Managing Director Rekha Menon on Accenture's progress in India
Speaking to Fortune India, Accenture India’s Managing Director Rekha Menon has elaborated on the firm's domestic journey from being a low cost service provider to an industry expert in the digital domain. Accenture India plans to groom its talent to further develop this position.
The Indian business environment has long embraced the Industry 4.0 paradigm, and Accenture has become a household name when it comes to digital services. The global firm has developed a substantial pool of digital expertise, and has evolved in tandem with other IT firms in the country.
Where IT services firms were previously positioned to support with IT infrastructure and maintenance, their role in today’s business environment has become a central one. The wide range of digital advancements that are reshaping business landscapes is turning digital firms into strategic enablers.
As a result, IT services companies have shifted their focus from basic structural support to a more advisory and implementation role in tech-heavy domains such as Internet of Things (IoT), artificial intelligence (AI), machine learning and big data.
Together with IT services companies such as Infosys, Tata Consultancy Services (TCS) and Wipro, Accenture was quick to capitalise on emerging technologies, even managing to outpace its Indian-origin digital rivals.
According to its accounts, Accenture added $4.7 billion in incremental revenue in the financial year ended August 2018, which roughly equates to the combined $4.8 billion new revenue generated by Cognizant, Infosys, HCL Tech, TCS and Wipro.
Now, emerging technologies – comprising digital, cloud computing and cyber security – account for some 60% of the firm's full-year revenue, compared to between 22% and 25% at homegrown IT firms.
The role of dedicated digital centres of excellence has been a key strategy of the capacity ramp-up, said Menon. “When everybody said that a multinational company like Accenture could not do what Indian pure-play players like Infosys, Wipro had done, we went ahead and successfully set up delivery centres.”
The firm also last month established an Experience Activation Network in Mumbai, aimed at bolstering its creative and digital innovation capabilities.
Deepening its ties with the startup environment in India has been another success factor. Accenture for instance teamed up with Microsoft last year to support technology startups in India with their growth.
“Not only have we taken a number of startups to our global clients, but we also use them to disrupt our own businesses in order to stay ahead of the competition,” elaborated Menon.
According to business magazine Fortune, Menon is playing a key role in Accenture’s growth in India. The publication recently ranked Menon as the 16th most powerful woman in the country.
