Innovation - A Strategic Necessity
Date: Thursday , February 02, 2012
Trends driving the market
The current trends visible in the market are in the areas of Cloud based services, Mobility and Social Media.
Innovation is a strategic necessity at Hexaware which differentiates us from others, particularly from the larger players. It enables us to provide tangible benefit to our customers. The need to innovate makes us seek ideas from all avenues and encourage/fund the right ones. To institutionalize the culture of Innovation, we at Hexaware have set up an Innovation Council. We not only fund large COE teams in all business units but we also ensure that they are amply focused and results oriented through goal setting and timelines for each initiative.
Priority as a CEO
The key priority is to drive healthy revenue growth along with a strong profit margin performance while sustaining high levels of employee morale.
A CEO's dilemma
It would be to balance revenue growth with profitability and balance longer term investments with immediate quarter on quarter demands of a public listed company.
Challenges faced by CEOs in 2011
At Hexaware, our main task/target was to get our core business model ticking, drive broad based performance and derive growth across focus geographies, verticals and horizontals.
Approaching growth in the post-crisis business environment
We have continued to emphasize our attention on our select focus areas where we can differentiate ourselves in the market place and deliver value to customers by providing innovative solutions and leverage our IPs & platform based capabilities to be able to do more with less.
Thoughts on Leadership
Leadership means to lead by example; to take charge; encourage positive reinforcement and to demand excellence while providing means to achieve the same.
Thoughts on Risk Management and Sustainability
From a growth standpoint – this would drive broad based growth, so one is not vulnerable to a decline/shock in any segment of business. It would require us to Invest in both deepening ones capability in our focus areas, while consciously build out new ones. For instance, we are not only continuing to strengthen our Asset Management and Airlines (both existing Focus Areas) but also have started building out our Healthcare vertical (new area). Operationally, to institutionalize “Risk Management” we have a Risk officer, a clearly thought-out Enterprise Risk Management framework & a monitoring process in place and frequent reviews with the Board of Directors on the same.
An unforgettable day as the CEO
There have been several such occasions, but more recently when a valued customer genuinely thanked Hexaware and the team for solving a major crisis through innovation, incredible effort, team work and “REAL desire” to help! We were then awarded multiple other projects.
At another instance, almost at around the same time during our recently held TechSummit (Hexaware’s technology gathering) — a group of employees approached me and voiced their pride in being “Hexawarians” and thanked me personally for getting the company on a growth mode and becoming a “Star” among the mid caps.
P.R.Chandrasekar has a successful track record of driving revenue growth for a company including experience in mergers and acquisitions, business development, channel development and strategic initiatives. Prior to joining Hexaware, he was President Americas and Europe at Wipro and was responsible for the strategic development of these geographies. Chandrasekar joined Wipro in May 2000 from GE India where he was Director, Business Development.
He has a degree in Engineering from the Indian Institute of Technology, Madras (IIT-M) and has done his MBA from the Jamnalal Bajaj Institute of Management Studies, Mumbai University. Chandrasekar is based out of Hexaware’s office in New Jersey.