IT company Genpact, has reported a one percent increase in revenue in Q4 at $951 million, with revenue from global clients increasing by 4 percent.
For the full year the company has beaten its guidance on revenue, reporting a 6 percent growth in constant currency terms.
For FY21 it has guided for higher revenue growth, with the upper limit of the band at 6.5 percent. However, it expects a ramp down in a large banking client to hurt growth during the period.
In terms of acquisitions, Genpact has most recently - in January 2021 - acquired data engineering and analytics firm 'Enquero' to drive its digital transformation across the enterprise, with president and CEO Tiger Tyagarajan saying that the digital transformation across industries will expand the company's total addressable market.
To discuss how COVID-19 has accelerated digital transformation & the outlook for 2021, Shereen Bhan spoke to Tiger Tyagarajan, CEO of Genpact.
Tyagarajan said, "We have seen strong inflows not just in Q4 but also in Q3 and that has led to historic high pipelines. The trends that we are seeing are reflection of change being driven by almost every enterprise across the globe, across industries and that change is around attempting to embrace digital technologies and analytical technologies to transform themselves and the way they run. While that was a change that we were all seeing in the world prior to the pandemic, the pandemic has only accelerated it, compressed timelines. We think it is going to last for quite a few years, there is lot of change that is expected, there is opportunity to drive that change, there is a lot of technology embracing and the pandemic has changed a number of paradigms."
"The deals that we signed in Q4 will start ramping up through 2021 and by the time we see the full steady state of that it will be Q4. We will hit double digit growth rate in Q4", he said.
Speaking about acquisitions he said, "It will be a continuation of our strategy of the last 5 years - 9 acquisitions all focused on digital and analytics. Couple of acquisitions are focused on deep domain but barring that almost all our acquisitions have been focused on analytics, digital and data engineering. Our continued focus would be in those areas - Cloud, data engineering, analytics, new digital technologies, we believe those continue to be the opportunities to bring those capabilities in and then scale them up with our clients."
Source: CNBC-TV18
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