IBM’s managed infrastructure services spin-off Kyndryl, in a year after divestiture has doubled its total addressable market with new hyper scaler partnerships, increased its customer base and is seeing signs of improvement in the business, according to Lingraju Sawkar, President of Kyndrl India.
Kyndryl has completed the first year of operations after the spin-off. In the first year of its independent journey, Sawkar says the company focused on carrying customers forward by making sure that the service delivery continues at the same scale.
Aside from transforming itself digitally, it also helped accelerate the digital transformation of customers, who were also changing their business models.
The company has seen existing customers extend contracts, give business in newer areas, and new customers getting on board. It has also managed to attract a good set of talent pool in the market, Sawkar added.
Sawkar told businessline, “We have seen green shoots of the efforts that we have put in the last year. It’s still a journey and not a destination, we are on a good path and are buoyant and positive about the future as we look ahead.”
Post the spin-off, Kyndryl got the freedom of choice and freedom of action. It has partnered with Google Cloud, AWS, and Microsoft Azure.
One-third of Kyndryl’s approximately 90,000 global employees are based in India.
Sawkar says the ‘Kyndryl for India’ mission focuses on working with customers in India to enable them to be at the cutting edge and manage mission-critical applications.
The company works with a majority of telecom, automotive, healthcare, and banking players in the country.
Another mission driven from here is ‘India for Kyndryl’, which positions the country as an innovation hub for global customers through client innovation centers.
The Indian talent pool develops platforms, builds new capabilities, and runs various services for enterprises, Sawkar said.
Globally, Kyndryl reported 3 per cent revenue increase to $4.3 billion in constant-currency terms for the third fiscal quarter. The net loss stood at $106 million, in contrast to a loss of $731 million in the same period last year.