Bangalore : Ashok Soota-led Happiest Minds Technologies Ltd has not yet seen a decline in demand from large customers, despite global and macroeconomic concerns. The Bangalore-based company aims to increase revenue sharing from markets such as Europe and Australia, said Vice Chairman Joseph Anantaraju. In an interview, Anantharaju talked about the company’s focus areas and growth strategies. Edited excerpt:
What is your outlook for the coming quarters from a demand perspective?
We do not see any backlash from our corporate customers, but we pay attention to geopolitical and macroeconomic conditions and respond promptly as needed. We believe our customers continue to focus and invest in digital initiatives as they are needed to optimize costs, better manage inflation trends and at the same time have a positive impact on the top line. Start-ups, especially those that haven’t reached the break-even point, are paying more attention to spending, which is only part of Happiest Minds’ overall business outlook.
Are there new regions or sectors to expand functionality?
We want to increase our share of revenue in new regions such as Australia, the Middle East and Europe to achieve higher growth rates in these regions. We are investing in deepening and understanding the domain to take a more consulting approach to our customers and their business problems. From a technology perspective, we are building features and solutions in some of the emerging areas such as Metaverse and web3, and we have some potential to help build solutions around these technologies. I’m talking to a customer.
How do you plan to compete with the hyperscaler in the cloud space?
It does not conflict with the hyperscaler. In fact, we consider them important partners, especially in partnership with Microsoft Azure and Amazon Web Services (AWS) to build deep expertise in cloud platforms and allow customers to move their existing applications to the cloud for new. We are helping you build your application. Take advantage of the services of these platforms.
What is your trading pipeline and what kind of trading are you focusing on?
Our pipeline will continue to look healthy, reflecting the demand environment. One of the strategies that worked very well for us is the “land and expansion” strategy. This strategy allows you to enter large companies, solve troublesome problems, establish goodwill, digital expertise, credibility, and provide even greater opportunities. And account growth. This strategy has not only promoted brand desirability, visibility and credibility, but also increased the chances of success and increased the lifetime value of customers.
What is your M & A strategy this year?
M & A has been a key driver in enhancing capabilities in core, niche, and emerging technology areas. We continue to be actively involved with various takeover candidates, directly and through bankers / advisors. We are considering a solid acquisition that will help us address the strategic gap. Expanding a particular geographic presence, deeper subvertical capabilities, or addressing critical masses in a particular technology area. As you know, acquisitions are binary in nature. Going forward, we will continue to spend time and effort on a clear schedule with interested companies and set the big goal of completing one acquisition by the end of this year.
How do you plan to leverage your talent base in India’s Tier 2 and Tier 3 markets?
Over the last few years, we have expanded our recruitment waters, procured candidates from Tier 2 and Tier 3 cities, and expanded opportunities for young talent across the country.
