April 24, 2024 20:11 (IST)
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L&T Infotech named 'Major Player' in Oil & Gas industry
Mumbai, July 24 (IBNS): L&T Infotech, a global provider of information technology services and solutions and a wholly-owned subsidiary of the USD 14.3 billion Larsen & Toubro, has been named a 'Major Player' for providing professional services to Oil & Gas industry in the IDC MarketScape report.
The ‘IDC MarketScape: Worldwide Oil and Gas Professional Services 2014 Vendor Assessment’ report dated June 2014 analyzed and evaluated 12 professional service providers on the basis of their service capabilities, solutions and geographical presence in serving the Oil & Gas industry.
The report highlights on the “pedigree that L&T Infotech has, in particular in instrumentation, engineering, and construction, (that) will become even more useful in the future in informing IT for automation and capital project management.”
It further points out on the “successful governance approach” followed by L&T Infotech, in addition to its aim to reduce professional service costs for its oil and gas clients.
"L&T Infotech has demonstrated it works well with the industry and has developed frameworks in conjunction with its clients," according to Jill Feblowitz, Vice President, IDC Energy Insights. “Of particular note are frameworks in digital oilfield readiness and petro-technical data management."
“L&T Infotech aims to reduce professional service costs for its oil and gas clients, and it shows. One customer reported a savings of 3:1 through the use of managed services," Feblowitz said.
V.K. Magapu, Managing Director, L&T Infotech, said, “Growing complexity in operations coupled with huge growth in data and analytics is transforming the Oil & Gas industry to look at digitization closely. Our solutions enable clients to have better visibility into operations for near real-time and decision-making for improved efficiency.”
The ‘IDC MarketScape: Worldwide Oil and Gas Professional Service 2014 Vendor Assessment’ report evaluates providers offering professional services to the oil and gas industry through the IDC MarketScape model.
The assessment reviews both quantitative and qualitative characteristics that define current market demands and expected buyer needs for professional services.
The evaluation is based on a comprehensive and rigorous framework that assesses how each vendor stacks up to one another, and the framework highlights the key factors that are expected to be the most significant for achieving success over the short-term and the long-term.
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