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Tag: Mphasis

Mphasis Gross Revenue grew 7percent YoY on a reported basis in Q2 FY25

Mumbai, 17 October 2024: Mphasis Limited, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, announced its financial results for the quarter ended 30th September 2024.

Quarter ended 30th September 2024

• Gross Revenue grew 3.1% QoQ and 7.0% YoY in Q2 FY25 on a reported basis and grew 2.4% QoQ and 5.4% YoY in Constant Currency.

• Direct revenue grew 3.2% QoQ and 7.9% YoY on a reported basis and grew 2.4% QoQ and 6.2% YoY in Constant Currency.

• New TCV wins of USD 207 million in Q2 FY25 in Direct; of which 88% in new-gen services

• Reported operating margin at 15.4%.

• Net profit grew 4.7% QoQ and 8.0% YoY to ₹ 4,233 million in Q2 FY25.

• EPS grew 4.6% QoQ and 7.7% YoY to ₹ 22.4 in Q2 FY25.

“Despite many ongoing challenges, the macro environment continues to trend in the right direction. We are witnessing increased AI adoption across clients to address enterprise challenges with higher efficiency and accuracy, beyond cost advantage. Savings led transformation TM thesis is core to all our deal archetypes and solutions, thus significantly enhancing service delivery and savings for clients”, said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.

Deal wins:

· A leading investment management company has selected Mphasis for its experience transformation program. Mphasis along with Kore.AI will be executing on this program and delivering significant savings.

· A leading retirement solutions provider has engaged Mphasis to transform its UK contact centre operations. Mphasis expects to deliver significant operational savings to the client through this program.

· Mphasis has been selected by a leading wireless network operator in the US as part of its renewed focus on cyber security and improving external reporting on cybersecurity posture and business risks. Mphasis’ empanelment and recognition as a key preferred vendor in the customer’s CISO organization puts us squarely in a new area of strategic spending and business criticality for the customer.

· A leading Insurance, Investments, and Retirement Solutions Provider has selected Mphasis to standardize and optimize its application operations, increase service availability and reliability and optimize the cost of operations. Mphasis solutions to help the customer scale up and down as needed while reducing cost and managing risk.

Awards and Recognitions:

· Mphasis recognized with ‘2024 Global DEI GOLD’ certification by Diversio.

· Mphasis recognized as second runner-up at the ‘ASSOCHAM – Best Employer for Women’ in the large category awarded at the 5th Diversity & Inclusion Excellence Awards 2024.

· Mphasis listed in the ‘100 Best Companies for Women in India in 2024’ by Avtar & Seramount; features in the Best Companies – Hall of Fame for having featured in the listing across five editions of the study.

· Mphasis LeadHER program wins Silver for ‘Best Leadership Development for Women’ at the Brandon Hall Group

HCM Excellence Awards 2024.

· Mphasis Silverline’s CalendarAnything won Demo Jam Session at the ‘2024 Southeast Dreamin’ Conference

Analyst Positioning:

· Mphasis is positioned in the Contenders Category in the IDC MarketScape: Worldwide Data Modernization Services 2024 Vendor Assessment.

· Recognized as ‘Leader’ in Everest Group’s Digital Transformation Services for Mid-market Enterprises PEAK Matrix®

Assessment 2024.

· Recognized as ‘Major Contender and Star Performer’ in Everest Group’s Open Banking IT Services PEAK Matrix®

Assessment 2024.

· Recognized as ‘Major Contender and Star Performer’ in Everest Group’s Key Verticals, Value Chain Elements, and

Nearshore Delivery Software Product Engineering Services PEAK Matrix® Assessment 2024.

· Mphasis featured in Gartner’s Market Guide for EMEA Life Insurance Policy Administration Systems (gartner.com)

· Recognized as ‘Major Contender’ in Everest Group’s Lending Services Operations PEAK Matrix® Assessment 2024

· Positioned in “Horizon 1” by HFS in HFS Horizons: The Best Service Providers for Core Banking Modernization, 2024

– HFS Research

· Mphasis featured in Gartner’s Hype Cycle for Healthcare Data, Analytics and AI, 2024 (gartner.com)

· Mphasis featured in Forrester’s The Modern Application Development Services Landscape,… | Forrester

· Recognized as ‘Major Contender and Star Performer’ in Everest Group’s Digital Workplace Services PEAK Matrix®

Assessment 2024 – North America

· Recognized as ‘Major Contender’ in Everest Group’s Application Development Services PEAK Matrix® Assessment

2024 – Focus on OutSystems

· Recognized as ‘Major Contender’ in Everest Group’s Salesforce Services PEAK Matrix® Assessment 2024

Mphasis Unveils Mphasis NeoCruxTM and Mphasis NeoZetaTM

Mumbai, July 26, 2024

Mphasis, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced the launch of Mphasis NeoCruxTM, an industry-first tool designed to improve software engineer’s productivity by streamlining the Software Development Lifecycle with the help of Generative AI (Gen AI) powered Agent Orchestrator. This is one of the first platforms in the market that provides flexibility to engineers to integrate fit-for-purpose AI Agents instead of limiting their access to one AI agent. In addition to NeoCruxTM, Mphasis also launched the only Gen AI-based Enterprise Modernization Platform in the marketplace, NeoZetaTM, that offers full transparency into the re-learning process so organizations can modernize mission-critical systems with confidence.

Mphasis

NeoCruxTM platform supports all critical resources within agile teams to deliver measurable acceleration in Idea2Launch IT Value Stream. The first release is an in-IDE assistant for software engineers, which will be followed by an AI-powered requirement engineering workbench for product owners. NeoCruxTM platform extends beyond basic agent orchestration; its enterprise edition is fuelled by powerful personalized AI assistance for engineers that learns and adapts to individual engineers’ behaviours.

Key benefits of Mphasis NeoCruxTM include:

  • Improved Developer Productivity: Mphasis NeoCruxTM has the potential to significantly improve engineers’ efficiency by offering AI assistance thus reducing time on context switching.
  • Enhance personalized experiences: The platform can boost experience for developers, quality engineers, and product owners alike.
  • Enterprise edition offers a 360 view with recommendation engine, thus accelerating Idea2Launch Velocity.

Mphasis NeoCruxTM basic edition will be available on Microsoft Visual Studio Marketplace and will provide out-of-the-box integration into GitHub Copilot.

Mphasis NeoZetaTM, is not an AI-powered code converter but an innovative platform that tackles the challenge of enterprise application modernization. The platform unleashes enterprise knowledge hidden in code and other technical artifacts and documents, offering virtually unlimited shelf-life for the software systems developed on NeoZetaTM. One of the key features of the platform is transparency: NeoZetaTM design avoids black-box conversions and with the help of open standards and knowledge graph technologies, ensures both humans and AI agents can participate in the modernization journey.

“Mphasis NeoCruxTM and NeoZetaTM are game changers for engineers and enterprises,” said Ramanathan Srikumar, Chief Solutions Officer, Mphasis. “Revolutionizing the development landscape, Mphasis NeoCruxTM bridges the gap between innovation and efficiency by seamlessly integrating essential tools and harnessing the transformative capabilities of Gen AI agents. At the same time, NeoZetaTM transforms enterprise application modernization by unlocking hidden knowledge in code, non-code artifacts like architecture documents, meeting transcripts etc. Together, these platforms empower its users to focus on innovation while enhancing personalized experiences and delivering exceptional software solutions more efficiently for enterprises.”

Key benefits of Mphasis NeoZetaTM include:

  • Reduced Modernization Costs: By leveraging enterprise knowledge, NeoZetaTM can lower the time and cost of per-line-of-code modernization by 60% or more.
  • Broad Applicability: The initial release of NeoZetaTM supports relearning from Cobol, Naturals, Java, and C++
  • Supports AI-assisted validations by SMEs at all stages of the modernization journey.

NeoZetaTM pilot programs across diverse industries (including a multi-national wealth management organization and large North American railway operator) has shown its ability to adapt to individual organization taxonomies successfully.

NeoZetaTM Re-learning Agents converse well with Mphasis NeoCruxTM forward engineering Agents to provide a complete software engineering ecosystem for knowledge-driven development. NeoZetaTM will be available on the ‘Gen AI Foundry for Financial Services,’ a collaboration between AWS and Mphasis.AI business unit.

Mphasis Javelina Chooses HPE GreenLake Cloud for Healthcare IT Transformation

Mumbai, June 11, 2024

Mphasis,, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced that it has adopted HPE GreenLake cloud with HPE Alletra Storage to accelerate IT transformation for its healthcare clients. This technology aims to accelerate the company’s cloud journey while strengthening security environment to improve healthcare operations, ensuring high performance, reliability, and scalability.

Mphasis_logo image

HPE Alletra enables enterprises to run every workload without compromise through a cloud operational experience, whether at the edge or in the cloud. HPE technologies host Mphasis’s Javelina platform, which houses provider and member data. Mphasis’ Javelina offers a comprehensive healthcare solution tailored for payer core administrative processing. This solution equips the back-office operations of healthcare payers, including health plans, self-insured third party administrators, and government programs.

HPE Alletra has helped Mphasis expand storage capacity with improved performance and enhanced flexibility in migrating customer workloads with encryption at rest, while advanced management tools have increased process efficiencies for IT and infrastructure. These tools also improve storage facility management and monitoring. Additionally, utilization insights gained from these tools support better future planning and optimization.

“Through the implementation of HPE Alletra, Mphasis has significantly enhanced its monitoring capabilities and access to critical information. This advancement empowers us to better serve our clients, fostering increased trust in us. We are genuinely enthusiastic about this partnership and collectively aim to deliver substantial business outcomes for our clients,” Elango R, President – Enterprise 5, North Americas, Mphasis

“Data growth continues to explode across industries and healthcare is no exception. The challenge for enterprises is to simplify management and scale their infrastructure to meet demand. With HPE Alletra Storage managed through the HPE GreenLake cloud, Mphasis can run their Javelina platform and business-critical workloads on-prem with cloud agility and simplicity,” said Patrick Osborne, senior vice president of product, HPE Storage.