The challenges of tax evasion and money laundering faced by governments across the globe are presenting robust business opportunities for Wipro, whose expertise in analytics and ‘big data’ is being used to track illegal financial routing.
Talking to FE, Wipro senior vice-president (analytics and information management) KR Sanjiv said, “Governments are a big user of analytics and we are working with numerous governments across the globe.”
Without naming the governments they are engaged with, Sanjiv said Wipro’s analytics and big data expertise are used for multiple activities like tax evasion, money laundering and security.
In the case of money laundering, which can be tackled only through government-to-government cooperation, analytics are used to crunch various forms of data to pinpoint the various loopholes and route to launder the money.
Wipro’s analytics expertise is also used in some of the urban management issues like transportation. “Given the amount of data that one can access on different types of vehicular movement, we can ensure that is more analytical based for more efficiencies in the transport network,” Sanjiv said.
Analytics has emerged as one of the key new growth areas for large Indian IT companies, which fall into the realm of high-value services. Besides analytics, the other such area of high interest are cloud and mobility. According to Sanjiv, the entire landscape of analytics and big data has been changing with new users like government and social sector. Earlier, it was largely used by the corporate segment such as in financial services, retail, energy and utilities and manufacturing.
Sanjiv said that the government would be a big thrust area as the analytical segment looks to broad base itself for growth from multiple segments.
The analytics and information management segment of Wipro has an annualised revenue of around $750 million with 8,000 people on board.
According to Sanjiv, the growing usage of analytics among diverse sectors has also led them to start the concept of co-innovation along with its customers. The idea behind this concept is to work on certain core issues related to each sector and present their solutions to the customers.
“The idea is focus on things which will bring improvement in some areas like revenue and the inputs which will be provided by the customers that is why it is called co-innovation,” Sanjiv said, adding, “there is learning for both of us.”
To engage in some of these key activities, Wipro has also tied up with some of the