Expansion Plans Under New CEO
Tech Mahindra, the fifth-largest information technology (IT) services company in India, has started its consulting business arm called ‘TechM Consulting’ and a global capability centre (GCC) offering called ‘SST Next-Gen GCC Offering’. This move is part of the company’s expansion plans under its new CEO, Saurabh Joshi.
- Tech Mahindra is looking to expand its offerings to customers and grow its revenue streams under Joshi, who took over as the CEO in December 2023.
- Consulting is a key area of focus for the company, with a strong emphasis on delivering sustained success and driving business value.
- The company is also hiring talent close to client locations to augment its consulting business.
Key Highlights of TechM Consulting
Tech Mahindra’s consulting business was earlier a part of its Business Excellence (BE) division. The new arm will run horizontally across the company’s verticals, including financial services, communications, manufacturing, and healthcare.
- Consulting will be supported by the company’s service delivery, data and artificial intelligence teams.
- The arm will focus on delivering business value and driving sustained success for clients.
- Consulting will be a key area of focus for the company, with a strong emphasis on delivering sustained success and driving business value.
Accenture’s Consulting Business Model
Accenture Plc, the world’s largest IT services company by revenue, is a good example of the importance of consulting in driving revenue growth. The company gets half of its revenue from its consulting business.
“During my conversations with clients, I see a constant struggle to realise business value while managing the technology disruption. They constantly look to master the art of envisioning, responding, adapting, and maintaining change momentum. It is necessitating our clients to seek partners, who can add significant insights and capabilities to help them drive the change and deliver sustained success,” said Joshi.
Accenture’s consulting business model is a good example of the importance of consulting in driving revenue growth. The company’s consulting business is a key area of focus, with a strong emphasis on delivering sustained success and driving business value.
New GCC Model Aims for Large Deals
Less than six months after announcing a consulting unit, Tech Mahindra has flagged off a GCC offering under its ‘Strategic Solutioning and Transformation’ (SST) team called the ‘SST Next-Gen GCC Offering’. The new offering is a part of the large deals team of Tech Mahindra.
| Key Features | Description |
|---|---|
| Hub-and-Spoke Model | A hub-and-spoke model with India as a central hub, amplifying the country’s strategic importance in the global GCC ecosystem. |
| Playbook Integration | The playbook integrates industry perspectives and TechM’s proven strengths to support cross-vertical, scalable GCC engagements. |
India’s GCC Market
India has seen a significant increase in the number of global capability centres (GCCs) over the past few years. The country has 1,700 GCCs, up 32% from March 2019, according to IT industry lobby Nasscom.
- India adds a GCC every third day, with a market size of $64.6 billion in FY24.
- Nasscom estimates the number of Indian GCCs to touch 2,200 by March 2030, with a market size of $105 billion.
Conclusion
Tech Mahindra’s new consulting business and GCC offering demonstrate the company’s commitment to expansion and growth.
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