Employees' State Insurance Corporation's (ESIC) insurance portal is up and running, after Wipro managed to sort out all technical problems.
Employees' State Insurance Corporation's (ESIC) insurance portal is up and running, after Wipro managed to sort out all technical problems. Over the last couple of weeks, there have been several glitches in that online system, which has been operated by Wipro, those have been coming up prompting ESIC to express its concern and how contributions would be made before the deadline.
In an interview with CNBC-TV18’s Sunanda Jayasheelan, Anand Sankaran, senior vice president and business head of Wipro Infotech said, in the month of July, the system faced a unique technical problem. “We mobilised our technical resources from across the globe and we got to the root of the problem and now the problem is completely behind our back,” he added.
Below is the transcript of the interview. Also watch the accompanying video.
Q: First and foremost, your press release only talks about a unique technical glitch, which has shown up in your system. What exactly is the nature of that glitch?
A: The systems have been working for the last six months since January. In the month of July, we faced a unique technical problem with the insurance module where the employers come in and pay their insurance premiums, cut their challans and pay their insurance premiums. So that had a unique uncommon problem.
We mobilised our technical resources from across the globe and we got to the root of the problem and now the problem is completely behind our back. Infact the performance of the systems on Sunday, Monday and today has been much better than what it was in the past. So, I would be confident that the problems are behind our back and we have overcome the issues.
Q: While you maintained that the technical glitches are indeed behind your back, there have been reports that show that ESIC has now even offered an offline cheque payment option to it’s subscribers because we understand they feel to some extent that the problem has been resolved only temporarily. What comments can you offer on that?
A: No. Anything that happens even today in ESIC is through the systems only. There is no offline way of doing the challans. What happens is that the employers have to come to the ESIC portal, register the employees take the insurance challan and the payment is done at one of the bank branches and that is offline. That’s always been offline. So, what was their earlier, it continues to be there online. So, the insurance challans are cut from the system and not externally either manual or otherwise.
Q: We also understand that the ESIC is to take a call on the future of this project or actually do a review of this project on the 21st of July, which is the last day for online payments. What are you anticipating will come out of this meeting?
A: The systems have been working fine for the last six months. This was a technical glitch that happened. This is a very large system that we have developed for ESIC. One should say that this is the largest project that has been executed by the Government of India on the e-Governance side. These technical glitches in a system, which is as large as this, are not very uncommon. People do go through these go through these technical glitches. I think what we have managed to do is to make sure that we mobilise the resources and that the incident that came up was resolved comprehensively in a short period of time. So, I don’t foresee any issues with respect to the contract whatsoever.
Q: The glitches that the ESIC project has been facing have been resolved. What now is the future?
A: This project consists of connecting all the dispensaries and hospitals, setting up the data centres and developing free large applications. One is the insurance application. The other is the HIS application, which runs at the hospital. The third one is the ERP application, which is for their backend processes. So, all the three applications are up and running. What we will keep doing as we go along is to include more and more dispensaries and hospitals into the network.
Wipro stock price
On January 30, 2015, Wipro closed at Rs 606.30, up Rs 4.75, or 0.79 percent. The 52-week high of the share was Rs 621.50 and the 52-week low was Rs 475.35.
The company's trailing 12-month (TTM) EPS was at Rs 34.04 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 17.81. The latest book value of the company is Rs 118.91 per share. At current value, the price-to-book value of the company is 5.10.
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