares of WIPRO grew to be over Rs 3.28 crores in 27 years?

Indian stock market is filled with the examples of amazing stocks which has created enough wealth for its loyal shareholders to live a long happy life. Last week, we discussed one such stock- the case study of  Infosys .

In this post, we are going to discuss the case study of WIPRO- an Indian information technology giant company owned by Azim Premji.

WIPRO Wealth Creation Story:

Assume you bought 100 shares of WIPRO in 1990. At that time, the face value of one stock of WIPRO was Rs 10. For simplicity, we are considering that you bought the stocks at the face value. Hence, your initial investment would have been Rs 1,000.

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(Note: Stocks in the Indian stock market rarely trade below their face value. Most of the shares trade at a high premium compared to their face value. However, there has been a number of adjustment in the share price of the company since 1990 because of various bonuses and stock split. Therefore, just for simplicity, we are considering that you purchased the stock at the face value. Moreover, when you compare the appreciated value with the purchase price, you’ll understand that it wouldn’t have made much difference even if you had bought this stock at a little premium.)

Since 1990, WIPRO has given seven bonuses to its shareholders and one stock split (till 2017). Let’s also assume that you didn’t touch the stock after buying. This means that you didn’t sell any stock since the purchase and also avoided any profit booking.

Now, let us analyze the bonuses and stock split of WIPRO for past 27 years.

• 1990: 100 shares
• 1992: 200 shares (1:1 bonus on 12-08-1992)
• 1995: 400 shares (1:1 bonus on 24-02-1995)
• 1997: 1,200 shares (2:1 bonus on 20-10-1997)
• 1999: 6,000 shares (5:1 split on 27-09-1999)
• 2004: 18,000 shares (2:1 bonus on 25-06-2004)
• 2005: 36,000 shares (1:1 bonus on 22-08-2005)
• 2010: 60,000 shares (2:3 bonus on 15-06-2010)
• 2017: 1,20,000 shares (1:1 bonus on 13-06-2017)

(Source: Money Control )

In short, 100 shares of WIPRO bought in 1990 would have turned out to be 1,20,000 share by 2017.

Also read:  Stock split vs bonus share – Basics of stock market

Capital Appreciation:

Let’s find out the current worth of the 100 shares that you bought in 1990.

As of May 2018, the market price of one share of Wipro is Rs 273.75

Total Number of share= 1,20,000 Net Value = Rs 273.75 * 1,20,000 = Rs 3,28,50,000.

The net appreciated value would be worth over 3.28 crores.

Your small investment in the 100 shares of WIPRO in 1990 would have turned out to be worth over 3.28 crores in next 27 years.

Don’t forget the dividends…

In the last 27 years, WIPRO has given a decent annual dividend to its shareholders. However, here we are just considering the dividends for the last four years.

Annual dividend per share by WIPRO for last 4 years–

• 2014: Rs 8.00
• 2015: Rs 12.00
• 2016: Rs 6.00
• 2017: Rs 4.00

Annual dividend received by the shareholders can be calculated using this formula:

Annual dividend received= Dividend per share * Total Number of shares

Assuming that you bought 100 shares of WIPRO in 1990, here are the annual dividends that you would have received:

• Dividends (2014) = Rs 8 * 60,000 = Rs 4,80,000
• Dividends (2015) = Rs 12 * 60,000 = Rs 7,20,000
• And Dividends (2016) = Rs 6 * 60,000 = Rs 3,60,000

Moreover, for the year 2017, the total number of shares in your portfolio would have turned out to be 1,20,000.

Dividends (2017) = Rs 4 * 1,20,000 = Rs 4,80,000

Overall, you would have received dividends worth Rs  4,80,000  in just an year by literally doing nothing.

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The best part…

Even if you don’t sell your stocks, you are holding a total of 1,20,000 shares in your portfolio and hence are eligible to get dividends on all those shares.

Moreover, dividends increase over time. If the company announces a bigger dividend next year, you will receive even a bigger passive income through dividends. In addition, if the company announces any bonuses in future, even your grandchildren lives can be considered as secured 🙂 (kidding!!).

Also read:  How ‘Not’ to Kill The Goose That Lays the Golden Eggs?

Conclusion:

Time and again, the stock market has proved that the long-term investment is the real strategy to create huge wealth.

WIPRO is just an example. There are a number of companies in the Indian stock market which has given even a better return compared to WIPRO. For example- Eicher Motors, MRF, Symphony, Page Industries etc. Although it’s little difficult to hold a stock for such long-term and not to book any profit. However, if you are a conservative investor with good patience level, then you can definitely receive amazing returns from your investments.

In the end, here’s a quote by Warren Buffett:

“Our favorite holding period is forever.” 

Also read:  How to Earn Rs 13,08,672 From Just One Stock?

Kritesh ( Tweet here ) is the Founder & CEO of Trade Brains & FinGrad . He is an NSE Certified Equity Fundamental Analyst with +7 Years of Experience in Share Market Investing. Kritesh frequently writes about Share Market Investing and IPOs and publishes his personal insights on the market.

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Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!

This is what the power of compounding can make anyone rich in the long run. A very inspiring article that any newbie investor can advantage of.

Well designed website on Indian share market.

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Bengaluru (Karnataka) [India], May 28 (ANI): Wipro announced partnership with the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc) Bengaluru to develop a personal care engine to reduce and manage the risk of cardiovascular disease by utilizing AI, the company informed the exchange in its filing.

The company announcing the partnership on Tuesday informed that the collaboration will develop new technologies for prevention and management of long-term health disorders and to provide precision support for these diseases.

The company highlighted that the personal care engine will focus on reducing and managing the risk of cardiovascular disease and correlated neurodegenerative disorders, by using AI to personalize its interaction with users, optimizing for their long-term health and wellbeing. Wipro will test the engine through a digital app-based trial in collaboration with CBR at IISc.

The company says that this partnership will focus on harnessing the power of artificial intelligence (AI), machine learning (ML), and big data analytics to develop these technologies.

“We are delighted to be partnering with the CBR and IISc on this journey. Our personal care engine enables wide ranging applications and benefits for health management. It has the potential to mitigate lifestyle related conditions and even enhance cognitive and psychosocial functioning” said Subha Tatavarti, Chief Technology Officer, Wipro Limited.

Wipro highlighted that its research & development (R&D) team, part of Lab45, will design and develop a personal care engine – an AI that will take into account an individual’s health history, desired health state, and other behavioural responses – to promote healthy aging, positive lifestyle changes, and psycho-social wellbeing to meaningfully improve an individual’s health over time.

“Our collaboration with CBR will pioneer solutions at the intersection of computing and cognitive sciences, bringing scalable personalized care support for some of the most chronic health challenges globally. Cardiovascular conditions are a particular focus for us, because of their strong association with long-term cognitive issues and the potential for broad health and wellbeing benefits at lower costs,” said Dr. Ajay Chander, Head of Research and Development, Wipro Limited.

This trial will generate valuable evidence regarding the engine’s effectiveness for contexts that are deeply relevant for long-term health outcomes. Wipro’s technological expertise, combined with CBR’s leading brain science research, will unlock new possibilities for patient care and cognitive and overall health.

“Working with Wipro allows us to amplify our scientific expertise through large-scale digital applications. This partnership will accelerate the path from research to real-world solutions in cognitive and overall health,” said Professor K.V.S. Hari, Director, Centre for Brain Research.

The collaboration in R&D capability of both institutions will develop systems that deliver better health outcomes at the population scale. (ANI)

This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.

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Wipro stocks updates: wipro dividend updates, wipro stocks updates: wipro closes at rs 453.65 with 2.16% decline, investors watch market response, wipro stocks updates: wipro stock price update: decline of 2.57% today, ema3 at 456.52, wipro stocks live updates: wipro stock sees 2.15% decline, ema5 at 458.67: market update, wipro stocks live updates: wipro sees minor decline in stock value, trading at rs 454.45 with sma3 at rs 459.3, wipro stocks live updates: wipro news, wipro stocks live updates: wipro sees 2.09% decline, sma7 at rs 459.65 signals short-term downtrend, wipro stocks live updates: wipro sees price dip of 1.98% today, 3-year returns at -4.44%, wipro stocks live updates: wipro sees price dip of 2.15% today, 1-week returns at -5.77%, wipro stocks live updates: wipro sees 1.98% dip in current price, yet delivers impressive 21.73% 1-year returns, wipro stocks live updates: wipro sees 2.03% decline in price, trading volume at 5.74m shares, wipro stocks live updates: wipro sees price dip of 1.98% today, average daily volatility stands at 2.67 units over 3-month period, wipro stocks live updates: wipro sees price dip to rs 456.55 with 1.54% decline today, 3-month returns at -7.56%, wipro stocks live updates: wipro sees price decline to rs 456.40 with 1.57% drop today and -13.28% 1-month returns, wipro stocks live updates: wipro stock details, wipro stocks live updates: wipro sees 1.97% decline in price, trading at rs 454.55 with low 6-month beta of 0.2422, price updates: wipro stock price slips over 2% from previous close of rs 463.65, breakouts updates: wipro witnesses bearish price breakout below s2 support level, moving averages updates: wipro stock slips below 20-day sma at rs 459.75, registers 0.84% decline, moving averages updates: wipro stock slips below 20-day ema, registers 0.52% decline to rs 461.25, wipro stocks live updates: wipro closes at rs 463.65 with below-average trading volume, wipro stocks live updates: wipro closes at rs 463.65 with -7.56% 3-month return, investors watch market trends, wipro stocks live updates: wipro records weekly return of -5.77% as stock closes at rs 463.65, wipro stocks live updates: wipro closes at rs 463.65 with 6-month beta of 0.2422, wipro stocks live updates: wipro closes at rs 463.65 with 2.39% decline in previous day trading volume of 4,102,763 units.

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< -->Wipro Collaborates with the Centre for Brain Research at IISc to Pioneer AI-Driven Health Behavior Innovations

Wipro Collaborates with the Centre for Brain Research at IISc to Pioneer AI-Driven Health Behavior Innovations

The collaboration will advance R&D for precision health and wellbeing at population scale

BENGALURU, India – May 28, 2024: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced a collaboration with the Centre for Brain Research (CBR), an autonomous, non-profit research organization, hosted at the Indian Institute of Science (IISc). This partnership will focus on harnessing the power of artificial intelligence (AI), machine learning (ML), and big data analytics to develop new technologies that will provide precision support towards the prevention and management of long-term health disorders.

Wipro’s research & development (R&D) team, part of Lab45 , will design and develop a personal care engine – an AI that will take into account an individual’s health history, desired health state, and other behavioral responses – to promote healthy aging, positive lifestyle changes, and psycho-social wellbeing to meaningfully improve an individual’s health over time.

The personal care engine will focus on reducing and managing the risk of cardiovascular disease and correlated neurodegenerative disorders, by using AI to personalize its interaction with users, optimizing for their long-term health and wellbeing.

Wipro will test the engine through a digital app-based trial in collaboration with CBR at IISc. This trial will generate valuable evidence regarding the engine’s effectiveness for contexts that are deeply relevant for long-term health outcomes. 

Wipro’s technological expertise combined with CBR’s leading brain science research will unlock new possibilities for patient care and cognitive and overall health. The combined R&D prowess of both institutions will develop systems that deliver better health outcomes at population scale.

Subha Tatavarti, Chief Technology Officer, Wipro Limited , said, “Wipro is committed to transforming the landscape of healthcare through technological innovation, and we are delighted to be partnering with the CBR and IISc on this journey. Our personal care engine enables wide-ranging applications and benefits for health management. It has the potential to mitigate lifestyle-related conditions and even enhance cognitive and psychosocial functioning.”  

Dr. Ajay Chander, Head of Research and Development, Wipro Limited , said, “Our collaboration with CBR will pioneer solutions at the intersection of computing and cognitive sciences, bringing scalable personalized care support for some of the most chronic health challenges globally. Cardiovascular conditions are a particular focus for us, because of their strong association with long-term cognitive issues and the potential for broad health and wellbeing benefits at lower costs.”

Further emphasizing the importance of this partnership, Professor K.V.S. Hari, Director, Centre for Brain Research , said, “Working with Wipro allows us to amplify our scientific expertise through large-scale digital applications. This partnership will accelerate the path from research to real-world solutions in cognitive and overall health.”

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at  www.wipro.com .

About the Centre for Brain Research

The Centre for Brain Research (CBR) was established as an autonomous, non-profit research organization in the Indian Institute of Science campus. The mandate of CBR is to conduct and support transformational research to understand the functioning of the aging brain in health and disease. CBR aims to develop and foster large scale focused research programs and build capacity for inter-disciplinary neuroscience research in the country that would set the stage for Indian scientists to contribute in a significant manner to the endeavor of understanding the aging brain and discovering rational therapies and cures for neurodegenerative disorders.

Media Contact:

Wipro Media Relations

media-relations@wipro.com

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations, and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov . We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

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