The Economic Times daily newspaper is available online now.

    Azim Premji says disruptive tech investments are paying off

    Synopsis

    The $167-billion IT industry is seeing a shift in demand from clients across different markets as more organisations transition to digital tech-based service delivery.

    premji-bccl
    Wipro remains committed to return 45 per cent-50 per cent of its net profit to its shareholders, Premji said.
    BENGALURU: Wipro chairman Azim Premji said the company has started seeing benefits of investments in disruptive technologies and has seen successful outcomes with its clients.

    The $167-billion IT services industry is seeing a shift in demand from clients across different markets as more organisations transition to digital technology-based service delivery such as banking services on the mobile phone or chatbots to solve queries of customers.

    Elevate Your Tech Prowess with High-Value Skill Courses

    Offering CollegeCourseWebsite
    IIM KozhikodeIIMK Advanced Data Science For ManagersVisit
    IIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisit
    IIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisit
    “We at Wipro are seeing our early investments in disruptive technologies increasingly result in successful outcomes with clients and markets, which are early adopters of such new-age technologies. This journey has only just begun and we are continually calibrating and aligning ourselves to make our clients successful, and to be at the forefront of what our industry can offer,” Premji said at the company’s annual general meeting on Thursday.

    Premji said that the firm is committed to return 45– 50% of its net profits to the firm’s shareholders.

    “Having said that, the value creation of an enterprise extends beyond financial capital,” he said.

    Premji said that global economies have started seeing revival and organisations are now faster technology transformation. “Since the start of 2017, most of the large global economies have been doing better than in the past few years, while developments in technology have been gathering extraordinary pace... Organisations are becoming nimbler and are embracing technology to transform themselves, and more importantly, to transform their customer experience.

    Partnering with our clients in this transformative journey, enabled us to cross the $8-billion mark in IT services revenue during FY 2017-18,” the Wipro chairman told shareholders.

    Wipro, India’s third-largest software services exporter, said “value creation” of an enterprise goes beyond financial capital and intellectual capital is a crucial resource given the increased focus on digital. “Digital emphasises upon ‘how’ technology reaches the end customer rather than ‘which’ technology. Both enterprise mindsets and business models are undergoing a paradigm shift where the key scarce resource is no longer financial capital, but intellectual capital,” said Premji.

    In sync with the changing business demand, Wipro said till last year it has trained more than 90,000 employees in digital technologies to enhance the intellectual and human capital of society.
    ( Originally published on Jul 19, 2018 )
    The Economic Times

    Stories you might be interested in