Mindtree focusses on digital biz

Bengaluru-headquartered IT services company Mindtree is betting big on digital technology to improve capabilities and increase revenues, a top executive said.

“About 36.1 per cent of our business comes from digital. We anticipate that in the next two to three years, digital technology would probably be 50 per cent of Mindtree’s revenues,” Mindtree Associate Vice President (People Function) Anish Philip told Deccan Herald at the recently held CII-Annual HR Conference.

In FY15, the company grew about 15 per cent and y-o-y growth in digital was close to 26 per cent, and for FY16 too the trend is pretty much the same.

Philip added, “Mindtree is focused on driving digital transformation for our clients across industries. We believe that over the next five years, we have a great opportunity to consistently deliver at least a double-digit dollar growth, year after year.”

“Last year, we had four acquisitions. Now, we need to integrate. We are taking bets on certain things to improve our capabilities,” Philip said.

“Basically, digital business is our core strength. One of the acquisitions is the US-based consulting service provider Magnet 360 for $50 million. The company is into salesforce, cloud-based and product technology. Our entire ecosystem is around that, and the future spends are based on our market trends,” he said.

The company also acquired Discoverture, which provides insurance solutions in the US, in January for $15 million as per reports. It also acquired UK-based Bluefin Solutions and Ohio, US-based Relational Solutions.

Mindtree, which embarked its journey in 1999, boasts of having 16,243 employees globally. In Bengaluru, over 10,000 staffers work for the company. With this acquisition, about 700 more employees would be added.

Mindtree prefers CYOD as against BYOD. Philip explained, “Many companies prefer BYOD (bring your own devices). However, we do not go for that, as there are certain compliance issues. For instance, if an employee is fired, you can’t really ask a person to return data.”

“We prefer CYOD (choose your own device). I give a limit to a certain person to buy a device. Asset still belongs to the company, but it is tagged to the individual. So, the responsibility is to come back to the organisation. We should never get into a position where integrity and data are compromised,” he said.
DH News Service