Wipro Ltd. (NYSE:WIT) Q2 2021 Earnings Conference Call - Final Transcript

Oct 13, 2020 • 09:00 am ET


Wipro Ltd. (NYSE:WIT) Q2 2021 Earnings Conference Call - Final Transcript


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Thierry Delaporte

the post-crisis world are transforming their technology stack so that it really enables them to operate with flexibility, with agility. A large portion of our customers feel the need to accelerate digital transformation to stay relevant. In fact, I haven't had one single meeting with a CXO where we did not discuss about the need to accelerate this transformation.

Digital transformation of both the front-end to gain better access to markets, to add an additional sales channel, and on the back-end also, to improve efficiency and drive cost optimization. Modernization including cloud, automation, AI is really top tech priority. There is also I feel a clear flight to safety and trust has become more critical than ever in cyber security, in data, but also in partnerships. Fewer [Phonetic], stronger partnership is what everyone is looking for.

Few examples of how we helped a customer accelerate digital transformation. So we have a business -- personal online banking customer in UAE intended to transform not only its existing products and services, but also disrupt and lead the market with new disruptive possibilities. Wipro helped the bank to transform into digital experience by deploying Digital 2.0 mobile app for retail customers. Another example, a leading multinational oil and gas company in the U.K. who partnered with Wipro on operating model transformation for cloud migration journey. The exit of America data centers helped the customer in cloud-first strategy and is the foundational core in modernization journey of going digital.

So when it comes to engagement, our customers are clear about how they want to work. They want us to be global, but they also need us to be local. While they are becoming increasingly comfortable with the virtual, the remote, and distributed work model versus physical, they also want proximity with their client partners who can then provide them the business solutions with local context and an industry expertise. We want at Wipro to be a trusted partner to our clients in their transformation journey and we want to enable them in achieving leadership position in their respective industries, which brings us to the charter or set of priorities that I have drawn or we have drawn for ourselves and I will focus on five.

First, absolute growth focus. We will continue to invest in our existing accounts, shape large transformation deals through best-in-class sales excellence and leverage our partnerships with large technologies. Second is about focus and scale. We will prioritize the markets and sectors that are relevant for us and ensure we are in a leadership position in our chosen markets. Third, in terms of offerings, we will continue to expand our presence beyond IT office, structure vertical solutions, leveraging our ecosystem of partners both the large technology players and the startups.

Fourth point is about talent. We will invest in specific capabilities such as domain expertise, digital transformation architects, large program managers, technology experts, investing talent to reinforce innovation, business understanding, technology skills. We will reinforce the high performance culture to