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Birlasoft
Indian multinational technology company From Wikipedia, the free encyclopedia
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Birlasoft is an Indian multinational information technology services and consulting company, founded in 1990 and headquartered in Pune, India. It is a part of the CKA Birla Group.[3]
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It operates across a variety of sectors, including manufacturing, life sciences, energy, utilities, banking, financial services, and insurance.[3][4] Birlasoft has a presence in the United States, United Kingdom, Europe, and the Asia-Pacific region and delivery centers in India.[5]
The company's shares are listed on the Bombay Stock Exchange and the National Stock Exchange of India. As of April 2024, Birlasoft's market capitalization was approximately ₹20,000 crore.[6]
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History
Summarize
Perspective
Birlasoft was founded in 1990.[3] The company was launched in New Jersey in 1992 with initial equity investment from GE Capital. At that time, Birlasoft's revenue was $0.3 million. By the fiscal year 2002-2003, the company had grown significantly, reporting $73 million in revenue and employing approximately 1,500 people, with offices in the United States, Europe, Australia, the Middle East, the United Kingdom, Singapore, and India.[5] In 2003, GE Capital held a 20% equity stake in the company.[7]
In 2000, Birlasoft partnered with BEA Systems to offer e-commerce services using BEA's Weblogic products.[8] Later that year, it also established a partnership with iPlanet, a Sun-Netscape alliance, to deliver implementation services for iPlanet's B2B e-commerce software.[9] In 2001, Birlasoft secured a contract from the Ministry of External Affairs of India to computerize Indian consulates in New York and Dubai, with an extension to 38 other consulates worldwide.[10]
In 2002, NASSCOM listed Birlasoft among the top 20 software exporters in India for the fiscal year 2001-02.[11] By 2004, Birlasoft was ranked 15th among software exporters in India, reporting export earnings of $73.4 million.[12] In April 2004, the company achieved a Level 5 maturity in CMMI Continuous Representation - SW version 1.1 from the Software Engineering Institute, becoming the first Indian IT company to attain this level.[13]
In December 2005, Birlasoft acquired Portfolio Insight, a real-time loan pricing and portfolio management software, from Sydney-based Fusion Technology Group.[14] The company launched Birlasoft Advisior+ in the Asia-Pacific market in 2006, providing tools for investment advisors and financial institutions for portfolio management and analytics.[15]
In January 2014, Birlasoft acquired US-based CRM software provider EnablePath for an undisclosed sum to support its transition to a business process model and enhance outcomes through cloud, analytics, and mobility.[16]
In 2019, Birlasoft and KPIT Technologies underwent a strategic merger and demerger, leading to the creation of two distinct publicly traded companies. The restructuring was undertaken to enhance specialization and growth, with Birlasoft concentrating on business IT services and KPIT Technologies focusing on automotive embedded software.[17][18]
In August 2020, Birlasoft entered into a cloud collaboration with Microsoft to support enterprise clients with cloud transformation, including infrastructure and business applications. The company has been a Microsoft Gold partner since 2010.[19] Following this strategic alliance, Birlasoft developed a $100 million revenue practice related to Microsoft Azure within two years.[3] In December 2020, Acacia II Partners LP sold over 6.7 million shares of Birlasoft Ltd worth approximately ₹137 crore through an open market transaction.[20] The company entered a partnership with Google Cloud in June 2022 to assist enterprises in implementing cloud technologies across sectors such as manufacturing, life sciences, BFSI, and energy utilities.[21]
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CSR
Birlasoft is involved in various CSR activities focusing on education, healthcare, and sustainability.[22]
In September 2017, the company launched Project Shodhan, a crop residue management program aimed at addressing stubble burning and reducing air pollution in the states of Punjab and Haryana.[23] By 2019, Birlasoft, in collaboration with the Confederation of Indian Industry (CII) Foundation, expanded Project Shodhan to its third phase, targeting 13,000 acres in 20 villages across Punjab and Haryana. This phase focused on promoting sustainable straw management practices among farmers. By the end of this phase, the initiative had impacted 50 villages, covering 43,000 acres of farmland.[24] Project Shodhan was later recognized with the 2021 CSR Impact Award in the Environment category.[25]
In August 2021, Birlasoft launched the e-Vidya project to promote digital and financial literacy among women in Uttar Pradesh and Rajasthan.[26]
During the financial year 2020–2021, the company allocated ₹5.27 crore to its CSR activities, including educational programs such as e-Vidya and Disha.[22] For its CSR efforts, News18 named Birlasoft one of "The Change Makers" for 2023.[27]
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Awards and recognition
- In 2009, the International Association of Outsourcing Professionals (IAOP) named Birlasoft one of the top 10 outsourcing service providers in the Australia and New Zealand region in its "2009 Global Outsourcing 100" list.[28]
- In 2012, Birlasoft was listed as one of the top 100 outsourcing companies globally in the "2012 Global Outsourcing 100" by the International Association of Outsourcing Professionals.[29][30]
- In 2015, the company was ranked 69th in Dataquest's list of India's Top 100 IT Companies.[31]
- In 2021, Birlasoft was named Microsoft Partner of the Year in the Modernizing Applications category.[32]
- In 2024, the company was recognized as the "ESG Champions of India" by Dun & Bradstreet at the ESG Leadership Summit.[33]
- Additionally, Birlasoft received awards in the "Innovation in Life Sciences" category and the "Innovative Lockdown Management Solutions" category at the 14th[34] and 11th annual Aegis Graham Bell Awards,[35] respectively.
- In June 2024, the company was awarded for its contribution to digital transformation at the GCC Excellence Award 2024.[36]
See also
References
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