In an Exclusive Interview with Mastek CFO Abhishek Singh: As Indian IT Services market grows, Mastek is poised to make the most of this opportunity with its tried and tested products that are already big in US and UK.
The Indian IT Services market is growing leaps and bounds and enterprise customers are looking for more Holistic Solutions. Consequently, Mastek is ready to grab the opportunity in a market where customers are seeking products reather than being prescribed.
Abhishek Singh, CFO, Mastek discusses the company’s prospects and future plans in an exclusive interview with DKODING Media
Q) How different is the Indian market from other major locations you are present?
A: Indian IT services market is evolving very rapidly. From being a tech laggard, its becoming a hot-bed of deploying cutting edge tech. Domestic customers in pvt sector are looking at tech and services that can give them differentiation vis-à-vis their competition. They are willing to test new-gen tech for efficiency gains. It is moving away from T&M/ Staffing approach to solutions and outcomes from its vendor partners. Demand environment is robust; GST rollout has simplified the indirect tax obligations on domestic transactions.
Q) Do you believe there is a lack of knowledge in India around such technologies? Do you have any awareness programs?
A: Customers are fairly aware. They are ‘seeking’ tech solutions as against being prescribed. Due to cost competitiveness, there are some barriers to servicing it. However, in our experience, the customer is aware as well as open to suggestions. In the spirit of partnership, at times we do suggest solutions and tech offerings to our customers. However, that doesn’t qualify for lack of knowledge!
Q) What kind of potential do you see in the Indian market? What’s your go-to market strategy? What sectors are you planning to target in near future?
A: Indian market has tremendous pent up demand both for product and services. We are approaching market with our Service Line approach; driven by solutioning capability and established credential of transforming businesses across spectrum. We are sector agnostic as ‘solutions approach’ is applicable all across. Our current pipeline has Financial Services, Manufacturing as well as Infrastructure Companies.
Q) Do you think India has a favorable business environment to grow? How has the recent ongoing slowdown affected you?
A: Indian economy has a need for player like Mastek to help it transform. Our footprint is limited which we are focused to expand. Macro environment is globally intertwined. To that extent, India will be impacted. However, with oil prices cooling down and govt intervening to kick start the economy, we have reasons to believe that demand will get accelerated.
Q) What are your thoughts on the future of the Indian IT sector and the part played by your company, Mastek?
A: Indian IT Industry is poised to play a pivotal role in this Digital Wave. With significant Millennial Population and ability to scale to cater to Digital Demand, India will be the power house both on demand and supply side. Mastek is poised to make the most of this phase with its Digital Transformation offerings that has been tested in the mature markets of the UK and USA
Q)What is your message for prospective clients?
A: Clients know it better. However, if I had to suggest, I’d say the best time is now….#Invest #Digital transformation