India's BPO story continues to bring cheer despite the economic slowdown. And Genpact is the leader of the pack in the Indian BPO space.
According to Nasscom, the Indian IT-BPO industry (including domestic market) recorded an overall growth of 28 per cent (currency adjusted), clocking revenues of $52 billion in FY07-08 up from $39.6 billion in FY06-07. The BPO exports are up by 30 per cent (in US dollars), registering revenues of $10.9 billion.
Genpact was born in 1997 as the India-based business process operations for GE Capital. In 2005, with equity investments from General Atlantic and Oak Hill Capital Partners, it became an independent company and was rebranded Genpact. It is India's No. 1 BPO firm.
Genpact manages business for companies around the world with a network of more than 30 operations centres in nine countries. Genpact offers services in finance and accounting, collections and customer service, insurance, supply chain and procurement, analytics, enterprise application and IT infrastructure.
Headed by Pramod Bhasin, the company had a staff strength of over 34,300 employees as on March 31, 2008. Its revenues for the year 2007 stood at $822.7 million.
Accolades won by Genpact
'No.1 Best Performing BPO' and 'No.3 Leader in Human Capital Development' by Global Services magazine, in 2008
Top 10 in IAOP's 'Global Outsourcing 100' list, 2007-08
'Top 10 Employer' distinction, Dalian, China, 2006-08
'No.1 ITeS-BPO Company' in India by NASSCOM, 2005-08
2. WNS Global
WNS Global serves several industries, including travel, insurance, financial services, healthcare, professional services, manufacturing, distribution and retail. Warburg Pincus is the majority shareholder in WNS Global Services.
The Nasdaq-listed company with more than 9,000 professionals was set up in 1996. Neeraj Bhargava is a co-founder of WNS (Holdings) Ltd and group chief executive officer. It posted a quarterly revenue of $116.1 million for the fourth quarter ended March 31, 2008, up 4.9 per cent from the corresponding quarter last year. Its revenues stand at $459.9 million, up 30.5 per cent from fiscal 2007.
Accolades won by WNS Global
Nasscom ranking: No. 1 BPO Company for the year 2005
NeoIT Global Survey: No. 1 'Best Performing' BPO Company / No. 1 in Human Capital
3. IBM Daksh The five-year old IBM Daksh was created by four profesionals -- Sanjiv Agarwal, Pawan Vaish, MJ Aravind and Venkat Tedanki -- who saw a great opportunity in the business process outsourcing space. With no business model to follow, it was a big challenge to set up the company.
IBM Daksh is known for a good leadership, a focussed vision and an undying passion. In April 2004, IBM Corporation acquired Daksh e-Services to serve as a global hub to manage business processes for clients from across the world.
With 14 service delivery centres in India, IBM Daksh has more than 36 centers around the world. Today IBM Daksh employs more than 20,000 people. Pavan Vaish is the chief executive officer of IBM Daksh Business Process Services. A co-founder of Daksh eServices, he has been with the organisation since January 2000.
Accolades for IBM Daksh
Frost & Sullivan Contact Center Outsourcing Vendor of the Year 2007
Most Respected BPO Company in India(BusinessWorld)
IBM Daksh tops the 2007 Global Outsourcing 100
4. Aditya Birla Minacs Worldwide Aditya Birla Minacs is part of the $24 billion global conglomerate, the Aditya Birla Group. Aditya Birla Minacs was formed when Minacs, Canada's leading BPO company, and TransWorks, the BPO arm of Aditya Birla Group, joined hands to become a leading global business process outsourcing player.
Aditya Birla Minacs clocked revenues to the tune of $392 million (or about Rs 1,575 crore) till March 2008, a 17 per cent rise over the previous year's $335 million. With over 26 years of experience, Aditya Birla Minacs offers BPO solutions for Fortune 500 clients. Minacs has more than 12,000 employees at locations in North America, Europe and Asia.
It serves clients in automotive, banking, financial services, insurance, telecommunications and technology verticals. Dev Bhattacharya is the managing director for Aditya Birla Minacs Worldwide Ltd, a subsidiary of Aditya Birla Nuvo.
Awards for Aditya Birla Minacs Worldwide
Dataquest (annual Top 20 BPO listing) - Ranked as India's No 2 BPO company
NASSCOM 2006-07 - Ranked as India's third largest BPO, based on export revenues
NASSCOM - Among Top 100 IT innovators in India IT People Group
5. TCS BPO TCS BPO is one of the leader players in the outsourcing industry. It offers services in areas such as finance and accounting, banking, HR outsourcing, KPO, insurance, payroll, healthcare, telecom, media, travel and entertainment.
TCS operates from more than 41 countries and has more than 155 offices across the globe. Its head office in India is located in Bangalore. It has branches in Mumbai, Gurgaon, Goa, Hyderabad, Pune, Lucknow and many other places in India.
While Tata Consultancy Services is India's top software company, TCS BPO established a stronghold in the BPO space. The TCS group posted a consolidated net profit of Rs 1,290.61 crore (Rs 12.90 billion) for the first quarter ended June 30, 2008, an increase of 7.3 per cent compared to the year-ago period.
Accolades for TCS BPO
In 2006, TCS BPO was named as one of the world's top BPO providers by the International Association of Outsourcing Professionals.
6. Wipro BPO Wipro BPO has carved a unique position in the outsourcing industry. In 2002, Wipro took a quantum jump in the BPO services by acquiring the then Spectramind. Wipro BPO Solutions, complements the services offered by Wipro Technologies, making it one of the largest BPO service players.
The company with over 19,000 people, operating out of 9 different locations (India and Eastern Europe) serves clients across the globe. Wipro BPO clientele spans across banking and capital markets, insurance, travel and hospitality, hi-tech manufacturing, telecom and healthcare sectors. T K Kurien heads Wipro's BPO operations.The IT services revenue for Wipro Technologies stood at Rs 4,405 crore(Rs. 44.05 billion), a YoY growth of 39 per cent.
Accolades won by Wipro BPO
Wipro BPO & Cairn India declared winner at the first annual 'FAO Research Awards of Distinction'
Wipro BPO has been rated as a Best Employer in India in the Best Employers Hewitt Survey for 2007
Wipro BPO is the winner of the 2007 Global BPO Standard Bearer by IQPC
7. First Source Firstsource (formerly ICICI Onesource) is a leading global business process management company. Founded in 2001, the company is ranked third in BusinessWeek's 'Hot player' list of offshore outsourcing companies.
The company has 17,000 employees in centres across India, the United States, the United Kingdom, Argentina and the Philippines. Ananda Mukerji is the managing director and chief executive officer. Its revenues for the year ended March 31 2008 stood at Rs 12,988 million, up 53.3 percent compared to the previous year.
Accolades won by First Source
Ranked among the top 10 ITES companies by NASSCOM, 2007
National Outsourcing Association (NOA) award for best Telecom outsourcing project, 2007
8. Infosys BPO Infosys BPO Ltd, the business process outsourcing subsidiary of Infosys Technologies, was set up in April 2002. Today, it is ranked among the leading BPO companies in India by NASSCOM, Dataquest, the International Association of Outsourcing Professionals, Red Herring, FAO Today and NelsonHall.
Infosys BPO focuses on integrated end-to-end outsourcing through lesser costs. Infosys BPO operates in India, the Czech Republic, China, Philippines, Poland, Bangkok, Mexico and employs about 16,295 people. It closed FY2007-08 with revenues of $250.3 million.
Accolades won by Infosys BPO
Infosys conferred 'Provider of the Year' award by FAO Today in 2008
Listed among top BPO companies in Dataquest, the International Association of Outsourcing Professionals, Red Herring lists
9. HCL BPO HCL BPO, a division of HCL Technologies Limited was established in 2001. With over 13,200 professionals operating out of India and Northern Ireland, HCL BPO runs fourteen delivery centres across India, UK and Malaysia.
The company has reported revenues to the tune of $220.9 million. HCL BPO also offers multilingual support in eight European languages and eight Asia, Pacific and Africa Collections (APAC) languages. HCL BPO's focuses on sectors like telecom, retail, banking and financial services, insurance, hi-tech & manufacturing, and media, publishing and entertainment. Shiv Nadar is the founder, chairman and chief strategy officer of HCL Technologies.
Accolades of HCL BPO
Ranked second in Purdue Benchmark (2003) Global Peer Group of BPO Service Providers
Ranked third in Highest Satisfaction for Business Process Outsourcing by the Black Book of Outsourcing (2007)
Ranks among the Top 10 ITeS-BPO companies in India (NASSCOM & Dataquest)
10) EXL Service Holdings:EXL Service Holdings came into existence in April 1999 in Delaware, US. It was founded by a group of professionals including Vikram Talwar (now executive chairman) and Rohit Kapoor, who is now the CEO. Vikram was then the CEO and managing director of Ernst & Young, and Rohit managed international investments for clients at Deutsche Bank.
In August 2001, Conseco acquired EXL and operated as its wholly owned subsidiary. Later, in November 2002, Oak Hill Capital Partners L.P. and FTVentures along with members of the senior management team bought EXL from Conseco making it a third party pure-play business process outsourcing service provider.
The company has seen a fast-paced growth with 50 clients and a staff strength of 8,200 employees. Revenues for the quarter ended March 31, 2008 were $50.9 million compared to $39.9 million in the quarter ended March 31, 2007, an increase of 27.8 per cent. Accolades for EXL Service Holdings
Recognised as one of the Top 100 hot growth companies for 2007
Among the top 10 best performing BPOs in CMP Media's list
No.1 rising star in the Global Outsourcing list by International Association of Outsourcing Professionals