Source: ET Tech
Wipro is pushing tech solutions based on its intellectual property to deliver software services to its customers and tap growth opportunities in newer digital services with IP as the differentiator.
Wipro is pushing technology solutions based on its intellectual property (IP) to efficiently deliver software services to its customers and tap growth opportunities in newer digital services with IP as the differentiator.
The $8.5 billion company, which has started integrating IPs and digital technology platforms in its entire existing software service delivery, has Wipro Holmes IPs built in for 30% of the scope of work for the Alight Solutions contract, which it won in September 2018.
“For Wipro, the revenues generated by IPs are significant and going forward, we plan to grow the current base at a significant rate,” Ajay Bhaskar, vice president, strategy and IP, Wipro, said.
The Bengaluru-headquartered software services exporter continues to get a major portion of its revenue from traditional software maintenance work. During the past two years, however, Wipro has been pushing delivery managers to use its IPs and platforms to improve profitability from these services.
For instance, an IP-based platform for software application testing can automate mundane work and add value to overall service delivery.
Wipro has also integrated IPs to drive greater impact across domains and technology.
“Examples of our domain and industry IPs are Netoxygen in our Banking, Financial Services and Insurance (BFSI) business unit and Medicare Advantage in our Health Business Unit, and examples of our technology-based IP include Cyber Defense Platform and Virtuadesk,” Wipro said in its 20F filing to the US Securities and Exchange Commission.
At the same time, the company has set internal targets for revenue from these IPs independently. ET reported earlier that Wipro had set a target to achieve $150 million in IP revenue in FY19. As more IT services companies transform their delivery models, using IPs and platforms to improve efficiency of clients’ businesses is becoming a key differentiator.
