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Demand led by cloud remains a key tailwind for IT companies: Motilal Oswal

There is a heightened need for digital transformation across the board as enterprises move towards contactless business. This has led to a rapid adoption of digital technologies by these companies.Premium
There is a heightened need for digital transformation across the board as enterprises move towards contactless business. This has led to a rapid adoption of digital technologies by these companies.

  • According to the report, the digital transformation of companies will be driven by adoption of cloud-first solutions to create a seamless experience across public, private, and hybrid cloud, and across the PaaS, SaaS, and IaaS landscapes

BENGALURU : Demand for digital transformation led by cloud remains a key tailwind for Indian IT services companies, according to a Motilal Oswal report dated 31 May.

There is a heightened need for digital transformation across the board as enterprises move towards contactless business. This has led to a rapid adoption of digital technologies by these companies.

“These changes will be driven by adoption of cloud-first solutions to create a seamless experience across public, private, and hybrid cloud, and across the PaaS (platform-as-a-service), SaaS (software-as-a-service), and IaaS (infrastructure-as-a-service) landscapes," the report said.

Companies see this technology shift as the start of a multi-year “technology upgradation cycle", which should open up newer opportunities for technology-driven differentiation.

TCS said in its annual report that it is entering FY22 with a strong growth momentum and much better visibility of future growth than last fiscal, driven by a strong order book built up over FY21 and a robust deal pipeline.

“We see this technology shift as the start of a multi-year technology upgradation cycle in which the abundance of native capabilities will constantly expand the art of the possible, opening up newer opportunities for technology-driven differentiation," said Rajesh Gopinathan, chief executive officer and managing director (CEO&MD), TCS.

Infosys also emphasized that cloud-centric digital technologies are the key investment areas of enterprises as they are continuously reimagining their organization structures.

“There is enormous opportunity ahead of us. Technology, especially digital and cloud, continue to be at the centre of change for large enterprises globally," said Salil Parekh, CEO and MD, Infosys.

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