Wipro bags LIC'S 5-year IT Outsourcing deal

The contract involves upgrade of LIC's front-end IT application programmes, and is said to be worth about Rs 200 crore

 

In another affirmation of its growing clout in the domestic market, Wipro Infotech, the India and Middle East information technology services business of Wipro Ltd, has clinched an IT outsourcing deal from Life Insurance Corporation (LIC) by piping its large Indian rivals.

 

The contract, which involves upgrade of LIC's front-end IT application programmes (FEAP) to make these accessible through the web, is said to be worth about Rs 200 crore, and will be done over five years, a highly-placed source said. By making applications accessible through the web, LIC expects to reduce the load on its servers and improve the processing time.

 

Sources said LIC expected to drastically reduce the cost of running the applications by making processing happen on the desktop. It is understood that most large Indian IT outsourcing companies, including TCS, Infosys and L&T Infotech, had competed for the contract. It was considered prestigious, not because of its size but because it involved a prestigious public sector organisation like LIC.

 

Source: Business Standard