IT company Hexaware Technologies states that it is moving beyond traditional efficiency improvements by using artificial intelligence (AI) to eliminate business bottlenecks and capture market share from existing Software as a Service (SaaS) providers.
The company's CEO, R. Srikrishna, told Business Standard that by 2029, the company aims to increase its revenue to $3 billion, up from the current approximately $1.5 billion. This growth will be driven by several factors: AI-driven transformation, expansion into West Asia, increased technology sector share, and private equity partnerships.
According to Srikrishna, AI makes it possible to eliminate the need for SaaS, opening up a new market for the company. The company asserts that the core value of AI lies in creating entirely new business opportunities. This is achieved by helping clients achieve 'infinite momentum' in their business through the implementation of the Zero Friction Enterprise delivery framework, which is designed to resolve operational and technological barriers slowing down enterprise operations.
Zero Friction Enterprise aims to eliminate six key points of operational friction, including zero vulnerability, zero technical debt, zero backlog, zero tickets, zero defect rate, and zero licenses. Srikrishna emphasized that 'zero licenses mean abandoning dependence on SaaS products. SaaS is not only expensive but also creates dependency on someone else for changes. If you need a new feature, you have to wait for your SaaS provider's release cycle, which slows you down.'
He also noted the sharp decline in the stock prices of companies providing SaaS. 'I think companies will act differently, but ultimately they will have to lower prices as a defense,' he added.
Currently, 72–73 percent of the company's revenue comes from the US market. Meanwhile, the company is prioritizing the growth of its presence in the Asia-Pacific region, especially in West Asia, India, and Australia. Srikrishna clarified: 'We have set an ambitious goal of $3 billion in revenue by calendar year 2029, including acquisitions. We expect the West Asia market to play a decisive role in this.'
Furthermore, he stated that AI will lead to a fundamental change in enterprise IT budgets. 'While corporate budgets traditionally were divided between human labor, software licensing, and cloud infrastructure, AI tokens are emerging as a critical fourth pillar. Tokens will have the biggest impact; all customers will have a new expense line item called tokens.'
Hexaware's AI-driven and human-intelligence-enhanced delivery model relies on Zerovity—an AI delivery layer for managed coordination across the enterprise. Zerovity covers all processes: from migration and modernization to agent software development, AIOps, releases, cloud operations, and enterprise workflows, creating a unified dashboard in areas that often operate in isolation.
The Zero Friction Enterprise concept provides clients with a unified way to solve limitations that are usually handled through separate initiatives, helping them focus on core priorities and turning frictionlessness into infinite momentum. Srikrishna concluded: 'Our vision is to help every client become a Zero Friction Enterprise. It starts with a deep understanding of each client so they feel like our only client. Then we can identify the limitations slowing down progress in their business and technology space and eliminate them with the right combination of AI, experience, and judgment.'