Technology major Oracle is confident of recording continuous triple digit growth for the next two to three years. The company is on track to double its customer base in India in the next three to five years, said Shailender Kumar, senior vice president and regional managing director, Oracle India and NetSuite JAPAC.
Oracle is seeing high double-digit growth across its cloud consumption and SaaS business. It’s Exadata Cloud@Customer offering has seen triple digit growth, Kumar noted. “Cloud adoption in India is not going to plateau out for at least seven - ten years. Most of the workloads across verticals of banking, telecom and public sector are yet to be migrated. I see only acceleration going further,” he told businessline.
The company’s provision of a complete open suite, including infrastructure, platform, and software as a service, has contributed to growth momentum, according to Kumar. Additionally, partner relationships with Microsoft and other players, and investments in newer technologies such as Generative AI, blockchain, and the Internet of Things (IoT) have further fueled this growth.
Global headwinds
Even as the macro headwinds effect tech budgets on a global level, tech spending in India remains robust. “We see people have been earmarking tech spends across sectors and business verticals. Technology is driving business, and embedding it into business has become important. There are no challenges as far as there is justification on ROI and efficiency gains,” Kumar said.
Oracle aims to increase its customer base in India by strengthening its customer base and adding new customers. It also vies to acquire from wallet share of other players. The company in the recent past has added Max Life Insurance, Bandhan Bank, Unico, Yubi and Apollo Health to its customer base. In tandem with this, Kumar reiterates that the company is on track to achieve its aim of doubling its customer base in the next three to five years.
Kumar notes that the company will continue to focus on all sectors such as BFSI, manufacturing, public sector, SMB, fintech, and start-ups to drive growth going forward.
Operational presence
In terms of Oracle’s operational presence, it has 45,000 employees in the region and all lines of business such as shared services, support and others are represented in India. Going forward, Kumar says all the functions will be further strengthened as more products come to the market.
Commenting on the impact of Generative AI, Kumar said, “GenAI is a very important technology, and it is going to play a very important role across all businesses. Today it is still exploratory, but we are seeing some good use cases in contact centers, documentation, agreements and collection. We are already embedding AI in our applications, slowing all our applications will have AI.” The technology is providing major efficiency gains to companies and in turn resulting in cost saving, he noted.