Happiest Minds bets on IP-led revenue to drive growth
- ByStartupStory | October 21, 2021
Happiest Minds Technologies Ltd is investing heavily in intellectual property (IP) revenues to complement its services and drive growth. Currently, IPled’s revenue contributes about 10% to the total revenue of the Bengaluru-based IT services company.
“We are essentially a service company, not trying to be a product company. So our IP addresses are intended to be designed to support the services we provide to our customers,” said Sridhar Mantha, CTO, Happiest Minds in an interview.
In many cases, Happiest Minds helps customers define their needs, involving various new technologies on the market. “In such situations, we have to create our own products or solutions or solution accelerators in advance… only then can we help our customers with the solutions they want to develop and integrate our IP addresses into them. said Mantha.
Since its inception in 2011, IPled monetization has been one of the key elements of Happiest Minds’ vision, said Mantha. “The reason we call them IPled is that we are essentially a service player and our IPs are an integral part of it, which can generate additional revenue.
Mantha cites an example of an IP-led anomaly detection solution that Happiest Minds has built that can capture deviations from certain data models. The solution was created using statistical algorithms and machine learning. “This concept applies to all industries in multiple areas and the solution is independent of a vertical solution or a solution and this component can be integrated as part of the larger solution we are building for our customers in terms of security in each solution room,” he said.
As part of developing a technology roadmap for the future, Happiest Minds has established a “Technology Council” where the team is responsible for monitoring the technology horizon and anticipating the changes that will take place over the next 35 years. “It helps us assess how prepared we are and what else we should be doing. Every year we continuously evaluate new technologies that are coming … based on this, business strategists will use them as input for the entire company and formulate their strategy depending on where the demand comes from in the future. The company is currently working on emerging technologies such as blockchain, computer vision and drones.
It already has Centers of Excellence (COE) in three different areas involving the company’s senior executives. These three COEs include: Internet of Things (IoT); analytics and artificial intelligence (AI); and automation, including robotic process automation (RPA) targeting low code and no code platforms.
“The centers of excellence focus on the end-to-end spectrum of technology… We keep looking at things that are older than five years… But we don’t know that yet because neither of us has a crystal ball… Quantum computing and other fields will emerge in the future,” said Mantha.
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