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The Top Five Pioneering Companies of the Indian Outsourcing Industry
Mention the word ‘Outsourcing’ and the picture that immediately comes to mind anywhere in the world is India. Rightly called the Outsourcing Hub, our country, in the past few years has become the back office for the world. Its population, once considered a bane, is now its boon. The abundance of qualified, English speaking youth, known for their expertise and commitment has made India the favorite among several multinationals who wanted to outsource their back office work. The outsourcing industry has grown past its nascent stage and is on the path of an exponential growth. In the earlier days, the services offered were mainly limited to IT and voice based services. As the organizations climbed up the value chain, the type of services on offer has also diversified. Services now include Finance and Accounts, Content Solutions, IT Infrastructure and maintenance, Procurement & Supply Chain and so on. The organizations which are in the forefront in this industry and that have succeeded in the long run are those who have been able to leverage their expertise in multiple areas of expertise. They are able to provide their clients with end to end solutions. A brief summary of five such organizations who have been the pioneers in this industry and who have chartered a successful path is given below. 1. WNS WNS can be seen as the true pioneers of the outsourcing industry in India. Set up in Mumbai in 1996 as a captive unit of British Airways, they started servicing third party clients in 1999. Today, WS services clients across multiple industries with a wide range of functional specializations including Finance and Accounting, Research and Analytics, Supply Chain Management and Customer Service to name a few. During the path of its growth, Warburg Pincus acquired a majority stake in WS in 2002 and since then, the company has followed the acquisition path also to gear up its growth. Several accolades have also come to the company in the past few years. It was ranked the Number 1 BPO Company for the year 2005 by NASSCOM, in terms of revenue. In July 2006 WNS also completed its Initial Public Offering on the New York Stock Exchange. 2. GENPACT Originally known as GECIS, this one organization can very well be considered as the synonym for BPO in India and has been an industry pioneer in several other countries as well. Like WNS, Genpact also started off as a captive unit. Established in 1997 as the India based service center for GE Capital, GECIS became an independent company in 2005 after General Atlantic and Oak Hill Capital Partners acquired stake in it and was renamed Genpact. Today, Genpact has a network of 25 delivery centers spread across 9 countries. Quality is a way of life here with more than 5000 Six Sigma trained employees on its roll. Several awards and accolades have been awarded to Genpact. A few include “No.1 ITES-BPO Company’ by NASSCOM, 2006-07, ‘No.1 Best Performing BPO’ and ‘No.1 Leader in Human Capital Development’ by Global Services Magazine in the GS100 Survey, 2007, Among ‘Best Outsourcing Service Providers’ by IAOP in the Global Outsourcing 100 list, 2007. This year, Genpact has also debuted on the New York Stock Exchange. 3. WIPRO BPO When Wipro took over Spectramind in 2002, it was touted to be one of the biggest success stories not only in the Indian BPO industry, but all over the world. Within a year, its client base doubled and its people strength grew from 2000 to 8000. Today, it has over 19000 people on its rolls operating out of 9 different locations in India and Eastern Europe. The company offers solutions in the areas of Finance & Accounting, Procurement, HR Services and Knowledge services to name a few. The industries being catered to by the organization include Banking & Financial Services, Insurance, Telecom, Travel & Transportation and Health & Life Sciences. The company, with its team of experienced personnel has migrated more than 400 remote processes to India in the past ten years. The company boasts of having the ‘best people talent’ and it has rightfully earned the distinction of being rated as a ‘Best Employer in India’ in the Best Employers Hewitt Survey for 2007. It has also been recently rated as the top Indian outsourcing firm in the Global Outsourcing 100 rankings conducted by IAOP. 4. INFOSYS BPO Formerly known as Progeon, Infosys BPO was started as the business outsourcing subsidiary of Infosys Technologies in 2002. In a short span of five years, this organization is recognized as one of the leading BPO companies by NASSCOM, IAOP, Red Herring, Businessworld, etc. The horizontal services on offer by Infosys BPO include Finance & Accounting, HR Outsourcing, Order Management etc, across the verticals of Banking & Capital Markets, Communication Service Providers, Insurance, Automotive & Aerospace, Retail & CPG etc. It has more than 3000 people on its roll in three delivery centers in India and Eastern Europe. Infosys BPO was recognized as one of the Global Outsourcing 100’s ‘Rising Stars’ by IAOP in February 2006. The other recognitions conferred on the organization include ‘4th most respected BPO in India’ by Businessworld magazine in June 2006 and ‘Red Herring 100 Asia’ Company. 5. EXL Service EXL, a pure play BPO company, opened its first delivery center in Noida in 1999 with 500 seats. Within a year, another delivery center was also opened in Noida. Today, it boasts of seven such centers across three Indian cities with a combined work force of approximately 9000 professionals. It has successfully migrated over 230 business processes spanning a wide range of products and services. The company has recently acquired Inductis, a leading consulting and analytics organization. The company has consistently been ranked among the leading global offshore service providers by various Professional and Industrial bodies across the world. EXL was selected amongst ‘the World’s 100 most innovative service providers’ by Global Services 100 based on a study conducted with NeoIT. It has also been recognized by the Black Book of Outsourcing as one of the Top 50 Best Managed Global Outsourcing Vendors. FAO Today has featured it among the top 21 FAO providers for the year 2007. The most successful companies in this field have combined their domain expertise in various fields providing end to end business solutions to their clients. The above list of five is indicative of the various areas and industries which are catered to by Indian BPO companies. One common thread which runs through all these is their commitment to quality, pursuit of excellence and constant innovation. Every year, new stars rise in the horizon. Today we have seen only a part of the giant that India is becoming. The story is going to be exciting and more aggressive in the coming years and companies that would come out in the top would be the ones that best leverage their expertise and people. Chillibreeze's disclaimer: The views and opinions expressed in this article are those of the author(s) and do not reflect the views of Chillibreeze as a company. Chillibreeze has a strict anti-plagiarism policy. Please contact us to report any copyright issues related to this article.
>> Read more articles written by Chillibreeze writers:1. Articles related to Content and Outsourcing
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