PRESS RELEASE
SITA Partners with Infosys to Transform Global Finance and Procurement
Operations; Implements Geographically Complex Oracle-Enabled Finance Program
Geneva and Bangalore - March 25, 2014: Infosys, a global leader in consulting,
technology, and outsourcing solutions announced today that it has successfully
delivered a Strategic Financial Systems (SFS) program for SITA, one of the
world's leading specialists in air transport communications and IT solutions.
The award-winning SFS program is one of the most geographically complex
ERP-enabled finance transformations ever undertaken.
Designed by Infosys and SITA's SFS program team, and enabled by Oracle
E-Business Suite 12.1, SFS can efficiently process accounting transactions for
310 legal entities worldwide operating in 125 currencies with a globally
distributed user base of 4,500 people, and support the filing of tax returns in
over 150 countries worldwide.
SITA expects the SFS program will deliver, in excess of 20 percent, direct
operational savings and efficiencies within the finance function over four
years. It has laid a strong foundation to help SITA improve the service and
business value delivered to internal customers and member shareholders
globally.
Highlights
* The SFS program, comprising a joint team of Infosys consultants and
internal SITA resources, designed and implemented the new `SFS solution,'
which has transformed SITA's finance and procurement operating model by
creating a Global Finance Center to manage their geographical complexity.
This program has delivered a standardized and fully integrated transaction
processing, reporting and analysis solution in a truly global context.
* The Infosys / SITA team simplified a complex and fragmented legacy IT
landscape by implementing a single global instance of Oracle E-Business
Suite 12.1 and integrating it with Oracle's Hyperion and Business
Intelligence solution.
* The Infosys / SITA team also deployed a new global payment platform and
enhanced treasury operations functionality to drive significant
improvements in cash management globally.
* SFS has also made business planning, budgeting, and forecasting
capabilities more efficient and helped improve resource utilization,
product and project profitability calculations. This is helping finance
teams at SITA deliver faster, more accurate and insightful analysis of
financial performance within a target five-day close window.
* SITA's purchasing team can now extend its services to its locations
globally with online procurement catalogues that aggregate and target
spending to help improve buying efficiencies, and support the efficient
processing of 10,000 accounts payable invoices a month.
* The new SFS solution has unified and dramatically simplified master data
and accounting structures for SITA, driving enhanced compliance and
internal controls, and supporting audit capabilities across the globe.
* Owned by the air transport community, SITA has around 450 members from over
300 legal entities and more than 2,800 customers across 198 countries and
territories.
Quotes
Colm O'Higgins, Chief Financial Officer, SITA:
"The transformation of finance and procurement functions and processes is one
of the key contributors to the overall transformation of SITA. The SFS program
enables our finance teams to operate with increased precision, agility and
reliability, supporting airline and airport operations in 198 countries
worldwide and delivering efficient operations to support our future success.
Infosys has been an excellent transformation partner, bringing not only deep
Oracle experience and innovative solutions, but also the necessary consulting
and execution excellence around business process, systems and data design,
organizational change management and value realization."
Prasad Thrikutam, Global Head of Energy, Communications and Services, Infosys:
"The establishment of world-class financial systems and processes will help
SITA improve its day-to-day operations and provide its management with
information to make faster and better decisions. It will help SITA deliver
tangible business value to its customers and member shareholders across the air
transport industry."
The success of this unprecedented global initiative has been recognized with
Oracle Corporation awarding SITA an `Excellence Award - Oracle Fusion
Middleware Innovation for Business Analytics' at its annual Oracle OpenWorld
conference in 2013.
Additional resources
* Infosys-Oracle practice
* Infosys Airline Transportation Services practice
* Infosys work in the airline industry
About SITA
SITA is the world's leading specialist in air transport communications and IT
solutions. SITA delivers and manages business solutions for airline, airport,
GDS, government, and other customers over the world's most extensive network,
which forms the communications backbone of the global air transport industry.
SITA is one of the world's most international companies. Its global reach is
based on local presence, with services for around 450 air transport industry
members and 2,800 customers in over 200 countries and territories. Set up in
1949 with 11 member airlines, SITA today employs people of more than 140
nationalities, speaking over 70 different languages. SITA had consolidated
revenues of US$1.57 billion in 2012.
For further information go to www.sita.aero
About Infosys
Infosys is a global leader in consulting, technology and outsourcing solutions.
We enable clients, in more than 30 countries, to stay a step ahead of emerging
business trends and outperform the competition. We help them transform and
thrive in a changing world by co-creating breakthrough solutions that combine
strategic insights and execution excellence. Visit www.infosys.com to see how
Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is
Building Tomorrow's Enterprise® today.
Safe Harbor
Certain statements in this release concerning our future growth prospects are
forward-looking statements, which involve a number of risks and uncertainties
that could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding
fluctuations in earnings, fluctuations in foreign exchange rates, our ability
to manage growth, intense competition in IT services including those factors
which may affect 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, industry segment concentration, our ability to manage our
international operations, reduced demand for technology in our key focus areas,
disruptions in telecommunication networks or system failures, our ability to
successfully complete and integrate potential acquisitions, liability for
damages on our service contracts, the success of the companies in which Infosys
has made strategic investments, withdrawal or expiration of governmental fiscal
incentives, political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized use of
our intellectual property and general economic conditions affecting our
industry. Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange Commission
filings including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2013 and on Form 6-K for the quarter ended December 31, 2013.These
filings are available at www.sec.gov. Infosys 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. The company does not undertake to update any
forward-looking statements that may be made from time to time by or on behalf
of the company unless it is required by law.
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For further information, please contact:
EMEA Asia Pacific The Americas
Paul de Lara Sukanya Ghosh Tara Kozak-Lindsay
Infosys, UK Infosys, India GolinHarris
+44 2075162748 +91 7829915577 +1-212-373-6020
Paul_deLara@infosys.com Sukanya_Ghosh02@infosys.com TKozakLindsay@golinharris.com