Next-Gen Technologies to Lead Industry Growth: Wipro
The company will focus on building talent and simplifying its operating model to drive better customer-centricity
The IT industry's growth will largely be guided by next-generation technologies and services with areas like data, cloud, and cybersecurity expected to see huge incremental growth, Wipro CEO Theirry Delaporte said.
Wipro has also closed several acquisitions in the second half of 2020-21 across key markets like the US and Europe, which has helped the Bengaluru-based company strengthen its local presence and service offerings, he said in his note in the company's 2020-21 annual report.
"Cloud is at the centre of customer conversations, and is becoming not just the operating platform of choice but a fundamental part of digital transformation," he said.
The emergence of new work models such as work-from-anywhere or crowdsourcing has meant that cybersecurity has become a top priority for businesses, he added and noted that Wipro, for long, has been helping customers navigate the full spectrum of IT transformation.
Delaporte, who took over as the CEO in July last year, said the company is building a "bolder tomorrow" through a five-point strategy.
This includes accelerating growth by prioritising the sectors and markets the company operates in, strengthening clients and partnerships by investing in good talent, and leading with business solutions that enhance its portfolio.
The company will also focus on building talent at scale and simplifying its operating model to drive better customer-centricity and agility as part of this strategy.
Delaporte noted that mergers and acquisitions have been an integral part of the company's business strategy.
"In the second half of the financial year, we closed several acquisitions across several key markets, including the US, Europe, LATAM (Latin America), Australia, and India. These acquisitions have strengthened our local presence, and service offerings," he said.
The top executive added that the company's largest-ever acquisition, Capco, for $1.45 billion is one that significantly strengthens its position in the global financial services market.
The acquisition, announced in March this year, also allows Wipro to onboard some exceptional domain experts and talent in that space, he added.
“Such talent, along with the new cadre of leadership that has joined the existing executive team, brings to Wipro the kind of leadership that is not typical for our industry historically. We will continue to build on this by recruiting local talent that is diverse in every way," he added.
According to Wipro, the acquisition will strengthen its position as a consulting and IT services provider to the Banking, Financial Services, and Insurance (BFSI) sector, provide access to marquee BFSI clients and create a large global financial services practice for the company with a strong consulting footprint.