Infosys Technologies is one of India’s leading business consulting and IT in the present times. The company has truly changed the way the world views India, paving the way for emerging consulting and IT firms in the country. Thanks to companies like Infosys, India has established itself as a global competitor and an economic giant.
Today, Infosys has acquired nearly $1 billion worth of revenue. Established in 1981, the company completed 25 glorious years in the industry on the 2nd of July, 2020. By reading about the major achievements the company has acquired over the years, one would assume that the company has had it easy. However, there’s a rather different side to this story. Let’s have a look at the inspiring journey of the multinational giant, Infosys.
How it all started-
The idea of Infosys was conceived on a fateful morning in January 1981. NR Narayana Murthy (Founder of Infosys technologies), along with six software engineers (Nandan Nilekani, N S Raghavan, S Gopalakrishnan, S D Shibulal, K Dinesh, and Ashok Arora) had a plan in mind; to launch a consulting and IT firm that would revolutionize the way Indian companies are viewed globally. About six months later, on July 2nd, 1981, Infosys was registered as a private limited company. Initially, the company was known as Infosys Consultants Pvt Ltd. The company utilized a small space in co-founder Mr. N.S Raghavan’s apartment in Matunga, which they registered as their office.
The first few years of the company were exceptionally difficult. For eight years, the company struggled to get by. The first venture that the company managed to acquire was with Kurt Salmon Associates. However, in 1989, the joint venture collapsed.
The failure of the joint venture with KSA was the first major crisis Infosys had to face. This had a huge impact on the company, bringing it on the verge of collapsing. Looking at the company’s trajectory to doom, one of the co-founders, Mr. Ashok Arora, decided to quit. Him leaving the company made the other co-founders question the competency of the company. However, Mr. Murthy was optimistic and adamant that the company is meant to achieve greater things. His belief in the company’s capability made the other 5 co-founders stay, and so began the journey of Infosys.
Mr. N.R Narayana Murthy- A man who turned it around for himself-
In the initial days, Mr. Murthy was always broke. He would always borrow money from his wife Sudha. He borrowed nearly $250 from her for the company, which he could never seem to return. For nearly three years, Mrs. Sudha maintained a record of the money that he owed her, until she got married to him in 1978.
Despite his financial situation, Mr. Murthy was extremely ambitious. He wanted to do something great in his life. Back in 1978, he was working for Patni company. But he was not happy with his job and knew that he was meant to do something greater. And so, in 1981, he along with the six co-founders came up with the idea of Infosys.
Looking at the financial difficulties Infosys had to face in the initial days, Mrs. Murthy took up a job as a systems analyst at Walchand Group of Industries to run the house.
The extremely inspiring story of Mr. Murthy shows how dedicated and passionate he was towards his company. His belief in himself and the company’s co-founders’ idea of creating something extraordinary is the reason why we have Infosys today.
At present, Mr. Murthy is the Chief Mentor and Chairman of the company, while Mr. Nandan Nilekani is the Chief Executive Officer and Managing Director. The other co-founders, Mr.Gopalakrishnan, Mr. Shibulal, and Mr. Dinesh are the directors.
In 2000, Mr.Raghavan retired as the Joint Managing Director, and now is the chairman of the Advisory Council at NS Raghavan Centre for Entrepreneurial Learning, IIM Bangalore.
Today Infosys is in the top consulting firms in the world, thanks to one idea-to revolutionize.