Genpact, the business process outsourcing (BPO) arm of General Electric Co, has overtaken WNS as the top third-party BPO in the country.
MUMBAI: The verdict is out, finally. Genpact, the business process outsourcing (BPO) arm of General Electric Co, has overtaken WNS as the top third-party BPO in the country.
In fact, Genpact’s transition happened only last year from “a part captive to a complete third-party BPO company”.
According to the Nasscom survey of top 15 third-party BPO companies, Genpact has topped the list, followed by WNS and Wipro BPO at second and third slots. Surprisingly, IBM-Daksh came sixth, while Progeon, the BPO arm of Infosys, found itself at the seventh position and TCS BPO was ranked 14th on the list.
The rankings are based on revenues for 2005-06 reported as per the annual Nasscom survey on IT industry performance.
In fiscal 2005-06, the Indian ITES-BPO industry grew 37%, contributing $6.3 billion to the total software and services exports of $23.6 billion. Kiran Karnik, president, Nasscom said: “The industry is likely to witness an increase in the M&A activity which could lead to significant consolidation in the BPO industry, and in the process creating world-scale players.” Karnik further said the entire software and services industry is expected to record revenues of $36-38 billion in 2007 fiscal. “We expect the ITES-BPO segment to continue its growth momentum and expect exports to cross $8 billion during the current financial year,” he added.
Banking and financial services is among the most mature verticals in terms of offshore ITES-BPO adoption. This segment is estimated to account for about 35-45% of offshore ITES-BPO, and has the greatest service-line depth, the survey said.
According to recent reports, worldwide technology spends in the life sciences industry, which totalled $17 billion in 2004, is likely to exceed $49 billion by 2011, growing at a CAGR of 16.3%.
The ITES-BPO employee base has grown to 4,15,000 in FY 06 from 316,000 in FY05 and the domestic market for ITES-BPO also witnessed a significant increase in demand with the estimated value of work outsourced (by domestic clients) growing by over 55% to $ 860 million in FY 2005-06.
Companies are increasingly focusing on security, innovation, operational excellence and sustained total cost competitiveness.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}