An IT services provider in Baltimore has a bigger opportunity within the market. This is because about 70% of businesses need technology and not only that but many people right now have embraced technology in terms of money transaction, data backup, enterprise mobility suite and many more. Still having doubts? Let’s look at one of the successful IT service provider.
Wipro (WIT) is one among the best IT service provider. It is ranked along with Cognizant, Infosys, and Tata Consultancy Services. It was part of DJSI (Dow Jones Sustainability Index) for 6 consecutive years. It is based in Bangalore, India and we all know that India has the best global IT outsourcing hubs. It has been known for its marketing and digital customer experience service.
It was in between $10-$14 in 2015 trade. It has an estimated P/E (price to earnings ratio) of 19.3 in 2016. This will definitely attract investors. Last year 2015 its second quarters actually exceeded the expectation with an increase revenue of 2.1%. This year it has become the ‘one stop shop for customers in United States’ as the senior executive had predicted in 2015.
What has led to the success of Wipro? Let’s first begin by the strategic location in India, the outsource hub. It has also dealt with application development and maintenance which many business are growing towards hence giving them two thirds of their revenue. It has also been able to have a pool of customers who are US based because of the awareness spread in the country.
This is not the only strategies they have come up with but also come up with nationwide worth news strategy. I must admit it has outdone itself. It was started in 1945 but at that time it was a vegetable and refined oils manufacturer, in 2013 it demerged into a separate company which was IT service provider and by the end of 2015 it had a market capitalization of $45 billion which made it be ranked as the seventh in the IT Corporation in the world.
What has led to its success in the IT Corporation is the fact that it sees an opportunity and goes for it. In 2012 it formed a partnership with SAP Company known for its cloud based software business. It was meant to invest in marketing thus Wipro to create its own customer base.
In February this year it was able to acquire health plan services from Water Street Healthcare. The health plan service offers market leading technology to health insurance companies. Wipro acquired 100% of health plan services with a purchase of $460 million. It also has a partnership with Zafin Labs, the partnership is meant to help in growth of revenue including customer retention, product innovation.
So basically, the Wipro are more of leaders, they are tactful, timely and also have the ability to scale. The fact that they have been patient with the industry for a long period of time. They have increased the reliability and reputation within the market making them have a higher chance of success in business. It has also had a steady leadership at the top.
This is what has provided Wipro with the chance to fly and every IT service provider has the same chance provided they are ready to take risks and grab the opportunity.