Indian software major Wipro has now become much more “growth-obsessed” than before with an increasing focus on larger deals. Moreover, the company has “invested significantly” in acquisitions either for gaining market access or for acquiring new capabilities, Chairman Rishad Premji shared in his letter to the shareholders.
The software firm is also betting on hyerscaler partnerships, inorganic acquisitions, and cloud initiatives to deliver growth in the coming years. “We are much more growth-obsessed than before, and are driving deep strategic partnerships with hyperscalers and increasing our focus on large deals,” Premji told the stakeholders in the company’s FY22 annual report.
With cloud being at the core of most of their transformation initiatives with significant headroom for growth, Wipro is investing $1 billion in Wipro FullStride Cloud Services over the next few years to deliver an orchestrated transformation to accelerate client business results.
Wipro FullStride Cloud Services is a collaboration between Wipro’s chief growth office and existing global business lines to create an integrated and comprehensive cloud transformation capability for customers, partners, and cloud experts.
According to the chairman, Wipro has transformed its structure and operating model. “We have gone from being industry organised to being market-organised (supported by our global capability units). We have added new talent across the board, with particular emphasis on women leaders,” he said.
Premji added that they will continue their investments – in building capabilities and acquiring market-leading talent – in strategic growth areas such as cyber, data, AI and our engineering business.
Meanwhile, the company’s chief executive officer Thierry Delaporte also said Wipro’s robust order pipeline and record net new addition of over 45,000 employees reflect their growth strategy. “We expect technology investments to grow in the coming years as businesses continue to turn to cloud-based technologies and digital tools to enable an increasingly dispersed global workforce,” he stated in the letter.
Last month, it had come to light that Delaporte’s annual pay package increases significantly to Rs 79.8 crore in FY22 as against Rs 64.3 crore in FY21. This made him the highest-paid executive in the sector last year.
Premji’s compensation also increased 17 per cent to Rs 13.8 crore during the period.
