I blogged earlier this month about how HCL was the fastest growing of the Indian suppliers.
HCL Technologies reported global revenue of $2.186bn in 2009 which was 27.6% more than the $1.713m in 2008. It is now the 60th biggest global player in revenue terms.
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HCL says its success is down to its business transformation, which included broadening its portfolio and empowering its staff.
If my praise was not enough Datamonitor now says HCL Technologies was number one in traditional IT outsourcing space 2009-10 in The Black Book of Outsourcing.
I have spoken to lots of people since and it seems, in terms of organic growth, Cognizant was the best and HCL benefited from its acquisition of SAP supplier Axon.
Cognizant grew revenues were $3.146bn in 2009 compared to $2.703bn in 2008. This was a 16.4% increase. It is ranked 42 in the world.
Lee Ayling, UK managing director at sourcing consultancy Equaterra, says HCL and Cognizant are doing well for different reasons.
“Cognizant is is being aggressive in Europe ion the traditional application space and doing a good job. HCL is going for a broader portfolio.”
He says there is room for growth. “They are both seen as new entrants in some of the markets dominated by the big Indian and US suppliers.”