Clients to spend more on technology this year: Premji

Global clients of software major Wipro Ltd were looking to spend more on technology this year despite volatile economic environment, said Chairman Azim Premji on Wednesday.

"Our clients are looking to spend more on technology this year as technology is becoming a major differentiator," Premji told the shareholders at the company's 71st Annual General Meeting (AGM) for fiscal 2016-17 here.

Asserting that the economic prospects of the countries where the IT major exported its software services and product were better, he said global political uncertainties weighed heavy on business sentiment over the last two years, impacting the IT industry.

"Though we continue to see a volatile economic environment, the economic prospects of the main countries we export to are better," he said at the AGM, held in the company's sprawling campus here.

The pervasive change of IT business has become more evident over the year in line with the drastic change in the expectations and experiences of consumers and business models.

"And digital is the central element driving this change. We believe that IT services companies are key to deliver digital to enterprises," said Premji.

Though optimistic about the business outlook in fiscal 2017-18, he, however, admitted that the company's success would depend on its ability to redefine and align itself with the new global paradigm and the disruptive developments in the industry.

He also said that in "the light of new initiatives and the prospects of end-to-end transformation, we felt that this journey calls for a new brand identity".

The company introduced a new brand identity with a new logo in May to win over more clients.

"Our brand identity is a visual expression of what we do and mean f or our clients. It is energised by our values, which are our core and beacon, the bedrock of our culture. Our values connect and resonate with the new identity," he had said while unveiling the new logo.

The new logo, having dots in four circles, represents the way company connects with its clients in terms of technology and domain expertise, applying insights across industries and delivering end-to-end services.

"We have also invested significantly in our organic and inorganic business to transform our offerings to service the new requirements of customers," added Premji.

The company also created social, environmental, intellectual and human value by investing in employee skilling, products and services.

--IANS

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