Mumbai, June 5: Genpact, the business process outsourcing (BPO) arm of GE, has overtaken WNS in terms of the top third party BPO in the country.
Getting out of the captive business has helped Genpact tremendously as they have emerged beating WNS to the top spot.
Last year saw the transition of Genpact from a part captive to a complete third party BPO company.
According to the National Association of Software and Service Companies (Nasscom) survey of top 15 third party BPO companies, Genpact has topped the list followed by WNS and Wipro BPO at the second and third positions respectively.
While Genpact has reaped the benefits, others have not been so lucky. For example, IBM-Daksh is at the sixth position, while Progeon, the BPO arm of Infosys, finds itself at number seven and TCS BPO is ranked 14th in the list.
The rankings are based on revenues for 2005-06 reported as per the annual Nasscom survey on IT industry performance. A Nasscom spokesperson, however, refused to give away the actual revenues of each company.
“In 2005-06, the industry size and growth exceeded our forecasts, reflecting strong demand. The entire software and services industry is expected to record revenues of $36-38 billion in financial year 2007, we expect the ITES-BPO segment to continue its growth momentum and expect exports to cross $8 billion during financial year 2007,” said Kiran Karnik, president of Nasscom, in a statement.
Finance and accounting, customer interaction and human resource administration accounted for 89 per cent of the industry revenues in the financial year 2004-05. While Banking and Financial services (BFSI) has emerged once again as the most mature verticals in terms of offshore ITES - BPO adoption, pharmaceuticals and life sciences sector has emerged as one of the fastest growing IT-ITES spends and significantly under-penetrated offshore potential.
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 per cent.
