BSE:526299 | NSE:MPHASISEQ | 58888:bfl | IND:IT Consulting & Software - Mid Cap | ISIN code:INE356A01018 | SECT:IT Software
As I reflect on the past two years of our journey together, there is much to feel good about; especially, as it relates to our competitive positioning in the market, and our above-market growth, signaling that our clients are continuing to vote for us with their business.
There are a few metrics that are noteworthy - our business in our top accounts has grown well, with good wallet share gains, repositioning of our brand as a new generation applied tech services player and most importantly, deepening of our partnerships as signified by the fact that in many cases, we have graduated to a strategic role in helping clients adopt a new business model, one that is marked by agility, customer-first approach and a deep realization that technology is ‘the business’, not just an enabler.
We made many choices over the past two years, the approach we have taken to build a Cloud Native, Cognitive First business model with investments in areas like platforms and building Intellectual Property (IP), NEXT Labs, Talent Next, as well as adopting a ‘Client-Centric’ organizational design, with a clearly defined purpose of enabling their enterprises with the ‘Driver in the Driverless Car’, continues to give me confidence that we are on the right track.
We have made investments in IP creation, such as award-winning platforms Autocode.AI, Deeplnsights™, InfraGenie™, etc. We have also launched a number of exciting initiatives around talent, including Mphasis Tech Council, Mphasis Architects Community and Academy, Geek Quotient (GQ) contests and Talent Next - our signature people development. Our investments in IP and talent have made Mphasis a destination company for top talent, especially as we have the opportunities that come with growth, and the ability to do some cutting-edge work.
We are focused on building our capabilities in these areas, as it is now clear that the need for agility, to meet their ever-increasing competitive pressures and to enable them to launch products and services quicker, is driving a very different pattern of consumption of technology.
This is leading to a rapid increase in use of As-A-Service business (_aaS), for both software and hardware assets - public cloud is a grand example of consumption on demand and the breakdown of the traditional technology market. Since our business is a reflection of the way technology is consumed by the enterprise client segment, this change has huge implications for our future, as the way services are consumed dramatically shifts, and the pace of change accelerates.
This dynamic is amplified for all our clients, creating seismic shifts in the way we have to plan, manage, run and invest in the business. And this dynamic is not limited to Mphasis alone, but is industry-wide, encompassing all forms of technology companies, not just services companies. Of course, this very disruption comes with unprecedented opportunities - as such we have to continue to invest in staying ahead of competitors in positioning ourselves as enablers of the ‘new normal’.
We have come a long way in managing this dynamic, and still have a lot farther to go as we continue to navigate the future, helping our clients make the same transition. The next phase will require a combination of skill, scale, smarts, maturity and above all, extreme nimbleness to adjust and adapt.
We used the twin themes of Consistency and Transformation as we navigated this journey over the past two years. We are happy with our execution along the 4 vectors of Growth: Consistent, Competitive, Profitable and Responsible, through the year.
I feel privileged to have the opportunity to lead this organization as we race towards taking the lead in defining this new normal.
Thank you for your support and confidence.
Chief Executive Officer & Executive Director
Date Sources:Live BSE and NSE Quotes Service: TickerPlant | Corporate Data, F&O Data & Historical price volume data: Dion Global Solutions Ltd.
BSE Quotes and Sensex are real-time and licensed from the Bombay Stock Exchange. NSE Quotes and Nifty are also real time and licenced from National Stock Exchange. All times stamps are reflecting IST (Indian Standard Time).
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service