Zensar's financial services focus pays off in South Africa
30 October, 2019
News | 30 Oct 2019
Zensar Technologies’ revenue from Africa grew at over 23% sequentially in the previous quarter, indicating that the RPG Group IT firm’s strategy of mining its top client accounts is paying off in South Africa, a market where the company has a dominant presence.
Sandeep Kishore, CEO, Zensar Technologies said it was increasing the number of services it was providing to top customers. “We have done exponentially well in Africa in financial services in the Top 25 accounts by getting multiple services into the same account. We are dominant in South Africa,” he said.
Currently, Africa contributes about 10% to its total revenues, with the United States being the dominant market at almost 75%.
In the previous financial year, revenues from Africa had grown at 9.5%. The number of $5 million plus clients increased from 20 to 23 in the quarter, while the revenue from the top 20 clients has grown from 56.6% in the second quarter of the previous financial year to 62.6% in the second quarter of this fiscal year. “Not just in Africa, but this strategy has worked for us across all our markets, including the USA and Europe,” he said.
As part of its strategy to deepen its presence in its top accounts, Kishore said that the cloud infrastructure vertical would be an important focus area.