Steady revenue performance, healthy deal intake and most importantly, a people-centric approach has catapulted Coforge (formerly NIIT Technologies) on a high growth path. In FY22, the company clocked revenue growth of 38% at $840 million. From being about a $400 million firm in FY ’18, Coforge is looking to become a billion-dollar-plus IT services firm in the current fiscal year.
“We are now focused on carving an accelerated growth path to the $2-billion revenue milestone,” said Sudhir Singh, CEO and ED, Coforge, although he declined to specify the time period to achieve that landmark. The change in organisational structure and the complete recreation of the firm’s tech stack offerings have helped it drive robust, sustained, and profitable growth over the last five years.
“The company’s differentiated value proposition is driven by its strong capabilities in product engineering and digital transformation services like data analytics, cognitive, AI/ML, cloud, digital process automation, and business process management (BPM) services,” said Singh.
As a tech services firm, Coforge’s focus is on building deep, differentiated functional expertise across select verticals. Over the next few years, the company is planning to accentuate its presence in public sector, retail, hi-tech and healthcare. Creating a new technology stack is also on its radar.
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Coforge plans to focus on its primary markets of North America and Europe till it reaches the $2-billion target. As of Q1FY23, the firm generated 51.3% revenue from the Americas, 36.9% from EMEA, and 11.9% from the rest of the world.
In order to keep pace with emerging technologies, Coforge has also partnered with companies like Sysdig (unified cloud, and container security leader) and Newgen Software (a global provider of a low code digital transformation platform). The company recently launched a Centre of Excellence (CoE) on Metaverse and Web3 technologies in India, wherein it has plans to train and upskill 1000 employees.
To ensure that its employees’ skills remain relevant in the fast-changing tech world, the company offers multiple learning platforms and alliances with external enterprise learning partners like Microsoft, ESI Learning Portal, Automation Anywhere, Trailhead, Google Cloud Platform (GCP), Microsoft Learn, Udemy, Focus on Force, ServiceNow, Percipio, Globesmart, to name a few.
It has also developed an agile learning ecosystem with a robust and immersive learning space, leveraging diversified learning methodologies which include advanced content and hybrid methodology of learning.
Last year, the company clocked a total of 876,000 learning hours clocked globally via different platforms and modes, which translates to an average of 47.6 learning hours per employee