Wipro has given a flat outlook for the next quarter and missed analyst estimates for the quarter that went by. It is in the process of reorganising its internal business.
Mr T.K. Kurien, Wipro Executive Director and Chief Executive Officer for the IT Business, feels that the company has its strategy right and can capture lost glory in the coming quarters.
Your forecast is flat. Do you see concerns in the global economic climate or does it have to do with company-specific issues?
Firstly, the outsourcing industry is increasingly getting commoditised. We did not see anything different in terms of project ramp downs (unlike our competitors) towards the end of this quarter. Global demand has changed. No longer is it about waiting for a multi-million dollar deal to fall into your lap.
Companies have to be proactive about bagging deals.
We now have seven relationships with $100 million which is more than the last fiscal. Having said that there is some softness in the US and Europe.
However, in the first quarter (ending June 2012), we will close a lot more deals.
But this positiveness is not built in the forecast.
Closures on proactive deals have not happened. But going ahead we will see those deals, which have been built into our conservative guidance. We have a robust pipeline of deals going ahead.
What are the areas that you are looking for growth going ahead?
As I mentioned before, offshoring is getting to be a commodity business. You need to have differentiated offerings to go upfront to the consumer.
We will drive this through our focus on analytics, big data, cloud and mobility.
In analytics, we have 35 new customers and a 5 per cent growth.
Similarly, we completed 40 different projects on the cloud in the last quarter alone.
You have had a lot of internal management restructuring in terms of new business heads etc. How much more needs to be done?
We are done with all our restructuring internally. Unlike our competitors, we will never go back on our compensation policies.
We are striving for a cultural change within Wipro.
If you walk around the Wipro campus now, you will see a lot more smiling faces now as compared to a year back.
The right balance between employee satisfaction and tough competitiveness is what we are striving for.