Sonata Software’s stock climbed 5% to Rs 613 on October 23 after the company announced a significant multi-year managed services contract with a Fortune 500 manufacturing giant. The deal focuses on leveraging AI-driven solutions to modernize the client’s global operations and support its digital transformation initiatives. Sonata will implement a scalable operational framework that combines AI with industry best practices to enhance productivity, reduce operational costs, and provide a unified user experience.
The manufacturing company, known for its innovative packaging solutions and adherence to the principles of the circular economy, has grown rapidly through acquisitions. The partnership with Sonata Software is expected to facilitate smoother integration of these acquisitions by streamlining operational processes and deploying AI-based solutions. This includes automating workflows, improving resource management, and accelerating digital transformation to meet the company’s global expansion goals.
According to Anthony Lange, Chief Revenue Officer at Sonata Software, the company would be perfectly positioned to deliver a comprehensive Cloud and IT Service Management solution for the client. This contract is part of Sonata’s larger strategy to strengthen its position in top-of-the-pyramid sectors like Technology, Media, Telecom, Banking & Financial Services, and Healthcare. These in turn could lead to the company’s low double-digit revenue growth in FY25, say analysts, though the retail segment may be subdued in demand in the near term.
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Source: Moneycontrol
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