Investments in cyber security, education, IoT and Bioinformatics will be required for TCS to maintain its leadership position as IT services player in India, Cyrus Mistry said in a letter to shareholders on Monday.

“There were several emerging technologies in which advances were poised to alter the landscape with many real-world applications. It was important to ensure TCS explore investing sufficiently in spaces such as cyber security, Education, IOT and Bioinformatics to stay ahead of the curve and build its own IP. These I believe will be needed to ensure TCS retains its leadership position in the future,” Mistry said.

He said deep selling with existing customers has been a challenge for TCS, given reduced IT spending across the world.

“Our challenge has been to increase penetration in existing customers, at the same time defending price premiums from aggressive competition at a time where global recession was threatening IT spending by customer industries,” Mistry said.

Yet, TCS was able to increase add 20 new clients in $100 million-plus category from CY 2011 to CY 2015 while Infosys couldn’t add a single new client during the period and Wipro could add only three such clients.

Mistry praised CEO N Chandrasekaran for helping TCS stay ahead of competition over the years.

“Building the digital blue print for TCS required close coordination between Chandra, his leadership team, myself, and the Board. The transformation of a company that was already a successful market leader, called for working on mindsets and culture, in addition to the harder elements of change. A lot of work is being done to future-proof the growth and leadership position of TCS,” Mistry added.

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