NEW DELHI: Bengaluru-based IT major Infosys today said it has renamed its business process management subsidiary, Infosys BPO, as Infosys BPM.
In a regulatory filing, Infosys said it has received the approval of the Corporate Affairs Ministry to change its name to Infosys BPM Ltd.
"The new name is effective immediately, and will be implemented across the company's services," it added.
Infosys said the new name reflects the "paradigm shift" in the nature of services that the company now offers.
"The scope and complexity of business processing work and the expectations of clients have changed significantly over the past few years as clients expect transformative value much beyond arbitrage through outsourcing and offshoring," it said.
It added that the company is leveraging innovative technologies like robotics, artificial intelligence, machine learning, predictive analytics, rich content visualisation and mobile technologies.
"It reflects the new enhanced expectations that our clients have from us, and our end-to-end digital solutions to solve their business problems," Infosys BPM CEO and Managing Director Anantha Radhakrishnan said.
Business Process Management services accounted for 5.1 per cent of the company's revenues of Rs 17,567 crore during the quarter ended September 30, 2017.