As 2020 comes to an end, CNBC-TV18 puts a spotlight on companies that have delivered great wealth not only in the last 12 months but several years. One such company is Mphasis with a gain of around 70 percent in 2020.

Nitin Rakesh, CEO & Executive Director of Mphasis said that they are confident about growth being more than market growth rates.

“The total tech spend will go up probably higher than it has been in the last 3-5 years. We do feel confident about the fact that we should continue to see above-market growth, but the question really happens to be what happens to the overall shift in technology and how quickly can you adapt. We have to continue to make investments to stay ahead of the curve,” he said in an interview to CNBC-TV18.

He also believes that in terms of tech spend, 2021 should be better than in 2020. He expects the tech spend to be in the mid-single digits in 2021. Mphasis has invested ahead of the curve in quantum computing, he said.

On the deal pipeline, Rakesh said that they have seen a good expansion in the deal pipeline in the last 3-4 quarters. However, he said that conversation around the nature of deals has changed. “Our deal pipeline is up almost 100 percent in the last 12 months or so. But the conversation is much more about transformation deals,” he said.

He expects the wave of transformation of enterprises to last 5-7 years.

Watch the video for more.

(Edited by : Ajay Vaishnav)