Hexaware Bets AI Can Replace Some SaaS Software
Summary
Hexaware Technologies is trying to turn AI into a way of replacing some licensed enterprise software with faster, cheaper custom-built systems. Chief executive R. Srikrishna said the company sees a large opening in the global SaaS market, while also acknowledging that regulated customers and firms tied to established platforms will keep buying conventional software.
Business Impact
The strategy cuts both ways for Hexaware. Six “zero” pillars under its new Zerovity platform could open fresh work in areas such as Zero License, but Zero Tickets, Zero Defects and part of Zero Backlog may also reduce revenue from existing services by making the same work cheaper to deliver. The company is betting it can make up for that deflation by moving into new lanes of work before rivals do.
Counterpoints
Hexaware says the strongest opportunity is not the whole SaaS market but narrower areas such as sunset products and low-code or no-code use cases, where clients are more willing to build.
The company also says some AI costs are borne by customers because its teams often work inside client environments, so its own budget may not fully show the expense of the shift.