Bengaluru: As soon as Wipro announced the results for the third quarter on Wednesday, the CEO of Thierry Delaporte spoke to the Toi about how his strategy formed.
Your sequential growth in Q3 at 3% PALES before 7% infosys …
I did not compare myself with competitors.
We have grown 3%, very in line with our guide, which is 2-4%.
In the last four quarters, we have grown 28% (year-to-year).
We are a company that is growing faster in this industry.
Even organically, we have a high two-digit growth, and we will never see M & A to compensate for the lack of organic growth.
The environment demand is strong, but IT companies have main friction problems.
How do you overcome this? We see some moderation and stabilization appearing in the next few quarters.
We are far more organized now to handle this friction rate.
We have employed more employees than before.
We have added 50,000 new additions for the last five quarters, which are unique in organizational history.
We have several touch points with employees, and communicate more about culture and values.
The more we increase emotional connections, we increase their chances of being willing to stay and invest in their careers with Wipro.
You told a press conference that your victory rate has risen 300 basis points.
Can you explain it? The rate of victory is the difference between the size of the pipeline and the volume of the business you converge into victory.
If the pipe is filled with opportunities far from being closed, if they are clients you don’t know well, if they are in an area where you have limited expertise, then you know that you can’t win.
We don’t want our team to spend time winning an impossible deal.
The pipe quality is pretty good now.
The higher the level of victory, the lower the cost of winning the agreement is.
You said you have a great turnaround story in Europe …
between 2010-2020, and does not count time pandemic, there is no growth in Europe.
We really change the model, we have placed organizations in the place, the market chosen which is a priority in Europe, we have appointed the CEO in each market, senior leaders rented.
It pays off.
In Germany, we have doubled in four quarters.
Growth in southern Europe, England, Switzerland, Nordic countries are also good.
Prices for skills in demand have increased by 4% -7%.
How do clients absorb prices, and how companies like you manage pyramid talents? Most clients are less focused on prices and more focused on shipping speeds and quality.
We have been able to raise our prices in many cases for the last 2-3 quarters and I hope this trend continues.
The last fiscal, your operating margin is in the range of 19% -20%.
Has fallen to 17% -18%? There are 2% coming from acquisition fees.
We have lived in normal ribbons.
We also constantly improve our model and encourage efficiency and reinvest our talents and processes.
We have onboarded more than 70 new VPS (Vice President) over the past 12 months.
We invested $ 1 billion into the cloud, we invest in cyber security.
Clients want to speed up their digital transformation.
How do you improve technology and skills to increase speed and execution? We don’t wait for them to come up with a plan.
We are proactive.
We spend time explaining how technology can help increase growth, productivity and profitability.
Our clients throughout the industry realize it.
We are committed to the results.
Our task is to mitigate and risk from them.
Wipro’s victory rate is up, big turnaround in Europe: CEO
