Mphasis Group, Wyde & Eldorado - Executive of the Year
Company: Mphasis Group, Wyde & Eldorado
Entry Submitted By: Gutenberg, New York, New York
Company Description: Gutenberg is a digital integrated marketing communications firm headquartered in New York, with 8 offices in the US, UK & India. Gutenberg’s team of 80 storytellers includes digital ninjas, authors, editors, playwrights, filmmakers, brand wizards, PR mandarins, SEO buffs, programming geeks, and sociologists.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Business & Professional Services
Nomination Title: Rajesh Makhija, CEO of Wyde & Eldorado; Chief Marketing and M&A Officer - Mphasis Group
Tell the story about what this nominated executive has achieved since January 1 2016 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. TEXT REDACTED FOR PUBLICATION
Rajesh Makhija heads the Product Portfolio Group within Mphasis. The group comprises of Wyde & Eldorado, two independent software product units within the Mphasis Group. These business units cater to the life and healthcare insurance markets. As the CEO of these organizations, Rajesh focuses directly on company strategy, innovation, marketing and operational efficiencies.
In addition, Rajesh is also the Chief Marketing and M&A Officer for the Mphasis Group. He is responsible for global marketing & communication activities including brand management, market development, corporate communications and media relations. As M&A head, he is responsible for all acquisition and divestiture from the Mphasis Group. Rajesh has more than 24+ years of experience in technology domain and has been with Mphasis for 15+ years.
2016 was a particularly spectacular year for Rajesh with innovative & disruptive approaches transforming the portfolio.
Eldorado offers health insurance application development, platform engineering, BPO services and operational consulting through its platform products, Javelina and HEALTHpac.
Since becoming Eldorado’s CEO in 2015, Rajesh set Eldorado unit on a path of growth trajectory. During this time, Eldorado EBITDA increased substantially and the trend continues for FY 2017. This was primarily achieved through digital automation and business process re-engineering.
Revenue growth remained consistent, with newer digital & functional investments in product R&D to keep pace with increasing consumerization of the healthcare industry. The customer base for the Eldorado’s policy administration software platform “Javelina” increased substantially. This led Eldorado to have a cloud based recurring revenues every year, setting the platform for profitable growth in years ahead.
Wyde is an international software vendor and creator of Wynsure - an insurance policy administration solution used by many of the leading insurance carriers in North America and Europe. Some of Wynsure’s key customers include tier 1 companies from US & France
In 2016, Rajesh successfully completed a re-brand of Wyde by introducing next gen solutions enabling insurance companies to go direct to end customer rather than treating them as secondary with distribution channels (i.e. agents & brokers as primary).
Rajesh transformed Wyde from an organization with muted growth to the one with a growth trajectory. He achieved this through:
1. Reoriented GTM towards accounts to enable sustainable revenues
2. Launched Wynsure on cloud and delivered as a service model and launch of front office solutions generated considerable revenue growth. Added three tier one clients to its cloud based offerings.
3. Strengthened the sales engine to drive revenue growth higher than the industry average of 15% YOY.
As Chief Marketing Officer, Rajesh has transformed marketing from a back-office function to a business enabler with the primary focus on building strong relationships with key clients. He achieved this through:
• In collaboration with Knowledge@Wharton, Mphasis hosted two events & seminars in the U.S. for key c-suite executives from industry leading organizations. All conversations were launched as an eBook “Becoming Digital: Strategies for Business and Personal Transformation” by Mphasis and Knowledge@Wharton
• Mphasis partnered with Wharton and Fortune to create a new series “Unleash Your Personal Next” to uncover the DNA of CEOs who are successful in the digital era
• Increased social presence of Mphasis impacting the Klout score from 29 to 67. Under his guidance, LinkedIn followers touched 100K. Current number of blogs stand at 100+ with 5 blogs published every month.
In addition to the above, Rajesh was instrumental in Mphasis being awarded as the ‘Digital Company of the Year’ award by The Economic Times.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2016.
1. Led Eldorado to the highest profit making unit
2. Led recurring revenue growth for Eldorado through cloud based model and considerable increase in Javelina client base
3. Led growth in strategic accounts for Wyde; higher than industry average (14-15%)
4. Led the launch of Wynsure on cloud that saw three Tier 1 clients
5. Partnered with Wharton and Fortune for new series “Unleash your Personal Next” aimed for CEO’s who are successful in the digital era
6. Formed a customer advisory group “WydeGuides” in North America.