Multi-million and multi-year deals are back-both for first-timers and mature outsourcers

With IT budgets tightening and global uncertainties rising, multi-million, multi-year outsourcing deals are making a comeback.

- Pratima H

Srinivas Rao, Executive Vice President & Chief Business Officer, LTIMindtree spells out the contours of IT outsourcing in a climate of tightened IT Budgets, geo-political turmoil and emergence of new hot regions beyond staple segments like the USA and Europe. Are Indian IT Majors adapting fast with new offerings, regional pivots and niche practice-verticals? Let's find out.

LTIMindtree has recently inked a multi-million dollar contract extension with Absa Bank- an African financial services group. How crucial are such contract renewals?

These contract renewals are extremely critical for organisations like LTIMindtree as it demonstrates continued partnership with our strategic clients. They also help in exploring opportunities for further optimisation and enhanced business value for our clients while maintaining steady and predictable business for us.

Are multi-million and multi-year deals back in the IT landscape?