Under Kurien, Wipro steps up BFSI focus
Monday, 30th May 2011
The bread and butter sector of the Indian IT industry currently generates just 27% of Wipro�s revenues of $5.2 billion compared to 44% of TCS and 42% of Cognizant. A surprisingly strong rebound in spending by BFSI companies post the recession has now taken Cognizant very close to displacing Wipro from its No.3 position in the Indian IT landscape. In FY 11, Wipro added incremental revenues of $830 million; Cognizant, in contrast, added $1.31 billion. �The problem is with the B of BFSI,� Kurien told journalists. �We have historically not been strong there.�
Kurien has now put in place a blueprint of change where �hunting� for large deals and new opportunities will be the order of the day, where �farming� existing large accounts for more would become a priority, where building differentiated capability to displace incumbents is seriously pursued and where people would be measured on how proactive they are. The company�s popular lexicon appears to be swinging towards �speed�, �agility� and �hypergrowth�, all very reassuring vibes for the external world concerned about a decision making paralysis that may have infected the company during the previous joint-CEO regime.
Publication : Financial Express
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