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Mindtree expects digital to drive growth in FY23


Pune: Mindtree Ltd. expects digital demand to remain strong in 2022-23, as tech spending is now being driven by heads of all sections of organisations such as chief marketing, digital and data officers.


“The pandemic accelerated the overall digital foundation of the companies, which means that they are in a better position to drive some of the key transformation projects in the next fiscal,” Mindtree CEO Debashis Chatterjee told ET.

He said this is being aided by decision-making being driven not only by the chief information officers but also CXOs across functions such as marketing and technology. “This helps us in terms of having integrated capabilities across four service lines where we can work with multiple shareholders across the organisation.”

The L&T Group company reported a growth of more than 40% in its top 20 clients in the past year, and Chatterjee said that he continues to see potential to mine the top accounts and extend this strategy to the next set of 20 clients.

A few years ago, the company put in place a 4X4X4 strategy, defining the services lines and verticals it would focus on.

“The way we have designed the four service lines helps clients to do end-to-end digital transformation at scale. We have teams working on these accounts so we can cross sell and upsell. Our intention is to work with these clients across all the service lines as much as we can, so that we can improve our share of wallet within that particular client,” said Chatterjee.

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He said he expects growth from the top two to 20 accounts to continue.

When Chatterjee took charge as CEO, he had said that the company would rationalise the number of active clients it was working with. “Our strategy is to rationalise the long tail and focus on the top 80-100 accounts and cross sell and upsell to them,” he said.

Ever since, the company has rationalised about 150 clients, and will continue to do so as and when the opportunity arises, said Chatterjee. “There is no number, because this doesn’t happen every quarter. The objective is to improve and increase the revenue per client, and that is working well so far,” he said.

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