Parekh eyes leadership in digital space for Infy

Salil Parekh, CEO and MD of India's second largest software exporter Infosys, has laid down a three-year roadmap to achieve leadership in digital offerings.

The three-year roadmap starts with stabilising the company's current digital business in fiscal year 2019.

"In second year, we will focus on the gaining momentum and then in third year, we are planning to accelerate," Parekh, who joined the IT major earlier this year, told analysts on Monday.

Parekh, in his address to the analysts focused a lot on digital, making it clear that the company will embrace more of digital technology. "Digital has thrown up a $160 billion market opportunities for companies like us, and this space is growing at a high double digit, in the upward of 15%," Parekh said.

Although, Parekh's vision is not much of the deviation from the vision set up by the IT major's former CEO and MD Vishal Sikka, digital has been on the top of the new strategic direction, that Parekh has set for Infosys.

A focus on agile digital, reskilling employees, scaling up Infosys’ core businesses and building greater localisation in the markets that Infosys operates, are at the centre of the strategy laid down by Parekh.

As of 2017-18, over Rs 18,000 crore ($2.79 billion) of the companies' revenues, comprising 25.5% of its total revenues came from digital space. It registered Q-o-Q growth of 3.6% during the fourth quarter of the fiscal 2018.

Parekh also said that the company is focusing on enhancing digital capabilities by focusing on the "pentagon of five dimensions" -- experience, insight, innovate, accelerate and assure.

In yet another Sikka type strategy, Parekh said that the company's M&A team is actively looking for further targets across the globe to achieve a three-year roadmap.

"We want to be a strategic partner of our customer and add value to their offerings. Infosys is looking at investment opportunities in sales, human resources and localisation," he said.

Though the company has decided to sell off controversial Panaya and Skava, yet the company decided to catch on Nia platform from the Sikka era. According to Parekh, Infosys is planning to integrate Nia, its artificial intelligence platform, across the offerings.