Wipro Ranked Third Fastest Growing Global IT Services Brand in 2019
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, has been ranked the third fastest growing global IT services brand in 2019 in a study conducted by Brand Finance, the world’s leading brand valuation firm. Wipro is also among the top 10 most valuable brands in the global IT services sector.
According to Brand Finance’s IT Services annual report for 2019, which features 15 leading brands in the segment, Wipro has a total brand value of USD 4.002 billion, up 25% on year, emerging as one of the strongest brands in the category with an AA+ Brand rating.
Brand Finance, in their official press release noted that Wipro’s significant investments in digital transformation capabilities, niche acquisitions, and a recent brand refresh, have propelled it to the third fastest growing brand in the segment.
The report analyses the brand value and brand strength of the 5000 largest brands across 38 sectors in the world in order to arrive at a list of the world’s most valuable brands. Brand Strength is derived by benchmarking brand-related metrics against competitors. It is then used to determine an appropriate stream of forecasted brand royalties, which is discounted to a net present value, the Brand Value.
Milan Rao, President – Marketing, Innovation & Technology and Global Head – Manufacturing and Communications business, said, “We are delighted to be recognized as one of the fastest growing brands in the global IT landscape. The recognition is a testament to our rich technology heritage, sustained investments in building digital transformation capabilities, and deep domain and consulting expertise. These have helped us create lasting value and emerge as a trusted partner to our clients. As we further bolster our innovation ecosystem and capabilities for the digital era, we are confident that our brand value will go from strength and strength.”
In May 2017, Wipro unveiled a new brand identity, which reiterated its position as a trusted digital transformation partner to clients, delivering at a global scale in emerging technologies like digital, cloud, cybersecurity, hyper-automation, analytics and product engineering. With increasingly diversified capabilities across the globe, Wipro is committed to developing a global innovation ecosystem. The new brand identity underscores Wipro's philosophy of bringing together insights across industries and technologies to maximise business value for our clients.
Over the past several months, Wipro has launched a slew of campaigns - #BetheNew and Outperform. with Wipro - along with its marquee customers to showcase success stories and demonstrate how its offerings can provide clients with a competitive edge in an increasingly digitalized world.
In September 2018, the company organized the 13th edition of its annual ‘Spirit of Wipro’ Run, which saw participation from several thousands of Wipro employees, their friends and families, alumni, customers, partners and suppliers across 125 cities in 34 countries.
Last year, Wipro was recognized as a World's Most Ethical Company® by Ethisphere Institute® for the seventh consecutive year and was selected as a member of the global Dow Jones Sustainability World Index (DJSI) - 2018 for the ninth year in succession.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 170,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Forward-looking and Cautionary Statements
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 our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain 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, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We 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. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
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