Wipro Ltd. (NYSE:WIT) Q2 2021 Earnings Conference Call - Final Transcript
Oct 13, 2020 • 09:00 am ET
Thank you very much. [Operator Instructions] The first question is from the line of Ankur Rudra from JP Morgan. Please go ahead.
Thank you and congratulations on solid execution and great to see a strong guide into the December quarter. Thierry, thank you for your brief commentary on the change in or the strategic direction you highlighted. Could you perhaps elaborate on what your early thoughts are on which sectors or market where you see potential to take leadership and any thoughts on the period over which you can see this happen? Also, incrementally, on your fifth point, where do you see scope for simplification of the operating model to drive external focus and perhaps a related increase in large deal participation?
Yeah, absolutely. Thank you. Thank you for the question, Ankur. So if I look at the first one, which is really around the -- your point was on the simplification of the model and then on the market of focus -- area of focus. So if I look at the market, yes, the point here is clearly to say we are a global player, but we cannot equally focus on all markets and all sectors with, I would say, the same level of intensity because then what happens is that you are spreading the investment across a huge market and you're having a smaller impact than if you are really focusing on the ones where because of the size or because of your relative strengths, you can really have an impact.
And so let me give you few examples. So for example, my view is Wipro has a strong position in the banking and insurance sector. We are a strong player. We will continue to increase focus in this sector. Second, if I look at markets, there is no question that the U.S. market is the number one market and we're continuing to invest in this market. If I look at the European market, there is a market, German market, where we have a reasonably strong position, but where we can really go stronger if we really focus our efforts. So this is really more looking at the places where we feel we can have a true leadership position. I will give more details when we need I think at the analyst market day, but frankly, you should consider that typically sectors like banking and insurance, consumer and retail, energy and utilities, healthcare are sectors incredibly important for us and then we will define for these sectors, the markets that matter the most where we feel we can build a leadership position. So that is for the first question.
For the model itself, for the evolution of the model, one, I would tell you that there is no organization in our industry who is not exposed to the level of complexity that is driven by the size of our teams. Thousands and dozens of thousands of employees is driving complexity. I usually find beauty in simplicity and so to