Bangalore, India, Feb, 17, 2011- The secret to the beauty of a rainbow lies in the harmony of its colors. And there may be no other word than rainbow that could better describe the essence of Wipro. The sunflower, whose language of flower denotes 'adoration,' in their logo embraces 'beauty and harmony' that says much about the company's core values.
One of the top three IT service companies in India, Wipro distinguishes itself from other IT service providers that are more focused on financial services in that they have a well-balanced service range, materializing what they call a 'mix of industry verticals.' The fact that they were selected as the best performing company in 2009, when the world was staggered by the financial crisis that began in New York, is one example of their achievement through the virtue of balance.
"The ultimate goal of Wipro is to become the best IT service company," said Rajan Kohli, Chief Marketing Officer of Wipro Technologies, explaining the company's goals this year. "So we are planning to focus on six sectors, which are Energy and Utilities (E&U), Finance Solutions (FS), Media and Telecom (MT), Pharmaceutical, Healthcare, Life Sciences and Services (PHLSS), Manufacturing and Hi-tech (MH) and finally retail, consumer goods, transportation and government (RCTG). Energy and Utilities and healthcare in particular are the most rapidly growing industries," he added,
The recent arrival of the new CEO, T K Kurien, marks a new chapter for the company. Mr. Kohli said, "Under the direction of the new CEO, the company will restructure itself aligning to these six sectors and will develop technology solutions for each of them. We are looking forward to further increase customer satisfaction and market growth."
As a company with globally recognized growth rate, Wipro's competitiveness can be found in their broad range of capabilities. The company is especially competent in R&D and product engineering, and is the largest 3rd party R&D provider in the world. Moreover, Wipro boasts an unparalleled portfolio that includes BPO and infrastructure, and the talented workforce that carries out the remarkable work cannot be dismissed as well. Another factor that makes Wipro stand out from their rivals is their own specialized telecom solutions - in cooperation with telecom companies in India. Wipro has developed a plug and play telecom solution which enables telecom service providers to quickly ramp up infrastructure for growth. The company is also involved in the hardware industry such as laptops and their comprehensive knowledge of related software is significantly helping them advance in the IT services market.
Four years have passed since Wipro first entered into the Korean market. Looking back on those years, Rajat Mathur, Chief Sales and Operation Officer of APAC at Wipro Technologies, explains that the 'product engineering' in their collaboration with Korean companies including large handset providers has shown remarkable results. "Wipro is providing the Korean market with services that are focused on finance, manufacturing, technology, shipbuilding, and construction. And we are interested in building a closer relationship with Korea particularly with the respect to financial services," he said.
"The Korean market is strong in high-tech products that are widely popular around the world. So it gives us an advantage to cooperate with the Korean market and provide the services in terms of advancing to the global market. And Wipro can also help Korean products broaden its market by providing valuable software services," said Mr. Mathur.
Wipro is planning to focus their services in Korea on mobility, cloud computing, smart city, and so on. Wipro Eco-Energy Unit, in particular, is growing at a substantial rate with its excellent ability to increase energy efficiency, and the company is currently making efforts to work with telecom providers in order to provide the solutions suitable for this service.
Recently, the Korean government has made attempts to enhance IT skills of Korean labor by searching for a cooperation model with solid IT service companies in India; engineers selected by the government are now being sent to Wipro where they will spend one year for training and acquiring new knowledge and technologies. 140 engineers have already returned to Korea after the training, and currently the second class is in India while the third group is scheduled to be selected soon.
Although there are problems due to Korean market's lack of mature awareness of IT process in comparison to other global markets, he said, it is still a place with great potential if a different approach is used. They are equally using on-site and offshore services to raise the customers' understanding and satisfaction, in order to be able to respond to Korean customers' needs more quickly and accurately.
"It is the same anywhere in Asia. Problems are bound to occur, and I believe we can manage our relationship with Korea as well," Mr. Mathur said. "First, we are changing the approach to more actively engage in the local market. We have also expanded our Korean branch, where 95 percent of the employees are Korean, so that more customers learn about Wipro services. The second important thing is to improve the relationship with the Korean government. We believe it is important to set out many programs to facilitate the cooperation and help to understand the software industry as a whole."
He added that a lot has improved since the company began its operation in Korea four years ago. Given the number of Korean companies currently working in India, an increasing number of people have learned about India's industrial structure and culture, which also helps in terms of accommodating India's SW industry in Korea. The ongoing attempt for FTA also enhances such efforts.
For Wipro, Korea is the third biggest market in Asia Pacific region followed by Australia and Japan. Even though there are already a number of software firms in Korea, Wipro will further expand the Korean branch believing that the collaboration with this rapidly-growing country will result in many mutually positive effects.
Mr. Mathur noted that banking is the most promising field in the Korean market, and that particularly the insurance-related software will become something of an IT replacement. And he hopes to introduce BPO to the market as well.
One of many types of business outsourcing processes is BPO, which is most preferred by advanced companies around the world. This system manages everything from purchases to human resources and even product development, planning, operation, and monitoring; and just like many prominent global firms, Korea could also benefit from India's low cost and high quality services. With abundant knowhow from their partnership with many global companies, Wipro is looking forward to assisting in the development of Korea's industries.
Product Engineering Services are also a core strength of Wipro that now provides excellent engineering services apart from its IT solutions. The company has recently launched the Testing-as-a-Service (TaaS) portal, an exclusive service from Wipro that allows testing for all software. Normally, there are numerous tests to be completed before releasing a product, and Wipro's TaaS Portal, which can be used in diverse industries from technology to hospitality, healthcare, and travel, helps to make testing less cumbersome by providing a comprehensive range of testing services available online. With just the click of a button, TaaS acts as a virtual marketplace for potential customers to browse, request for quotes and purchase services online.
Testing can in some cases also be done remotely, which results in relatively low capital expenditure for customers and maximum utility, so it is expected to draw much attention from small and medium enterprises in Korea.
Few would hesitate to call Wipro entrepreneurial. The company is full of young and vibrant talent who are developing a sense of responsibility and independence, which accounts for the fact that 58 CEOs in India have worked in Wipro. In addition, employee welfare and development are the main priorities of this company; it received the BEST award from the American Society for Training & Development (ASTD), for six consecutive years by providing various curriculums to help their employees gain professional knowledge and understanding of the business. Such support programs have seen fruition with improvement of the business in general as well as efficiency and productivity. Certainly, we are looking forward to seeing how far Wipro will go.