Wipro Ltd Management Discussions.


Global IT service providers offer a range of end-to-end software development, digital services, IT business solutions, research and development services, technology infrastructure services, business process services, consulting and related support functions. According to the Strategic Review 2020 published by NASSCOM (the NASSCOM Report), IT export revenues from India grew by 8.1% to an estimated $147 billion in the fiscal year 2020. Indias global IT industry grew by 7.7% to reach $191 billion during the year ended March 31, 2020. According to the NASSCOM Report, Digital continues to drive growth (more than 50% of growth in fiscal year 2020) and now contributes $51 billion to the overall IT industry in India. Technologies such as industrial automation, robotics, cloud, Internet of Things (IoT), augmented reality (AR)/virtual reality  ( VR) and blockchain continues to fuel growth.

Growth in core traditional services revenues are expected to be moderate, whereas digital technology is continuing to gain prominence due to increased technology adoption by governments and businesses upgrading platforms, products and solutions to enhance the consumer experience. Big data and analytics, cloud computing, cybersecurity and advanced technologies such as artificial intelligence (AI), machine learning (ML), IoT, robotics, and 3D printing are profoundly impacting enterprise, government and end consumer segments by enabling new business opportunities across sectors.

The markets your Company serves are undergoing a massive disruption due to the outbreak of COVID-19. The situation caused by the COVID-19 pandemic continues to evolve and the effects on such markets remain uncertain. The outlook going forward will depend, in addition to other factors, on how COVID-19 continues to affect the global economy.


We are a global technology services firm, with employees across over 55 countries and serving enterprise clients across various industries. We provide our clients with competitive advantages by applying various emerging technologies and ensuring cyber resilience and cyber assurance. We work with our clients not only to enable their digital future, but also to drive hyper efficiencies across their technology infrastructure, applications and core operations, enabling them to achieve cost leadership in their businesses.

We are recognized by our clients for our ability to bring in an integrated perspective, or our ability to bring together broad and deep technology and domain expertise, our ability to draw learnings and apply insights from one company or sector to another and our ability to provide end-to-end services. Our clients value our consistent excellence in execution and our ability to proactively incorporate relevant innovation.

Our IT Services segment provides a range of IT and IT-enabled services which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, analytics services, business process services, research and development and hardware and software design to leading enterprises worldwide. Our IT Products segment provides a range of third-party IT products, which allows us to offer comprehensive IT system integration services. These products include computing, platforms and storage, networking solutions, enterprise information security and software products, including databases and operating systems. We provide IT products as a complement to our IT services offerings rather than sell standalone IT products.

Our ISRE segment consists of IT Services offerings to organizations owned or controlled by the GoI and/or any Indian State Governments. Our ISRE strategy focuses on consulting and digital engagements, and we are selective in bidding for SI projects with long working capital cycles

COVID-19 Impact on Business Outlook

On March 11, 2020, as COVID-19 spread rapidly, both in terms of number of cases and the affected countries, the World Health Organization (WHO) characterized COVID-19 as a pandemic.

As a response to COVID-19, we activated our COVID-19 Global Crisis Management task force in early March 2020. The task force was chaired by our Chief Operating Officer and consisted of several cross-functional teams, including business continuity, IT and cybersecurity services. Most of our employees were quickly asked to work from home. In order to better support employees working from home, we enhanced our cybersecurity measures by installing secure agents in our systems. In parallel, we reached out to our customers, briefed them of the measures we were adopting and sought their approval. Through these efforts, we have been able to continue to support the majority of our customers. Our teams have settled into the new ways of working and our managers are tracking employee welfare, productivity and customer service delivery progress through the use of various tools. We are collaborating with our customers on delivering on our commitments.

However, the markets we serve continue to undergo massive disruptions due to the COVID-19 pandemic. The World Bank predicts that the global Gross Domestic Product (GDP) will decline by 5.2% in the year 2020. The economic fallout of and the subsequent recovery from COVID-19 will depend on multiple factors, such as recovery driven by containment efforts, supply chain disruptions, impact of lockdowns etc. The continued spread of COVID-19 could adversely affect workforces, customers, economies and financial markets globally, potentially leading to further economic downturn.

This could decrease our customers spend on technology, adversely affect demand for prospective projects / ramp-ups, cause cancellations or ramp-downs of existing projects, increased requests for furloughs, increase pricing pressure, higher travel restrictions, impose supply-side constraints, and adversely impact cash conversion cycles. Macroeconomic conditions caused by COVID-19 could also result in financial difficulties for our clients, including limited access to the credit markets, insolvency or bankruptcy. Further while various cybersecurity control mechanisms are deployed and periodically reinforced, security control mechanisms may not always be successful, considering the complexity of the environments, inter-dependencies, sophisticated attack methodologies, highly dynamic heterogeneous systems, global digital presence hosted both in cloud and on premises with work from home arrangements.

The potential impact to our results going forward will depend to a large extent on future developments regarding COVID-19 that cannot be accurately predicted at this time, including the duration and severity of the pandemic, the extent and effectiveness of containment actions and the impact of these and other factors on our employees, customers, partners and vendors.

In summary, we have a strong Business Continuity Plan framework that enabled us to respond to the COVID-19 crisis with agility. ~90% of our workforce are enabled to work from home and we continue to service our customers, delivering on several time critical milestones and processes. Our Digital- first strategy and our investments in Digital, Cloud, Engineering and Cybersecurity have become particularly relevant in the post COVID-19 business environment. We will remain resolute in our goals of employee safety, business continuity and of being a trusted partner to our customers.


Our strategy is about driving a Digital first approach through four foundational pillars: Business Transformation, Modernization, Connected Intelligence and Trust. As part of this approach, we are prioritizing and investing significantly to drive growth in key strategic fields such as digital, cloud, cybersecurity and industrial and engineering services through our Big Bet program. For example, our Big Bet in each of digital and cloud is at the heart of our Business Transformation and Modernization pillars, while our Big Bet in industrial and engineering services is central to our Connected Intelligence pillar and our Big Bet in cybersecurity is central to our Trust pillar. Talent and Delivery Models, IPs and Platforms, and Open Innovation are the underlying strategies that support the four pillars.

Our vision is to earn our clients trust and maximize value of their businesses by helping them in their journey to reinvent their business and operating models with our Digital first approach and best in class execution.

Recent Developments

We anticipate that our Digital first strategy will be particularly relevant as we believe the following consumer and industry trends, driven by the response to the COVID-19 pandemic, will reshape the way businesses and organizations operate. They are: Accelerate to Digital - The COVID-19 pandemic has precipitated the shift to online/Digital business models globally, across industries and markets, such as Digital only banks and platform-based business models across industries including banking and asset management. Ecosystem collaboration will become a key element of business strategy, and will be driven by the need to optimize for time, cost and de-risking imperatives. Ways of Working - We anticipate a long-term impact on established ways of operations, including a redefinition of the core compared to non-core workforce and use of community/ gig models, in the following ways: a. Work done anywhere by anyone. Virtual, remote, community-based and distributed work models such as work from home/remote working will become mainstream, enabled by remote working and collaborative technologies. b. We believe that in response to the COVID-19 pandemic, mainstream adoption of the community work force and crowdsourced and community models (private, public and hybrid) will accelerate.

Adaptable, Agile and Resilient Enterprise - Enterprises will need to evaluate their technology stack to allow them to operate with flexibility and agility, and work with partners who can respond and adjust quickly to changing circumstances.

Automation and Autonomous - Social distancing will become a key design principle element from an operating model standpoint across businesses and will be a key factor that will accelerate the adoption of automation, autonomous and low or no human touch or contactless ways of working. Safe Enterprise - Focusing on employee health and safety, enterprise health and risk management. Given large scale disruptions in supply chains globally, we anticipate that organizations will invest in decentralizing and nearshoring supply chains in the future and reduce dependency on a few countries.

Enterprises will increasingly require partners, such as Wipro, who bring capabilities that span across consultancy, design, engineering, systems integration and operations to enable them to achieve the accelerated digital transformation. The transformation can only be effective if delivered in the context of the relevant industry or domain, hence it is critical to us that we provide strong domain expertise along with Digital.

Business Transformation

Business Transformation is the first of our four pillars. It is about redefining customer experiences and changing business and operating models through a Design and Consulting-led approach. We deliver value to our customers under this pillar through our capabilities in Consulting, Industry Domain and Strategic Design, scaled through acquisitions of companies such as Designit and Cooper. Examples include:

Acceleration of e-commerce, implementing operating models to re-imagine supply chains to be resilient and low contact, automated front offices, automated manufacturing back office (supply chain solutions, HOLMESTM) and agile planning, among other things.

Virtual and community work models leveraging our solutions, such as Talent as a Service (TaaS) through

Topcoder; agile, hybrid cloud-based, modular scale-out VDI solutions; software-defined networking in a wide area network (SD-WAN).

Our acquisition of Rational Interaction, Inc., a full-service digital CX company, will help us scale our offerings for Chief Marketing Officers, by connecting Rational Interaction, Inc.s ability to map and orchestrate the customer journey with our ability to design and build experiences at a global scale.


Modernization, the second of our four pillars, is about taking an integrated cloud-first and automation-first approach across applications, infrastructure and data to modernize the IT landscape, and leverages our cloud studios, Wipro HOLMESTM, new ways of working, Application Programming Interface (API ) and microservices.

We work with clients to help them drive resilience and adaptability through modernization and automation. Our strategy is to leverage our assets, like cloud studios across various geographies, which provide services such as cloud assessment, cloud migration (Lift and Shift), cloud native and DevOps, among others.

Wipro HOLMESTM helps enterprises hyper-automate processes and offload specific cognitive tasks to the AI platform to gain cost efficiencies, agility and enhanced user experience. Wipro HOLMESTM helps businesses adopt a hybrid mode of operation (i.e., pairing automation and human effort), which is achieved through a combination of virtual agents, predictive systems, cognitive process automation, visual computing applications, knowledge virtualization and AI reasoning.

We also offer automation advisory services to help clients in their journey of AI/automation through designing automation roadmaps and setting up Digital Centers of Excellence for automation initiatives. In addition to the Wipro HOLMESTM platform, we are building a collaboration ecosystem for automation, working with partners such as Robotics Process Automation providers (e.g., Automation Anywhere, Inc.), start-ups (e.g., Avaamo, Inc. and Arago, GmbH) and established partners (e.g., IBM, Amazon.com, Inc., Google LLC, Microsoft Corporation, SAP SE, Oracle Corporation and ServiceNow, Inc.).

For our API and microservices, we have significantly scaled our consulting talent pool and solutions, which includes our Digital Modernization platform.

Connected Intelligence

Connected Intelligence, the third of our four pillars, focuses on driving outcomes through our market leading platforms such as Wipro HOLMEST, Data Discovery Platform, and use-case based AI solutions. Our connected capabilities and solutions leverage technologies such as 5G and IoT and are deployed across industries to deliver innovations in areas such as autonomous systems and Industry 4.0.

We continue to invest in scaling end-to-end capabilities across sensors, gateways, connectivity, platforms, analytics, machine learning (ML) and artificial intelligence to drive transformation in a hyper-connected world. We are scaling assets and capabilities in emerging areas such as IoT, 5G, and autonomous systems.


Trust, the fourth pillar, addresses the changing security, privacy, ways of working (virtual, remote and distributed) and regulatory landscape, driven by ubiquitous technology. We use a consulting-led approach in areas such as cyber security, enterprise risk management, data privacy and control assurance. We have leveraged cognitive automation, e.g., automated incident detection and response, to drive security and are building assets such as our cyber defense assurance platform (CDAP) and working with security ecosystem partners and governing bodies, such as Cloud Security Alliance and Wipro Ventures Portfolio.

Key enablers underlying our strategy

Our delivery model that enables a virtual, agile, distributed, intelligent and automated enterprise-based on the fundamental principles of distributed, no-shore, agile workforces and a cloud-first approach. Our delivery model enables flexibility anywhere by anyone and will leverage the community model through Topcoder. The model is predicated on seamless connectivity with seamless end-point security, access from anywhere and real-time collaboration in every workflow.

Focus on Talent : Our Talent strategy is predicated on scaling global, diverse, local and distributed talent, including scaling p/X-shaped talent, product managers, scrum masters and full stack engineers with a product-centric mindset with creative talent to deliver innovation with impact.

Products, Platforms and Solutions: Underlying our strategy is our focused execution approach and investment rigor. We have a robust product and platform portfolio of cross-industry and industry-specific platforms and products. For example, we have solutions and platforms which have increased relevance during the COVID- 9 pandemic, such as VirtuadeskTM (virtual desktop), cloud studios that enable secure and effective cloud migration, our Topcoder platform enabling TaaS, Wipro HOLMESTM solutions for remote working anddrugdiscovery,aswellasourCADP.Wearealsoscalingand building industry platforms and solutions that are delivered in an as-a-service construct. Examples of our domain and industry intellectual property (IP) are Netoxygen in our  Banking, Financial Services and Insurance business unit and Medicare Advantage in our Health Business Unit.

Open Innovation: Open Innovation is about engaging with the external innovation ecosystem to tap leading-edge innovation and disruptive technologies to bring the best solutions to our clients. It is about tapping the global innovation network through vehicles such as Wipro Ventures, Research Partnerships and Horizon Program, crowdsourcing models, such as Topcoder and M&A.

Wipro Ventures: The strategic investment arm of Wipro, Wipro Ventures invests in early- to mid-stage enterprise software startups. Wipro Ventures was launched as a $100 million Fund in early 2015. In February 2020, Wipro Ventures received an additional allocation of $150 million for Wipro Ventures Fund II. As of March 31, 2020, Wipro Ventures has active investments in and partnered with 14 startups in the followingareas-AI(Avaamo,Inc.,VicariousFPC,Inc.),Business Commerce (Tradeshift, Inc.), Cybersecurity (IntSights Cyber Intelligence Ltd., Vectra Networks, Inc. CyCognito, CloudKnox), Data Management (Incorta), Industrial IoT (Altizon Systems Private Ltd.), Fraud and Risk Mitigation, Testing Automation (Headspin, Inc., Tricentis GmbH, Sealights) and Cloud Infrastructure (CloudGenix, Moogsoft). In addition to direct investments in emerging startups, Wipro Ventures has invested in five enterprise-focused venture funds: B Capital, TLV Partners, Work-Bench Ventures, Glilot Capital Partners and Boldstart Ventures.

Research Partnerships: Collaboration with academic institutions and associations in the United States, Europe, Israel and India in the fields of computer and electrical engineering to promote innovative technology research and capability.

Horizon Program: The goal of the Horizon Program is to drive organic incubation in emerging areas covering products, platforms, solutions and capabilities. In order to achieve this objective, we are investing in key areas such as AI, robotics, software-defined everything, autonomous vehicle, connected cars, digital twins, cybersecurity, Industry 4.0 and industry solutions such as cargo management. During the year ended March 31, 2020, we funded 12 projects as part of this program.

Crowdsourcing (Topcoder): A community and crowdsourcing platform with over one million developers, designers, data scientists and testers. Topcoder provides focused enterprise offerings around AI/ML and analytics, digital experience (DX), Quality as a Service (QaaS), workforce transformation, TaaS and hybrid (certified) communities. We are also using the Topcoder Hybrid Crowd Platform to scale and engage in-house talent pools in emerging technologies such as Full Stack, DevOps, AI/ML, Cloud, Analytics and other Digital skills with our internal TopGear hybrid community. It also acts as a structured learning path for accounts providing hands-on experience across more than 200 skills. We are creating a pool of Challenge Architects, Topcoder Co-pilots and Reviewers to expand the percentage of work delivered through crowdsourcing.

Partner Ecosystem: We have a dedicated unit to drive and deepen our partner ecosystem and to drive creation of new markets and solutions, expand in key verticals and geographies, drive innovation in our offerings and drive go-to-market outcomes. We have subdivided the partner ecosystem into the following categories:

a. Strategic Partners: Multiple product lines with significant business volume and potential.

b. Growth Partners: Single practice alliances.

c. Niche Partners: Niche products with differentiated solutions.

M&A: Acquisitions are key enablers for us and drive our capability to build industry domain, focus on key strategic areas, strengthen our presence in emerging technology areas, including Digital, and increase market footprint in newer markets. We focus on opportunities where we can further develop our domain expertise, specific skill sets and our global delivery model to maximize service and product enhancements and create higher margins. We also evaluate business units to determine if divestitures would maximize our focus on key priorities.

We have invested in acquiring new technology and skills. In the last three fiscal years, we have completed several mergers and acquisitions, including the acquisitions of: i. International TechneGroup Incorporated, a global digital engineering and manufacturing solutions company and a world leader in CAD and PLM interoperability software services; ii. Rational Interaction, a full-service digital CX solutions firm that brings the strategic capabilities of a consultancy together with the creative and digital prowess of an agency; iii. Cooper Software Inc., an award-winning design and business strategy consultancy, which expands our digital reach in North America and adding capabilities in professional design education; and iv. InfoSERVER S.A., an IT services provider providing custom application development and software deployment services in the Brazilian market.


Our business comprises of the IT Services, IT Products and ISRE segments. The ISRE segment consists of IT services offerings to ISRE Customers. Additionally, we provide our IT Services segment revenue and results by industry verticals. Our industry verticals are subject to change and may vary depending on industry trends.

IT Services Offerings

We are a leading provider of IT services to enterprises across the globe. We provide a range of services, which include digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design. We offer these services globally leveraging our products, platforms and solutions through a team of over 180,000 employees using our global delivery model. Our key service offerings are outlined below:

Application Services

Digital: Wipro Digital helps global enterprises transform their business, IT and customer experience by leveraging design and technology. As companies define a new normal, CIOs, CMOs and other key stakeholders partner with us to create healthy, resilient and agile businesses.

Our end-to-end offerings encompass Product Strategy and Design, IT Operating Model Transformation, Digital CMO, Intelligent Processes, and High-Performance Software Engineering. These areas form the backbone of our clients transformations and are central to helping them build resilience throughout their organization.

Technology increasingly helps enterprises maintain business continuity and chart a path forward. While CMOs conceive new customer engagements, our acquisition of Rational Interaction in February 2020 gives us a stronger voice in the discussion. Simultaneously, while CIOs redefine their IT Operating Model, our Agile Anywhere engineering framework offers a powerful resource.

From CX strategy to AI, and from engineering to cloud services, Wipro Digital has the depth and breadth that global enterprises need as they forge their future and navigate a path to a new normal.

Cloud Enterprise Platforms (CEP): Enterprise applications provide a strong IT backbone to organizations, many of which are grappling with technical debt from legacy systems, unable to support the agility needed by modern businesses.

At CEP we drive the digital flip of these applications and enable the digital transformation of businesses, helping them reimagine the businesses and their models by fundamentally changing how value is generated by the enterprise, and how value is delivered to consumer.

CEP is comprised of five units:

SAP and Oracle units each offer end-to-end services for SAP and Oracle stack both on-premise and on cloud platforms, towards application modernization and digital transformation.

Process Transformation which provides advisory services to transform clients business processes such as Record-to-Report, Order-to-Cash, Procure-to-Pay, Hire-to-Retire. The Growth Practices helps customers adopt SaaS based solutions across growing cloud platforms

Appirio Cloud Services, which focusses on integrating traditional SaaS technology providers such as Salesforce, Google and related providers such as FinancialForce and MuleSoft combining our capabilities in customer experience.

Microsoft Dynamics practice which powers the Microsoft based ERP and CRM applications.

CEP focuses on driving application transformation with contextual solutions for our customers from front office to back office by combining consulting, design and development, continuous testing and integration, automation and operational excellence across industries.

Cloud and Infrastructure Services (CIS)

CIS is an end-to-end cloud and IT infrastructure services provider that helps global clients accelerate their digital journey. Our offerings include public and hybrid cloud/ modern datacenter solutions, software-defined, DevOps and micro-services, Digital workplace services, connected intelligence services including Digital intent-aware network, IoT and 5G across advisory and consulting, transformation and system integration, business continuity services, testing and managed services. Through industry recognized IPs, assets and accelerators such as BoundaryLess Enterprise (BLE), Wipro VirtuadeskT (VDI), CloudStudio, Wipro Smart i-ConnectT (IoT), WANFreedom (SD-WAN), Wipro HOLMEST (intelligent automation), AppAnywhere and FluidIT, a comprehensive partner ecosystem and our skills in emerging technologies like software-defined everything, opensource, DevOps and IoT ensure that we are a one-stop shop for all cloud and IT infrastructure needs.

Industrial and Engineering Services (IES)

IES is the driver of our engineering services portfolio and facilitates more than 375 clients across multiple industries and/or verticals by providing a platform to innovate and engineer the products, platforms and technologies at scale. This platform of services offerings, called EngineeringNXT, combines the maturity of engineering processes, the passion for the latest technology and access to a diverse ecosystem to deliver value to customers at various stages of the product or platform life cycle.

Over the years, IES has created value with our engineering services offerings for numerous multinational corporations by engineering innovative customer experiences, personalizing products and technologies for new markets, integrating next-generation technologies, facilitating faster time to market and ensuring global product compliance. Today, with more than 400 patents, IES continues to deliver these services by leveraging its innovative solutions, engineering processes and delivery excellence across the spectrum, covering connectivity (wireless technologies), Cloud and Data Platforms, Systems Design, very-large-scale integration  (VLSI), next generation software development and testing, electronic data system (EDS), PLM, IoT and Industry 4.0.

Data, Analytics and AI (DAAI)

As a preferred partner for our customers data and insights transformations, we help them in their journey to transform into intelligent enterprises by automating decision making, powered by insights and driven by rich datasets. Wipro leverages AI, ML, advanced analytics, big data and information management capabilities to deliver measurable business outcomes across customers journey from data to decisions, focusing on:

Insights transformation - Transforming legacy decision-making processes into modern, elastic and AI and ML driven, insights-centric capabilities that enable smarter processes. This ensures that our clients get pertinent insights in real-time to the right decision-makers to fuel innovation, productivity and investment, as their organizations become intelligent enterprises.

Data transformation - Helping clients adopt modern data platforms, processes and methods in on-premises, cloud and hybrid ecosystems to support analytics, AI and ML workloads through a set of themes that brings transformative change to the data landscape.

Cybersecurity and Risk Services (CRS)

CRS enables next generation global enterprises to enhance their business resilience through an intelligent and integrated risk approach that has modernizing security at its core. CRS enables the customers to define their cyber strategy and the cybersecurity needs, envisaging best practices across people, process and technology. Leveraging a large pool of experienced security professionals and a global delivery model that leverages our Cyber Defense Centers, we execute projects and deliver managed and hosted services backed by our Cyber Defense Platform. Our unique top-down risk-based approach delivers innovative security platforms for better scalability, improved cost efficiency and greater agility.

Digital Operations and Platforms (DOP)

Wipro DOP is a leader in providing next generation technology-led business process services to global enterprises. Our mission is to drive superior customer experience and maximize returns by bringing down operating costs and improving efficiency, quality and productivity. Our process excellence and domain expertise helps us reimagine, redesign, standardize and transform business processes and enterprise operations transformation helps clients leverage and deliver benefits from RPA, AI, analytics and other emerging technologies. Some of our leading offerings:

Digital Customer Experience: Our analytics powered customer service platform resolves various complex interactions via AI chatbots. We also leverage AR and VR in customer care.

Supply Chain Management: RPA and AI automate our end-to-end order management platform for more than 15 mn+ annual transactions.

Finance and Accounting: We manage end-to-end services for 134+ global clients delivering benefits through smart operations.

Marketing-as-a-Service: We manage marketing operations to cover above the line and below the line across design, content management, social media marketing, etc.

Trust and Safety: We help companies having online presences to monitor, police and prevent fraudulent behavior.

IT Services Industry Verticals

Our IT Services business is organized into seven industry verticals:

Banking, Financial Services and Insurance (BFSI): The BFSI business unit serves over 100 clients globally across Retail Banking, Investment Banking, Capital Markets, Wealth Management and Insurance. We have been instrumental in delivering success to our clients by aligning with their business priorities; we have done this by leveraging state-of-the-art technology and process transformation solutions, digital capabilities, service design innovation, domain expertise, IP and integrated offerings, end-to-end consulting services, insights capabilities, adoption of new ways of working, and an ongoing focus on delivery excellence. We also harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics, emerging technologies to help our clients adapt to the digital world.

Health Business Unit (Health BU): Health BU is focused on creating superior experiences, efficiency and outcomes across the healthcare continuum. Wipros innovation ecosystem integrates the best in technology, strategy, and design and is the perfect partner to enterprises working to deliver better patient outcomes. Shifting the focus from process-first to people-first, we are working to reshape healthcare and life sciences around human-shaped experiences.

Consumer Business Unit (CBU) : CBU offers a full array of innovative solutions and services to cater to the entire value chain where the consumer is at the core, through a blend of domain knowledge, technology expertise and delivery excellence. We offer an integrated environment that allows organizations to model, optimize, forecast, budget, execute, manage and measure product, and customer performance across the globe. Our domain specialists work with customers to provide strong consumer-centric insights and project execution skills that maximize value for our customers technology investments across retail and distribution, consumer packaged goods, transportation, travel and hospitality, media and education, the new age segment and the public sector.

Energy, Natural Resources and Utilities (ENU) : Our in-depth understanding of the energy sector has equipped us to help oil and gas, utilities and mining customers to transform their assets, consumers, workforce and businesses by adopting digital technologies. We actively partner with customers to help them navigate the transition to digital. Building on this experience and capability, we have expanded our customer base to smart infrastructure industries, such as airports, engineering, facilities, real estate management and construction. Analysts have recognized the ENU business unit as an industry leader and major player for delivering great customer and digital experiences in critical industry domain areas.

Manufacturing (MFG): Wipros MFG business unit caters to manufacturing companies across the industry segments of aerospace and defense, automotive, industrial and process manufacturing. By coupling our digital and extensive domain expertise, we help our customers transform their business processes across product design, supply chain, and aftermarket services to achieve their digital transformation objectives. We have leveraged our network of partners and academia, to develop IP, platforms and industry-focused solutions. Our after-market solutions and services are helping manufacturing customers capture additional market share by adopting new business models. Our ongoing investments in emerging technologies like autonomous systems and robotics, Industry 4.0, aftermarket, industrial IoT, augmented reality and virtual reality are helping customers create new business solutions and create new revenue models.

Technology (TECH): Companies across the high-tech value chain; from the silicon providers to software companies, are serviced by Wipros TECH business unit. Our extensive customer portfolio includes marquee companies in semiconductors, compute and storage, networking and edge, peripherals, consumer electronics, software products and gaming. We help our customers transition to new business models by helping them build digital products and solutions, digitize their operations, enable their digital marketing and servitization strategies, and transform their business model to an As a Service model. With extensive focus on 5G, IoT, Analytics, AI,

Edge and cloud native based solutions we bring together an ecosystem of expertise to build IP, platforms and domain/ industry-focused solutions that help our customers reach their business goals. Our deep domain knowledge, wide range of service offerings, investments and capabilities in cybersecurity, cloud, open source and next-generation engineering services and solutions has positioned us as a top integrated hardware and software research and engineering service provider.

Communications (COMM): Wipro has been enabling the digital transformation journey of Communications Service Providers (CSPs) across the globe as they transform to become Digital Service Providers. Our digital business solutions are tailored for CSPs customer context, with capabilities in technologies such as 5G, cloud, software-defined networking and network functions virtualization, AI, IoT, blockchain, cybersecurity and a digital workplace in order to focus on new ways of working. We enable the convergence of network, IT and business processes across the entire customer lifecycle. Our investments in new-age start-ups through Wipro Ventures, along with a comprehensive partner ecosystem are enabling CSPs globally to create services that enable new revenue opportunities, build business agility and reduce their time to market in Business-to-Consumer and Business-to-Business environments. Our focus on continuous improvement, alignment to industry standards, investments in the technology solutions of tomorrow, especially as we gear up for the 5G revolution, deliver proven business value to global CSP customers.

IT Services Competition

The market for IT services is competitive and rapidly changing. Our competitors in this market include global consulting firms and IT services companies as well as local and niche services providers.

The following factors differentiate us from our competition:

1. The comprehensive and integrated suite of IT solutions, including digital strategy advisory, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, cloud, mobility and analytics services, business process services, research and development and hardware and software design.

2. Crowdsourcing (Topcoder): A community and crowdsourcing platform with over one million developers, designers, data scientists and testers. Topcoder provides focused enterprise offerings around AI/ML and analytics, DX, QaaS, workforce transformation, TaaS and hybrid (certified) communities.

3. Wipro Digitals integrated propositions in customer mapping and interaction, seamless integration and data science and insight differentiate its approach with customer journey engineering.

4. Our organizational culture of innovation and our early start in deploying cutting edge platforms and technologies that drive hyper-automation and achieve industrialization of service delivery, such as Wipro HOLMESTM.

5. Our investments in developing IP across products, platforms, frameworks, solutions, components, accelerators, tools and apps that enable us to provide standardized solutions to our customers and obtain enormous time-to-market advantage.

6. Our decades of experience in serving in the IT business, proven track record of delivery excellence and satisfied customers who recommend our services to other corporations.

7. Our ability to provide an entire range of research and development services from concept to product realization.

8. Our global delivery model, that leverages our global, regional and local near-shore development centers and collaborative technologies to help us better serve our clients in this modern technology era.

9. Our ability to access, attract and retain highly skilled personnel across key markets.

10. Our emphasis on engaging the culture of our new age acquisitions and integrating these technologies with our executional experience and service offerings to maximize synergies for our clients.

11. Our ability to offer opportunities to work with cutting edge technologies and focus on training is a critical differentiator to the quality of our manpower.

12. The Wipro brand that is recognized globally for its comprehensive portfolio of services, a practitioners approach to delivering innovation and an organization-wide commitment to sustainability.

13. Our commitment to the highest levels of corporate governance.

IT Products

We provide IT products as a complement to our IT services offerings rather than sell standalone IT products.

IT Products Customers

We provide our offerings to enterprises in all major industries, primarily in the India market, including government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education and financial services sectors. We have a diverse range of customers. For the year ended March 31, 2020, we had one customer that accounted for 21.9% of our overall IT Products segment revenue.

IT Products Sales and Marketing

We are value-added resellers of third-party enterprise products through our direct sales force. Our sales teams are organized by industry vertical. Our global client partners receive support from our corporate marketing team to assist in brand building and other corporate level marketing efforts for various market segments.

IT Products Competition

Our competitors in the IT Products market include global system integrators as well as local and niche services providers operating in specific geographies like India. One of the major challenges we encounter is margin pressure due to competitive pricing. Achieving mindshare and market share in a crowded market place requires differentiated strategies on pricing, branding, delivery and products design. In the system integration market, we believe we are favorably positioned based on our brand, quality leadership, expertise in target markets and our ability to create customer loyalty by delivering value to our customers. The following factors differentiate us from our competition:

1. Our decades of experience in serving in the IT business, a proven track record of delivery excellence and satisfied customers who recommend our services to other corporations.

2. Our deep understanding of the market especially in the India 3. Our trusted ability to provide impartial advice on selection of products.

4. The Wipro brand is recognized for serving the Indian market for over seventy years.

5. Our commitment to environmental sustainability as well as deep engagement with communities.


The ISRE segment consists of IT Services offerings to departments or ministries of the GoI and/or the Indian State Governments, as well as to corporate entities where more than 51% of the paid-up capital is held by the GoI or any Indian State Government, either individually or jointly (i.e., a Public Sector Undertaking). In certain cases, corporate entities which are held by the Central / State Government (more than 51%), in turn hold more than 51% stake of paid-up capital in other entities (i.e., a controlling stake), such other entities are also classified as an ISRE.

We have pivoted our ISRE strategy to focus more on consulting and digital engagements and to be selective in bidding for SI projects with long working capital cycles. We will be leveraging our strong practices in areas such as taxation and e-governance, oil and gas and utilities, along with our strong partner system, to work with Indian government entities, Public Sector Undertakings and other large companies classified as ISREs. For BFSI projects in our ISRE segment, we aim to replicate our successes in areas such as core banking transformation, and consulting.

ISRE Customers

We have customers across the GoI, Indian State Governments and in industry segments such as BFSI and ENU in the form of corporate entities where more than 51% of the paid-up capital is held by the Central and/or State governments of India. We work with multiple ISRE customers and our top two ISRE customers contributed approximately 27% of our ISRE revenues for the year ended March 31, 2020. Our largest ISRE customer and second largest ISRE customer accounted for 15.9% and 11.1%, respectively, of our overall ISRE segment revenue for the year ended March 31, 2020.

ISRE Sales and Marketing

Our ISRE business unit will focus on the unique customer requirements and will create a Go To Market (GTM) approach that will address the needs of the present as well as future.

ISRE Competition

In the ISRE sector, our competition comes from both local and global IT services companies, including large global consulting firms. For the GoI segment, several small companies have entered the market as disruptors, with most of these small companies focused on penetration strategy. The following factors differentiate us from our competition:

1. Our deep technology knowledge and domain expertise specifically in BFSI and ENU.

2. Our strong partnership with key alliance partners including hardware and software partners.

3. Significant experience in successfully delivering key marquee programs and strong reference ability across the ISRE sector.


Corporate governance

At Wipro, Corporate Governance is more than just adherence to the statutory and regulatory requirements. It is equally about focusing on voluntary practices that underlie the highest levels of transparency and propriety. Our Corporate Governance philosophy is put into practice at Wipro through the following four functional layers, namely,

Governance by Shareholders
Governance by Board of Directors
Governance by Sub- Committees of Board of Directors Audit, Risk and Compliance Committee, which also acts as Risk Management Committee
Board Governance, Nomination and Compensation Committee, which also acts as CSR Committee
Strategy Committee
Administrative, Shareholders and
Investors Grievance Committee
(Stakeholders Relationship Committee)
Governance by Risk Management
Management Code of Business Conduct
Process Compliance Framework
The Ombuds process

Governance by Management Process

Ensuring regulatory compliance and adherence to standards is of utmost importance to Wipro. Wipro has a compliance framework and the objective of this framework is to deploy appropriate practices and processes to ensure compliance with all applicable laws and regulations, globally and to ensure compliance risks are identified, and adequately mitigated. The Compliance framework includes the Global Statutory Compliance Policy and Certification Process as approved by the Audit Committee and Board of Wipro Limited. Electronic dashboards, self-declaration checklists on statutory obligations and audits are some of the mechanisms to monitor and manage compliance in Wipro.

The Risk Steering Council and Risk and Governance committee, meet on monthly & quarterly basis respectively, to review key risk themes and provide direction and oversight, to the risk management process.

Governance by Code of Business Conduct

Wipro has an organization wide Code of Business Conduct which reflects general principles to guide employees in making ethical decisions. The Code outlines fundamental ethical considerations as well as specific considerations that need to be maintained for professional conduct. More details are provided in the Corporate Governance report.


The risk landscape in the current business environment is changing dynamically with the dimensions of Cyber security, Information Security and Business Continuity, Data Privacy and Large Deal Execution figuring prominently in the risk charts of most organizations. To effectively mitigate these risks, we have employed a risk management framework, which helps proactively identify, prioritize and mitigate risks. The framework is based on principles laid out in the four globally recognized standards as below.

Orange Book by UK
Government Treasury
COSO; Enterprise Risk
Management- Integrating with Strategy and
Performance (2017) by Tread way Commission
AS/NZS ISO 31000:2009 Risk Management - Principles and Guidelines by AUS/NZ Standards Board
ISO ISO 31000:2018, Risk management - Guidelines
Major risks Mitigation plan
Decisions made by local governments or public health bodies owing to the COVID-19 pandemic, posing restrictions on physical movement of employees thereby impacting business continuity We have a Business Continuity team in place which is cross functional including delivery, legal, office administration, procurement, IT enablement & IT security teams. They are reviewing the situation closely and providing adequate information on the appropriate measures to be taken to remain compliant.
Risk of an COVID-19 outbreak within the companys premises impacting employee Safety & well-being Constant communication on building employee awareness, limited working from campus, proper sanitization, availability of medical staff within the premises, appropriate social distancing are already in place. We have a well-crafted BCP plan in place if the outbreak affects one campus.
Escalation of Information Security & Cyber Security risk on account of increase in surface area of devices Based on the perceived risks, effective security controls implemented to detect, prevent and remediate threats. Program to continuously monitor the effectiveness of the controls are implemented to effectively sustain the security controls. Based on the changing threat landscape, focus is on continuous improvement of the efficacy of the security controls with the adoption of new processes and latest technology solutions.
Change in internal controls over financial reporting In response to the COVID-19 pandemic, we initiated our business continuity program in March 2020 and facilitated our employees to work remotely/work from home. Our business continuity program and the design of our processes allow for remote execution with accessibility to secure data. There were no changes to our internal control over financial reporting that have materially affected or are reasonably likely to materially affect our internal control over financial reporting during the period covered in this Annual Report.
Intellectual Property violating or misusing our clients intellectual property rights or for breaches of third-party intellectual property rights or confidential information in connection with services to our clients. Elaborate program exists and is enhanced on an ongoing basis, to assess and mitigate the risks on account of intellectual property, both Customer and Wipro owned. The program is crucial and assists in identifying, monitoring, governing and creating awareness across the organization.
Data Privacy regulations (such as General Data Protection Regulation in Europe) relating to personal information dealt with both by and on behalf of Wipro increases the risk of non- compliance. The Data Privacy program has been augmented keeping into consideration privacy regulatory requirements, with specific emphasis to revalidate all existing frameworks, policies and processes that can be leveraged by respective support function and delivery teams, covering all applicable geographies and areas of operations. Wipro has implemented the Data process/ Data transfer agreements with customers as well as vendors for flow down DTA/DPA to ensure GDPR governance of personal data. We have also strengthened Wipro systems to strengthen personal data governance from controller perspective. Also setup a process to handle subject access requests related to personal data. Implemented Personal incident management process to ensure speedy governance on personal data related incidents; if any.
Major risks Mitigation plan
Regulatory Compliances covering various federal, state, local and foreign laws relating to various aspects of the business operations are complex and non- compliances can result in substantial fines, sanctions etc. A program on statutory compliance is in place with the objective to track all applicable regulations, the obligation arising out of the same and corresponding action items that requires to be adhered to ensure compliance along with necessary workflows enabled. The program is monitored and regularly reviewed to ensure compliance.
Functional and Operational risks arising out of various operational processes. Appropriate risk and control matrices have been designed for all critical business processes and both design and effectiveness is tested under the SOX & Internal Financial Control Programs and theme based assessments.
Service Delivery risks relating to complex programs providing end-to-end business solutions for our clients. Risk Management framework has been deployed for large value deals to assess solution fitness, credit risks, financial risks, technology risks among other risk factors.
Additionally contract compliance programs are in place with regular reviews, early warning systems as well as customer satisfaction surveys to assess the effectiveness of the service delivery and early detection of any risks arising from the service delivery.
Work place environment, Safety and Security Strong Control measures have been put in place to ensure employee health and safety. Awareness is created about various issues and are communicated on regular basis to employees. Wipro maintains Zero Tolerance for violators of code of business conduct. Also employees are provided with an online web portal to log in concerns relating to various subjects including environment and safety in the work place.
Business Continuity risksarising out of climate change related and other disruptions like natural disasters, IT outages, Cyber, pandemic, terror and unrest, power, water and other resource disruptions etc. which may challenge or impact our customers business and availability of People and process, Technology and Infrastructure. Effective implementation of Business Continuity Management System (BCMS) and framework aligned to ISO 22301 across global locations, accounts and service functions. The framework will ensure a robust BCM planning to manage any crisis which could disrupt People and process, Technology and Facility level disruption effectively and efficiently.
Geo political risk arising out of entering into contracts in a new country. An assessment of doing business in a new country is done in order to analyze the feasibility of doing business based on the countrys economic stability, corruption index, investment opportunities, ease of doing business and physical safety.
Risk of Protectionism policies impacting the business Appropriate measures are being taken to provide uninterrupted high quality services to the clients at all geographies. Additionally, localization efforts are being prioritized. More than 69% of the USA workforce is local. In Latin America almost all our employees are local.