MOSL: WIPRO (Neutral)- Annual Report Analysis – Simplification of the operating model
WIPRO: Annual Report Analysis – Simplification of the operating model
(WPRO IN, Mkt Cap USD40.6b, CMP INR549, TP INR500, 9% Downside, Neutral)
- WPRO appointed Mr. Thierry Delaporte as CEO in FY21 on completion of Mr. Abidali Neemuchwala’s five-year term. With the change in CEO, it also embarked on further simplification of the organization structure.
- The company has reorganized the IT Services segment from seven industry verticals to four SMUs – Americas 1, Americas 2, Europe, and APMEA. Americas 1 and 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.
- WPRO is undertaking a drastic restructuring of its business, reducing layers, and splitting the business by region. It expects this to result in a much more agile and nimble organization, which will accelerate growth.
Enhanced focus on ‘key account managers’
- WPRO has increased its focus on key account managers, which are the go to entities for clients. All other teams, including technology specialist and delivery leaders, will enable the key account managers.
- Reducing the layers between account managers and tech team will help in structuring WPRO as a sales oriented organization.
Better understanding of clients’ requirements will help the company to channel its efforts and investments towards more relevant market opportunities. This will be key to a better portfolio and in turn drive growth for the company.
Wipro is an information technology group based in India. Co. is engaged in the provision of information technology services. Co. is active as a global IT services company that provides a range of IT services, software solutions, IT consulting, business process outsourcing, or BPO, services and research and development services in the areas of hardware and software design to companies worldwide. Co. also provides outsourced research and development, infrastructure outsourcing and business consulting services. Co.operations are organized along two business segments: IT Services and IT Products.
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