EXL Services, a leading business process outsourcing (BPO) company, is on an expansion spree to cater to its US and UK clients. It is planning to acquire a financial BPO outfit in eastern Europe for about of $15 million (around Rs 60 crore). Plans are also afoot to set up another BPO unit in the Philippines, primarily to expand its voice portfolio in the region, for which it will invest around $7 million (around Rs 28 crore).
Rohit Kapoor, president and COO, EXL Services, said, “We are planning to set up a 500-seat facility in the Philippines within the next 4 to 6 months and the centre will primarily expand our voice services for the existing set of our US clients.”
Also keen to add an operating BPO or captive unit in eastern Europe in the next 12 months, EXL feels the cost of acquiring an agent organically is much higher at $20,000 a year compared with $5,000 a year in India. “A running business should give us a readymade clientele and business know-how. We are eyeing companies with revenues of around $10-25 million,” said Kapoor.
The banking, financial services and insurance (BFSI) sector, which contributes nearly half of EXL’s revenues, clearly remains a key buyer of the company’s outsourcing services in the UK, with companies driven to reduce their costs further and skills shortages through outsourcing.
Read more in The Business standard article.
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