Wipro, Infosys enter list of top 5 Indian BPOs
The Indian business process management (BPM) industry has seen a rejig with Wipro and Infosys entering the top five positions in 2013-14, according to Nasscom, the industry body for IT-BPM.business Updated: Sep 18, 2014 00:06 IST
The Indian business process management (BPM) industry has seen a rejig with Wipro and Infosys entering the top five positions in 2013-14, according to Nasscom, the industry body for IT-BPM.
The industry grew by 16.6% year-on-year to $23.3 billion revenue (Rs 1,42,048 crore) in financial year 2013-14 and continues to be the world’s biggest business process outsourcing (BPO) centre, accounting for 38% of the $53-billion global off-shoring market.
The top three slots remained unchanged with Genpact, Tata Consultancy Service and Serco maintaining top three positions. Wipro replaced Essar group-controlled Aegis at fourth position while Infosys is at fifth. Nasscom announced the latest industry ranking at the two-day annual BPM strategy summit.
Aegis moved down to sixth after selling its US, Philippines and Costa Rica businesses to Teleperformance. First Source, WNS and EXL retained their seventh, eighth and tenth positions respectively while Hinduja Global Solutions rose to ninth position. Mphasis moved up from 15th to 11th slot. Mumbai-based Eclerx and Syntel entered the top 15 list while Aditya Birla Minacs (which was sold off) and Hero Management Service dropped out of the list.
“Going forward analytics will be one of the key growth drivers and the industry is focusing on that,” said Keshav Murugesh, CEO, WNS, who chairs Nasscom’s BPM council. “The global customers are focused on business outcomes and industry has started focusing on higher value services.”
The industry has set a target of achieving $50 billion revenue by 2020. The BPM industry currently employs about a million people and is expected to double that number in the next six years. More than 500 firms operate in the business process outsourcing space with top 15 accounting for 44% of the total revenue.
“Mergers and acquisition will be the key element of strategy and companies will look to buy firms to build fresh capabilities,” Murugesh said.