Next-gen technologies will drive company's growth: Wipro CEO1 min read . Updated: 18 Nov 2020, 10:33 PM IST
- Traditional IT services like business process outsourcing (BPO) and engineering will decline while digital portfolio like cloud hosting and migration, application development & maintenance, and DevOps will grow at a CAGR of 15-20% over 5 years
BENGALURU : Wipro Ltd’s growth in the next 5 years will be driven by next-gen technologies like 5G, robotics, and blockchain which are expected to grow at a CAGR of 35-45% between FY21-25, Thierry Delaporte, CEO & MD of Wipro said at an analyst meet on Wednesday.
Traditional IT services like business process outsourcing (BPO) and engineering will decline while digital portfolio like cloud hosting and migration, application development & maintenance, and DevOps will grow at a CAGR of 15-20% over 5 years.
Wipro will be focussing on five strategic priorities – accelerate growth, strengthen clients and partnerships, lead with business solutions, build quality talent at scale, and simplify the operating model, Delaporte said.
While Americas will continue to be an important focus area for Wipro, the company will sharpen its focus on Europe and Asia Pacific Middle East & Africa (APMEA) which is expected to contribute 58% to the incremental revenue.
Four key sectors – Banking, financial services & insurance (BFSI), retail & consumer, energy & utilities, and manufacturing are expected to contribute 56% of the incremental growth. “We will prioritize specific sectors in our chosen markets," Delaporte said.
As part of its strategy to simplify the operating model, Wipro will replace the current structure of its various strategic business units (SBUs), service lines and geographies with four strategic market units (SMUs) and two global business lines (GBLs).
The four SMUs will be Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (APMEA). The two GBLs are integrated digital, engineering & application services (iDEAS) and infrastructure cloud, digital operations, risk & cyber security services (iCORE).
As part of the new strategy, Delaporte said Wipro will be onboarding a chief growth officer who will be responsible for building a “best-in-class" sales team and lead the big deals team. Winning large transformational deals and actively developing industry-specific solutions for clients will be among the key focus areas for the company, he said.