{"id":9683,"date":"2018-04-24T12:45:53","date_gmt":"2018-04-24T12:45:53","guid":{"rendered":"http:\/\/dinnews.in\/?p=9683"},"modified":"2018-04-24T12:45:53","modified_gmt":"2018-04-24T12:45:53","slug":"infosys-ceo-salil-parekh-reveals-three-year-transformation-plan","status":"publish","type":"post","link":"https:\/\/dinnews.in\/?p=9683","title":{"rendered":"Infosys CEO Salil Parekh Reveals Three-Year Transformation Plan"},"content":{"rendered":"<p>Global software major\u00a0<a href=\"https:\/\/www.ndtv.com\/business\/infosys-shares-slump-rs-15-000-crore-market-value-gone-within-minutes-1838000\" target=\"_blank\" rel=\"noopener\">Infosys<\/a>\u00a0will invest more in digital technologies to drive business and look for strategic inorganic acquisitions. &#8220;As digital is not just about technologies but driving business outcomes, we will invest more in it as we are well positioned in it (digital),&#8221;\u00a0<a href=\"http:\/\/https\/\/www.ndtv.com\/business\/infosys-under-salil-parekh-looking-to-sell-vishal-sikkas-acquisitions-1837367\" target=\"_blank\" rel=\"noopener\">Infosys Chief Executive Salil Parekh<\/a>\u00a0told analysts at a meeting. Presenting the company&#8217;s strategic direction, Mr Parekh said there was tremendous loyalty and expectation from the clients on digital future.<\/p>\n<p>&#8220;As lot of core areas needed digitsation, we are working on them,&#8221; he noted.<\/p>\n<p>The company has drawn a three-year road-map to achieve its digital goals &#8211; to stabilise the company in the first year, start the momentum in the second year and accelerate where it can have more share of clients&#8217; relevance in the third year.<\/p>\n<p>Admitting that the company had built its strategy on what the clients were telling its executives, Parekh said there was a huge growth in digital, which was a disruption in the IT industry through technology.<\/p>\n<div id=\"checked\">\n<div id=\"adslotNativeVideo\" data-google-query-id=\"CIem-_b30toCFRUkjgodxmgMUQ\">\n<div><\/div>\n<div id=\"google_ads_iframe_\/1068322\/NDTV_Profit_ROS_Native_Outstream_0__container__\"><iframe id=\"google_ads_iframe_\/1068322\/NDTV_Profit_ROS_Native_Outstream_0\" title=\"3rd party ad content\" name=\"google_ads_iframe_\/1068322\/NDTV_Profit_ROS_Native_Outstream_0\" width=\"1\" height=\"1\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<p>&#8220;We are not only digitising core areas, but also combining all our services to drive business outcomes for our clients instead of merely selling technologies or services,&#8221; said Mr Parekh.<\/p>\n<p>(<a href=\"https:\/\/www.ndtv.com\/business\/new-infosys-ceo-salil-parekh-says-now-is-time-to-sacrifice-margins-for-growth-1839057\" target=\"_blank\" rel=\"noopener\">Read | Don&#8217;t Like &#8220;Second-Hand&#8221; Information: Infosys CEO On Management Style<\/a>)<\/p>\n<p><a href=\"https:\/\/www.ndtv.com\/business\/sensex-edges-higher-infosys-shares-fall-for-second-day-1838522\" target=\"_blank\" rel=\"noopener\">The Bengaluru-based company<\/a>\u00a0plans to scale its digital business, which contributed $2.8 billion in fiscal 2017-18, energise its clients&#8217; core technology landscape via artificial intelligence (AI) and automation, re-skill its techies and expand its localisation in Australia, Europe and the US.<\/p>\n<p>&#8220;Navigating Your Next&#8217; is our aspiration of how we will partner with each one of our clients&#8221;, Mr Parekh said in a statement on April 13 after declaring the company&#8217;s financial results for the last fiscal (FY 2018).<\/p>\n<p>Digital offerings contributed 25.5 per cent ($2.79 billion) to the company&#8217;s annual revenue of $10,939 million in fiscal 2017-18.<\/p>\n<p><a href=\"https:\/\/www.ndtv.com\/business\/sensex-registers-longest-rally-in-over-3-years-1838777\" target=\"_blank\" rel=\"noopener\">The company<\/a>\u00a0added 73 clients during the quarter, taking the total to 1,204 for the year from 1,191 quarter ago and 1,162 year ago.<\/p>\n<p><a href=\"http:\/\/https\/\/www.ndtv.com\/business\/infosys-ceo-salil-parekh-delivers-in-his-first-quarter-net-profit-at-rs-3-690-crore-1837261\" target=\"_blank\" rel=\"noopener\">Mr Parekh also spoke on the four pillars of the company&#8217;s new business strateg<\/a>y &#8211; scaling up of its agile businesses, which brings more relevance to the future of its clients; energising core of AI; re-skilling employees to move into data and cloud and a localisation into its markets such as the US, Europe, Australia.<\/p>\n<p>&#8220;We are ready with a digital framework for clients and have built a pentagon of five dimensions for digital business,&#8221; said Parekh.<\/p>\n<p>According to the company&#8217;s estimates, market opportunities in digital are at about $160 billion and growing at 15 per cent or more.<\/p>\n<p>&#8220;We are going to first scale our agile digital, helping our clients go on their digital journey, which is a large market,&#8221; he added.<\/p>\n<p><a href=\"https:\/\/www.ndtv.com\/business\/infosys-q4-results-infosys-forecasts-revenue-rise-by-6-to-8-flags-special-dividend-1837291\" target=\"_blank\" rel=\"noopener\">Infosys has projected a robust revenue growth<\/a>\u00a0of 9 per cent in dollar terms for the fiscal 2018-19 despite its net profit declining 28 per cent sequentially in the fourth quarter of the fiscal 2017-18.&#8221;Consolidated revenues are expected to grow 7-9 per cent in dollar terms and 8.2-10.2 per cent in rupee terms for fiscal 2018-19,&#8221; the company said on April 13 while announcing its financial results for FY2018.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>Global software major\u00a0Infosys\u00a0will invest more in digital technologies to drive business and look for strategic inorganic acquisitions. &#8220;As digital is not just about technologies but driving business outcomes, we will invest more in it as we are well positioned in it (digital),&#8221;\u00a0Infosys Chief Executive Salil Parekh\u00a0told analysts at a meeting. Presenting the company&#8217;s strategic direction, Mr Parekh said there was tremendous loyalty and expectation from the clients on digital future. &#8220;As lot of core areas needed digitsation, we are working on them,&#8221; he noted. The company has drawn a three-year&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,4],"tags":[],"_links":{"self":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/9683"}],"collection":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9683"}],"version-history":[{"count":1,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/9683\/revisions"}],"predecessor-version":[{"id":9685,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/posts\/9683\/revisions\/9685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=\/wp\/v2\/media\/9684"}],"wp:attachment":[{"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinnews.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}