Vendor Analysis
published on Aug 30, 2018
Report Overview:
This NelsonHall assessment analyzes Tech Mahindra's offerings and capabilities in Blockchain Services
Who is this Report for:
NelsonHall’s blockchain services vendor assessment for Tech Mahindra is a comprehensive assessment of Tech Mahindra’s blockchain offering and capabilities, designed for:
- Sourcing managers investigating sourcing developments within blockchain
- IT and process decision makers exploring the benefits and inhibitors of blockchain as evidenced from the clients and vendor capability
- Vendor marketing, sales and business managers developing strategies to identify developments and target opportunities within managed service programs
- Financial analysts and investors specializing in, or covering the blockchain industry and suppliers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Tech Mahindra’s blockchain offering, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments in both its service and technology
- Analysis of the company’s strengths, challenges, and outlook
- Revenue
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s key offerings (service model and service components)
- Analysis of the company’s delivery capability (including the location, size and scale of delivery operations; and delivery via technology).
Key Findings & Highlights:
Tech Mahindra's blockchain progress followed three phases. Incubation and capability buildup characterized the firm's activities during the startup of its blockchain unit in 2015. Acceleration took the firm through 2016-2017, during which the company's blockchain unit successfully stood up its first PoCs with a major Indian bank and a FMCG firm. During this period, the organizational Blockchain Business Unit was built out to its current staffing levels of 150+. 2018-2021 is earmarked for "market leadership pursuit."
In its capability buildup phase, Tech Mahindra focused on building its blockchain Design Studios, acquiring blockchain development and consulting personnel, reskilling and upskilling its existing workforce, and building horizontal platforms. 2016, then, marked the beginning of the company's acceleration phase, which included Blockchain Business Unit buildout. During this phase, Tech Mahindra signed its first POC - with a FMCG client - and achieved its first production-grade live implementation of blockchain technology with an Indian Bank. Through 2021, Tech Mahindra intends to grow its blockchain unit to a ~$1bn business, and fully integrate blockchain into its core lines of business.
The firm has 150+ dedicated blockchain headcount as of the second quarter of 2018, split among consultants, UI/UX developers, technical architects, blockchain project managers, domain SMEs, and chaincode developers.
Tech Mahindra does not disclose its blockchain-specific revenues, but NelsonHall estimates its revenue from blockchain projects at $5m for 2017.