HfS Blueprint Report -...

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HfS Blueprint Report Finance & Accounting BPO March 2013

Phil Fersht Founder & CEO [email protected]

Brian Dubiel Principal Analyst [email protected]

© 2013 HfS Research Ltd. Proprietary ൟ

Table of Contents

Topic Page

Executive Summary 3

Service Provider Capabilities 6

Service Provider Profiles 13

About the Authors 34

Executive Summary


Introduction to the HfS Blueprint Report:

� The F&A BPO HfS Blueprint Report is the first of its kind in the global services industry. Unlike other quadrants and matrices, the HfS Blueprint identifies relevant differentials between service providers across a number of facets under two main categories: innovation and execution.

� HfS Blueprint Report ratings are dependent on a broad range of stakeholders with specific weightings based on 1,355 crowdsourced responses. Stakeholders include:

X F&A BPO Enterprise Buyers X F&A BPO Service Providers X F&A BPO Industry Influencers (sourcing advisors) X HfS Analysts

Finance and Accounting BPO Services


Key Highlights: Finance & Accounting BPO in 2013

� Deal activity rebounds. F&A BPO market has shown growth of 13% increase in deals 2012 after several years of downturn. Contract size for multi-scope engagements has stabilized at $25M (ACV).

� The “F&A Big Four” dominate the Winners Circle. Accenture consolidates its command of market share. IBM, Genpact, and Capgemini round out the “Winner’s Circle” members.

� Intense competition among the High Performers. Wipro, WNS, EXL, Xerox and Infosys pushing aggressively for their share of new deals.

� Execution trumps Innovation. The service providers are attempting to become more innovative in the F&A BPO space, but the market still remains more focused on execution and delivery, assigning 70% of the importance weighting to execution, 30% to innovation.

� Market size grows. Total F&A BPO is expected to surpass $25B in 2013, at a growth rate of 8%, with multi-process F&A BPO expected to reach $5B. 4 out of 10 enterprises ($5B+) intend to expand their F&A BPO operations this year.

� Industries experiencing secular shifts show highest growth. These include Telecom, Software/High Tech, Media/Publishing and Retail/Hospitality.

� “Early adopter” industries show slowed growth. Banking, Financial Services and Insurance and Manufacturing still dominate a third of the market, but growth has slowed.

� Market still nascent. All F&A functions are still predominately managed in-house by enterprises.

Research Methodology


Data Summary � 58 data points were collected from 745 live multi-

process F&A Business BPO engagements. Each contract had a minimum of two core F&A processes bundled and a minimum on $1M in TCV.

� Data was collected in Q4 of 2012, covering 1355 buyers, providers and advisors/influencers of outsourcing services. Included in this sample were 127 buyers of F&A BPO services.

This Report is Based On: � Tales from the Trenches: Interviews with F&A BPO

buyers who have evaluated service providers and experienced their services. Some references are supplied by service providers, but many are interviewed in meetings conducted with HfS Sourcing Executive Council members and participants in our extensive qualitative researching process.

� Sell-side Executive Briefings: Structured discussions with service providers based on collected data necessary to evaluate their innovation and execution capabilities, market share and deal counts.

� HfS “State of Outsourcing” Survey: The industry’s largest quantitative survey on outsourcing, conducted with the support of KPMG, covering the views, intentions and dynamics of 1355 buyers, providers and influencers of F&A and business services.

� Publically-available information: Financial data, website information and presentations given by senior executives, and other marketing materials.

Participating Service Providers

Research Methodology


Evaluation Criteria

Two major factors that impact service delivery:

• Execution represents service providers’ ability to deliver services. It includes:

– Real world delivery of solutions – Quality of Customer Relationships – Market Share

• Innovation represents service providers’ ability to improve services. It includes:

– Vision for End-to-End Process Lifecycle

– Integration of BPO and IT – Vision, Plans and Investments to Tailor

Solutions for Specific Industries – Leveraging External Drivers

Criteria Weighting

Criteria are weighed by crowdsourcing weightings from the four groups that matter most:

• Enterprise Buyers (40%) • Service Providers (30%) • HfS Research Analysts Team (20%) • Advisors, Consultants, and Industry

Stakeholders (10%)

Weightings from this report come from HfS’ 2013 “State of Outsourcing Study”, conducted with the support of KPMG.

Key Factors Driving the HfS Blueprint


Provider G Provider J

Provider B Provider G

Provider A Provider B

vs.

vs.

vs.

…

After providers respond to HfS’ Blueprint RFI, and upon completion of client references and fact-checking, HfS analysts conduct a paired-comparisons survey of service providers in each category of evaluation. This involved more than 700 unique provider comparisons.

Using ExpertChoice, an advanced statistical analytics package, the data/rankings are compiled and compared across all provider comparisons to identify inconsistencies within the scores.

After a further data-refinement, the criteria weightings are used to give each service providers a score in each of the evaluation criteria components.

Once aggregation and scoring is complete, the service providers’ scores are plotted, producing the HfS Blueprint.

How the HfS Blueprint Scores are Compiled

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=sicK0dqmpJXHxM&tbnid=CD0ww7hIQlXD4M:&ved=0CAUQjRw&url=http://www.csc.com/public_sector/ds/11274/12865-expert_choice&ei=Y8onUe7lC4e70QHOrIDgDA&bvm=bv.42768644,d.dmQ&psig=AFQjCNF6TWKKiduE6u2dayw85Ok176l9vA&ust=1361648598259391


EXECUTION 71.77% Quality of Customer Relationships 23.74%

Quality of Account Management Team 10.49% How Service Providers Engage Customers and Develop Communities 5.62% How Service Providers Incorporate Customer Feedback 7.63%

Real World Delivery Solutions 20.94% Actual Delivery of Services for Each Sub-process 9.63%

O2C 4.23% R2R 1.71% P2P 2.83% Other 0.85%

Geographic Footprint and Scale 3.60% Usefulness of Services to Specific Client Needs of All Sizes 7.71%

Flexibility to Delivery Both End-to-End Solutions and Point Solutions 3.48% Experience Delivering Industry-Specific Solutions 4.23%

Market Share 10.80% Flexible Pricing Models to Meet Customer Needs 16.28%

INNOVATION 28.23% Vision for End-to-End Process Lifecycle 11.41%

Concrete Plans to Deliver Value Beyond Cost and Investment Into Future Capabilities 4.63% Integration of Technology Into Business Process 3.31% Continuous Improvement Methodology and Capability 3.47%

Vision for Industry-Specific Solutions 9.46% Ability to Leverage External Value Drivers 7.35%

Leverage New Technology, Security, Social Media, Mobility and Cloud Capabilities 3.55% Incorporate Regulatory Requirements Quickly and Proactively 3.80%

TOTAL 100.00%

HfS Blueprint Scoring: Percentage Breakdown of Importance Weightings


Stra

tegi

c Im

port

ance

• Accounts Payable • Travel and Expense • Billing/Invoicing • Cash and Accounts Receivable • Credit

• Collections • Revenue Accounting • Fixed Asset Accounting • Tax Filing • Payroll

• Inter Company Accounting • Regulatory/Statutory

Reporting • Management Reporting • Risk Management/Treasury

• Internal Auditing • Financial Planning and

Analysis • Business Intelligence • Other

• Financial Process Consulting • Change Management and Communications Support • Supporting Innovation Roadmap

Transactional Accounts

Controllership Activities

Transformational Responsibility

Low level and process based activities in the F&A sphere.

Higher level and more analytical focused F&A activities and process.

Consultancy like products and services. Identifying the long term strategy of F&A.

Activities include and/or not limited to:

HfS Bases its Research on an Assessment Framework of Services that F&A BPO Service Providers Offer the Market


Procure to Pay

• Accounts Payable • Travel & Expense • Credit

Order to Cash

• Cash App/Accounts Receivable

• Billing/Invoicing • Collections • Revenue Reporting

Record to Report

• Fixed Asset Accounting

• Tax Filing • Payroll

Controllership Activities

• Inter-Company Accounting

• Regulatory/Statutory Reporting

• Management Reporting

• Risk Management/ Treasury

• Internal Auditing • Business Intelligence • Financial Planning &

Analysis

Transformational

• Financial Process Consulting

• Supporting Innovation Roadmap

• Change Management & Communications Support

HfS Value Chain Definition: Value chain refers to the series of departments which carry out value-creating activities to design, produce, market, deliver, and support a company’s product or service. In this usage, we refer to the range of primary processes and support services that providers offer to their clients. In the case of the F&A BPO Services assessed in this Blueprint, only those engagements which involve a minimum of two of these core F&A process bundled and a TCV more than $1M.

Definition of Finance and Accounting Business Process Outsourcing Services Finance and Accounting Value Chain

Service Provider Capabilities


INN

OVA

TIO

N

EXECUTION

High Performers

Winner’s Circle

Accenture

IBM Genpact

Capgemini

EXL

Wipro

WNS Infosys

Xerox

HP

TCS

Serco Sutherland

Cognizant Steria

HfS Blueprint Axis: Finance & Accounting BPO, 2013


EXECUTION

• Genpact Shines – “Client big or small – Genpact can do it all” should be their

new corporate motto. Genpact’s experience in the middle market as well as holding some larger deals have pushed them to be the execution.

– Genpact has exceled in the ability in developing niche verticals in F&A. This speaks specifically to their experience in the Pharma industry (servicing 8 out of 10 major Pharma companies in the world).

• Capgemini Looks to Be a Rising Star – Capgemini has pushed itself from High Performer to Winner

over the course of a few years. Cap’s ability to execute leveraging its global process model, coupled with its excellent client management have been the real catalysts for its entrance into the Winner’s Circle.

– Greater depth in industry verticals, as well as a non-EU based clientele will help Cap to challenge the leaders in the Winner’s Circle.

• EXL Greatly Improved Execution Capabilities – With the dust now settled on the OPI acquisition, things are

taking a turn for the better at EXL. Legacy OPI customers are satisfied with a seamless and have been pleased with the increased breadth OPI has brought to EXL’s operations – all adding to the provider’s ability to execute.

INNOVATION

• Accenture Leads All Service Providers in the Category – Over the course of Accenture’s reign at the pinnacle of the

F&A market, the firm has consistently been on the forefront of providing services with a genuine vision for the future direction of BPO. Its success winning and extending major marquee enterprise clients as a result of many years cultivating deep relationships has been the cornerstone of its success. It’s next challenge will be addressing the needs of the upper-middle-market, which is primed for the next way of F&A adoption.

• IBM is a Strong Performer in Analytics – All the leading service providers are looking to incorporate

analytics as a core ability in the fight for differentiation, and IBM sets itself apart with a strong integrated approach across its analytics and BPO practices – especially F&A.

– Buyers no longer seek simple labor arbitrage in F&A deals – they want better processes. Analytics can potentially unlock the keys to those productivity gains and providers must increase their capabilities in this area.

• Wipro Increased Capabilities in Innovation – Wipro has sought to increase its innovation capabilities

through developing and focusing its client relationships. The additional emphasis on developing vertical capabilities, has also helped it become one of the more innovative firms and a real “dark horse” to watch in the coming months.

Major Service Provider Dynamics – Highlights


� Vertical Focus driving F&A value. Clients have repeatedly referenced the industry-focused vertical scope of F&A services as being of prime importance. HfS expects this trend to accelerate in the future, where service providers will become F&A experts within given industries, with the capability to offer insights and analytics. Notable industries where clients prefer providers with specific vertical capability include Pharma, CPG, Retail and Insurance.

� Blur between Procurement and F&A. The line between procurement and the finance back office is starting to blur as companies look to reduce overhead and find synergies between the lines of corporate groups. It will be imperative for service providers to keep abreast of the changing landscape and address Finance and Procurement needs together.

� Creating Relationships that Foster Innovation. As it gets harder to differentiate between the main body providers in “table stakes” areas of price flexibility and global operational delivery, those providers that are able to provide clear and measurable innovative improvements for clients will dominate market share. The key is providers being able to demonstrate how they created environments with their clients to work together to define business goals and outcomes. It’s not going to be about “selling innovation”, but more about creating environments to foster innovations.

� Development of Client Communities. The need for more interaction between a provider’s client base is abundantly clear. Clients have called for more cross collaboration, to gain a better understanding of how other companies are leveraging their F&A BPO, and where best practices can be identified. HfS anticipates smart providers to increase their involvement of driving more focus groups within their F&A BPO client portfolios.

Future of the Finance and Accounting Outsourcing Market

Service Provider Profiles


Accenture

Client Industry Verticals Key Clients Global Operations Centers Business Platforms Offered

• Resources and Products • Communications, Media and Technology • Financial Services • Healthcare and Pharma • Public Services • Products and Resources • Travel

• BP • The Hartford • Intertek • CEVA Logistics • Microsoft • Delta • Oi • DHL • Delta • Deutsche Bank • Cisco

• Headcount: 14,000+ FTEs

• Argentina: Buenos Aires • UK, Ireland, Spain • Central & Eastern Europe: Prague,

Bratislava, Bucharest, Warsaw, Romania • India: Bangalore, Chennai, Delhi • Mauritius • China: Shanghai, Chengdu, Dalian • Philippines: Manila and Cebu • South Africa: Johannesburg

• BPO Navigator 2.0 • F&A Performance Dashboard

Strengths Challenges

• Depth and breath of global industry, finance and technology acumen is first-class. Utilizing its depth in consulting skills, Accenture has developed solutions focused on business results, as opposed to predominantly labor arbitrage, like some providers.

• BPO is treated as a Tier 1 service line, as opposed to being buried underneath IT services, like its major competitors.

• Superlative business performance in recent years has culminated the largest global F&A delivery capability.

• Leadership of Michael Salvino has been instrumental in driving the most impressive BPO growth in the industry and positioning the BPO business so strongly, both within Accenture and externally.

• It’s “BPO Generations” philosophy (see link) has helped define the stages and evolutions of F&A BPO engagements for the whole industry.

• Frequently surveys and gathers data on its clients regarding their challenges and how they are adapting to changes in the market. Provides insights in anticipating client’s needs and addressing their concerns by developing new innovative processes and products.

• Vertical focus has been bolstered by recent acquisitions and client wins in pharma (Octagon), financial services (Zenta) and healthcare administration.

• Ability to communicate customer success experiences across other clients. Clients commented that they would like to see Accenture speak to the positive outcomes from other clients better – bringing in successful ideas to other clients etc.

• Some clients have stated Accenture being somewhat inflexible during transition periods – citing the “Accenture” solution.

• Arrogance perceived by some clients. In part, this is due to the firm's aggressive deal qualification process where several opportunities are shunned. Some potential and current clients will often feel that Accenture avoids them if it has to compete in an environment where its relationships are not as strong, especially against an incumbent provider.

• Strong focus on Business Outcomes can alienate some clients. While Accenture’s sophisticated approach to BPO fits with the needs and demands of many of today’s ambitious global enterprises, the firm is not always as well suited to serve organizations whose goals are primarily focused on cost-reduction and standard operational performance.

Industry Leading: Innovation

• Vision for Industry Specific Solutions

• Integration of Technology into Business Process

Industry Leading: Execution

• Quality of Account Management Teams

• Experience Delivering Industry Specific Solutions

Market Share: 29.6%

“Winner’s Circle”

http://www.horsesforsources.com/bpo-generations_011512


Genpact


• Financial Services • Insurance, • Retail and CPG • Pharma • Manufacturing • Services Industry • Travel

• GE • Kimberly-Clark • Walgreens • AstraZeneca • UCB • Hyatt • GlaxoSmithKline • United Biscuits • Telefonica O2 • Cigna • Penske • Ashland

• Headcount: 16,000+ FTEs

• India: (12,300+) • China (600+) • Philippines • Brazil, Columbia, Mexico, Guatemala • Czech Republic, Hungary, Poland, Romania • Kenya, South Africa, Morocco • Netherlands • U.S.

• Akritiv • E-Invoicing • ProFlow • NICE • CMS • Duplicate Payment Audit Tool • E-Billing platform • Callisto • Manual Journal Entry • Close Tracker • Questor • Smartstream • SmartView


• Distinctive client culture. Genpact’s clients talk more fondly about their provider than many of its competitors. This is due to the notable humility of Genpact’s delivery staff and a bloody-minded determination to succeed. Genpact has worked hard to get its clients on the right track and enjoys many long-term established relationships as a result..

• Ability to be flexible in offering services to customers in a customized, tailor-made approach or providing the best-fit solution. Genpact offers both a plug and play solution as part of service offerings and an end-to-end solution for a multitude of services.

• Proven performer in both the high--end and mid--market client base. Genpact has does an excellent job in servicing a wide range of clientele. Account management teams have generally risen above most other competitors in terms of quality.

• The Smart Enterprise Processes (SEPSM) methodology is a game-changer in the BPO market; a scientific methodology enabling a comprehensive analysis of business activity across the entire enterprise.

• Ability and openness to support both existing customer based technology solutions or propose own business tools in order to address the unmet functionalities of the systems and processes.

• IT development and IT innovation remains a weak focal point. IT business still remains quite small in comparison to other service providers in the market. As customers look towards all inclusive deals and solutions, this could ultimately hinder its ability to attract new deals. Clients have cited the lack of new applications developed to boost innovation, however, recent acquisitions of Headstrong and JAWOOD have significantly enhanced Genpact’s capabilities in capital markets and healthcare insurance, which should improve F&A capabilities in these industries.

• Over-reliance of F&A headcount in India. A more globally-diversified staff spread would be more attractive for more regional buyers looking for a greater degree of local support and business continuity planning in the F&A space.

• Apparent lack of depth and vision in some industry verticals. Although strong in pharma and CPG, and showing potential with recent acquisitions in others, the lack of a top tier IT business that could lead to new industry focused relationships could hold the firm back.


• Vision for End-to-End Process

• Continuous Improvement Methodology and Capability


• Developing Customer Communities

• Flexibility to Deliver End-to-End and Point Solutions

Market Share: 10.2%



IBM


• Manufacturing • Energy and Utilities • Banking • Electronics and Telecom • Healthcare • Government • Insurance

• Hillshire Brands (formerly Sara Lee) • Sharp Electronic Europe • Lam Research Corporation • Unilever • Cemex

• Headcount: ~13,000 FTEs

• India: Bangalore, Chennai, Delhi • China: Dalian, Foshan • E. Europe: Krakow, Sofia • Portugal: Braga • Philippines: Manila • Argentina: Buenos Aries • Brazil: Hortolandia

• Emptoris Suite • Coupa • ARCollect Suite • Sterling • OpenSpan • Cast Iron • Maximo • GERS • ServiceFlow • Percolator • FSR • ACL


• Commitment to BPO reinforced by new CEO, Ginny Rometty. Winning the massive Cemex F&A engagement reinforces determination to gain a leadership foothold in the market.

• Superlative portfolio of technology and analytics provides genuine differentiation.

• Integration of managed analytics with F&A and SCM capabilities proving a major plus for defining higher-value solutions for clients.

• Robust strengths across all F&A process value chains: O2C, S2P, R2R and FP&A areas.

• Recent investments in “transformation-capable” personnel. • Strong brand marketing and thought leadership capability helping to

articulate its differentiation and vision as an F&A services leader. • Very robust transition capabilities. • IT services strengths further bolstering F&A solution delivery . Core

strengths in the procurement, payroll and supply chain play strongly for multi-tower relationships.

• Is demonstrating a determination to compete effectively with aggressive low-cost Indian providers. Has faired well over the last couple of years to emerge as a clear front runner with the second-largest market share.

• Recent loss of marquee British Petroleum F&A contract has hurt the practice, but has also helped refocus its F&A business with some impressive recent wins, such as Cemex and Unilever

• BPO is still not a “high profile” a service line for IBM compared to IT services/BPO rivals Capgemini and Accenture. While commitment is clearly strong under Rometty, it would be beneficial to see the status of BPO elevated to a similar profile enjoyed by analytics/Big Data and Cloud.

• Sandy Khanna has just been announced as IBM’s new GPS Global Practice Leader for F&A/SCM, an internal promotion, replacing the departing Donniel Schulman, who had performed a stellar job positioning the practice in recent years. Time will tell whether IBM should have looked externally for some fresh blood to lead the practice; Khanna will need to prove he is a strong market-facing practice leader who can rival the likes of Accenture’s and Genpact’s popular stalwarts.



• Ability to Leverage External Value Drivers, such as Cloud, New Tech, Regulatory Changes


• Geographic Footprint and Scale

• Actual Delivery of Services for each Sub-process

Market Share: 14.7%



Capgemini


• Global Manufacturing • Consumer Products • Business Services • Telecom and Media • Agriculture and Mining • Retail • Financial Services

• Agrana Group • Coca Cola Enterprises • International Paper • Danfoss • Unilever • Zuruch Insurance • Office Depot • Unilever • SKF • Syngenta

• Headcount: 8,940 FTEs

• India: Bangalore, Chennai, Kolkata, Mumbai • Poland: Krakow, Katowice • China: Nanhai • Brazil: Campinas, Blumenau • Chile: Santiago • Guatemala: Guatemala City • Australia: Adelaide • US: Sarasota • Canada: Toronto

• BPOpen • WebCollect • IBX Procure-to-Pay • IBX e-Invoicing


• Capgemini frequently viewed as a genuine “alternative” to IBM and Accenture.

• Overall outstanding relationship management, including creative client management techniques.

• Strong finance and accounting pedigree that goes beyond administrative processes and transformation capability.

• Its global delivery model (“rightshore”) based on regional command centers, is very effective for global multinationals across all continents. This model also enables clients to scale up quickly as required. Its Latin America delivery capability is a strong plus

• Its global process model is very effective with large clients supporting governance and risk management capability for clients Has performed excellently over last two years picking up new clients and gaining market share.

• Strong focus on F&A analytics and management reporting capabilities appreciated by key customers

• The WebCollect platform acquired from Vengroff Williams adds significant capability in providing process and cost efficient O2C services to its clients.

• India/offshore support model not as strong as key competitors.

• Pricing has been historically uncompetitive (although this has not been the case in some recent engagements).

• US brand and executive presence has been historically weak. Client focus and general demand has remained very France and Europe-centric. Given the current economic crisis in the continent, deep concentration of clients in this geography may be risky.

• Lacking vertical focus in F&A across a multitude of industries and areas has traditionally been a weakness. However, the firm is now showing efforts to focus on insurance sector and other verticals, such as energy, consumer products and retail.





• Developing Customer Communities

• Incorporating Customer Feedback

Market Share: 10.6%



Wipro

Blueprint High-Performer

• Flexible Pricing Models to Meet Customer Needs

• Incorporate Regulatory Requirements Quickly and Proactively



• Telecom • BFSI • Technology • Manufacturing • Retail • Healthcare and Life Sciences • Media and Publishing • Transportation and Freight

• Alcatel-Lucent • AmBev • Sears Holding Corporation


• India (7 centers) • APAC: China, Australia, Philippines • E. Europe: Poland, Romania • LatAm: Mexico, Brazil • NA: USA, Canada

• Base ))) • Colossus • Epiplex • Ariba • iAsta • Concur • SAP • Oracle • Peoplesoft • Business Objectives


• Well-respected process competency and holds a long-standing reputation for delivery. BPO competency, particularly F&A, sits well with Wipro’s DNA and culture.

• Has been competing aggressively on a host of European and US deals, being viewed and a genuine top tier proposition. Arguably the biggest threat to the Winners Circle providers on competitive bids.

• Price competitiveness and solution flexibility has helped Wipro develop market share in the middle of the pack of competing providers. Has experience providing end to end support for F&A services, in addition to point solutions, which is attractive to many enterprises.

• Expanded global presence across all major continents a strong plus. • Has been focused on BPO for many years and its leadership determined to

grow its foothold with clients. It’s CEO, TK Kurien, has a strong BPO background and understands the importance of strong hybrid BPO/IT capabilities as the industry matures. Recent appointment of the experienced Manoj Punja will give the BPO group added focus, discipline and resources to bolster its market presence and capabilities.

• Strong passion and capabilities in developing technology platforms to support its BPO prowess, notably its impressive Base ))) offering, a suite of process management tools to enhance process effectiveness and improved governance.

• Most often is stereotyped as more if an ITO than BPO provider, and sometimes the perceived separation between BPO offerings and ITO is blurred.

• Total back office capabilities still are heavily reliant on voice –69% are voice-based activities.

• Outside of India, Wipro’s delivery presence in Europe is not as strong as other competitors.

• Focus sometimes is too driven on a rigid process-centric approach. This can restrict the ability to show flexibility when responding to client requests, a key asset when delivering value add services and acting as along-term “partner”; and may impede a culture to nurture innovation.

• Changes in its corporate leadership structure has held the company back for the last couple of years. Wipro has lost ground to the “Winners Circle” providers over the last year and needs to bounce back under Manoj Punja.

• Marketing investments has been traditionally weak. Needs to invest in developing its awareness and thought-leadership competencies.

• Brand is closely identified with Wipro being a hard-working, operational IT firm, which is often misguided. Wipro needs to invest in altering its image among many enterprises to be more consultative and “higher-end”.

Market Share: 2.5%

“High Performer”


WNS


• Flexibility to Deliver End-to-End and Point Solutions

• Incorporate Regulatory Requirements



• Financial Services • Insurance • Media and Entertainment • Retail • CPG • Manufacturing • Travel and Leisure

• British Airways • Country Wide Residential Letting • Chiquita Brands International Inc. • Church's Chicken • AAA

• Headcount: ~7,500+ FTEs

• India: Pune, Mumbai, Nashik, Gurgaon, Bangalore, Chennai

• Sri Lanka: Colombo • Costa Rica: San Jose • Romania: Bucharest • Philippines: Manila • Poland: Gdynia

• Trintech • Concur • CoAction • Ariba • Newgen • Dynamic Discount Manager • Duplicate Payment Manager • Vendor Portal • Vendor Master Workbench • OB10


• A “real BPO” firm. WNS has been a passionate BPO “pure-play” in the market for exactly a decade, frequently punching above its weight to compete for major engagements. Expected to fight hard for new deals in 2013 in an increasingly-competitive market.

• Ability to take on a range of clients. Highly flexible and nimble - big enough to deliver and small enough to respond. Has received positive accolades from many of its mid--market clients, with a strong reputation for it’s hard-work client focus.

• Has successfully been able to compete among the larger, enterprise engagements in the last few years and has firmly established itself as a strong ‘pure play’ alternative to some of its larger competitors.

• Determined KPO and analytics capabilities to augment their F&A relationships, which many clients have cited. The client-centric approach is a real feature of WNS’ appeal – it gains many plaudits as a result.

• Introduction of the “Value Innovation Program”. This assists clients in improving their processes, quick adaptation with greater flexibility and readiness for ever changing business condition.

• Strong reputation for F&A in the travel vertical, based on British Airways heritage and its JADE accounting platform.

• Recent management changes have added focus and experience. Most notably, Yogendra Goyal has been installed to lead sales - a major plus for the firm’s US business with his relationships and experience.

• Outside of the travel, WNS needs to bolster further its F&A-specific offerings within some verticals. Encouragingly, WNS has developed some industry-specific process offerings in utilities, healthcare and logistics sectors, which could further enhance its F&A capabilities in these industries.

• Client base is still primary driven by the US and UK markets, which could limit opportunities in the growth Latin American and APAC growth markets.

• WNS has yet to prove that it can “think and act” as a global provider; even with a strong footprint in place, it is overly-reliant on India. This is evidenced by the fact that 85% of work is being performed out of India.

• 50% of its revenues are tied up in travel and insurance. While these have been instrumental in the company’s growth, it needs to expand aggressively into other growth markets, such as healthcare payor, retail and hi-tech if it wants to expand its F&A footprint.

• EMEA and LATAM delivery and capabilities are quite limited for clients looking for delivery in those locations.

• Management turnover has caused concern, but seems to have been stabilized in recent months.

Market Share: 3.4%





• Flexibility to Deliver Both End-to-End and Point Solutions

• Engage Customers and Develop Communities

EXL Service


• Healthcare • Insurance • Retail • Business Services • Manufacturing

• Travellers Insurance • American Express • Centrica PLC (British Gas)


• India: Noida, Gurgaon, Pune, Kochi, Bangalore

• Philippines: Manila • Bulgaria: Sofia • Romania: Cluj-Napoca • US: Dallas

• OPInvoice • eTrack • BlackLine • Microsoft Dynamics • B-ProMPT


• With company approaching $500Min annual revenues and enjoying stellar growth in recent years, EXL is now considered a serious contender for major F&A engagements.

• Many clients cite EXL’s flexibility and appetite to partner with clients, in terms of risk, culture, nature of work and the contract terms.

• Strong client relationship management, performing a stellar job integrating the key employees and clients from the OPI acquisition.

• Impressive community focus among clients and prospects provides EXL with frequent client events and seminars to drive the business pipeline and the EXL value proposition.

• Real depth and proven expertise in banking and insurance sectors. HfS views these industries as posing strong investment opportunities for BPO expansion and EXL’s position ensures success for the future.

• Ability to provide North America, near shore or onsite delivery solutions. This further enhances EXL’s value for customers, offering multiple delivery options per client’s needs.

• Recent aggressive investments in sales and marketing capability instrumental in growing the business and increasing communication, awareness and perception of EXL’s capabilities.

• Analytics offerings gaining traction, especially with flexibility to take on smaller engagements.

• Global footprint of F&A services is falls short in comparison to the leading providers in the market. To rival to the Winner’s Circle competitors, EXL will need to develop greater scale and depth in delivery to service larger clients and deals. Almost 75% of delivery is still centered in India.

• Limited industry vertical experience outside of financial services and energy. This has harmed the attractiveness of EXL as a potential shortlist candidate during several client down-selections. As a result, EXL has struggled to compete effectively with top tier outside of its insurance niche.

• Experience with only a single group of Microsoft based packages, raising concerns about ability to work with client’s non-Microsoft ERP based packages. With mid-market F&A opportunities opening up, partnerships with the likes of NetSuite would help open new F&A avenues for the firm.

• Continental Europe and UK presence is still weak comparative to US, inhibits their ability to land clients in these regions.

• Brand is still little-known outside of niche markets. Has an opportunity to increase market presence with recent marketing investments.

• Over-reliance of sourcing advisors to win new business – unlikely to find much success selling through this channel with most advisors inviting up to 12 providers to big on every deal.

Market Share: 2.1%



Xerox

Blueprint High Performer



• Experience Delivering Industry Specific Solutions

Client Industry Verticals Key Clients (Illustrative) Global Operations Centers Business Platforms Offered

• Automotive • Manufacturing and Energy • Retail and Hospitality • Healthcare • Financial Services • Transportation • Telecom and High Tech • Healthcare

• Atos Origin • Avis Budget Group • Cardinal Healthcare • General Motors • Georgia-Pacific • Ingersoll Rand • Michelin

• Headcount ~7,200 FTEs (85% offshore)

• India: Bangalore, Kochi, 3rd city (2013) • Poland: Krakow, Lodz • Philippines: Manila • US: Tempe, Fort Myers, Atlanta • Brazil: São Paulo • Jamaica: Montego Bay • Mexico: Juarez, Hermosillo • Spain: Barcelona

• Performance Tracking & Reporting • Record to Report • Order to Cash • ProfitSightTM Spend Analytics • Procure to Pay • Travel & Expense Reimbursement • Freight Audit and Payment • Other Automation Technology:

• Safe CourierTM

• LiveKeyTM

• AutobotTM

• Transition - Knowledge Capture


• Strong support and focus from Xerox corporate since its 2009 acquisition of ACS, gives its F&A business a real platform for growth. Millions have already been invested in advertising and branding its F&A capabilities. Xerox is determined to be a multi-faceted BPO provider with strong IT services capability.

• Established presence in “difficult to crack“ industry verticals such as the public sector, healthcare provider, aerospace and defense industries.

• Provide a high degree of industry specific F&A services for Financial Services, Healthcare and Transportation industries

• Well-organized Xerox sales channels across US and Europe in document management and IT should help boost direct sales, especially for transactional accounting and invoice processing services.

• Strong onshore presence in North America and Western Europe positions the firm well for future offerings which are less reliant on offshore delivery.

• Ability to incorporate regulatory requirements quickly and proactively is one of the best in the industry.

• Strong P2P acumen from combined Xerox/ACS services.

• Ability to leverage ITO into FAO process is limited. ITO environment today is too commoditized and Xerox has yet to develop any real differentiable abilities.

• No stand alone analytics. Continues to offer these services as part of BPO contracts, but will not offer services on a stand-alone basis until 2014.

• Needs to reassure clients and industry influencers the new-look Xerox F&A business has moved on from the old “lift and shift” model upon which ACS built its reputation.

• Xerox’s brand is still synonymous with document management, not finance. It took IBM several years to alter brand perception beyond merely “IT” to areas such as HR and finance. Xerox is still struggling to alter that perception.

• ACS business alone is unlikely to be enough to reach the Winners’ Circle. Additional acquisitions to bolster BPO technology platforms and consultative acumen are likely to be necessary in the near future.

Market Share: 5.4%



Infosys


• Engage Customers and Develop Communities

• Leveraging New Technologies, Security, Social Media, etc.



• Agriculture and Mining • Telecom • Retail and consumer products • Financial Services • Insurance • Capital Markets • Media & Entertainment • Manufacturing

• Philips • Alcoa • Royal Philips Electronics


• India: Pune, Chennai, Jaipur, Gurgaon, Bangalore

• Poland : Lodz • Netherlands Eindhoven • Czech Republic: Prague & Brno • China: Dalian, Hangzhou • Philippines: Manila • Mexico: Monterrey • Brazil: Belo Horizonte • USA: Atlanta

• BillingEdge • ProcureEdge • AssetEdge • SocialEdge • CommerceEdge • Bottomline • Brianware AP • OB10 • OpenScan – LockBox • Documentum • OpenText • Skelta


• Track record of high growth since inception has proved it is a lasting provider in the F&A space. Over the past few years, Infosys has closed the gap in competitiveness with a variety of horizontal and vertical engagements.

• Strong horizontal BPO breadth. Compelling procurement and sourcing capability to augment a strong horizontal BPO portfolio. With some major client wins, such as Verizon and BP, InfosysBPO has a strong horizontal portfolio across F&A, procurement, HR and customer management services. Most of the firm’s India-centric services competitors have failed to develop much of a business footprint beyond a handful of F&A and some customer management clients.

• Growing acumen in insurance showing real potential. Recent acquisition of McCamish insurance platform and US delivery center, coupled with Marsh & McLennan’s BPO unit further bolsters the firm’s insurance BPO muscle, which should enhance its ability to grow F&A business in this sector.

• Finance Centers of Excellence across India, Poland, China, responsible for ensuring that best practices for F&A processes are captured and shared with the operating managers, are showing signs of helping Infosys close the gap on the “Big 4”.

• F&A business still relatively small and undifferentiated, and has not kept pace with the growth of Genpact since its entry in the F&A market.

• Experience in development of true transaction-based pricing models is less clear, especially with client experience. As deal data suggests, most clients are based on an FTE basis.

• Quality of account management teams is generally lacking in comparison with other competitors in this space.

• Over-reliance on IT innovation rather than process innovation. Like its Indian-heritage rivals Cognizant and TCS, has struggled to place BPO at the forefront of the company’s growth agenda.

• Lack of a smart sales pursuit approach to winning new business. Frequently performs well enough to reach a short list, but is often overlooked at the “business end” of deals. A more focused approach to attract new business would benefit, including a lesser reliance on sourcing advisors.

• Leadership too India-centric. InfosysBPO has suffered from having most key decision makers and leadership based in India. However, the recent appointment of Gautam Thakkar as its new BPO CEO, who has led F&A BPO from Dallas TX, should help with developing a more client-focused sales strategy to grow the business. Thakkar takes the reigns on 1st April 2013.

Market Share: 2.3%



TCS




• Concrete Plans to Deliver Value beyond Cost and Investment into Future Capabilities


• Financial Services • Manufacturing • Retail • Telecom and Media • Energy • Business Services • Other

• Citi Group • The Nielsen Company • Phoenix Insurance Group • Friends Life Insurance


• India: Chennai, Mumbai, Kolkata, Bangalore and Gandhi Nagar

• China: Hangzhou, Tianjin, Dalian • UK: Peterborough • Latin America: Uruguay, Chile, Brazil,

Argentina • Continental Europe: Budapest • Philippines • US: Midland

• TCS F&A Platform • TCS Collections Platform • Trapeze • Concur • iExpense • Onbase • Documentum • Get Paid • Bill Trust • Auto Bank


• Broad global presence on both the client and delivery side. Major centers around the globe allow for flexibility in terms of a customer’s need for scale and regional delivery.

• Very strong innovator at the organization level. Clients frequently laud TCS’ innovative and aggressive approach to BPO.

• Growth and expansion in vertical domains. TCS has broadened its scope and depth in many verticals, most notable banking and insurance.

• Investments in Platform-based BPO have helped propel the firm as a thought-leader and pioneer in more industrialized BPO models. For example, its Bancs platform is proving highly successful in wining several new client engagements worldwide.

• Frequently demonstrates a strong appetite to invest in new clients to grow its business (as opposed to acquisitions). Clearly willing to take risks to improve its acumen and foothold in specific industries.

• Half of TCS’ revenues in F&A are from the Financial Services vertical. Diversifying into new verticals for F&A is proving a struggle as TCS persist with this “vertical-silo” approach.

• Prefers to work with customers that are willing to leverage technology and process improvements across and end-to-end process value chain and misses some client opportunities where they are interesting in point-solutions.

• Lacks enterprise-level clients in F&A and a tier 1 Pan-European delivery center. India centric business authority and management restricts growth. TCS continues to have even low-level decision making authority residing with management in India.

• Needs to grow its horizontal F&A capability beyond its vertical silos as TCS struggles to compete on these large scale horizontal deals. Leadership focus is overly-centric on verticals, as opposed to horizontal capability.

• Sales, marketing and influencer relations needs improving. While this is a common issue with some Indian providers, TCS’ BPO “front end” needs to be vastly improved.

Market Share: 1.3%



HP


• Leveraging New Technologies, Security, Social Media, etc.




• Communications & Media • Consumer Packaged Goods • Transportation • Financial Services • Manufacturing

• Smith & Nephew • Proctor & Gamble • Molson Coors • AOL • Tribune Group


• India: Bangalore, Chennai • Poland: Worclaw, Lodz • Costa Rica: San Jose • China: Dalian

• AutoFlow • HP’s Invoice Automation • Newgen • SunGard • Webcollect • AssureNET • ReconNET • eClose • Emagia • HP CART


• Has developed an impressive portfolio of F&A BPO clients over the years in US and Europe, stemming from its flagship Proctor & Gamble relationship.

• SAP strengths put HP in strong position to win deals with heavy SAP-based BPO transformations in F&A and payroll. Still a formidable competitor for BPO deals that require hybrid SAP/BPO services.

• Established brand name in public sector services could bolster business with anticipated adoption of F&A from cash-strapped public sector bodies. The company serves 389 government clients in 31 countries.

• Six Sigma personnel and ISO certification investments remain impressively strong. Overall responses reflect strong quality management. Philosophical focus on quality remains strong.

• Historically strong with CPG clients. Holds an impressive portfolio of these types of clients and have served them well over in the past.

• Recent investments in AutoFlow show commitment to process automation for F&A BPO clients.

• Strengths in F&A have been gleaned from its own shared service center – has helped develop a balance between the transaction and higher end services.

• Can be inflexible. Not openly aggressive with offering gain share type models. The same goes for point solution flexibility with clients - HP seeks to provide and end-to-end solutions.

• HP’s corporate brand deterioration in recent years is hurting sales efforts. Poor leverage gained from EDS acquisition, workforce reductions and generally diluted industry focus have combined to weaken HP’s position in the BPO service market.

• Lagging vertical specific platform offerings. A greater abundance of more vertical-specific solutions would be ideal (as compared to its peers in the FAO space).

• The leadership turmoil with Hurd and Apotheker stunted the development of F&A BPO (and other BPO areas). However, current CEO meg Whitman has made announcements of late that signal a renewed focus on HP’s BPO business.

• Client management still remains a core weakness in terms of execution of delivery.

Market Share: 3.7%



Cognizant


• Flexible Pricing Models to Meet Customer's Needs

• Delivering Industry Specific Solutions



• Manufacturing • CPG • Restaurants • Retail • Communications • Pharma • Healthcare • Financial Services

• Norway Post • Jewson


• India: Chennai, Hyderabad, Pune, Mumbai • Philippines


• The biggest success story in the outsourcing business in recent years, growing from $1bn-$6bn in the last three years. Generally popular with clients for being innovative, energetic and ambitious.

• Deep vertical strategy is creating opportunities for discreet engagements in industries where Cognizant is strong, such as life sciences, banking and hi-tech. For example, it has been able to develop specialized tools and process for its vertical clients in the finance services and life sciences industries.

• Strong focus in analytics and KPO where it can evolve its deep IT relationships.

• Footprint (within India only) and service capabilities have increased significantly as a result of the purchase of UBS’ captive center in India with some knowledge of servicing capital markets. In addition, its 2011 purchase of CoreLogic has bolstered its capabilities in mortgage services and banking BPO.

• Very aggressive IT sales approach helps open doors for having BPO conversations with clients

• Openly understands F&A space has been a weakness and claims it wants to expand these capabilities through organic and inorganic growth. Recent hire of Jose Rodriguez from Accenture should add some experience and rigor to its F&A focus.

• Core focus still remains in the IT domain, in comparison to other providers in the F&A BPO space. Cognizant’s leadership DNA still very much steeped in IT and a desire to be an innovative global IT services provider to rival the likes of Accenture, IBM and TCS.

• Very limited geographic and near-shore presence of F&A services. • Lack of focus on horizontal BPO has prevented Cognizant’s development in

winning significant F&A BPO presence. • Transitions are still a major concern for several clients. Transition planning

and management seem to be a real hurdle for the service provider. • Limited consultative experience and breadth greatly hinders the ability to

drive innovation and continue to work with its customers on the development and discovery of innovation.

• Hard to differentiate its F&A BPO competency against likes of Infosys, TCS and Wipro which are vying for the same position in the market.

• Should seriously look at a major acquisition or two to propel its horizontal BPO capability. This should ideally be an established service provider which a strong book of business. In addition, adding a business transformation consultancy competency would be significantly valuable for the firm. It has the money, perhaps 2013 is the year is makes some significant acquisitive moves.

Market Share: 0.4%


Sutherland


• Flexible Pricing Models to Meet Customer Needs


• Travel • Banking and Financial Services • Insurance • Communications • Retail

• Dell • Qatar Airways • ICICI • Akin Gump Strauss Hauer & Feld • Amlak Finance • Popeyes AFC • Oman Air


• India: Chennai, Thane • US: Tulsa • Bulgaria: Sofia

• Database • Doc Repository/Management • BPM engine • Portal • ETL tools set


• Ambitious privately-held ITO/BPO services firm with $800m in revenues (HfS estimate) eager to gain a foothold in the F&A market.

• While it’s market share is small, the company has had some limited success engaging large clients on end to end O2C processes.

• Has been pushing some compelling engagements in areas such as financial planning and analysis with some success.

• Has hired some energetic F&A executives attempting to break new ground by attacking the mid-market with a platform-based approach.

• Has cash on hand to hire and acquire - and to potentially IPO in the near future.

• Solid business in voice-based BPO services that can be scaled into F&A services.

• 2013 acquisition of Apollo Health Street gives Sutherland real teeth healthcare BPO processes. Shows the intent and appetite of the firm.

• Still operating in “pilot mode” as an F&A provider. Has some good quality executives on board to build a business, but needs significant investment to start getting serious about competing with the High Performers Circle.

• Needs to hire some experienced C-level leaders to add maturity an discipline to the business as it nears IPO.

• Marketing has been virtually non-existent. Brand is practically anonymous.

• Apollo Heath acquisition may indicate that Sutherland is opting for vertical solutions in BPO, as opposed to horizontal capability.

• Needs a major acquisition in F&A to get itself on the map. One of the “Challengers Circle” providers may be a good target if it can raise the capital.

Market Share: 0.0%


Serco


• Flexibility Pricing Models to Meet Customer Needs


• BFSI and Healthcare • Travel & Logistics • Retail • Manufacturing & Utilities • Telecom & IT • Real Estate & Services • Media • Government • Entertainment

• Countyrwide Residential Lettings • Ebookers • Gulliver Travels • TATA Teleservices


• India: Mumbai, Gurgaon, Chennai • UK: Plymouth, Peterborough • USA: Fargo

• E-Invoicing • I Flow • Savvion • Talisma • TDS express • IBPM • Nsite • Omn • Navision


• Powerhouse UK-based services contractor with over $7B in revenues, of which it claims $1B are in BPO-related services. Excellent near-shore or onshore option for UK based business for a multitude of back-office BPO services.

• Intelenet acquisition provided some solid offshore competency to support UK and US businesses, in addition to the local Indian BPO market.

• Very strong footprints in public sector organizations, which could create some large F&A potential in the future.

• The Intelenet acquisition bring Barclays Bank as its major client, in addition to a host of smaller engagements in travel and retail.

• Strong UK-based CRM BPO business which could provide a platform to upsell F&A services.

• Most its BPO business today comes from contact center services, with only the inherited Intelenet business offering a handful of small-scale F&A clients, with the exception of Barclays Bank.

• UK concentrated supplier – still a large portion of annual revenue stems from the UK (~80%) and overall scale or ability to handle large customers is greatly handicapped by total size and geographic limitations.

• Still relatively new on the scene in managing a multitude of value chain activities across a single client.

• General lack of transparency and visibility to clients and prospects – “tends to hide behind doors”.

• Client management teams have been cited as “old school outsourcing” and need to change their approach.

• Serco has to acquire if it is to gain any real traction in the F&A business. Intelenet alone only provides some limited competency and scale.

Market Share: 0.2%


Steria


• Incorporating Customer Feedback


• Healthcare • Retail • Government • Banking • Telecom and Media • Public Sector

• UK Government National Healthcare • British Telecom • Lloyds Bank • NHS Trusts • MyTravel • Authority • BBC


• India: Noidia, Pune, Chennai • Poland: Katowice

• Connect Finance (platform) • Expenses2010 • Nimbus • Digital Fuel • MarkView


• Strong experience with servicing the government sectors within the UK.

• With the acquisition of Xansa in 2007, Serco acquired the ability to provide a full service F&A BPO offering

• The Xansa acquisition has added several notable clients in verticals including the lucrative UK National Health Service Trusts, the BBC, British Telecom retail and Lloyds Bank.

• Strong local IT services capability to bolster BPO capabilities.

• All of Steria’s F&A BPO client base is within the UK.

• Has limited multilingual capabilities and pan--European presence.

• Total scope and scale is quite lacking in comparison to other competitors in this space.

• 2008 crash seems to have limited Steria to bidding on public sector deals, with the company showing very little appetite to diversify beyond the UK.

• With aggressive competition now present in the UK from most of the leading BPOs, the future is cloudy for Steria’s F&A business. It seems content to keep the current business ticking over without making aggressive moves to diversify.

Market Share: 4.4%


Xchanging


• Flexibility to Deliver Both End-to-End and Point Solutions


• Banking • Insurance • Real Estate • Healthcare • Energy • Education • Logistics • Consumer Goods, Retail • Defense, Public Sector

• CBRE • MSC Group, Inc. • Sedgwick CMS • Aon • Mercuria • C&W • Boots • NAGe • Aptech • United Biscuits • BAE Systems

• Headcount: 570 procurement FTEs & 750 F&A FTEs

• UK: London, Preston, Glasgow, Manchester; • APCA: Adelaide, Gurgaon, Bangalore,

Shimoga, Singapore, Sydney; • Europe: Paris, Frankfurt, Berlin, Barcelona; • US: Chicago, Detroit, New York

• X-Flow (AP) • X-Act • VAULT • PayScan • KOFAX • ASPECT


• Very strong in the source-to- pay functions as a result of their focus on procurement outsourcing services and in general, strategic sourcing and procurement.

• Has successfully partnered with F&A customers to deliver sustainable business and process improvements.

• Movement and development into unique and value chain specific services in analytics. Some of the most interesting developments surround the spend management and P2P functions.

• Recent investments in sales and marketing could reap dividends.

• Continued core focus in F&A revolves around the procurement lifecycle in the source to pay value chain of services. F&A BPO activities continue to be limited in scope, size and client base.

• Has failed to develop a real US presence in terms of clients and experience.

• Acquisition of Cambridge Solutions in 2009 has failed to reap dividends in terms of new F&A clients

• More of a lift and shift operation strategy with clients rather than a real innovator in terms of operations. Strongly believes in firstly leveraging on the existing systems that are already implemented with clients building upon existing framework as the base to start off with the processes. Has stayed true to this philosophy for over a decade – many believe it is time to move to a more “solution-oriented” approach.

• Continues to emphasize their execution on the S2P functions.

• Future is unclear after recent financial difficulties and change of leadership. Potentially attractive acquisition target if stock price fails to improve.

Market Share: 0.4%

About the Authors


Founder and CEO, HfS Research

[email protected]

Overview • Over 17 years’ business experience in the global outsourcing and shared

services industry across US, Europe and Asia • An acknowledged industry advisor, strategist, author, speaker, practitioner

and blogger • Advised on 100s of global IT & BPO engagements

Previous Experience • Practice Head for IT Services & BPO Practice, AMR Research (Gartner Inc.) • BPO Marketplace Leader at Deloitte Consulting • Vice President for Everest Group, leading research and consulting teams

based in the US and India.

Prior Career • Regional Director, IDC Asia/Pacific • Program Manager, European IT Markets Services, IDC Europe

Education • BS with Honors in European Business & Technology from Coventry

University, United Kingdom • Diplôme Universitaire de Technologie in Business & Technology from the

University of Grenoble, France

Phil Fersht


Principal Analyst, HfS Research

[email protected]

Overview • Covers the Finance and Accounting and Procurement Outsourcing

industries for HfS Research • An acknowledged industry expert in BPO operations, having worked on

multiple sourcing engagements including in areas such as KPO, FAO, PO and LPO domains

Previous Experience • Served as the outsourcing category manager for State Street Corporation,

acting as an internal advisor for both procurement operations and corporate outsourcing projects

• Initiated and developed State Street’s Outsourcing Center of Excellence, creating corporate outsourcing tools and methodology, and standardizing knowledge for internal business lines to better govern their outsourcing providers and sourcing events

Education • Dual BA in Economics and Philosophy from Trinity College • MBA with an Operations and Supply Chain concentration from

Northeastern University

Brian Dubiel


HfS Research (www.HfSResearch.com) is a leading independent global analyst authority and knowledge community for the business and IT services industry.

HfS is unique in the fact that it serves the research and strategy needs of business operations leaders across finance, supply chain, human resources, marketing, customer management, IT and core industry functions. In addition to researching business operations strategies, HfS educates and facilitates discussion among the world's largest knowledge community of enterprise services professionals, currently comprising 120,000 subscribers. HfS Research also facilitates the HfS Sourcing Executive Council, the acclaimed elite group of sourcing practitioners from leading organizations, which meets on a bi-annual basis to share the future direction of the global services industry and discuss the future enterprise operations framework.

Led by recognized industry expert Phil Fersht, HfS Research differentiates itself with its global team of expert services analysts with real industry experience, provocative and opinionated research, unrivalled market analytics, and a view of technology as an enabler for business process improvement. Its on-demand expertise relationship model helps clients leverage HfS knowledge and strategic insight in a rapid, responsive and engaging manner.

In 2010 & 2011, HfS was awarded Analyst of the Year by the International Institute of Analyst Relations (IIAR), the premier body of analyst-facing professionals, and achieved the distinctive award of being voted the research analyst industry's most Innovative Analyst Firm in 2012.

Now in its sixth year of publication, HfS Research's acclaimed blog “Horses for Sources” is widely recognized as the leading destination for unfettered collective insight, research and open debate of sourcing industry issues and developments.

To learn more about HfS Research, please email [email protected].

About HfS Research

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