We want to be more aggressive on strategic mergers and acquisitions: Thierry Delaporte, CEO and MD, Wipro
From Srinath Srinivasan
Wipro’s new CEO and MD Thierry Delaporte took over amid the ongoing pandemic. With changes, the company has since announced several major deals. In an interview with Srinath Srinivasan, the CEO shares his vision for Wipro and how he wants to make the most of the market opportunities. Excerpts:
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The market expects Wipro to grow at the level of its competitors. Is this feeling reflected in the organization? How do you balance market expectations with the need to maintain the company’s culture and best practices?
Yes, the mood at Wipro is indeed spirited. A major reason for trusting the course we chose is our laser-sharp focus on simplification, customer focus and bold execution. As the world suffered from the pandemic, we went the extra mile to get our house in order and take some difficult calls that turned out to be a potential leader in 2021. At the same time, some things remain inviolable.
Wipro’s culture and values are our north star and we will not compromise on them. I have to stress here, however, that these values fit well with my goal of market-leading growth for the company. I believe growing at the expense of a company’s mandate is a wrong decision that is both unsustainable and wrong. We are preparing to capitalize on the opportunities offered, especially the growing demand for our cloud services, digital transformation services and digital operations, and we plan to win in the marketplace as we continue to be driven by our values and corporate mandate.
Your competitors have aggressively invested in digital and new platforms and products in the face of big deals to be won. What areas do you focus on and why?
Our investment plan covers a wide range of areas from sales and partnerships to skills, intellectual property rights, culture and talent. We’ve explored the market and selected the best talent in the industry. We will therefore be bringing in several high-level regional executives and global account managers. You will soon see a revitalized and diverse leadership at the top that will aid me in Wipro’s quest for new heights. We are strengthening our range of services by developing vertically managed solutions. This will be the key to being the market leader and differentiating ourselves from our competitors. We will also invest in products and platforms that will help us accelerate and uniquely position our service business. We are preparing for an ambitious endeavor to hire domain specialists. These will be people with deep technological expertise and the right attitude. We also want to be more aggressive on strategic mergers and acquisitions that can help us grow faster by giving us access to skills in new technology and newer markets. This means that we will increase our investments in startups through Wipro Ventures and gain a head start in the newer areas of technology.
How do you see the market recovery in the regions? How well is Wipro positioned to lead the industry and what are the challenges ahead?
In the course of the Covid-19 pandemic, many companies found that their business continuity plans, digital readiness, and security protocols were not effective enough. There has never been a better time to check the resilience of your company’s IT. This is good news for us. The demand environment has steadily improved over the past few months. Wipro’s order backlog for the third quarter of 2021 grew double-digit compared to the previous year. Our Q3 deal wins and the Q4 order pipeline is a mix of large and small deals that represent almost all sectors and service offerings. We see traction in all markets, but I dare say that Europe is particularly strong for us. We have closed 12 major deals with a total value of $ 1.2 billion, including our largest deal to date in continental Europe. We see an opportunity for dramatic growth ahead of us. And Wipro is well positioned to make the most of it. We have restructured and simplified our global business to deliver what our customers in the post-pandemic world need most – agility, ingenuity and digital acumen.
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