Though there are numerous claims and reports suggesting that the Indian BPO industry is facing a crisis now and is on the verge of losing out to foreign countries like Philippines, China and Brazil, the industry is still going strong as per the latest statistics and financial information’s coming out.
The biggest indicator of the positive growth of the industry recently is the announcement made by Hexaware Technologies related to a contract it had acquired from a United States based Multi National Company. The deal is announced to be worth around $177 million which for a BPO standard is pretty big. The contract is for a period of 5 years.
The structure of the business is that the company will be getting incremental business revenue worth 100 million dollars and extended existing revenue worth another 77 million dollars.
Hexaware has a long tale of association with this US MNC and has contributed significantly to the growth of the US Company. This deal further shows the strength of the bond between the two.
The deal also comes as a good news for the Indian BPO industry as a whole in the global scenario as it will help to ally recent fears of lack of quality citing by several foreign US and European clients. The best example is the withdrawal of Europe’s premier lending institution Santander’s outsourcing contract with Mphasis a month ago.
The news of the Hexaware deal has instilled a new aura of confidence and trust in the hearts of potential foreign clients as they are now assured of quality services from Indian BPO firms. The company as per the agreed contract will be offering BPO services in a diverse environment span across sectors such as ERP, BI, Quality Assurance and Testing Services, Business Process Outsourcing (BPO) and Application Management Services.
For the fulfillment of the contract Hexaware is expected to beef up its support personal headcount to over 600 plus employees who are expected to operate out of their Global Delivery Centers.
Hexaware is believed to be offering IT and ITES services from around 15 different global centers and the company has been benchmarked for excellent and timely execution of deliverables.
Because of the sheer size of the new contract the company is all set to roll out a phased manner of operations that will cover the entire contract activities within a period of 2 years.
The Philosophy of “Your Success is our Focus” has helped Hexaware Technologies scale new heights in the field of Information technology and ITES. The latest mega deal is just a proof of this fact. This major deal has struck at the right time when Indian BPO firms needed a relief from the recent criticism and this is expected to put everything back on track.