Firstsource – Moving away from offshore only BPO model
SOURCE: EconomicTimes
DATE: August 25th, 2010
In an interview with FirstSource new CEO, Matthew Vallance the article talks about the future growth strategies FirstSource is looking to grow their BPO business ( LINK). To compete with the larger players, firstsource which had an early mover advantage and a strong domestic backer in India is looking at ways to grow. Despite the strong local backing and a number of acquisitions, partnership which FirstSource made, it has not been able to scale it’s business or grow a brand beyond the local markets.
With the new CEO looks like FirstSource is looking at building deeper specialization, looking at carveouts, expanding geographies to places like Australia and looking beyond partnerships to directly go to market. Firstsource through it’s acquisition has over 2,000 people in the US and 3,500 people in the UK ( total employee strength as of end of March was around 25,000). Revenues for year ending March 2010 were around $413 million of which 60% came from the US , 27% from the UK and 13% from APAC. Their attrition rate for the March 2010 quarter was 43.5% for India and Philippines and 34.5% in US and UK.
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