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The Wipro Story: From Humble Beginnings to Global Tech Leader
The Wipro Story: From Humble Beginnings to Global Tech Leader
Wipro Limited, a prominent name in the global IT services industry, is renowned for its innovative approach and commitment to excellence. From its humble beginnings to its transformation into a global powerhouse in information technology, Wipro has been a pioneer in adapting to the changing needs of the digital age. Headquartered in Bengaluru, India, the company has expanded its operations across over 50 countries, providing end-to-end solutions to industries ranging from banking and healthcare to retail and energy.
Wipro's strategic investments in cutting-edge technologies such as artificial intelligence, cloud computing and data analytics have strengthened its position as a leader in the IT space. In addition, its strong focus on sustainability, coupled with its net-zero emissions goal by 2040, showcases the company’s commitment to creating a sustainable future.
In this Startup Talky, we will talk about Wipro’s dynamic journey, its future plans, how it’s navigating the digital transformation wave and its efforts to stay at the forefront of technological advancements in a rapidly evolving market. Read to learn more about Wipro, its founder, business model, revenue model, funding, revenue, growth, financials, net worth, and more.
About Wipro
Wipro, a globally renowned technology powerhouse stands as a trailblazer among India's Big Tech elite. Offering a broad spectrum of services, Wipro specializes in IT solutions, business consulting and process optimization. With expertise spanning cloud innovation, cybersecurity, AI-driven solutions, robotics, digital transformation and advanced data analytics, the company caters to a diverse clientele across 167 countries.In 2007, Wipro unveiled its groundbreaking supercomputer series, the Wipro Supernova. Building on this innovation, the company partnered with the Indian Space Research Organisation (ISRO) in 2011 to create SAGA-220, India's fastest supercomputer at the time.
This cutting-edge machine was deployed at the Vikram Sarabhai Space Centre, marking a significant milestone in India's technological advancements.
Wipro - Industry
India's IT software and consulting industry is on a fast track to growth, driven by the rapid embrace of new technologies and an increasing emphasis on cybersecurity. Projections paint a promising picture for the sector:
- Revenue Milestone: By 2025, the industry is expected to generate revenue of $1.36 billion.
- Sustained Growth: From 2025 to 2029, the market is projected to grow at a steady CAGR of 8.14%, reaching a market volume of $1.86 billion by the end of the period.
With its momentum fueled by innovation and a focus on secure solutions, the IT consulting and implementation sector in India is set to shape the future of technology adoption and business transformation.
Wipro - Founders and Team
Azim Premji - Founder & Chairman, Wipro
Azim Premji - Founder & Chairman, Wipro
Azim Premji, born in Bombay (now Mumbai), India, grew up in a family deeply rooted in business. His father, Muhammed Hashim Premji, was known as the "Rice King of Burma" and played a key role in the family’s entrepreneurial legacy. When Muhammad Ali Jinnah, the founder of Pakistan, invited his father to move to Pakistan, he chose to remain in India, staying true to his roots.
Azim Premji pursued his Bachelor of Science in Electrical Engineering from Stanford University, shaping his future in technology and business. Today, he’s married to Yasmeen Premji and together they have two children: Rishad and Tariq. Rishad Premji, their eldest, now leads as the Chairman of Wipro's IT business, continuing the family’s influential role in the company’s success.
Wipro - Startup Story
Wipro, now India’s third most-valued IT company, has an inspiring journey that began far removed from technology. Founded in 1945 by Mohamed Hasham Premji in Amalner, Maharashtra, the company started as Western India Vegetable Products Limited, manufacturing vegetable and refined oils.
After Hasham Premji’s passing in 1966, his 21-year-old son, Azim Premji, took over the reins, leaving Stanford University to lead the business. Under his visionary leadership, the company began diversifying its product portfolio in the 1970s to include bakery fats, ethnic ingredient-based toiletries, baby products and hydraulic cylinders.
In 1977, the company rebranded as Wipro Products Limited and later as Wipro Limited in 1982, marking a pivotal shift in its identity. The 1980s were transformative, with Wipro capitalizing on the opportunities created by IBM’s exit from India. Collaborating with Sentinel Computer Corporation, Wipro entered the high-tech arena, manufacturing India’s first minicomputer based on the Intel 8086 chip in 1981.
By 1984, Wipro had launched its software division, initially developing spreadsheets and word-processing tools before shifting focus to offshore software development in the 1990s. The mid-1990s saw Wipro emerge as a leading manufacturer of personal computers and medical diagnostic equipment.
In 1998, Wipro was India’s second-largest software exporter, having transitioned from a consumer goods company to a global IT leader. Azim Premji’s strategic pivot from products like soaps to software laid the foundation for Wipro’s evolution into a tech giant, driving innovation and success in IT, consulting and business services worldwide.
Wipro - Mission and Vision
Mission
Wipro is committed to enabling clients to achieve their business goals by delivering excellence in processes, quality frameworks and innovative service solutions.
Vision
Wipro aspires to be a globally admired organization recognized for its world-class products, solutions and services.
- Name: Wipro Limited
- Tagline: "Applying Thought"
- Logo: Wipro’s logo features the company’s name on a clean white background, framed by colorful concentric dots. Redesigned in 2017, the new logo replaced the iconic rainbow flower and symbolizes Wipro’s seamless integration of technology with domain expertise. The concentric circles embody the company’s core values and its strong connections with employees, clients, partners and communities.
- Tagline Evolution: Wipro’s original tagline, "Applying Thought," served as a pledge to its customers, reflecting the company’s dedication to excellence in IT services and problem-solving. This timeless phrase encapsulated Wipro's approach to innovation and its journey of transformation.
In recent years, Wipro adopted the tagline "Be Digital. Be More" to emphasize its focus on empowering clients with cutting-edge digital solutions and driving meaningful growth in a rapidly evolving technological landscape.
Wipro - Business Model
Wipro offers diverse services tailored to client needs, including:
- IT Services: Solutions to drive digital transformation.
- Business Process Services: Optimizing workflows for efficiency.
- Consulting: Strategic advice for complex business challenges.
- Engineering Services: Cutting-edge product and system designs.
- Cloud Services: Scalable solutions for modern enterprises.
Wipro emphasizes strong, mutually beneficial relationships with its partners. These 360-degree partnerships ensure collaborative innovation and seamless integration, benefiting clients with comprehensive, cohesive solutions.
Global Business Lines
The company’s restructured global business line model focuses on key growth areas:
- Cloud solutions
- Enterprise technology
- Engineering services
- Strategic consulting
This approach ensures Wipro remains at the forefront of industry trends and emerging technologies.
Wipro’s Service Bureau Model creates a win-win by enabling large companies to share their billing infrastructure with smaller businesses. This collaborative framework helps reduce costs and improve efficiency for all stakeholders.By leveraging cutting-edge technologies, Wipro empowers clients to develop resilient operating models, drive innovation and navigate their digital transformation journeys effectively.
Wipro - Revenue Model
Wipro’s revenue generation is primarily driven by its robust IT services division, which offers a diverse range of solutions to clients across industries like banking, retail, healthcare and manufacturing. This segment encompasses key offerings such as software development, IT consulting, system integration and application management. Wipro assists businesses in optimizing operations and navigating their digital transformation journeys. By integrating advanced technologies like artificial intelligence (AI), cloud computing and cybersecurity solutions, Wipro has cemented its position as a leader in the IT services market, significantly contributing to its revenue stream.
In addition to IT services, Wipro’s business process outsourcing (BPO) division plays a crucial role in driving revenue. This segment manages specific business functions for clients, including customer service, finance and accounting, human resources and procurement. Through its global presence and operational efficiency, Wipro helps clients cut costs, enhance service delivery and focus on their core business operations. The growing demand for strategic BPO partnerships has fueled revenue growth in this sector, as companies increasingly look for ways to boost competitiveness and operational effectiveness.
Wipro - Challenges Faced
Wipro has faced notable challenges tied to the leadership changes that began in 2020 when Thierry Delaporte assumed the role of CEO. Delaporte unveiled an ambitious strategy to drive growth, focusing on high-value acquisitions and securing large-scale deals worth $500 million or more. Among the major moves was the $1.4 billion acquisition of Capco, a London-based consulting firm, designed to strengthen Wipro’s value-added services and broaden its client portfolio.
Despite the initial promise, this approach has encountered hurdles. A significant portion of Wipro’s revenue growth under Delaporte has been acquisition-driven, requiring a substantial cash investment of nearly $2 billion. The sustainability of this model has been called into question, especially as acquired entities like Capco have experienced slowdowns, raising concerns about the long-term viability of such an aggressive expansion strategy.
Wipro - Growth
Wipro's growth from FY22 to FY24 showcased resilience and innovation, with steady revenue increases:
|
Fiscal Year |
FY22 |
FY23 |
FY24 |
|---|---|---|---|
|
Operating Revenue |
INR 79,312 crore |
INR 15,387.8 crore |
INR 16,902 crore (9.8% increase YoY) |
|
Total Expenses |
$8.576 billion |
INR 12,620 crore |
INR 13,757 crore |
|
Profit/Loss |
INR 122,434 crore |
INR 1,937 crore |
INR 1,903.1 crore |
Wipro Financials
Wipro - Advertisements and Social Media
Corporate Updates
- Wipro has entered a transformative partnership with Google Cloud, focusing on helping businesses worldwide accelerate their digital innovation and modernization efforts.
Innovative Product Introduction
- In 2024, Wipro unveiled a state-of-the-art AI-driven cybersecurity platform, designed to enhance threat detection and response capabilities for organizations.
Sustainability-Focused Campaign
- As part of its latest marketing push, Wipro is showcasing its ‘Sustainability as a Service’ solution, underlining its dedication to environmental responsibility and green initiatives.
Influencer Collaboration
- Wipro teamed up with renowned tech personality Linus Sebastian to promote its new range of technology solutions, aimed at enhancing consumer engagement.
Wipro - Awards and Achievements
Innovation Excellence:
- Oracle Global Partner Award 2024: Honored for the Doctor's Payout solution built on Oracle Cloud Infrastructure.
- The Open Group India Awards 2024: Recognized for groundbreaking innovations in the energy and utilities sector.
- Intel oneAPI GenAI Hackathon: Triumphed as both winners and runners-up.
Customer Experience Leadership:
- Best BPO Award 2023: Celebrated for exceptional outsourcing services and innovative solutions.
- CX Awards 2023: Achieved runners-up and Highly Commended honors for the Customer Experience Team of the Year.
Sustainability Recognition:
- Green Electronics Brand: Ranked second among Greenpeace’s Top 5 Green Electronics Brands.
Additional Honors:
- UK Partner of the Year 2023: Awarded at the Tricentis Partner Kickoff.
- Great Place to Work Certification: Earned by Wipro Switzerland, highlighting a positive workplace culture.
- WebAward: Received for Outstanding Achievement in Web Development from the Web Marketing Association.
Inspirational Message:
Looking at Wipro's story, we see that big achievements begin with small steps and a strong drive. Even when things get tough, remember that new ideas and not giving up can turn problems into chances. Like Wipro, your journey might have ups and downs, but working hard and aiming high can lead to success.
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