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BENGALURU : Bengaluru-based IT services firm Mindtree Ltd is betting on six strategic levers, apart from its 4x4x4 strategy, to accelerate revenue growth in FY23, the management said during its annual investor meet held on 23 February.
“The demand outlook for the industry continues to remain strong. It has not seen any slowdown due to the recent inflationary concerns. This, aided by the ongoing shift of spends to Cloud-based migration from legacy, will help reallocate its technology expenses," Motilal Oswal said in a note based on the investor’s meet.
Mindtree detailed its six strategic levers: (a) Build full stack accounts: Clients that were utilizing one or two services are now using multiple capabilities to get the best outcome; (b) Reimagine the ecosystem: Undertaking sell to, sell with, and sell through with hyperscalers to capture expanded spending by clients; (c) Shift from run IT to product IT ops: Digitization of processes with new models enabling detailed transformation to a product-led approach; (d) Edge to experience for industry X.0: It will offer digitization of the industry through new capabilities with the acquisition of L&T NxT; (e) Enable industry convergence: Expansion of capabilities to address increased convergence in areas adjoining to the core industry of large clients; (f) Next-gen delivery capabilities for integrated solutions: It is building supply capabilities to address next-gen demand.
Mindtree also reiterated its 4x4x4 strategy (four industry groups, four service lines, and four geographies) saying that it continues to see opportunities across industries and services. It also included the healthcare vertical as its fifth industry unit.
“Mindtree is seeing an increased trend of clients operating across industry lines and sees convergence as a key theme going forward. Travel and Hospitality vertical continues to gain from the normalization theme. It is seeing strong spend interest from clients in this vertical," Motilal Oswal said.
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