BENGALURU: Mid-tier software services firm Mindtree has outlined a 4x4x4 strategy – focus on four industries, four geographies and four service lines.
The geography focus is the same as before – North America, UK & Ireland, Continental Europe, and Asia-Pacific & rest of the world. The company said it wants to enter new markets in continental Europe, including the Nordic countries and France. For that it will scale up its near-shore centre in Poland, it said in an analyst meet on Thursday. Continental Europe provides just 7.5% of the total revenue, as per the company’s second quarter results. Mindtree signed a five-year deal with Norwegian wind turbine manufacturer, The Nordex Group, last month to simplify, modernise, and transform its entire IT landscape.
Among industries, it will focus on BFSI, travel, tourism hospitality (TTH), communication, media and technology (CTM), and retail, consumer products and manufacturing (RCM). But it said it will have some focus on the healthcare vertical too, since it sees rapid digital adoption in healthcare.
Among service lines, the focus is on customer success, data and intelligence, cloud, enterprise IT.
Mindtree said it wants to gradually ramp up managed services and the annuity business to drive stability, and it has set up a large-deal pursuit team to increase win rates in deals in the range of $50-100 million. It expects good revenue momentum in the third and fourth quarter based on the healthy deal pipeline.
“Account mining, multi-year annuity deals and targeted M&As have been restated as the key focus areas. Management has called out the industry trends of vendor consolidation and captive divestments,” ICICI Securities said in a note.