Moneycontrol PRO
you are here: HomeNewsBusiness

Looking at touchless tech & cloud to drive growth after COVID-19, says Hexaware CEO

Hexaware suspended the guidance of 15-17 percent it gave at the beginning of the year as the back of COVID-19

April 30, 2020 / 01:40 PM IST
  • bselive
  • nselive
Todays L/H

Hexaware technologies will re-look its service lines to cater to the changing needs at the back of coronavirus outbreak. "This includes more focus on cloud and touchless technology," CEO R Srikrishna said.

Speaking to Moneycontrol after results announcement on April 28, Srikrishna, said that the prospect of recovery will be faster in areas such as cloud and touch-less technology. “These are not discretionary spending rather necessary for business continuity plans,” he added.

For instance, even if a flight takes off with less than half the strength, they need to invest in technology for issuing boarding passes. So investment in these technologies becomes necessary, he noted.

To cater to these changing demands, the company has reoriented itself to focus on four major areas – touchless and immersive technology, cloud, automation and anywhere employee concept, where entire lifecycle of employees is made online starting from on-boarding, evaluation and employee engagement. The company is working on these services, which will be app-based.

In terms of verticals, the company expects healthcare and retail to see faster recovery after a short-term impact at the back of the virus outbreak. “Travel and hospitality will take a while and might not even see 100 percent recovery,” he added.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

Travel accounts for about 10 percent of overall revenue. Fitness, a sub-vertical under healthcare, has also taken the worst hit. The recovery depends on how fast fitness firms can rapidly shift online. They needs to invest in delivering services digitally, Srikrishna added.

The company registered revenue of $211 million, 1.7 percent decline quarter-on-quarter, at the end of March 31, 2020. Hexaware suspended the guidance of 15-17 percent it gave at the beginning of the year as the back of COVID-19. Growth in verticals declined barring banking and financial services, which grew 1.9 percent q-o-q.

Srikrishna said, “The second quarter will be the worst. We can expect some recovery in Q3. But it would be another three to four quarters before we go back to the current levels.”

In the meantime, 99 percent of the company’s  20,000 employees are working from home. Srikrishna said that at any point in time, not more than 50 percent of the employees will work from office, at least till the vaccine is in place. “Of course this is subject client permissions and regulatory approvals,” he added.

Srikrishna said that no calls have been taken, as yet, on employee related measures such as hikes and pay cuts.
Swathi Moorthy
first published: Apr 30, 2020 09:55 am
ISO 27001 - BSI Assurance Mark