Pune: Mid-tier technology services firms have signed on new deals over April and May, shaking off a slump seen in March due to the Covid-19 pandemic induced lockdown in several countries. Several companies across the world temporarily halted new projects as economies went into a tailspin following the outbreak, but certain industry segments have started engaging with their IT partners to cut costs and remain relevant.
Zensar Technologies, which had a deal pipeline of $600 million at the end of March, said it had reached $1 billion by early May.
“About 70% of this is from digital deals. There will be significantly higher cloud adoption and the post Covid-19 systems of engagement will change to become more virtual,” CEO Sandeep Kishore told ET.'
Bengaluru-based Mindtree also said it was winning new deals.
“Large deal ramp-ups have been on track, and we continue to carry out transitions virtually using our robust transition methodology. New deals are majorly around offerings like client experience, data and insights and cloud adoption, with significant uptick in digital transformation,” said Dayapatra Nevatia, chief operating officer of Mindtree. There is high demand from communications, media and technology, financial services and consumer goods sectors, Mindtree said, as they increasingly adopt Cloud, workplace automation and cybersecurity.
Pareekh Jain, founder of Pareekh Jain Consulting said, “Deal signing has increased after an initial slump in March. Midsize companies are even signing large deals…Persistent, LTTS, KPIT all signed large deals in the last couple of months.” L&T Technology Services (LTTS) won a couple of deals just under $50 million from automotive and media clients, while Persistent Systems signed a similar one with a software client. KPIT Technologies said it had signed a deal valued at over $50 million with a European automaker on an electrification project. Source
Zensar Technologies, which had a deal pipeline of $600 million at the end of March, said it had reached $1 billion by early May.
“About 70% of this is from digital deals. There will be significantly higher cloud adoption and the post Covid-19 systems of engagement will change to become more virtual,” CEO Sandeep Kishore told ET.'
Bengaluru-based Mindtree also said it was winning new deals.
“Large deal ramp-ups have been on track, and we continue to carry out transitions virtually using our robust transition methodology. New deals are majorly around offerings like client experience, data and insights and cloud adoption, with significant uptick in digital transformation,” said Dayapatra Nevatia, chief operating officer of Mindtree. There is high demand from communications, media and technology, financial services and consumer goods sectors, Mindtree said, as they increasingly adopt Cloud, workplace automation and cybersecurity.
Pareekh Jain, founder of Pareekh Jain Consulting said, “Deal signing has increased after an initial slump in March. Midsize companies are even signing large deals…Persistent, LTTS, KPIT all signed large deals in the last couple of months.” L&T Technology Services (LTTS) won a couple of deals just under $50 million from automotive and media clients, while Persistent Systems signed a similar one with a software client. KPIT Technologies said it had signed a deal valued at over $50 million with a European automaker on an electrification project. Source
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