Wednesday, April 20, 2016

Wipro Plans Big Bets On Digital Services To Double Revenue

Bengaluru: The new boss of Indian IT services firm Wipro Ltd is betting on digital and automation services to stem a decline in market share and double revenue over the next four years.

Abidali Neemuchwala, who took over the reins at India's third-largest software services exporter in February, told a post-earnings press conference that the company plans to boost revenue to $15 billion by fiscal 2020, from $7.7 billion in the 2015-16 financial year.

The revival plan, first outlined in an internal company memo in February, comes as Wipro grapples with shrinking margins and falling profits.

The Bengaluru-based company has lagged larger domestic rivals Infosys and Tata Consultancy Services (TCS) in switching to high-margin digital services as tight competition has pressured fees for routine IT services.

Neemuchwala said initiatives to improve digital sales would include merging the company's consulting business with its digital services business and setting up new training schemes for employees.

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