We will enable clients to do business better

CFO chat

The company has again projected that its revenue growth in IT services business will remain flat in the June 2011 quarter and, as a result, the stock has taken a beating.

In an interview with Deccan Herald, Wipro Executive Director & Chief Financial Officer Suresh C Senapaty, however, said he is confident that over the next 2 to 3 quarters Wipro’s new initiatives will start reaping rich dividends. 

On ‘New Wipro’ strategy

The key to our new strategy is ‘customer centricity’ where we will offer complete IT solutions to our clients. Earlier we had three access: geography (like USA, Europe), verticals (like telecom, BFSI, retail, etc) and practices (like technology infrastructure, resting, BPO, ADM, consulting etc).

Under the ‘New Wipro’ plan geography and verticals are merged to work together seamlessly and verticals will be responsible for the business. Practices will align in providing right kind of solutions and skill sets to verticals. Bottom line is we will enable clients to ‘do business better.’

On the need to change

We have to understand that technology in this world is no longer a luxury or something that only a section of the population can enjoy. It is now all pervasive and everywhere. This has impact on society as well as businesses.

They now have to rapidly redesign value chains to not only find the right customer but also to reduce consumption and dependence on these ‘resources’. We see these as great opportunities that we would never have imagined a decade ago. There are many challenges, but, we believe, we are uniquely positioned to address them.

On tangible result

We are already seeing the difference. At the end of Q4 we have three large clients with annual revenue of $100 million and above, in the Q3 we had only one. Our top ten customers gave us 20 per cent of the revenue in 2010-11. We still have a long way to go, but increased client mining (getting more revenue from top clients) by offering complete solutions is already happening.

Similarly, the non-linearity in revenue has also gone up from 8 per cent in Q4 last year to 13 per cent in Q4 this year. This shows that we are deriving much more value from our various resources and also improving margins.

On internal strategy

Our game plan is based on three pillars as follows:

*Deep customer focus to build stronger relationships based on our performance track record and the effective use of technology to provide a business edge.

*Driving domain and technology advantage to make a difference for our customers which, in turn, will help them optimise resource performance and win in their markets. We have now doubled our solution investments and linked it even more closely to our client’s need. 

*We have enhanced employee focus to provide enriching career opportunities to them. Build their soft skills along with acquiring deeper technical capability.