Zensar Technologies is an organisation focusing on providing cutting-edge digital solutions and services by leveraging technological innovation and living digital. The Company is backed by the USD 3 billion RPG Enterprises and the USD 40 billion APAX Portfolio Company. Zensar Technologies is one of just five technology companies to be listed on the Bombay Stock Exchange for over 54 years.
253 active clients in FY18; 63 of Zensar’s clients were USD 1+ million companies; 13 of Zensar’s clients were USD 5+ million companies
We embarked on an ambitious journey towards becoming synonymous with everything digital. It gives me great pleasure to see Zensar transform itself seamlessly, placing its eco-system at the center of this change.
Overall, the industry has been showing signs of multiple volatile forces impacting the growth curve. Our key regions of USA, UK and South Africa did see some changes, which we were able to anticipate in advance, enabling us to take suitable measures to mitigate them. We will continue keeping a close watch on the ensuing changes, to arm us with the flexibility needed to make changes where required.
High-level disruption is driving change around us, and we need to be ready to leverage this as a catalyst. One of the clear ways to do that is to add to our offerings through well-planned acquisitions. Cynosure, a Guidewire Partner in the area of Property and Casualty Insurance, was acquired in FY18, increasing our opportunities in the insurance sector. Our earlier acquisitions of Keystone and Foolproof have been integrated into the larger strategy, bringing in new customer relationships.
I am excited and honored to share with you our achievements this past year. Zensar is now a 100% living digital entity, gaining prominence as an exceptional solutions provider in our industry. Over the past two years, we have made huge strides and progress in our quest to become 100% living digital.
Zenlabs, our innovation hub in Pune, was launched at the beginning of FY18 with a clear charter: to build real-world, customer-focused solutions across next generation technologies. The technology of tomorrow is here today and will one day be standard procedure. We have arrived early. We have rolled up our sleeves and dived in to become a valuable partner to our customers. With Zenlabs, we are able to work deep within the research ecosystem by creating partnerships where bright minds live — in universities and startups. We have expanded Zenlabs to Hyderabad as we saw the immediate value of opening access to customers and employees to co-create and collaborate. We have already filed 25 patents across our research team. This is reflective of the technical adroitness of our leaders at Zenlabs.
We have strengthened our client-facing teams across Sales, Presales, Delivery, Practices and Zenlabs to accelerate growth. Customer response is positive, underlying that our initiatives are in the right direction. We are leveraging our industry alliances to build new business opportunities. Simply put, Zensar is poised to outperform competitors across multiple levels.
In FY18, we won two of our largest deals in company history. The first is a USD 100 million TCV win with a Fortune 100 company in the new area of Business Operations to drive higher business impact from their campaign and asset management. The second is a USD 79 million TCV win with City of San Diego in our Cloud and Infra services businesses. Overall, we won USD 400+ million TCV of new business from existing and new customers all due to the efforts of our determined teams across the globe.
The year gone by, also saw the Company successfully partner with customer(s) on their automation journey with live bots helping streamline operations of few key brands across the UK and South Africa. The Company managed to create new in-roads into blockchain implementations as well as new work has been done in the space of Machine Learning and Artificial Intelligence. This exercise has helped the Company, become better advisors and consultants to the customers.
FY2017-18 has been a year wherein a lot of what was started two years ago came together. The Management brought in new things to the Company, some for the first time and worked towards creating a more engaged workplace.
Company, with its experience in delivering excellence and superior client satisfaction through myriad technology solutions, is uniquely positioned to help them surpass challenges around running their existing business most efficiently, helping in their legacy transformation, and planning for business expansion and growth through innovative and digital ways.
The Company is strategically spread across global locations. The presence in US, Europe, Africa, MiddleEast, India and APAC enables the Company to be nearer to its customers, ensuring that the Company can be their partner seamlessly.
Investments in strengthening pre-sales and sales teams across all regions has helped the Company make significant in-roads into new opportunities. The Company also won, one of its largest customer wins from the US region recently, made possible by excellent team work, collaboration and focused approach. The Company is well positioned to take the next leap in building longterm relationships with global customers.
There were political influences that will have a long ranging impact on how technology led companies do business in few regions, but the Management has planned to ensure that it continues to keep itself open to change and new opportunities.
In the last two financial years, Company has been focused on growing its business in the context of everything digital as that carries the maximum potential for growth. To this end, digital business has consistently grown to contribute to overall business. The Company will continue to build solutions and deliver on this successful strategy going forward.
The Company created one Retail Go to Market team in the US. All the competencies of the Company were brought in one place in the form of Central Practices Organization (CPO) to drive market aligned solutions. The Company created emerging practices in CPO that is expected to grow with 30% CAGR and will own all solutions and delivery for them to ensure complete accountability.
This year has been noteworthy for the numerous mentions in several analyst reports and studies. Having been featured across multiple service lines and solutions, underlines the credibility the Company brings to the business. Its name found prominence in the list of trustworthy companies to partner with, strengthening image across existing and prospective customers. In fact, Company was featured in 7 Gartner reports in about last 12 months or so, which is a feat to be proud of.
In FY2017-18, Company has 2 customers in the USD 20 million segment, followed by 2 customers in the USD 10 million, 13 customers in the USD 5 million segment and an encouraging 63 customers in the USD 1 million segment.
Zensar Technologies Annual Report 2018
My note: There are some companies you feel like buying just by reading the annual report, checking valuations and looking at recent results. This is one of them. Management is very optimistic in the Annual Report. Let’s see if they deliver.