MphasiS, a mid-tier IT company, is strengthening its focus on core domains — Banking, Insurance and Capital markets — to meet customers needs, said Ganesh Ayyar, CEO.

The company has identified 15 customers around which it will focus its competence in these three domains, he said. MphasiS is present in these three verticals across five countries.

On the choice of customers, Ayyar said, “The client’s propensity to innovate and our relevance to the clients” were the main criteria.

Ayyar said that MphasiS has reorganised to deliver projects faster and reduce cost.

Ayyar said: “We have reduced the layering between me, the CEO, and the engineer who is serving the client,” he said. MphasiS has cut down the layers to seven from 11.

Also, engineers have the authority to make decisions depending on the situation. This brings down the time taken to adapt to clients’ needs.

While its competitors are acquiring companies that already have established digital platforms, Ayyar said that MphasiS, which has over $450 million, is not too keen on acquisition but concentrating on being in tune with customer needs.

Ayyar said that it is imperative to have an in-depth understanding of not just their customers but also the customer’s customers.

The results of the transformation could be measured by a strong pipeline of projects, customer base and the 45 per cent wins from newer areas, Ayyar added.

Support to in-house ideas It is also supporting innovation within the company by funding new ideas.

More support is provided if an idea is accepted as a pilot project with one of the clients. One such start-up in the company is preparing a solution in the field governance, risk management and compliance, he said.

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