Multinational information technology firm Wipro Ltd. WIT recently inked a five-year agreement with India-based company, Jubilant FoodWorks Limited. Per the contract, Wipro will provide Jubilant FoodWorks with energy management services to help cut down on energy and operational costs. Further, this deal reflects Wipro’s sustained focus on IT firms and the consequent deal wins which have been driving growth for long.
Jubilant FoodWorks, a leading player in the Quick Service Restaurant ("QSR") industry in India, owns over 1000 restaurants along with master franchises for global food joints like Domino’s Pizza and Dunkin’ Donuts. Meanwhile, leveraging on the competence of the Service Window framework, Wipro’s EcoEnergy business introduced a multi-year Managed Restaurant Energy Services (“MRES”) program last year.
The MRES program, a three-pronged energy control strategy, has been devised to curtail energy costs in the restaurant industry. For instance, the Wipro Energy Manager (WEM) Application Suite which includes applications like Intelligent Site Automation will offer ready-to-use intelligence to crews and technicians. Similarly, the Energy Operations Center, which relies on data analytics, strives to improve critical service areas like asset performance, customer satisfaction and food storage.
Meanwhile, Jubilant FoodWorks focuses on adopting innovative technology in order to gain market traction and achieve operational excellence. The company has already rolled out Wipro’s IT offerings in 400 of its eateries and has plans in place for the rest of the restaurants as well. Wipro’s expertise in areas like predictive analytics and its hold in the IoT domain are expected to enhance Jubilee FoodWorks’ food safety and guest experience and establish it as an environment-friendly brand going forward.
Of late, Wipro has been on a winning spree, securing major deals from domestic and international customers to aid in their digital IT transformation. The major deals in the third quarter of fiscal 2016 include a multi-year global infrastructure support engagement contract from a leading medical company for the supply of hybrid cloud services. Meanwhile, an agreement has been signed with a global nutrition, health and wellness company while another has been inked with a major global retailer for the optimization of costs. We believe that the growing popularity of Wipro’s cloud-based-services, including IaaS (Infrastructure as a Service) and PaaS (Platform as a Service), will help it to fortify as well as gain market in the future.
Wipro currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Stratasys Ltd. SSYS, GTT Communications, Inc. GTT and RealPage, Inc. RP. While Stratasys sports a Zacks Rank #1 (Strong Buy), GTT Communications and RealPage hold a Zacks Rank #2 (Buy).
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