Industry Trends Report - Q4 2012 - Preview Deck
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Industry Trends Report - Q4 2012 - Preview Deck

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The quarterly Industry Trends reports are focused on providing industry-specific data, developments, and insights. Industry Trends provide the research and analysis that enable users to navigate ...

The quarterly Industry Trends reports are focused on providing industry-specific data, developments, and insights. Industry Trends provide the research and analysis that enable users to navigate through complexity and make clear, effective decisions contextualized and suited to their specific industry. These reports provide detailed information on transaction activities, Global In-house Center (GIC) developments, service providers' market shares, and key outsourcing transactions specific to particular industries.Industry Trends series currently covers 8 industries (Banking, Financial Services, & Insurance; Manufacturing, Distribution, & Retail; Energy & Utilities; Healthcare; Technology; Telecom; Public Sector; and Travel and Hospitality) which account for majority of the outsourcing and offshoring activity.

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    Industry Trends Report - Q4 2012 - Preview Deck Industry Trends Report - Q4 2012 - Preview Deck Presentation Transcript

    • Market Vista: Q4 2012 – Preview DeckMarket Vista Copyright © 2013, Everest Global, Inc. EGR-2013-8-PD-0824
    • Our research offerings for global servicesSubscription information Market Vista The full report is included in Global services tracking across functions, sourcing models, locations, and the following subscription(s) service providers – industry tracking reports also available – Market Vista Banking, financial Healthcare Finance & accounting In addition to published services, insurance research, a subscription may include analyst inquiry, data Information cuts, and other services Procurement Cloud Vista technology If you want to learn whether your organization has a Human resources Recruitment process Global sourcing subscription agreement or request information on pricing and subscription options, Service provider Transaction PricePoint please contact us: Intelligence Intelligence – info@everestgrp.com – +1-214-451-3110 Custom research capabilities  Benchmarking | Pricing, delivery model, skill portfolio  Peer analysis | Scope, sourcing models, locations  Locations | Cost, skills, sustainability, portfolio  Tracking services | Service providers, locations, risk  Other | Market intelligence, service provider capabilities, technologies Copyright © 2013, Everest Global, Inc. 2 EGR-2013-8-PD-0824
    • Table of contents Product overview Illustrative contents Copyright © 2013, Everest Global, Inc. 3 EGR-2013-8-PD-0824
    • The increasing complexity of the outsourcing market hasamplified the risk exposure for companiesFactors driving increased risk Examples of risksVendor and model proliferation Multiple Regulatory riskservice providers and business models Ensuring compliance with regulatory guidelines in source and destination countries across service providersLarge span of functions Performance riskTypically combination of many IT, BPO and Business case risk Managing quality ofsome KPO services Managing wage service delivery, attrition, inflation without knowledge retentionIncreasing scope affecting quality ofSignificant proportion of operations now in service Data security andlow cost locations intellectual property risk Implementing measures toGlobal delivery chain safeguard data andServices often delivered from multiple intellectual property Concentration risklocations with diverse risk footprint Business continuity riskDynamic economiesMost delivery locations are emerging Currency riskeconomies going through rapid change ….Most large companies have capabilities in global risk management. However, the level and type of riskexposure that is emerging from the globalization of services is unprecedented Copyright © 2013, Everest Global, Inc. 4 EGR-2013-8-PD-0824
    • Sourcing leaders are being asked to manage risks associatedwith global sourcing and support the delivery oftransformational results Are there What is the real What are my opportunities inflation and how peers doing? to optimize my does it compare to pricing? price increases in my portfolio? Are there new What new service delivery govt. incentives models/ service providers are How can I better that I can avail? my peers leveraging? manage forex changes? What new risks are Are their any new my service political or macro- Who are the How are the providers taking on? economic risks I need emerging service relative costs to be aware of NOW ? providers in my moving across areas? locations? Key decisions that Sourcing managers need to support  Comparison with peers  Location risk management  service provider selection and optimization  Design of new deals  Price benchmarking and contract renewals Copyright © 2013, Everest Global, Inc. 5 EGR-2013-8-PD-0824
    • Market Vista provides continuously updated facts andanalysis every quarter to enable effective management ofglobal services portfolios Each quarterly Market Vista report captures developments across three key areas1 2 3Market overview Location trends and risks Service provider developments Outsourcing transactions  Key location developments  Key developments among 20 trends – Establishment of new leading global service – Transaction analysis – By offshore centers, expansion providers function, geography, deal of existing centers, plans of – Financial performance size and duration, etc. establishment and – Transaction activity – Transaction analysis by expansion of centers – Changes in delivery industry verticals (more  Risk dashboard capturing key footprint details in Industry Trends current and emerging risks – M&A and alliance activity reports) – Geo-political / economic – Listing of major IT/BPO changes outsourcing deals – Government initiatives  Detailed profiles for each – Large offshore deals  Quarterly focus – Fact-base on player capturing key Analysis of GICs Asian locations developments across – New GIC set-ups, – Sustainability of arbitrage dimensions divestures – Operating costs, inflation – Plans for GIC set-ups and rates, and currency trends expansion across key cities Copyright © 2013, Everest Global, Inc. 6 EGR-2013-8-PD-0824
    • Additional Market Vista deliverablesGlobal Location Insights Breaking Viewpoints on keynewsletter developments Market Vista Primers 4-6 published 8-10 published 4-5 published every year every year every year E-newsletter published every two  Event/theme based e-briefings  Published every quarter months  Recent topics included  Recent topics included Recent topics included – The Risky Side of Offshore – Global sourcing trends in U.S. – Healthcare BPO in Philippines Growth: Operational Challenges Mortgage industry – Service providers’ location- in the Top five Indian IT Majors – Contact center service providers related plans – Perspective on M&A events in Latin America – China’s offshore maturity (Atos-Siemens IT, iGate-Patni, – French language service – Buyer’s offshoring plans Wipro-SAIC’s Oil & Gas IT providers in EMEA Business) Copyright © 2013, Everest Global, Inc. 7 EGR-2013-8-PD-0824
    • Table of contents Product overview Illustrative contents Copyright © 2013, Everest Global, Inc. 8 EGR-2013-8-PD-0824
    • Each section of the quarterly report comprises 30+ pages ofinsight and dataIllustrative Table of Contents (page 1 of 2)TopicSection I A: Trend analysis – Outsourcing, offshoring, and GICs Outsourcing transactions analysis Outsourcing transaction trends by time period Offshore transactions analysis GIC developmentsSection I B: Data snapshots Major deals signed in the quarter List of mega deals signed in the quarter Examples of very large deals signed in the quarter Examples of large deals signed in the quarter Analysis of outsourcing transactions by buyer revenue List of new GIC announcements in the quarter List of GICs with announcements for expansion in the quarter List of GIC divestures in the quarterSection II A: Trend analysis – Risk and opportunity dashboard and analysis Risk and opportunity dashboard Risk and opportunity analysisSection II B: Focus geography Arbitrage sustainability Operating costs Operating cost inflation Currency trends Copyright © 2013, Everest Global, Inc. 9 EGR-2013-8-PD-0824
    • Each section of the quarterly report comprises 30+ pages ofinsight and dataIllustrative Table of Contents (page 2 of 2)TopicSection II C: Data snapshots Market activity: Delivery centers established in the quarter Market activity: Delivery centers planned in the quarter Market activity: Expansion announcements in the quarter Regional developments: Geopolitical, macroeconomic environment Regional developments: Leading economic indicators Regional developments: Investment environmentSection III A: Trend analysis – Key developments across service providers Service provider developments overview Analysis of service provider developmentsSection III B: Data snapshots – Details of key developments and profiles by service providers Recent M&A activity by service providers Recent alliances and partnerships forged by service providers Locations Key market developments Copyright © 2013, Everest Global, Inc. 10 EGR-2013-8-PD-0824
    • Section I – Market section | OverviewCaptures outsourcing transactions trends, GIC developments with an emphasis onlarge size contractsMarket overview | Outsourcing/offshoring market index GIC set-ups | By region Index of outsourcing transactions1 Index of offshore captive health1 Number Number Europe: XX captive set-ups 2 Captive set-ups = New + Expansion  XXXX opened its shared business service center in XXXX Rest of Asia: XX captive set-ups Captive divestures =  XXXX opened its new BPO center  XXXX opened its new R&D facility in XX in XXXX XXXX XX  XXXX opened an R&D facility in XXXX XX XX  XXXX opened its new center in XXXX XX Middle East and Africa: XX captive set-ups XX  XXXX opened its first regional support center in XXXX  XX opened its new customer service XX XX center in XXXX XX XX Latin America: XX captive set- XX XX XX ups  XXXX opened a new shared India: XXXX captive set-ups QX Year Y-1 QX-1 Year Y QX Year Y QX Year Y-1 QX-1 Year Y QX Year Y services center in XXXX  XXXX opened an R&D center in XXXX  XXXX opened a new R&D center in XXXX  XXXX opened a new R&D center in XXXX  Transaction volumes decreased by XX% compared to the previous quarter but increased by XX% compared to the previous year  Captive activity remained similar compared to previous quarters, with XX new announcementsMajor deals in the quarter List of mega deals signed in the quarterDistribution by deal size Distribution by industry verticals Distribution by source geographyNumber of transactions Number of transactions Number of transactions Three-quarter moving average2 Mega deals (TCV >= US$1 billion) 100% = XX 100% = XX 100% = XX Number XXXX XXXX XXXX XX% XX XX XX XX XX XX% XX% XXXX XXXX XX% XXXX XX% XX% QX Year Y-1 QX+1 Year Y-1 QX+2 Year Y-1 QX+3 Year Y-1 QX Year Y XX% XXXX XXXX XX% XXXX XX% XX% List of mega deals signed XXXX XX% XX% XX% XXXX Deal value Contrac XXXX XXXX Industry Service (US$ t Functiona Buyer vertical provider million) duration l scope Services  There were XX major deals (total contract  Apart f rom the XXXX sector, the XXXX and  XXXX and XXXX accounted f or ~XX% of the value exceeding US$XX million) reported in XXXX industry verticals accounted f or around major deals signed in the quarter Buyer 1 XXXX XXXX XXXX XXXX ITO IT ADM QX 20XX, compared to XX in QX 20XX XX% of all major deals Buyer 2 XXXX XXXX XXXX XXXX ITOIncludes over 15 pages and IT ADM; IT infrastructure – datacenter,  XXXX and XXXX also reported some major  XX mega deals (total contract value exceeding  XXXX, XXXX, and XXXX industry verticals deals in this quarter of data tables across helpdesk US$XX billion) were reported in QX, compared reported mega deals Buyer 3 XXXX XXXX XXXX XXXX BPO and BPO – HRO, procurement, real estate, and to XX in the previous quarter ITO transactions, GICsIT infrastructure – industry-specific; IT ADM; and The following pages provide details for mega deals (TCV>US$1 billion), very large deals (TCV - US$200-999 million), and large deals (TCV - US$50-199 million) financial helpdesk network, and services Copyright © 2013, Everest Global, Inc. 11 EGR-2013-8-PD-0824
    • Outsourcing transactions analysis | By deal typeProfiles the share of renewed/restructured deals compared to the previous quarterand the same quarter of the previous yearNumber of transactions by type Major outsourcing transactions reaching the end of theirNumber of transactions contract duration over the next few months100% = XX XX XX Buyer Service provider Function scope Renewals/ XX% XX% XX% Buyer 1 XXXX XXXX restructuring1 Buyer 2 XXXX XXXX Buyer 3 XXXX XXXX Buyer 4 XXXX XXXX Buyer 5 XXXX XXXXNew transaction XX% XX% XX% signings QX Year Y-1 QX-1 Year Y QX Year Y 1 Instances where the scope of existing contract was extended or expandedSource: Everest Group Transaction Intelligence Database Copyright © 2013, Everest Global, Inc. 12 EGR-2013-8-PD-0824
    • Section II – Locations section | OverviewKey developments and emerging risks and opportunities across locationsLocations | Market activity heatmap Locations | Risk and opportunity dashboard XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX D B XXXX Czech Republic Poland Romania Hungary C C Bulgaria XXXX Morocco China Mexico Egypt India El Salvador Philippines Panama Costa Rica Malaysia Singapore A XXXX B B Brazil XXXX Chile South Africa ArgentinaLocations | Focus geography Locations | Market activity data Operating cost per FTE for IT services US$’000s/per annum Asia XX XX XX XX XX Service XX provider/ Number XX Country City Month captive of FTEs Other comments China XXXX XXXX XXXX XXXX XXXX City 1 City 2 City 3 City 4 City 5 City 6 City 7 China XXXX XXXX XXXX XXXX XXXX Operating cost per FTE for BPO services China XXXX XXXX XXXX XXXX XXXX US$’000s/per annum India XXXX XXXX XXXX XXXX XXXX XX XX India XXXX XXXX XXXX XXXX XXXX XX XX XX Includes over 20 pages XX India XXXX XXXX XXXX XXXX of data tables on market XXXX XX India XXXX XXXX XXXX XXXX XXXX activity, costs, wage City 1 City 2 City 3 City 4 City 5 City 6 City 7 inflation, etc. Copyright © 2013, Everest Global, Inc. 13 EGR-2013-8-PD-0824
    • Locations | Market activity indexAnalyzes trends in activity across regions; also compares activity in tier-1 cities andtier-2/3 citiesMarket activity across geographies Market activity across Tier-1 and Tier-2/3 locationsNumber of service delivery centers set up Number of service delivery centers set up QX-1 Year Y QX Year Y Year Y-1 Quarterly average XX XX XX XX XX XX XX XX XX XX XX XX XX XX XX Region 1 Region 2 Region 3 Tier-1 Tier-2/3 XX delivery centers were set up during the quarter, XXXX than previous quarter Although location activity increased significantly in XXXX and XXXX, the number of delivery centers established in XXXX decreased to a XX-month low Though players set up centers in both tier-1 and tier-2/3 locations, there was XXXX activity in tier-XX locationsSource: Everest Group analysis Copyright © 2013, Everest Global, Inc. 14 EGR-2013-8-PD-0824
    • Section II – Locations section | Illustrative outputEach quarterly report will cover a deep-dive on a specific geography/ themeLocations | Focus geography Locations | Regional developments Projected sustainability of labor arbitrage ITO SERVICES Region Key developments Number of years Asia  China – – XXXX Base scenario – Most Pessimistic scenario – Optimistic scenario – – XXXX probable operating cost higher operating cost Lower operating cost – XXXX Source/destination inflation and currency inflation and currency inflation and currency countries appreciation appreciation appreciation  India – U.S.-XXXX XX XX XX – XXXX – XXXX U.S.-XXXX XX XX XX – XXXX U.S.-XXXX XX XX XX  Thailand – BPO SERVICES – XXXX – XXXX Eastern  Estonia – Base scenario – Most Pessimistic scenario – Optimistic scenario – Europe – XXXX probable operating cost higher operating cost Lower operating cost Source/destination inflation and currency inflation and currency inflation and currency  Hungary – countries appreciation appreciation appreciation – XXXX U.S.-XXXX XX XX XX  Poland – U.S.-XXXX XX XX XX – XXXX U.S.-XXXX XX XX XX – XXXXLocations | Regional developments Locations | Focus geography Annual change in real estate rentals (grade A) Region Key developments Percentage Asia  Sri Lanka – – XXXX -X% City 1 – XXXX  XXXX  XXXX  India – -X% City 2 – XXXX – XXXX  XXXX  XXXX Africa  Egypt – City 3 X% – XXXX – XXXX – XXXX City 4 X%  XXXX – XXXX  XXXX City 5 X%  XXXX  XXXX Includes a deep-dive on -X% City 6 emerging locations  XXXX  XXXX covering costs, inflation, City 7 X% currency trends, etc. Copyright © 2013, Everest Global, Inc. 15 EGR-2013-8-PD-0824
    • Section III – Service provider developments | OverviewProfiles developments across 20 leading service providers, highlighting keyimplications for sourcing managersService provider developments analysis | Transaction Service provider developments analysis | M&A andactivity alliances Transaction announcements activity in QX Year Y and trend over QX-1 Year Y Increased from last quarter M&A by service provider category Alliances by service provider category ITO deals BPO deals Both ITO & BPO Similar to last quarter Number of acquisitions Number of alliances Service provider Number Trend Number Trend Number Trend Decreased from last quarter High activity XX XX Service provider 1 XX XX XX  XXXX Service provider 2 XX XX XX  XXXX Service provider 3 XX XX XX XX XX Service provider 4 XX XX XX  XXXX Offshore-centric XX XX Service provider 5 XX XX XX  XXXX service providers Service provider 6 XX XX XX Offshore-centric Service provider 7 XX XX XX XX service providers XX Moderate activity Service provider 8 XX XX XX Service provider 9 XX XX XX Service provider 10 XX XX XX XX Service provider 11 XX XX XX Traditional global XX Traditional global Service provider 12 XX XX XX XX service providers XX Service provider 13 XX XX XX service providers Service provider 14 XX XX XX Service provider 15 XX XX XX Service provider 16 XX XX XX Service provider 17 XX XX XX QX-1 Year Y QX Year Y QX-1 Year Y QX Year Y Low activity Service provider 18 XX XX XX  XXXX Service provider 19 XX XX XX  XXXX Service provider 20 XX XX XXService provider developments | Market Vista Index of Key market developmentsservice providers Recent transaction activity Announcement TCV estimate Traditional global service providers Offshore-centric service providers Buyer name date (US$ million) Duration (years) Services Buyer 1 XXXX XXXX XXXX AO, FAO, and HRO Buyer 2 XXXX XXXX XXXX AO Buyer 3 XXXX XXXX XXXX AO Buyer 4 XXXX XXXX XXXX AO Buyer 5 XXXX XXXX XXXX AO Buyer 6 XXXX XXXX XXXX AO Buyer 7 XXXX XXXX XXXX AO and FAO Buyer 8 XXXX XXXX XXXX IO Buyer 9 XXXX XXXX XXXX AO Buyer 10 XXXX XXXX XXXX CC and industry- specific BPO Buyer 11 XXXX XXXX XXXX AO Includes over Location footprint Location Status Employees Description 40 pages of data tables XXXX New center XXXX  XXXX on M&A, new delivery This section focuses on the key developments of the above service providers across financial (Planned)  XXXX performance, recent transactions, major developments in location footprint, mergers, acquisitions, XXXX New center XXXX  XXXX centers, management and alliance activity (Planned)  XXXX changes, etc. Copyright © 2013, Everest Global, Inc. 16 EGR-2013-8-PD-0824
    • Service provider developments analysis | Ratings summary Limited activity Moderate activity High activity M&A and M&A andService Location alliance Overall Service Location alliance Overallprovider New deals changes activity rating provider New deals changes activity ratingTraditional global service providers Offshore-centric service providersService Serviceprovider 1 provider 12Service Serviceprovider 2 provider 13Service Serviceprovider 3 provider 14Service Serviceprovider 4 provider 15Service Serviceprovider 5 provider 16Service Serviceprovider 6 provider 17Service Serviceprovider 7 provider 18Service Serviceprovider 8 provider 19Service Serviceprovider 9 provider 20Serviceprovider 10Serviceprovider 11Source: Everest Group (2011) Copyright © 2013, Everest Global, Inc. 17 EGR-2013-8-PD-0824
    • Market Vista encompasses a suite of offeringsMultiple delivery formats allow Global Sourcing Managers to access information in away that supports the decision-making process Standard subscription Premium subscriptionMarket Vista offering Description access (annual) access (annual) Quarterly report with in-depth coverage of transaction, Quarterly Report location, and service provider trends   Quarterly brief of expert perspectives on emerging Primer market trends (e.g., new pricing models)   Annually updated database of location stats (e.g., cost, Location database attrition, inflation rates) for 23 major cities   Flash reports highlighting breaking industry news and Breaking viewpoint expert perspectives on key implications   Bi-monthly Global Location Insights e-newsletter Locations insights e-newsletter containing detailed country and region info   Exclusive quarterly webinars with stakeholders in the Exclusive webinars subscriber organization on key market trends and developments highlighted in Market Vista research  10 hours of analyst access per year for personalized Analyst consultation insights and additional perspectives  Copyright © 2013, Everest Global, Inc. 18 EGR-2013-8-PD-0824
    • Trends reports complement Market Vista quarterly reports byproviding in-depth coverage of global sourcing across industryverticals and regions Market Vista Buyer Geography Trends reports Market Vista Industry Trends reports Regions tracked Industries tracked  United States and Canada  Banking, Financial  Healthcare  Europe Services, & Insurance  Technology  Rest of the World (RoW), including Asia Pacific (BFSI)  Telecom (APAC), Latin America (LATAM), and Middle East &  Manufacturing, Distribution,  Public Sector Africa (MEA) and Retail (MDR)  Travel & Hospitality  Energy & Utilities (E&U) 30+ pages of analysis on each industry vertical/region every quarter Outsourcing transaction GIC set-up and expansion Service provider trends and activity activity Processes and models developments Decreased from last quarter Similar to last quarter Increased from last quarter Current quarter Previous year ITO by process1 ITO by process1 Q2 2011; Frequency of occurrence 2010; Frequency of occurrence Change in number of ITO Total = 354 Total = 1,381 transactions, by process1 Q2 10 to Q2 11 Q1 11 to Q2 11 Application development 111 472 Application 90 348 maintenance Systems integration 87 307 Datacenter 60 263 Network 81 339 Desktop 34 139 Helpdesk 27 138  Transaction activity was higher among IT ADM processes than IT infrastructure  Adoption of ITO processes in Q2 2011 was similar to that in 2010 (yearly average)  Adoption of Desktop process declined compared to the previous quarter Trends in transaction volumes,  GIC set-ups, expansions, and  Process-level and subprocess-  Service provider performance contract values, and momentum divestures level transaction trends (transactions, market shares) Events with industry impact  Analysis of buyers, locations,  Emerging opportunity areas  Significant deals signed by and scope of work offshored leading enterprises Copyright © 2013, Everest Global, Inc. 19 EGR-2013-8-PD-0824
    • Appendix: Additional research recommendationsThe following documents are recommended for additional insight into the topic covered in this report. The recommendeddocuments either provide additional details on the topic or complementary content that may be of interest:1. Market Vista: Q3 2012 (EGR-2012-8-R-0776); 2012. This report summarizes the key trends and developments for Q3 2012 in the global offshoring and outsourcing market2. Industry Trends reports: Trends for Q3 2012. These reports provide industry-specific data, developments, and insights that enable global sourcing managers to navigate through the complexity, and make clear, effective decisions, contextualized and suited to their specific industry. These reports provides a deep-dive into the transaction activity, GIC developments, service provider market share, and key outsourcing transactions specific to the industry. Industries covered include: Banking, Financial Services, and Insurance (BFSI); Manufacturing, Distribution, and Retail (MDR); Energy and Utilities (E&U); Healthcare; Technology; Telecom; Public Sector; and Travel and Hospitality3. Buyer Geography Trends reports: Trends for Q3 2012. These reports provide data, developments, and insights on outsourcing and offshoring trends for a particular buyer geography/region. These reports provide the research and analysis that enable users to navigate through complexity and make clear, effective decisions suited to their focus region. These reports provide detailed information on transaction activities, Global In-house Center (GIC) developments, service providers’ market shares, and key outsourcing transactions specific to particular regions. Regions covered include: U.S. and Canada; Europe; and Rest of the World For more information on this and other research published by Everest Group, please contact us: H Karthik, Vice President – Global Sourcing: h.karthik@everestgrp.com Salil Dani, Practice Director: salil.dani@everestgrp.com Anurag Srivastava, Practice Director: anurag.srivastava@everestgrp.com Everest Group Two Galleria Tower 13455 Noel Road, Suite 2100 Phone: +1-214-451-3110 Dallas, TX 75240 E-mail: info@everestgrp.com Copyright © 2013, Everest Global, Inc. 20 EGR-2013-8-PD-0824
    • Everest GroupLeading clients from insight to actionEverest Group is an advisor to business leaders on the next generation of global services with a worldwide reputation for helpingGlobal 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. With afact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use anddelivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting,original research, and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent andsourcing models, technologies, and management approaches. Established in 1991, Everest Group serves users of globalservices, providers of services, country organizations, and private equity firms in six continents across all industry categories. Formore information, please visit www.everestgrp.com and research.everestgrp.com.Dallas (Corporate Headquarters) Toronto India / Middle Eastinfo@everestgrp.com canada@everestgrp.com india@everestgrp.com+1-214-451-3000 +1-416-865-2033 +91-124-496-1000New York Londoninfo@everestgrp.com unitedkingdom@everestgrp.com+1-646-805-4000 +44-207-129-1318Stay connectedWebsites Twitter Blogswww.everestgrp.com @EverestGroup www.sherpasinblueshirts.comresearch.everestgrp.com @Everest_Cloud www.gainingaltitudeinthecloud.com Copyright © 2013, Everest Global, Inc. 21 EGR-2013-8-PD-0824