Infosys' BG Srinivas Sees Prospects In The Nordiac
Infosys is seeing a chunk of its revenues coming from Europe. BG Srinivas, who was made one of the two presidents of Infosys in January with responsibility for most client-facing functions, was especially bullish about Nordic countries, comprising Denmark, Finland, Iceland, Norway and Sweden, where the company may look at acquisition.
Highlighting the growth and opportunities in Europe, a region he used to head, Srinivasan told Economic Times, in Europe as a whole the aim is to increase revenue contribution to 30% from 25% now.
In less than a decade, revenue from Europe has increased nearly tenfold to $2 billion, far higher than for the rest of Infosys, he said, talking up his ability to drive growth in key markets and industry verticals. A 15-year veteran of Infosys, he has been head of Europe since 2004, the year the company crossed the $1-billion revenue milestone. “Very few companies have created that kind of growth story in Europe. It didn’t happen because of sheer chance,” he said.
Srinivas also points out that Infosys’s next acquisition could be similar to Lodestone, a Zurich-based management consultancy firm the Indian tech major bought in 2012 for $350 million. “We may look at something like a Lodestone in Nordics,” he said in the interview.
A board member since 2011, Srinivas was made president along with UB Pravin Rao who has been given oversight of most delivery functions. Many in the industry believe that Srinivas is a strong contender to succeed SD Shibulal as the first non-founder CEO of Infosys because of his experience in winning large outsourcing contracts especially in several European countries including France and Germany.
Srinivas mentioned that one of the ways to grow Infosys revenue is to expand the company’s local presence in non-English-speaking European markets, especially the Nordics and Benelux comprising Belgium, Netherlands, Luxembourg, where it plans to appoint a regional head and local sales team over the next six months.
The company also has plans to grow sales from the products, platforms and solutions (PPS) unit to make into a separate subsidiary after shareholders approve the plan at the next annual general body meeting. “We will definitely focus on accelerating PPS growth rate far higher than rest of Infosys so its percentage contribution to Infosys will increase,” he said in the interview.
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