TCS sees immense opportunities for growth as the firm now rides the new technology cycle that has kicked off, said Chairman Tata Group N Chandrasekaran.
In a note to shareholders in its FY21 annual report, Chandrasekaran said, as the company looked ahead, TCS would also invest in sharpening the capabilities needed to expand its footprint in this large opportunity.
The opportunity comes at the back of the pandemic that changed the way enterprises consume technology.
“To my mind, the year gone by saw an important inflection point that has huge ramifications on enterprise consumption of technology in the coming years, and on demand for your company’s services,” he said.
This acceleration in technology consumption including large scale migration to cloud will benefit TCS. “(It) will drive significant spending on migrating workloads to public clouds in the coming years. Moving workloads to the cloud is just the start of their digital transformation journeys,” he said.
“So we see this technology shift as the start of a multi-year technology upgradation cycle in which the abundance of native capabilities will constantly expand the art of the possible, opening up newer opportunities for technology-driven differentiation,” he said.
Gopinathan added: “It has been a difficult year for everybody. Despite the ferocity with which the second and third waves of the pandemic are now hitting us, we are in a far better place as we exit FY 2021 than we were at the start.”
However, with the work from home model that the firm has established and vaccines, which have hit the market, have put the country in a better position than when it first hit in 2020.
While the company is open inorganic acquisition, it will continue to invest in developing organic talent, he added.