In May 2007 CSC announced Project Accelerate, a strategic program that is comprised of five key growth initiatives.In May 2007 CSC announced Project Accelerate, a strategic program that is comprised of five key growth initiatives. Project Accelerate will enable CSC to better serve our customers, retain our market leadership position and deliver enhanced growth to our shareholders.
Five Key Initiatives
Commercial Outsourcing. Outsourcing has long been an important part of our business, and we will continue to invest to strengthen our position as a Tier One provider. For our largest clients, we will further strengthen our ability to deliver the services they require consistently and seamlessly across their global enterprise.
We are also investing to win a higher share of mid-size deals (contract values between US$50 and $350M). CSC has launched a dedicated sales team and we are enhancing our delivery capabilities to address this large and growing market. To serve both large and mid-size deal clients effectively, we will continue to invest in and expand our offering of outsourcing solutions.
Vertical Markets. CSC is investing significantly to offer differentiated business solutions that combine technology, intellectual property, and industry expertise to improve our customers` business results. We are focused on developing high value, technology-enabled business solutions, consulting services, and business process outsourcing offerings for our key vertical markets.
We are aligning our organization by these broad industry groups: Financial Services; Healthcare; Manufacturing, (including Aerospace & Defense); Public Sector; Chemical, Energy & National Resources; and Technology/Consumer.
We have long delivered experience and results to our customers, and with these industry-focused investments we will deliver significantly improved business value to them.
Global Presence. CSC currently operates in more than 55 countries and serves some of the world`s largest global companies. We are continuing our commitment to world Sourcing as an important value component of our global delivery model. We will continue to offer our customers the mix of on-shore, near-shore, and offshore services most appropriate to their needs. We are particularly focused on expanding our capabilities in Asia, Latin America, and Eastern Europe, in addition to India.
India Direct. Our fourth initiative is focused on aggressively growing and leveraging our India capabilities. We have launched an India Direct sales channel to address our customers` needs for pure Indian-based services and to compete directly against low-cost, offshore IT providers. We will continue to make investments to strengthen our India delivery capabilities for remote infrastructure management, applications services, and business process offerings.
To emphasize our commitment we acquired Covansys. With this acquisition CSC will have more than 14,000 employees in India, and India will be our second largest country of employment.
North American Public Sector. Our Federal Sector business has long been a leading provider of IT services to the U.S. Federal Government. We will build on its established market position by enhancing our core offerings and by investing in selected higher growth areas such as identity management and credentialing, health services, and logistics and transportation. Additionally, we will look to expand the work we do for the public sector in Canada and to build on our success with the U.S. Federal Government in the pursuit of select state and local government opportunities.
Project Accelerate: A Disciplined Acquisition Program
These five initiatives will be supported by a disciplined acquisition strategy. Our acquisition approach is focused on vertical markets and core delivery capabilities, directed towards higher growth and margin businesses, and strictly aligned with the priorities of our strategic initiatives.
A World-Wide Growth Strategy That Benefits Our Stakeholders
Project Accelerate is global in scope and it is focused on proactively addressing the needs of our customers and markets. We believe Project Accelerate has attractive benefits for all our key stakeholders.
* For our customers, we will continue to evolve to meet their needs and drive improved business value to them.
* For our employees, we will provide exciting professional growth opportunities globally.
* For our shareholders, our strategy provides a clear vision and roadmap going forward, which will target revenue growth and provide the cash flows and ROIC required to enhance overall shareholder returns. Over time, this strategy will, also, achieve balance in our portfolio across our public sector, business solutions, and outsourcing services offerings.