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Adoption of emerging technologies and focus on three key verticals and geographies will drive growth for mid-cap IT service provider NIIT Technologies, said Chief Executive Officer Sudhir Singh.
“Technology has become a material differentiation,” said Singh in a telephonic interaction with BusinessLine .
Singh explained that the IT landscape is now driven by digitisation, overall automation ecosystem, cognitive technology, data and cloud. This means that enterprises have realised that it is not just enough to improve operational efficiencies but also build digital infrastructure to create auxiliary services. To keep up with this trend, NIIT Technologies have adopted the core strategy that would focus on the key verticals — banking and financial services, insurance and travel and transportation — where the company can apply emerging technologies to add value and drive growth for clients. For instance, the company is working on blockchain technology for its banking and financial services clients in the payments and capital market space.
Sudhir said that the focus will, however, be on three major geographies such as North America, Europe and Australia that account for chunk the company’s revenues.
For the quarter ended June 2018, Americas accounted for almost 50 per cent of the total revenues, followed by Europe, Middle East and Africa at 30 per cent. Singh said the geographies are big and offer headroom for growth for the company.
In line with this, the company also made significant additions at the top and these officials will be based in client locations. Singh said, “The ‘Centre of gravity’ of the leadership has been moved to the markets. The CEO operates out of Princeton, New Jersey, and most of the executive leadership is based in the markets as well.”
Apart from organic growth, the company is also looking to grow inorganically through partnerships. Under its latest strategy, a standalone business focussed on partnerships was created to look at potential collaborations in the field of digitisation, data, cloud and automation. “We are always assessing the market” and are open to acquisitions if the company finds the right partner, Singh added.
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