Wipro has adopted a two-pronged strategy in order to drive revenue growth : (1) turbocharging the core (run the business) and (2) securing the future (change the business).
Turbocharging the core will be led by driving scale in core markets of North America. The company will focus on significant quality improvement, higher usage of automation and building IP assets/capabilities to provide value.
Securing the future will be accomplished by servicing the new buyer (chief marketing officer) with a distinct agenda. Management is looking to accelerate its digital initiatives and increase focus on three new themes — (1) Internet of Things, (2) open source and (3) artificial intelligence.
Partnerships with start-ups in these focus areas will be pursued. Wipro will be creating a new organization structure in Digital Technologies for lending the desired focus.
Management highlighted global opportunity for IT services is huge. Traditional IT services present a huge opportunity with offshore-centric providers having only 14% share in the $834 bn market.
Digital technologies are likely to transform the market; Wipro is making the necessary investments to tap into this. Management expects Digital to be among the top-3 service lines in the next three years.
Hyper-automation is expected to be a key driver in reducing the cost of operations. Management expects people deployment to reduce by 35% over three years.