“CSS Corp sees a bright spot with Manish Tandon “
CSS Corp, majority owned by PE firm Partners Group, said it is seeing a turnaround with a larger deal pipeline for the next few years. The IT services company said it has reported nearly 11% growth in revenue end of financial year 2017-18 to $158 million.
This has brought the company back on growth track ever since former InfosysNSE 3.18 % executive vicepresident Manish Tandon took over as the chief executive officer in August 2016. Tandon left Infosys as one of the leaders in healthcare, life sciences, insurance and HiTech business segments.
“Last year we had reported better than industry growth at (nearly) 11% and we had inherited declining revenue when I came in six quarters ago.
There has been a turnaround in our services business. We have added 20 new logos (customers) in the history of CSS including some marquee names in technology (sector),” said Tandon in an interview. He said CSS Corp has a deal pipeline worth $400 million in total contract value spread over next few years and seeing large deals vary between $8-10 m “We get two or three such (large) deals in a year and one in a quarter is good. Normally our average deal size is $1 to 2 million,” added Tandon.
CSS Corp, which gets 90% business from the US market, is focusing on outcome-based projects. The company said it has significantly brought in automation and artificial intelligence in services delivery.
Tandon said that the focus on outcome-based projects have created a level-playing field for the industry. “We compete on outcome and our win rate has been 50-55%.” In fact, he pointed out, a CSS Corp often sees companies like Tech MahindraNSE 1.89 % to a boutique technology service player as competition in certain deals .