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Indian IT services provider Hexaware has unveiled its new UK headquarters at Canary Wharf, as the company further consolidates its presence in the UK market. I recently caught up with Parameshwaran (Param) Iyer, Senior Vice President and Regional Head – UK and Ireland, and Amrinder Singh, President and Head - EMEA and APAC Operations, to understand more about the tech supplier's plans for future growth.
Hexaware’s UK business has expanded substantially over the past 10 years, transforming from a c.£10m operation to a £150m business, with the company achieving a 25% CAGR over the period. In particular it has found strong traction in banking and financial services (c.50% of revenues), Healthcare (c.15% of revenue) and manufacturing and retail (c. 30-35%). The firm employs c.650 employees in the UK, which equates to around 20% of its UK delivery capability, with remaining resources distributed across nearshore locations in Warsaw and Romania, and offshore centres in India and the Philippines. Hexaware also operates a Birmingham delivery centre with c.120 staff providing technical support services.
Leading the UK charge is Parameshwaran "Param" Iyer, who assumed the role of Senior Vice President and Regional Head for UK and Ireland earlier this month after 21 years with the company, previously spearheading UK growth in the banking, financial services and healthcare verticals. Looking ahead, Param highlighted the business is aiming to also expand its UK public sector presence, which currently comprises around 5% of the business, with a target to grow that to around 15-20%. The utilities market has also been an area the business has found strong traction, working with clients such as Yorkshire Water and Thames Water.
Hexaware is positioning itself as a “modernisation and transformation catalyst” rather than merely a supplier providing staff augmentation. They aim to have 50% of services delivered through digital labour by 2030, focusing on implementing AI and automation across all service lines. "We've not tried to centralise AI and GenAI because every division and department is doing something on AI" explained Param.
The business has also developed a number of proprietary platforms including Tensai for AI/automation delivery, Amaze for cloud modernisation, and RapidX for digital engineering. Further investment into its UK operations are also planned we were told, and despite current market headwinds (which has resulted in faltering growth for many of its competitors), Hexaware is still projecting sustained 20-25% annual growth in the UK.
Posted by: Simon Baxter at 09:38