Product and platform business is Tech Mahindra’s next big growth opportunity

Manish Vyas, President, Communications, Media & Entertainment and CEO, Network Services, Tech Mahindra.

Tech Mahindra left no stone unturned to let its investors know that the IT services firm is going big on its product and platform business opportunity, estimating a 2X or more growth in the next three years, expecting to leverage the intellectual property (IP) it created while working with customers, to clock in revenue.

CEO & MD CP Gurnani said that the product and platform business has already touched approximately $450 million in revenue and the company expects it to grow to about $1 billion in less than three years.

The IT services firm’s management was speaking at its Investor Day in Pune on March 3.

Gurnani said, “We are creating two new streams of business: products and platforms and co-creation with customers. These will be a big growth opportunity for us.”

Further, Manish Vyas, CEO of network services at Tech Mahindra laid down the company’s strategic roadmap to build on the product and platform business.

He said, “Platform going forward will be an essential element of how we will differentiate as a company across industries and lines of businesses. It is driven by the success we saw in the last 12 months. We expect the business to grow 2X or more in the next 3 years.”

“After a few years of R&D and experiments, we figured out how to build a world-class platform and what problems we want to solve,” he added.

Next month, the company will be launching Comviva 2.0 platform to bring most of its capabilities under one roof including engineering capabilities.

According to Vyas, this gives the company a huge differentiator to continue innovating on its IP that was built and gathered over 30 years of working with its customers. He said it will not only bring advantage and revenue to the company but also provide value to the same customers.

Products built so far

Tech Mahindra already has a bunch of products and platforms across levels and use cases, some of which have started seeing traction. netOps.ai, SaaS-based BSS platform BlueMarble, cognitive platform for transforming field operations Yantra.ai, integrated cloud platform Cloud BlazeTech, aftermarket platform manufacturing offering Afteaze, customer value management platform MobiLytix, cloud lending and saving platform YABX and digital payment gateway Mobiquity to name a few.