Tata Consultancy Services (TCS) will continue to focus on non-linear growth, new Managing Director and Chief Operating Officer (CEO) N. Chandrasekaran said here on Tuesday.
Mr. Chandrasekaran replaced S. Ramadorai, who retired from his position as CEO and Managing Director of TCS after 13 years at the helm. Mr. Ramadorai will continue as non-Executive Vice-Chairman of the company.
Addressing a press conference here, Mr. Chandrasekaran said the leadership team would announce a vision statement in the next few months. “We probably will not make a statement with a particular number, but we will put out an audacious goal. It is all about setting audacious goals and going after them,” he said adding that TCS would pursue larger deals and leverage its full service offerings.
TCS had evolved a strategy in the last few years and would continue to focus on five cores — a customer centric model, creating integrated full service offerings, focussing on emerging markets, focusing on the quality of expertise given to clients and focussing on non-linear growth models. “In terms of strategy, our core strategy is working well with four of the five already proven. We will have to increase the pace of those. For non-linear growth models, we have made investments only in the last 12 months since we announced it.”
“So we will continue this strategy and will change with new opportunities and changes in the market,” said Mr. Chandrasekaran, adding that “we will practically leverage our full service offerings and go for larger deals to help the clients become more competitive and agile.”
In a tribute to the former TCS chief, S. Ramadorai, the new CEO said, “I take over at a time when Mr. Ramadorai has ensured a strong position for TCS as a $6-billion company and a global IT services powerhouse. When Mr. Ramadorai took over the company reins, the team comprised just under 6,000 people which has grown to 1.40 lakh now. Revenues over the same period have jumped from $160 million to $6 billion to make TCS the eighth largest global IT services player.”
On the industry, Mr. Chandrasekaran said it would continue to remain a fragmented industry. There were a lot of opportunities and a large organic growth potential. Emerging markets (EMs) presented huge opportunities. “There is most organic growth in EMs and in future, any acquisition for a foothold in those markets cannot be ruled out.”
He said a recovery in global industry was under way with U.S. leading the way and Europe lagging behind. “With our strong customer base, full services offering, multi-domain capability and presence across emerging markets, I believe that we are optimally positioned to take advantage of the opportunity in the global market.”