ICICI Infotech achieves SEI CMM Level 5 rating

Joins elite list of software development companies around the world

Mumbai (PRWEB) September 23 2003: ICICI Infotech, a leading provider of information technology products and services has joined the elite list of organizations with the distinction of having Level 5 (Optimized Level) of the SEIs Capability Maturity Model for its offshore software development center in Mumbai.

Capability Maturity Model (CMM®) instituted by the Software Engineering Institute of Carnegie Mellon University, USA is one of the most sought-after global quality assessment in the software industry. The CMM ratings, which are awarded after exhaustive independent evaluation involving analysis and review of software development capabilities, processes and products, help buyers determine reliable and low-risk suppliers of software products and services. Fewer than 100 companies in the world have been assessed at a CMM Level 5 rating.

The assessment was conducted by a 10-member led by Mr. G.P. Rastogi of KPMG. Commenting on his experiences, Mr. G.P. Rastogi, Head of the assessment team said, ICICI Infotech is a vibrant organization with open and transparent working culture and has done good automation of processes including Defect Prevention and Technology Portals."

Highlighting the value of certification for the company, Mr. V. Srinivasan, MD and CEO, ICICI Infotech Ltd. said, This certification now puts us among the select few organizations across the globe with a high process maturity rating. It only reiterates our commitment to remain focused on the customer and to add value through faster project timelines and better quality of overall deliverables."

Adding further on this achievement, Mr. Manoj Kunkalienkar, Executive Director & President, ICICI Infotech Ltd. said, The achievement endorses our strong belief in being a process-centric organization, which enables us in consistently delivering very high quality software development services to our customers, thereby maximizing value for investment."

Speaking on the occasion Shridhar Kane, Head of Quality said, It has been a great team effort. The certification confirms the organizational commitment to process culture. We look at this as a significant milestone and the journey towards excellence will continue with initiatives like CMMI and Six Sigma for which planning has already been initiated."

About SEI-CMM

The Capability Maturity Model for Software (CMM), of Software Engineering Institute, Carnegie Melon University, Pittsburgh, PA, USA, is a framework that describes the key elements of an effective software process. The model describes an evolutionary improvement path to a mature and disciplined process, with the aim of meeting goals for cost, schedule, functionality, and quality of deliverables. The CMM is also used by organizations to plan improvements to their software process.

About ICICI Infotech Ltd.

ICICI Infotech is a leading provider of information technology products and services. It has a comprehensive set of solutions for the manufacturing, retail, distribution, contracting, banking, finance and insurance sectors.

Building on extensive domain knowledge and continuous investment in leading edge technologies, ICICI Infotech helps corporations transform their businesses through its expertise in enterprise class products, software solutions, security consulting, IT infrastructure and disaster recovery solutions.

The company's global delivery model provides for the best resources to be drawn from its vast talent pool across the globe to offer optimal solutions.

ICICI Infotech has worked with over 700 customers worldwide, including Dow Jones, GlaxoSmithKline, Panasonic, American Insurance Group, OCBC Bank, QBE Insurance and Emirates Bank. Promoted by the $22 billion NYSE-listed ICICI Bank, ICICI Infotech services customers in 30 countries and has presence across 4 continents.
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For further information, please visit www.icici-infotech.com

Disclaimer: Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows , our market preferences and our exposure to market risks as well as other risks. ICICI Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

For further information, please contact:
Aru Sayed (98200 52444) or Vivek Padiyar
Text 100, Tel: 2204 8319/ 20