Infosys Bags Rs 14,000 Crore Contract From UK-Based NHS To Modernise Workforce Management
The solution by Infosys will support the entire employee lifecycle, from recruitment and onboarding to payroll, career progression, and retirement.
Infosys Ltd. won a 1.2 billion Euro (Rs 14,137 crore) contract from the National Health Services Business Services Authority (NHSBSA), the company said in an exchange filing on Tuesday. The 15-year contract was to deliver the Further NHS Workforce Solution.
The workforce management solution will replace the current Electronic Staff Record system and will continue to pay 1.9 million NHS employees in England and Whales over 55 billion Euro in payroll annually.
NHSBSA, an entity within the UK-based National Health Service, provides a range of critical central services to NHS organisations, NHS contractors, patients and the public.
The new NHS Workspace Solution supports the NHS 10-year-old health plan and the mission of creating a workforce that is fit for the future. This is likely to be achieved after investment in infrastructure. With intuitive, AI-driven tools, it will streamline workforce planning and enable data-driven decision-making, creating a seamless and user-friendly experience for the NHS staff.
Additionally, the solution will empower the NHS workforce to manage their personal information with ease and enable seamless integration with other systems, improving the user experience and boosting operational efficiency. The solution will support the entire employee lifecycle, from recruitment and onboarding to payroll, career progression, and retirement.
"The solution will go far beyond simply replacing ESR - it will be a strategic enabler for building a workforce that is fit for the future. By working with Infosys, we’re creating a modern, data-driven solution that will help the NHS better attract, retain and support its people," said Michael Brodie, Chief Executive, NHSBSA.
Infosys Share Price Today
The business update was shared after market hours. The stock settled 0.22% lower at Rs 1,489.90 apiece on the NSE, compared to a 0.32% advance in the benchmark Nifty 50. The shares earlier during the day rose as much as 1.42% to Rs 1,514.40 per share.
Infosys' shares have risen 23.94% in the last 12 months and 20.75% year-to-date.
Out of 51 analysts tracking the company, 36 maintain a 'buy' rating, 13 recommend a 'hold' and two suggests 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 1,705.68 implies an upside of 14.5%.
