Banking and Financial Services Offshoring: From Transaction Processing to Analytics (Indian Customers)

With growth rates of 30 to 35%, India’s revenues from banking and financial services offshoring is likely to reach $6.5 billion by FY2011. However, this is still a fraction of the “offshoreable” market potential. Arun Jethmalani, CEO says, “Growth in Indian offshore revenues from the BFS vertical will outpace overall BPO growth, driven by expansion into higher value services, especially research and analytics”.

Almost 50% of the world’s biggest banks in terms of asset size already have significant presence in India. The smaller, regional banks are also expected to take to offshoring in a big way in future. The need to manage increasingly complex global operations in a cost-effective manner, and added workload due to regulatory compliance such as SOX, Spitzer’s Settlement ruling and Basel II norms are major offshoring drivers.

The offshore vendor landscape is made up of:

Captives of MNC banks and financial institutions such as Morgan Stanley, JP Morgan, Goldman Sachs, Lehman Brothers,TSB Lloyds, Scope International
Among third party players are:
Large multi-service companies like Genpact, EXL Service, WNS;
Multi-service BPOs with IT parents such as Wipro BPO, Progeon, MphasiS BPO and iGate
Large KPOs such as Evalueserve, OPI and Integreon
Large players and niche specialists are best positioned to exploit the large opportunity.
Ribhu Ranjan, analyst and co-author of the report expects that going forward, regional and mid-tier financial firms the world over will adopt a multi-location, multi-vendor offshoring model, signaling a preference for global sourcing.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Banking and Financial Services firms looking to outsource/offshore
Outsourcing consultants to evaluate and compare the offerings of vendors
Banking and Financial Services vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on financial services offshoring
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=1
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Offshoring Legal Services to India: An Update

The India revenues from legal services offshoring are slated to grow from $146 million for the calendar year 2006 to reach $640 million by end 2010. The industry employed around 7,500 people in the legal offshoring space in India as of end 2006. The number of employees is expected to reach 32,000 by end 2010.

The study focuses on eight broad segments: Legal transcription, Document review, Litigation support, Legal research, Intellectual Property, Contract related services, Secretarial and Legal publishing services.

The Indian vendor space has over 100 service providers that can be categorized into three groups: Captive centers of corporates, Third party - Niche service providers (Stand-alone LPOs) and Third party - Multiservice providers. Third party vendors dominate the LPO space by employing the majority of the workforce in the sector. However, vendors with niche focus and multi-service providers differ distinctly in terms of service offerings and capability.

According to Arun Jethmalani, CEO, “While most vendors start by offering lower value services and gradually move up the value chain by demonstrating domain skills and gaining client confidence, there are others who focus on specific high-end services or niches.” Adds Neeraja Kandala, analyst and co-author of the report, “High volume services like Document review, eDiscovery, Legal publishing as well as niche areas in Intellectual Property and Contract services will drive future growth in legal services offshoring.”

Based on our exhaustive primary research and analysis of this sector, It has identified a “List of frontrunners” which includes Evalueserve, Integreon, OfficeTiger, CPA Global, Mindcrest, Pangea3 and Quislex. We have also identified ”Emerging players” that have potential to emerge as winners within their chosen niches. These include players like LawScribe, New Galexy, SDD Global Solutions, Tusker Group, Aptara, Lason and Quattro BPO.

The report: “Offshoring Legal Services to India: An Update” provides an in-depth information and analysis of the Indian vendor space along with vendor profiles of all major and upcoming players.

The report provides an in-depth analysis of the Indian vendor space along with profiles of all major industry players. The report is designed to help:

Law Firms, Corporations, Lawyers, Legal publishers looking to outsource/offshore
Outsourcing consultants evaluate and compare the offerings of vendors
Offshored Legal service providers to assess their competitive environment
American and European corporations/lawfirms looking for Indian partners
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on legal services outsourcing

Law Firms will find this report invaluable in understanding the capabilities of vendors, and selecting the best fit.

The report is based on secondary data as well as extensive interviews with key people at various legal services outsourcing companies in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=11072
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The US Medical Transcription Industry: Perspective on Outsourcing and Offshoring

The medical transcription outsourcing grabbed a lot of media attention in India during 1995 - 97, well before ‘BPO’ became a household term. People were excited about the huge opportunity that India had hit upon. However, the industry witnessed a rough patch around 2000. Today, the USD 195 million strong industry is silently supplying to the USD 12 billion medical transcription industry in the US.

We have classified vendors into three primary groups:

Indian units of large US players - Typically comprise American companies or Medical Transcription Service Organizations (MTSOs) who have successfully set up their transcription centers in India. The large players include CBay, Spheris, Spryance, Acusis and Heartland. These large players account for almost 70 percent of Indian medical transcription offshoring revenues.

Mid-sized players - There are a number of medium sized players (< 500 employees) in India. Most of them work as franchisees or vendors of the larger players and have limited marketing presence in the US.

Smaller players - There are a large number of such small players with <50 employees. These players are subcontractors to the other two groups and suffer from unreliable revenue flows.

It estimates the current employment in the India-based medical transcription vendors is approximately 18,000 and expects this to grow to 52,000 by 2010. According to Arun Jethmalani, CEO, although there will be significant growth in the medical transcription outsourcing space, most of it will be centered around the MTSOs.

The report “The US Medical Transcription Industry: Perspective on Outsourcing and Offshoring” report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Hospitals, healthcare institutions and medical transcription service organizations looking to outsource/offshore
Outsourcing consultants evaluate and compare the offerings of vendors
Medical transcription vendors to assess their competitive environment
American medical transcription companies looking for Indian partners
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on medical transcription outsourcing
The report is based on secondary data as well as extensive interviews with key people at various medical transcription outsourcing companies in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=15095
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Offshoring of Automotive Design & Engineering Services to India (Indian Customers)

The automobile industry, especially in the US and Europe is facing intense competitive pressures - rising labour costs, shorter product cycles, dropping profitability and rapid growth in emerging markets. This has created a set of enabling factors, or drivers, that are forcing Original Equipment Manufacturers (OEMs) and auto ancillaries to explore outsourcing and offshoring options.

Offshore Indian vendors stand to gain substantially, as outsourced engineering and design is set to witness double-digit growth for the next five years. According to a latest report, revenues from automotive design and engineering offshoring are expected to cross US $1 billion by 2010, from US $270 - $300 million in 2005. Estimates also show that the industry employs 12,000 people in India and is likely to see 30 per cent growth every year for the next three years.

Offshore Indian vendors can be categorized into four groups:

Captives - GM, Delphi, Ford
Subsidiaries of Indian auto OEMs - Mahindra, Hero, Eicher
Independent engineering design firms - Plexion, DC Design, Neilsoft
Indian IT services firms - TCS, Wipro, Infosys

Of these vendor groups, apart from the captives, subsidiaries of Indian auto OEMs are best positioned to offer end-to-end design and engineering services. This is on account of their domain knowledge, and financial muscle to invest in organic and inorganic growth to build capabilities. Rather than piecemeal sub-contracting of design, engineering and manufacturing jobs, auto companies would prefer vendors offering end-to-end services or complete solutions in future. This provides an entry point for more Indian auto ancillaries to move from pure manufacturing to providing the complete range of solutions – from design to manufacture to delivery.

Analyst Niranjan Natu says that “IT firms will gain too, as they will be well poised to marry their expertise in embedded systems with the rising share of electronics in auto”. However, it will become imperative for Indian service providers to move up the value chain because other countries such as China will provide tough competition for low-end services.

Independent engineering and design firms will be hot targets for mergers and acquisitions as companies with greater financial strength, primarily IT firms, subsidiaries of Indian OEMs and ancillaries look to acquire capabilities and clients.

The report “Offshoring Of Automotive Design And Engineering Services To India” is based on extensive interviews with key people at various automotive design outsourcing companies in India.

It provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Automotive companies, OEMs and ancillary suppliers
Outsourcing consultants evaluate and compare the offerings of vendors
Automotive engineering and design service vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on automotive engineering and design outsourcing

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=20023
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Banking and Financial Services Offshoring: From Transaction Processing to Analytics

With growth rates of 30 to 35%, India’s revenues from banking and financial services offshoring is likely to reach $6.5 billion by FY2011. However, this is still a fraction of the “offshoreable” market potential. Arun Jethmalani, CEO says, “Growth in Indian offshore revenues from the BFS vertical will outpace overall BPO growth, driven by expansion into higher value services, especially research and analytics”.

Almost 50% of the world’s biggest banks in terms of asset size already have significant presence in India. The smaller, regional banks are also expected to take to offshoring in a big way in future. The need to manage increasingly complex global operations in a cost-effective manner, and added workload due to regulatory compliance such as SOX, Spitzer’s Settlement ruling and Basel II norms are major offshoring drivers.

The offshore vendor landscape is made up of:

Captives of MNC banks and financial institutions such as Morgan Stanley, JP Morgan, Goldman Sachs, Lehman Brothers,TSB Lloyds, Scope International
Among third party players are:
Large multi-service companies like Genpact, EXL Service, WNS;
Multi-service BPOs with IT parents such as Wipro BPO, Progeon, MphasiS BPO and iGate
Large KPOs such as Evalueserve, OPI and Integreon
Large players and niche specialists are best positioned to exploit the large opportunity.
Ribhu Ranjan, analyst and co-author of the report expects that going forward, regional and mid-tier financial firms the world over will adopt a multi-location, multi-vendor offshoring model, signaling a preference for global sourcing.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Banking and Financial Services firms looking to outsource/offshore
Outsourcing consultants to evaluate and compare the offerings of vendors
Banking and Financial Services vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on financial services offshoring
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=20141
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Insurance Outsourcing: India Gains Momentum As Offshoring Intensifies

The Indian offshore insurance services (BPO) industry is estimated to be worth $690 million in 2006, and is expected to grow at a CAGR of 30% a year up to FY2010, driven by the need to reduce costs, differentiate products in an increasingly competitive environment, and ensure regulatory compliance.

The research also expects insurance outsourcing from UK and Europe based insurance carriers to grow faster than US based insurance carriers in the next two to three years. This business will increasingly seek new, innovative business arrangements, which are hybrids between captive and third party models.

The offshore vendor landscape is made up of :

Captives of large insurance carriers, mainly based in the US and Europe, such as Aviva, AXA, Prudential, Allianz, Principal, etc.

Indian offshore third party BPO vendors which include,  

Large third party BPO vendors like Genpact, WNS, EXL Service, etc 
BPO offshoots of IT majors such as TCS, Wipro, Infosys, etc
Mid-tier vendors - mostly large BPO vendors with a relatively small insurance presence - such as IBM Daksh, Patni BPO, HCL BPO, etc
Smaller, undifferentiated vendors

In the future, we will see a rising trend towards outsourcing of higher-end processes such as underwriting, actuaries and analytics to the larger third party BPO vendors, who are fast gaining capabilities in these areas. “By FY2010″, says Arun Jethmalani, CEO,”a large number of Indian vendors will have evolved into mature, end-to-end service providers, competing with multinational outsourcing companies”. Players like Genpact, WNS and EXL Services, as well as BPO offshoots of IT companies like IBM, TCS, Infosys (Progeon) and Wipro will emerge as formidable global players in the next few years.

Arpita Bedekar, analyst at report expects “greater offshoring of high-end, higher-value services like analytics, actuaries and underwriting to push industry average billing rates upwards by more than 25 percent in the next two to three years”.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Insurance companies looking to outsource/offshore
Outsourcing consultants to evaluate and compare the offerings of vendors
Insurance services vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on financial services offshoring  
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=25417
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Insurance Outsourcing: India Gains Momentum As Offshoring Intensifies (India Customers)

In the future, we will see a rising trend towards outsourcing of higher-end processes such as underwriting, actuaries and analytics to the larger third party BPO vendors, who are fast gaining capabilities in these areas. “By FY2010″, says Arun Jethmalani, CEO,”a large number of Indian vendors will have evolved into mature, end-to-end service providers, competing with multinational outsourcing companies”. Players like Genpact, WNS and EXL Services, as well as BPO offshoots of IT companies like IBM, TCS, Infosys (Progeon) and Wipro will emerge as formidable global players in the next few years.

Arpita Bedekar, analyst at report expects “greater offshoring of high-end, higher-value services like analytics, actuaries and underwriting to push industry average billing rates upwards by more than 25 percent in the next two to three years”.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

Insurance companies looking to outsource/offshore
Outsourcing consultants to evaluate and compare the offerings of vendors
Insurance services vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on financial services offshoring  

This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=25418
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Offshoring Tax Returns Preparation to India

Indian accountants are gaining expertise in preparing 1040s, 1065s and 1120s. It is estimated that in 2006, approximately 360,000 Returns were prepared by Indian vendors, garnering $40 million in revenues. Shortage of accountants and the grueling tax season are the prime offshoring drivers. CPA firms are discovering that Returns are not only turned around faster, but are also 40% to 60% cheaper.

It is estimated that in 2011, 1.6 million US tax returns will be prepared from India, for $200 million, for a largely 4-month activity. Significantly, Returns preparation is expected to lead the way for a host of other accounting services that can be effectively outsourced to India. These estimates are conservative and the potential is as high as 22 million returns that could come to India.

The offshore vendor landscape is made up of :

Captive units of the Big Four: KPMG, PriceWaterhouseCoopers, Deloitte and Touche’ and Ernst&Young

American facilitating firms / agencies with or without captives in India: Xpitax, SurePrep, CCH, IFR

Large multi-service BPOs in India: Datamatics, MphasiS BPO, OPI

Smaller multi-service BPOs in India: PB Tech Impact Solutions, Cosmic Internet Technologies

F&A BPOs owned / controlled by Indian Chartered Accountants: GKM Management services, Business Accounting Services, Accountant Anywhere, Enablizer

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

US CPA firms looking to outsource/offshore
Global accounting firms and departments to gain understanding of the Indian vendor space
Potential vendors / facilitators to assess opportunities
Outsourcing consultants to evaluate and compare the offerings of vendors
Returns preparation vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on F&A offshoring
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=26437
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Offshoring Tax Returns Preparation to India (Indian Customers)

Indian accountants are gaining expertise in preparing 1040s, 1065s and 1120s. It is estimated that in 2006, approximately 360,000 Returns were prepared by Indian vendors, garnering $40 million in revenues. Shortage of accountants and the grueling tax season are the prime offshoring drivers. CPA firms are discovering that Returns are not only turned around faster, but are also 40% to 60% cheaper.

It is estimated that in 2011, 1.6 million US tax returns will be prepared from India, for $200 million, for a largely 4-month activity. Significantly, Returns preparation is expected to lead the way for a host of other accounting services that can be effectively outsourced to India. These estimates are conservative and the potential is as high as 22 million returns that could come to India.

The offshore vendor landscape is made up of :

Captive units of the Big Four: KPMG, PriceWaterhouseCoopers, Deloitte and Touche’ and Ernst&Young
American facilitating firms / agencies with or without captives in India: Xpitax, SurePrep, CCH, IFR
Large multi-service BPOs in India: Datamatics, MphasiS BPO, OPI
Smaller multi-service BPOs in India: PB Tech Impact Solutions, Cosmic Internet Technologies
F&A BPOs owned / controlled by Indian Chartered Accountants: GKM Management services, Business Accounting Services, Accountant Anywhere, Enablizer
The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

US CPA firms looking to outsource/offshore
Global accounting firms and departments to gain understanding of the Indian vendor space
Potential vendors / facilitators to assess opportunities
Outsourcing consultants to evaluate and compare the offerings of vendors
Returns preparation vendors to assess their competitive environment
Venture Capital companies looking for investment opportunities
Researchers looking for detailed information on F&A offshoring
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=26438
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US Healthcare Revenue Cycle Management: Offshoring of Medical Coding and Billing Services

The Indian share of BPO revenues from the offshoring of revenue cycle management (RCM) services is estimated at USD 125 million for the year 2006. This report Research the total revenues from this segment to reach USD 410 million by 2011.

Two of the “core” processes in revenue cycle management (RCM) services are medical coding and billing. In this report, we have discussed billing and coding within the context of RCM services. The emphasis (and estimates) for this report relate to medical coding and billing. Medical transcription, which is another “specialized” service not offered by “generic” BPOs has not been covered in this report, and revenue and manpower estimates exclude medical transcription.

The RCM industry in India is still at a nascent stage. While there are certain large vendors offering end-to-end RCM services such as Perot Systems, Apollo Health Street, Zavata and Ajuba there are few others focused on offering certain specific services such as medical coding, payment posting, accounts receivable, etc.

It has been recognized four vendors as potential winners in this space: Ajuba, Apollo Health Street, Perot Systems and Zavata.

The report provides an overview of the buyer scenario and an in-depth analysis of the Indian vendor space along with profiles of major industry players. The report is designed to help:

US hospitals, physician groups and US based RCM companies looking to outsource/offshore
Potential vendors / facilitators to assess opportunities
Outsourcing consultants to evaluate and compare the offerings of vendors
Outsourcing consultants to evaluate and compare the offerings of vendors
Researchers looking for detailed information on RCM offshoring
This study is based on secondary data as well as extensive interviews with key people at various BPOs (captive as well as third-party) in India.

For more information, kindly visit :
http://www.bharatbook.com/detail.asp?id=30028
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