Radical shift in the way tech is consumed now: Mphasis CEO

And so instead of waiting for them to change the way they consume technology, we are helping them make that change, he said, adding Mphasis is helping enterprises build new applications that are cloud-native and systems are available and resilient.

The information technology sector is moving much faster to a rental model from ownership, and the segment is monetising this at a fast pace, a top official of IT solutions provider Mphasis has said.

This fast-emerging trend is opening up more avenues for cloud and emerging technologies, according to Mphasis chief executive Nitin Rakesh.

He, however, warned that companies need to keep in mind that they are on the right side of the trend though.

''The entire value chain of IT consumption is moving away from a fixed mode of consumption on my-premises with my-capex to a variable mode of consumption off-my-premises with operating expenses model.

''This migration is seen in every aspect of technology, on-premise-as-a-service, software-as-a-service, infrastructure-as-a-service, security-as-a-service and network and data,'' Rakesh said here on Thursday.

This shift is spawned by the fact that almost everything is available on demand now because you don't need to own those assets, but you can rent them, Rakesh explained.

This is the reflection of tech consumption by large enterprises. If they change the way they consume tech, they will change the way they consume services too. And so instead of waiting for them to change the way they consume technology, we are helping them make that change, he said, adding Mphasis is helping enterprises build new applications that are cloud-native and systems are available and resilient. There is a gap between digital natives and traditional enterprises, which is a huge tailwind for our business, he said, adding cloud and data are the general themes for enterprises.

Rakesh also said Mphasis, which is majority-owned by the US private equity firm Blackstone, is scouting for inorganic opportunities. ''One part is to buy capabilities that can tuck in, and another is as the euphoria in the market settles down a bit we will see some interesting valuations globally. These could be a new vertical, a new geography, a service line or could be an addition to our existing service line,'' he said without offering any more details.

The company also provided an Rs 18-crore grant to Ashoka University under its corporate social responsibility initiatives wherein it will help the private varsity strengthen its tech ecosystem for interdisciplinary innovation and industry-academia collaboration by co-creating an advanced computing lab, a startup incubator, and summer boot camps for students.