Indian tech giant Wipro posted a strong revenue growth in its Q4 results ending on March 2018, with IT service revenue crossing $8 billion. Abidali Z Neemuchwala, CEO and member of the board at the IT bellwether, said in a statement, “Our investments in digital and our efforts in client mining are paying off very well. Our strong order bookings in the last two quarters provide us the right foundation to grow as we progress through the year.”
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However, industry analysts have been cautious about the Q4 financial results. That could be because Wipro posted a drop in its net profit with a marginal slide in its revenue growth for the fourth quarter of 2017-18. One of the chief reasons for the drop was the insolvency of two of its clients which affected the performance of the company as a whole.
Nonetheless, Neemuchwala is confident about the growth accrued from their digital revenue. “Digital revenue now constitutes 26.7 percent of the total revenues. In Q4, we closed our highest bookings till date on digital deals, and in the last one year, we have won almost 70 deals over $5 million,” he said.
While the CEO attributed the growth to digital technologies and broadening of capabilities in areas such as data analytics, cybersecurity operations and intelligent automation, among others, Jatin Dalal, chief financial officer noted in a statement, “We continue to make progress in our client mining, with number of clients contributing revenues over $75 million increasing from 17 to 20 during the quarter. Our investments in Wipro Holmes and our automation suite are have resulted in consistent productivity improvements. We generated robust Operating Cash Flows of ₹84 billion at 105 percent of our Net Income in FY18.”
Greatest Demand Coming From Analytics, Automation, Digital-Oriented Deals:
1) Multi-Year Deal From Global Financial Services Firm: Talking about deals, the statement reveals that the company continues its momentum in winning large deals. The financial statement reveals that Wipro has won a multi-year infrastructure transformation deal in the securities and capital markets domain from a global financial services firm.
The deal comprises of hybrid cloud management services, workplace services, cybersecurity operations, and cloud-enabled transformation; and will standardise and modernise IT operations across the client’s lines of business. In addition to leveraging Wipro’s expertise in infrastructure operations transformation, the engagement will be powered by Wipro Holmes for intelligent automation, and analytics-driven insights.
2) Multi-Year contract For German Automotive Firm For Advanced Analytics Platform: Wipro has won a multi-year contract from a leading German automotive company to transform and operate a large advanced analytics platform. The program will foster business agility and scalability for the client through transformation of enterprise operations and data-driven business insights.
How Wipro Sharpened Focus On Analytics With Data Discovery Platform
Earlier last year, Wipro announced the availability of its Data Discovery Platform (DDP) — an integrated platform that captures and manages data to generate actionable insights through advanced analytics. DDP essentially consolidates siloed data (structured, unstructured, external, internal) of an enterprise into a single integrated platform and uses agile methodology with short sprint durations to deliver quick insights. While doing this, it insulates the analytics platform from operational systems so that performance does not take a hit.
The platform leverages Microsoft’s Cortana Intelligence Suite that includes machine learning capabilities, power BI, data lake analytics and stream analytics to build analytical applications. The key differentiator of the platform is that it simplifies the process, optimises costs and transforms business. The use cases range from an Australian banking major to a leading airline operator in Middle East and a pharma major in Europe.
- What’s also interesting about it is Wipro’s strategic partnership with Microsoft to deliver analytics-as-a-service. The DDP leverages Microsoft Azure’s AI capabilities to build business specific applications.
- The company in partnership with Microsoft also launched industry specific applications through the Azure platform
- The Data Discovery Platform allows organisations to kickstart the analytics journey with value added services and bridge the insights gap insights