Wipro is a major business establishment in India. It deals primarily in software products and related services. It is ranked as #1102 company in 2008 Forbes Global 2000 list. It is regarded as a leading provider of integrated business process and technological solutions. Wipro Technologies has been operating on a global basis. It has been rated as largest independent provider of research and development services. It earns more than half a billion dollars through research and development services. It is also counted as being one among three leading offshore BPO services provider. Headquarters of Wipro is located at Bangalore, India.
Brief history Wipro was established in 1947. It was a vegetable oil company to start with and was created from an oil mill established by father of Azim Premji, present Chairman and CEO of Wipro. It later ventured into consumer goods in 1966 under Azim Premji's leadership as Wipro Ltd. In 1975 Wipro Fluid Power was set up to make pneumatic cylinders and hydraulic cylinders.
Products and services Wipro offers its products and services in five major categories. Under information technology services it offers products like business intelligence and information management , business process management, enterprise business integration, portals and content management, tandem nonstop application, enterprise applications services, services, enterprise security, testing services, legacy migration, service oriented architecture and quality consulting.
In product engineering solutions services section Wipro provides DSP and multimedia, semiconductor IP, engineering design services, tandem nonstop services, hardware design, technical publication, product strategy and architecture, testing, product support and Wipro Techno Centre.
In technology infrastructure services it provides services like managed services, telecom infrastructure, infrastructure consulting and integration, product support, managed security services and business service management.
Financials In 2007, Wipro earned $3.47 billion and they made profits worth $0.68 billion. Its assets were worth $3.26 billion. In 2007, market value of Wipro was around $15.87 billion.
Awards and recognition Recently Wipro won a number of prestigious awards. It won International Institute for Software Testing’s Software Testing Best Practice Award. It also won Global MAKE Award 2007 and Verizon's 2006 Supplier Excellence Award.
It has been conferred with HP’s Best Application Solution Implementation for creating world-class BTO service practices. It won Outsourcing Excellence Award along with Nortel. It is sole Indian business establishment to be present in “Champions of Innovation” list of IN25 of Business Week and has received well known 'Outsourcing Excellence' award for its BPO services.
Current financial crisis In recent times, Wipro has been facing some problems regarding its profits. Rise in profits has been below expectations. Revenue growth of Wipro has been unsatisfactory too, in October-December quarter of 2008, revenues are supposed to amount to $1.12 billion, which is just marginally more than $1.11 billion earned in quarter spanning July to September.
Official comments have injected volatility into the foreign exchange market. As we anticipated, Japanese officials pushed back against the seemingly free-fall in the yen sparked by the aggressive BOJ action and the diversification of the government pension funds. Finance Minister Aso expressed concern about the pace of the yen's decline. However, comments by Abe-adviser Hamada underscored that the direction was no objectionable and that JPY120 would be good for the Japanese economy. The dollar was pushed off a full yen to roughly JPY117.35 before finding a good bid.
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.
Vice President and Director of the Global Economy and Development Program at the Brookings Institution. Former Turkish Minister of State for Economic Affairs. Head of the United Nations Development Program (UNDP) from 2005-2009.