It gives me great pleasure to share with you the Annual Results of
Digital GlobalSoft Limited for the reporting period 2002-2003.
This has truly been a significant year in the IT industry, and even
more so for the Indian IT services industry. The global economy
meltdown and the aftermath of 9/11 caused enterprises around the world
to make fewer new IT investments. Instead, they were focused on return
from their previous investments. The focus for Indian IT service
companies shifted from providing 'time to market' advantage to
providing predictable cost savings over time. This re- invention of the
value proposition has enabled the sector to remain aligned with new
customer expectations in an ever-changing business environment.
Additionally, with the increasing reliability and availability of IT
infrastructure, enterprises are now more open than ever to consider
offshoring in all the critical processes of their business.
Outsourcing and offshoring have become mainstream strategies for most
I am glad to report that your Company's strategy to address new market
needs and capitalize on new opportunities has met with considerable
success. We have made significant investments in physical and IT
infrastructure, new offerings such as Security, Enterprise Help Desk,
multi-modal contact center and new quality regimen such as ITSM and Six
Sigma in anticipation of these needs. The business traction we are now
seeing as a result of these investments is exceptionally high.
Over the last few months, several global enterprises have visited our
new Digital Park Campus at Bangalore's Electronics City. I am pleased
to say that many of these visits have resulted in new business. This
includes a Network Operations Center for a Telecom major, an Enterprise
Help Desk for a global FMCG and a Remote Monitoring and Management for
a Financial Services giant. Our Contact Center, which began by
servicing the needs - of HP's commercial and retail customers, is
scaling up rapidly. The Contact Center has achieved superlative
customer satisfaction and quality scores. I truly believe that we are
in the transition phase from being an 'early mover' to playing a
leadership role in this business.
Our relationships with existing customers have deepened further over
the past year resulting in new and more significant engagement
opportunities. Additionally, you will be happy to learn that we have
added a large number of new customers during the year, leveraging the
capability created while servicing the parent HP's IT requirements.
Your Company added a total of 127 new customers over the course of the
Our multi-dimensional relationship with HP continues to be a source of
great strength to us. HP is a parent, supporter, customer and investor.
Your Company's business prospects have been buoyed by HP's increasing
focus on services as a potential high growth area and its recognition
of the India offshore story. Digital GlobalSoft is strategically
positioned to gain from the opportunity and support offered by the HP
I would be remiss if I did not mention the dedication and commitment of
our employees. As of March 31, 2003, we have 2,490 professionals at
Digital GlobalSoft, located in many locations around the world. These
have not been easy times and our GlobalSoft team has risen to the
challenge and delivered in a difficult environment. The Digital Way
is reflected every day in the words and actions of our employees. I
believe that collectively we have lived up to our motto Promise of
Trust and Passion for Delivery.
Finally, I would like to thank you, our shareholders, for your
continued support that has greatly inspired us to remain committed to
our long-term corporate objectives.
Successful service companies in the future will display agility and be
able to respond quickly to changing customer needs. Digital GlobalSoft
possesses that trait and capability. I am confident that the leadership
provided by our management team, and the continuing commitment of all
our stakeholders, will allow us to scale new heights in the coming year
and continue our tradition of outstanding performance.
Peter A. Mercury