Infosys Ltd Essays

Infosys Ltd Essays Infosys Ltd Essay Infosys Ltd Essay Infosys Limited (NYSE: INFY) was started in 1981 by  seven people with US$ 250. Today, we are a global leader in consulting, technology and outsourcing with revenues of US$ 7. 231 billion (LTM Q3 FY13). Many of the world’s most successful organizations rely on Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise. Our award:  To set standards in our business and transactions and be an exemplar for the industry and ourselves Integrity and Transparency:  To be ethical, sincere and open in all our transactions Fairness:  To be objective and transaction-oriented, and thereby earn trust and respect Excellence:  To strive relentlessly, constantly improve ourselves, our teams, our services and products to become the best pic] BUSINESS EXCELLENCE Business Excellence, as described by the European Foundation for Quality Manageme nt (EFQM), refers to;†Outstanding practices in managing the organization and achieving results, all based on a set of eight fundamental concepts†, these being, â€Å"results orientation; customer focus; leadership and constancy of purpose; management by processes and facts; people development and involvement; continuous learning, innovation and improvement; partnership development; and public responsibility†. This definition serves as a typical example of those put forward today.In general, business excellence models have been developed by national bodies as a basis for award programmes. For most of these bodies, the awards themselves are secondary in importance to the wide-spread take up of the concepts of business excellence, which ultimately lead to improved national economic performance. By far the majority of organizations that use these models do so for self-assessment, by which they can identify improvement opportunities, areas of strength, and use the mode l as a framework for future organizational development.Users of the EFQM Excellence Model, for instance, do so for the following purposes: [pic] When used as a basis for an organization’s improvement culture, the business excellence ‘criteria’ within the models broadly channel and encourage the use of  best practices  into areas where their effect will be most beneficial to performance. When used simply for self-assessment the criteria can clearly identify strong and weak areas of management practice so that tools such as  benchmarking  can be used to identify  best-practice to enable the gaps to be closed.These critical links between business excellence models, best practice, and benchmarking are fundamental to the success of the models as tools of continuous improvement. The most popular and influential model in the western world is the one launched by the US government called the Malcolm Baldrige Award Model (also commonly known as the Baldrige model , the Baldrige criteria, or The Criteria for Performance Excellence). More than 60 national and state/regional awards base their frameworks upon the Baldrige criteria. New Business Excellence (NBX) for Property Casualty (P C) Commercial Lines Improving the effectiveness and efficiency of underwriting and related business processes is critical to profitable growth. Infosys New Business Excellence (NBX) solution for P ; C enables commercial lines carriers to revamp new business processes and leverage technology. NBX helps carriers improve their operational efficiency and makes underwriting more effective by making it data driven, thus creating a robust platform for sustained rofitable growth. Legacy IT systems and traditional manual paper-intensive workflow prevent efficient integration of information across the enterprise for many commercial lines carriers. As a result, they have to spend time and money on underwriting even routine flow type risks. Our NBX solution is an integrated framework which transforms the whole new business submission process for commercial lines carriers. It is based on four core concepts, which allow integration of new business applications and enable: Capturing and converting content to electronic form Use of rules engines for analysis and predictive modeling Integrated workflow management Integrated data exchange with common user interface NBX enables: Complete automation of the underwriting process of flow business, e. g. commoditized products like Business Owners Package Systematic processing of some of the transaction business e. g. complex risks like commercial liability by simulating underwriter decisions through rules engines.It means only the highly complicated risk selection scenarios are routed as exceptions for manual underwriting. [pic] The impact of each activity in the underwriting value-chain: [pic] |Infosys bags CII-Exim Bank Award for Business Excellence  news | | |[pic] | Infosys Technologies has been declar ed the winner of the CII-Exim Bank Award for Business Excellence 2002, becoming the first software services company to win this prestigious honour.The award acknowledges Infosys excellence in Total Quality Management in the following areas: leadership, policy and strategy; people, customer-driven processes, partnerships, corporate citizenship and performance in creating value for all its stakeholders (customers, shareholders, employees, partners and the society at large). The Confederation of Indian Industry and the Export Import Bank of India jointly instituted the CII-EXIM Bank Award for Business Excellence in 1994. It is today recognized as one of the most prestigious awards in India for business excellence.The rigorous process of assessment, lasting six months, follows the Business Excellence Model based on the European model for Total Quality Management, a global benchmark. Announcing the award during the 10th Quality Summit, CII deputy director general N Srinivasan said: The m embers of the jury are very pleased to award this trophy to a company that has become a role model for its value-based leadership, exemplary corporate governance, best-in-class processes, caring and development of people, commendable wealth creation, and delivery of world-class products and services. Acknowledging the award, Infosys Technologies chairman and chief mentor N R Narayana Murthy said: The 13,000-strong family of Info scions and the Infosys Foundation are very honored to have been conferred this award. I am very thankful to CII and the Exim Bank for having partnered with us in our journey to excellence. This award is a great honor for Infosys and recognizes our passion for excellence. At Infosys, it is our mission to continuously strive to set higher standards.The CII assessment takes a holistic view of excellence, fosters integration and promotes a uniform understanding of improvement strategies and opportunities. The review and feedback process has been a great learni ng experience and we look forward to sharing our journey with other corporations, says K Dinesh, member of the board and director (quality, HR and IS) Infosys Technologies, while presenting the Infosys journey at the Quality Summit. Leading the software services industry, Infosys is placed with previous eminent winners from the manufacturing sector in India such as Hewlett Packard, Maruti Udyog and Tata Steel.Reputed global corporations in Europe who have received awards based on this model include Rank Xerox, Ericsson, IBM, Texas Instruments, British Telecom and TNT. New business process is a key Infosys’ view is that new business processing is most significant time and cost area for carriers. From this application emerges a solution concept that is based on four core principles that tightly that integrates a carrier’s new business applications and enable straight through processing with minimum manual operations and hand offs.Infosys’s integrated approach to u nderwriting address various shortcomings of current state 1. Capturing and converting content to electronic form 2. Integrated workflow management 3. Integrated data exchange with common user interface 4. Business rules engines and analytics for better risk profiling BENEFITS OF THE NEW APPROACH 1. Profitable growth 2. Operational efficiency 3. Underwriting effectiveness 4. Employee and channel productivity