NIIT Technologies bets on customer experience for growth in the digital age
PAC attended the European Analyst Day of NIIT Technologies and discussed the company's growth ambitions, strategy and current developments with its executive team. The key takeaway from the event is the company's prime focus to go an extra mile with their customers, be it on-premise or off-shore.
The strategy even comes with a name, 'Emotionally Empathetic Experience', that not only focuses on the direct customer experience but also on the "customer's customer" experience. The best indicator of this strategy bearing fruits for NIIT Technologies is its growing list of customers with whom it has long standing relationships, some of which are going back more than a decade. With a high level of trust developed over time, these relationships continue to expand, e.g. from software development or infrastructure outsourcing originally, to support in innovative digital transformation initiatives today.
NIIT Technologies states it has two major success factors: its solutions and its people. The former is tailored around speeding up the digital transformation processes of its customers, in which its smart automation offering called Tron plays a major role. The latter, on the other hand, assumes close, trust-based relationships of its associates with the customers to make sure that customers are getting the most of NIIT's solutions and services. The impressive customer testimonials presented at the event illustrate the success of NIIT's approach.
According to its CEO Arvind Thakur, NIIT Technologies needs to increasingly focus on supporting the digital transformation because the demand surges and customers are putting more and more investments into digital initiatives. The company is well on its strategic journey transforming from a labor-arbitrage approach towards a positioning as a 'services with product mindset' provider. Key principles in this are long-term, trust-based client relationships, focus on user-centric design and experience, co-innovation initiatives as well as lean and automated delivery.
Being a mid-sized player in the IT services market is not easy especially in the digital age, when all of its bigger peers with larger delivery networks are also playing the same digital game. However NIIT Technologies selects its topics carefully and primarily focuses on a handful of sectors, including financial services, insurance, travel, transport and media industries.
Clients in these sectors have many customers themselves and NIIT's strategy to focus on the end customer experience can turn out to be a fruitful one. Furthermore, investing in solutions and use cases based on the Internet of Things will be one of the important growth factors, especially in asset heavy industries such as transport. Also, further investments into capabilities around growing technologies such as ServiceNow and AppDynamics is an avenue to explore for NIIT technologies in order to reach the next milestone of its growth.