Infosys BPM introduces AI Agents to ensure better efficiency, accuracy in invoice processing
Powered by Infosys Topaz, the innovation would redefine invoice processing by moving from a human-driven, AI-supported model to an autonomous AI-first approach, said the company.
According to Infosys BPO, designed to operate autonomously, the solution leverages AI agents equipped with advanced decision-making capabilities to handle complex business scenarios with precision and speed.
Autonomous AI-first approach enables end-to-end workflow management, allowing AI agents to handle dynamic processes, adapt to changing business logic, and perform intricate tasks with minimal human oversight, claimed the company.
This solution was developed in close collaboration with Americana Restaurants, the largest out-of-home dining and quick service restaurant operator across the Middle East, North Africa, and Kazakhstan, with more than 2,600 restaurants. Building on the successful deployment of Accounts Payable on Cloud solution for Americana, Infosys BPM was now integrating Agentic AI to make their invoice processing largely autonomous, further enhancing its efficiency and accuracy, it further said.
Anantha Radhakrishnan, CEO & Managing Director, Infosys BPM, said, 'With the introduction of Agentic AI into Infosys Accounts Payable on Cloud solution, we are redefining what is possible in the finance and accounting functional domain. By integrating Infosys Topaz with a purpose-built multi-agent framework, along with Microsoft's AI stack, we've developed a solution that is autonomous by design, responsive to change, and built to evolve.''
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
9 minutes ago
- Mint
TCS layoffs: Is efficiency the new growth strategy?
On 27 June, Tata Consultancy Services (TCS) made headlines when it announced plans to cut approximately 12,000 jobs, marking the largest layoff in the software services major's history. The move sparked debate, with some industry observers interpreting it as fallout from artificial intelligence (AI), and warning of similar cuts at other major firms. However, TCS chief executive K. Krithivasan attributed the decision to skill mismatches, not AI. Days later, Infosys CEO Salil Parekh said his company remained committed to hiring 20,000 freshers in FY26. The contrasting statements suggested that the layoffs were likely tied to TCS's internal restructuring rather than indicative of an industry-wide trend. Still, the sector hasn't resolved the structural challenges that have built up over the past few years. Investor confidence in IT stocks has eroded significantly from a year ago. While major companies have delivered strong returns over five years, their stock prices have declined over the past year—falling further in 2025 and trailing the BSE Sensex's modest 3% year-to-date gain. Much of the market pessimism stems from softening demand in key Western markets, where clients are tightening budgets while AI capabilities expand. This has forced the industry to focus heavily on cost-cutting and efficiency improvements. Major IT players have dramatically reduced their workforce—TCS, Infosys, HCLTech, Wipro, and Tech Mahindra together employ 56,000 fewer people now than they did two years ago. Western pressures Some of this drive comes from the sector's peers in the West. A worldwide efficiency push has driven massive tech layoffs. According to tech companies eliminated over 80,000 positions in the first half of 2025 alone, following 152,000 cuts in 2024 and 264,000 in 2023. This restructuring wave, spearheaded by industry giants like Microsoft, Google, and Amazon, has established new investor benchmarks for operational efficiency across the sector. But Indian IT services companies face a different challenge. They can't simply slash costs as product companies do, since revenue depends on billable hours. At the same time, their enterprise clients are reportedly demanding 20-30% price cuts, citing expected AI-driven productivity. The reality is more tempered. Parekh, for instance, recently told the Times of India that AI and automation are currently yielding productivity gains of only 5–15%. This mismatch between client expectations and actual impact is prompting firms to seek savings elsewhere. Client squeeze Part of the efficiency drive is also rooted in sluggish demand. On TCS's latest earnings call, Krithivasan observed that decision-making delays and project deferrals for discretionary investments had persisted and worsened through the June quarter. Workforce reductions over the past two years have enabled TCS and other tier-I firms to sustain or enhance revenue per employee, a critical performance metric for these companies. While leading IT services companies have stagnated, growth has been driven by global capability centres (the in-house tech hubs of multinational companies) and smaller players. The number of GCCs expanded by 40% in FY24 alone. Nasscom projected earlier this year that revenues of GCCs in FY25 would roughly match IT service exports, with the total industry headcount growing by 126,000 to reach 5.8 million in FY25, up from 5.58 million in FY23. Efficiency drive In effect, IT services majors that once powered the sector's employment boom are now prioritizing profitability over headcount growth. Margins across leading firms have come under pressure, as pricing constraints and intensifying competition weigh on the sector. TCS, which has consistently reported the highest margins among peers, also made the boldest restructuring move—underscoring how central efficiency will be in the years ahead. The logic is clear: stronger margins enable more competitive pricing. In a market where demand may return but pricing remains tight, efficiency will be key to success. And as the industry transitions to output-based pricing, the most efficient firms will capture the biggest gains. But the impact goes beyond margins. The layoffs have triggered legal and social pushback. Karnataka's IT employees' union has filed an industrial dispute against TCS, alleging illegal retrenchment. The episode has also reignited long-standing debates around CEO compensation and employee protections in India's tech sector. However, there are implications beyond financial metrics. The layoffs have sparked legal and social pushback. Karnataka's IT employees union filed an industrial dispute against TCS, alleging that the company illegally retrenched people. The layoffs have also reignited debates over CEO compensation. is a database and search engine for public data.
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
HCLTech CEO Vijayakumar earns $10.85 mn in FY25; tops TCS, Infosys heads
HCLTech CEO C Vijayakumar earned $10.85 million (about ₹94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to $18.6 million (about ₹154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹26.52 crore, while Infosys CEO Salil Parekh earned Rs 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia ($6.2 million or about Rs 53.64 crore) and Tech Mahindra CEO Mohit Joshi (₹53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of $1.96 million and a performance-linked bonus of $1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at $6.96 million. An additional $0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹1,15,000 crore on March 31, 2016, to ₹4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at $18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹1,452.95 apiece on the BSE on Friday.
Mint
9 hours ago
- Mint
HCLTech CEO C Vijayakumar earns $10.85 mn in FY25; more than TCS, Infosys heads
New Delhi, Aug 2 (PTI) HCLTech CEO C Vijayakumar earned USD 10.85 million (about ₹ 94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to USD 18.6 million (about ₹ 154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹ 26.52 crore, while Infosys CEO Salil Parekh earned ₹ 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia (USD 6.2 million or about ₹ 53.64 crore) and Tech Mahindra CEO Mohit Joshi ( ₹ 53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of USD 1.96 million and a performance-linked bonus of USD 1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at USD 6.96 million. An additional USD 0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹ 1,15,000 crore on March 31, 2016, to ₹ 4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at USD 18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹ 3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹ 1,452.95 apiece on the BSE on Friday.
