Wns Holdings Company Profile & Swot

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Key DetailsCompany Name: WNS (Holdings) LimitedCorporate Headquarters: Gate No. 4, Godrej & Boyce Complex, Pirojshanagar, Vikhroli (West), Mumbai - 400 079Sales Revenue (2011): USD 616.25Million1-Year Sales Growth: 5.80%Net Income (2011): $9.82MTotal Assets: $528.42MNo. of Employees (2011): Above 21,000Established: 1996Quote Symbol Exchange: WNS [New York Stock Exchange]Primary SIC Code: 7389 - Business ServicesIndustry: Business servicesCompany website: http://www.wns.comPhone: 91 22 4095 2100 / 91 22 67976100 1 Created by Abhishek Chikhalkar

Table of Content1. Key Details………………………………………………………………………………………………………………12. Table of Content……………………………………………………………………………………………………..23. Company Overview…………………………………………………………………………………………………34. History of WNS………………………………………………………………………………………………………..45. WNS Family Tree……………………………………………………………………………………………………..56. Products & Services…………………………………………………………………………………………………67. Key People & employee statistics…………………………………………………………………………….88. Company Analysis…………………………………………………………………………………………………….99. Financial Performance…………………………………………………………………………………………….1110. Competitors…………………………………………………………………………………………………………….1211. Significant Development in 2011……………………………………………………………………………..1312. SWOT Analysis…………………………………………………………………………………………………………1413. Conclusion……………………………………………………………………………………………………………….19 2 Created by Abhishek Chikhalkar

Company OverviewAbout WNSWNS is a leading global business process outsourcing (BPO) company. It is engaged in providing services totravel, banking, financial services, insurance, industrial and infrastructure, and emerging services businessesworldwide. The company is involved in providing data, voice, and analytical services to its clients across theglobe. It is also involved in the execution of clients’ business processes, monitoring the processes againstmultiple performance metrics, and continuously improving business processes.Global PresenceWNS network of more than 20 global delivery centers responds to needs for language, cultural alignment,redundancy and 24/7 operations. They have operations based in America, Europe, APAC and Middle East.Americas - USA and Costa RicaEurope - UK and RomaniaAPAC and Middle East – Australia, India, Philippines, Sri Lanka and UAEClienteleWNS serves a diverse client base with over 220 clients across various industries. The company markets itsofferings through 117 sales and sales support professionals based in the US, Eastern Europe, the UK and India.Some of the Major Clients are:  Major US retail bank  European Airline  Leading European travel conglomerate  Leading US residential mortgage bank  Major North American airline  North American travel agency  Leading UK insurer  Leading global beverage brand  Leading Logistics Company  Major energy and gas utility company  Leading hospitality firm  Major US building supply company  Global reinsurer  Global telecom provider  Global Cosmetics Company  Consumer electronics giant  Global market research Company  Leading US financial advisory firm  Major US auto insurers  Two global investment banks  Leading global CPG brand 3 Created by Abhishek Chikhalkar

History of WNS In 1996, WNS Global Services was established. In 1999, The Company started its second delivery station in Pune, India. In 2002, The Company’s majority stakes were acquired by Warburg Pincus. In 2002, the healthcare business of GreenSnow was acquired by the company. In 2002, The Company developed its Knowledge Services Business. In 2002, the business of ClaimsBPO was acquired by the company. In 2003, the company and Scandinavian Airlines entered into an agreement. In 2004, The Company developed delivery centers in Colombo (Sri Lanka) and Gurgaon (India). In 2005, Trinity Partners was acquired by the company. In 2006, The Company was listed on the New York Stock Exchange. In 2006, the company and Wells Fargo & Company entered into a partnership agreement. In 2007, a privately-owned leader in offshore analytics services, Marketic Technologies (India), was acquired by the company. In 2007, The Company entered into an agreement to establish a delivery center in an approved Special Economic Zone (SEZ) in Navi Mumbai. In 2008, The Company’s facility was launched in Manila, the Philippines. In 2008, The companys subsidiary Call 24-7, acquired Chang Limited In 2008, BizAps was acquired by the company for optimizing Finance and Accounting processes. In 2008, The Company signed two different agreements with AVIVA. In 2008, The Company entered into a contract with SAS Airlines. In 2009, The Company’s BizAps acquired XiBuy from Houston-based Paymetric, Inc. In 2009, WNS signed a five year contract with SITA, the worlds leading specialist In air transport communication and information technology (IT) solutions. In 2009, The Company’s WNS Assistance entered into a contract with UK-based Automobile Association Accident Management. In 2009, WNS received the 2009 Golden Peacock Eco-Innovation Award from The World Environment Foundation, for its Green Lean Sigma program. In 2009, WNS entered into a strategic partnership with Trintech Group Plc In 2009, WNS launched its delivery center in San Jose, Costa Rica. In 2009, WNS signed a multi-year contract with Chiquita Brands International, Inc. In 2009, WNS secured a multi-services contract from InterContinental Hotels Group. In 2010, WNS recognized as Best New BPO Locator of the Year at the 2010 International ICT Awards ceremony. In 2010, The companys WNS Global Services were SAP-certified, which enables it to provide hosting and application management services in India and the UK In 2010, The Company launched a new delivery center in Manila, the Philippines. 4 Created by Abhishek Chikhalkar

Family TreeOther Locations WNS Global Services (North America) WNS Global Services (Romania) 420 Lexington Avenue Westgate Unit H1 Suite 2515 10170 197 Luliu Maniu Street, Sector 6 United States Bucharest 061125 Bucharest Tel: +1 212 5996960 Romania Fax: +1 212 5996962 Tel: +40 372 3030000 Fax: +40 372 3030001 WNS UK The Lodge, Harmondsworth Lane West Drayton Middlesex, UB7 0AB United Kingdom Tel: +44 208 7548289 Fax: +44 208 7548570Subsidiaries WNS Global Services Netherlands Cooperative WNS North America, Inc. U.A. DE Netherlands United States WNS Global Services (UK) Limited WNS (Mauritius) Limited United Kingdom Mauritius WNS Philippines Inc. WNS Mortgage Services Private Limited Philippines Gate No. 4, Godrej & Boyce Complex Pirojshanagar Mumbai, Maharashtra 400 079, India Tel: +91 22 40952100 WNS Customer Solutions (Singapore) Private WNS Customer Solutions (Private) Limited Limited Sri Lanka Singapore Baizan International Software Technology Marketics, Inc. (Beijing) Co. Ltd. China DE United States Hi-Tech Off shoring Services Private Limited Call 24-7 Limited India United Kingdom 5 Created by Abhishek Chikhalkar

Products & ServicesWNS Global Services is engaged in providing offshore business process outsourcing services.The key services of the company are:  Business process outsourcing (BPO) services  Data services  Voice services  Analytical services  Client processing servicesThese services, WNS bifurcated into two section i.e. Industry Focused Solutions and Cross IndustrySolutions. Industry Focused Solutions (BPO Solutions) Banking and Financial Services Communication Industry  Banking Operations Outsourcing  Customer Acquisition  Lending Outsourcing Services  Operations and CRM  Asset Management and Brokerage  Sales and Contracts Administration Outsourcing  Order Provisioning and Order Management Healthcare Industry Insurance Industry  DME Manufacturers  Property and Casualty  Payers and Third Party  Life, Pensions and Annuities Administrators  Providers Shipping & Logistics Industry Manufacturing Industry  New Product Development  Supply Chain Planning and Execution  Marketing and Order Management  Operations  After Sales and Support Retail and Consumer Products Industry Travel and Leisure Industry  Supply Chain Management  Sales and Customer Care  Logistics  Operations  Sales, Marketing and Customer  Platform Based Service Offerings Care Utilities and Energy Industry  Sales Management  Meter Operations and Billing  Customer Service Management  Customer Financial Management  Supply Chain and Distribution Management 6 Created by Abhishek Chikhalkar

Cross Industry SolutionsLegal Services Customer Care Outsourcing  Property Law  Services  Personal Injury Claims  Channels (Voice, White Mails, Chat,  Law Firm Back Office email)  Corporate Legal Support  LanguagesFinance and Accounting Outsourcing Procurement Outsourcing  Procure to Pay  Supplier Research and Analysis  Record to Report  Sourcing Support and Administration  Supply Chain Finance  Contract Management  Industry-Specific Accounting  Market Intelligence  Order to Cash  Competitive Intelligence  Procurement Analytics  Performance ReportingResearch and Analytics Outsourcing Transformation Solutions  Business and Financial Research  Consulting and Program Management  Market Research Services  Domain Based Analytics  Process and Quality Services  Data Services: Business Intelligence  Technology Services and Reporting  Business Services7 Created by Abhishek Chikhalkar

Key People & Employees statistics Corporate Management TeamEric B. Herr Chairman WNS GroupKeshav Murugesh CEO WNS GroupAlok Misra CFO WNS GroupR. Swaminathan Chief People Officer WNS GroupSanjay Jain Head, Global TransformationPracticeMike Garber Global Head, Sales and MarketingManish Vora Head of Sales, Asia Pacific and Middle East regionRonald Strout Chief of Staff and Head-Americas Business Unit Management TeamAmbreesh Mahajan Business Unit Leader, Utilities and Head, International Delivery LocationsAnup Basrurkar Business Unit Leader, Banking and Financial ServicesArun Kharbanda Business Unit Leader, Research and Analytics ServicesC S Anand Business Unit Leader, Shipping and Logistics ServicesDavid P. Spencer BU Leader Manufacturing, Telecom, Retail and Consumer Packaged Goods,Diversified BusinessesDeepak Gupta Business Unit Leader, Contact Center OperationsEdwin Harrell Chief Executive Officer, WNS AssistanceGautam Barai Business Unit Leader, Insurance ServicesJohn Westfield Business Unit Leader, Travel and Leisure ServicesSulakshana Patankar Business Unit Leader, India Business and Strategic InitiativesTasneem Lakdawalla Business Unit Leader, Finance and Accounting ServicesAs per LinkedIn, Before WNS Global services, Employees worked at Genpact LLC, EXL Services, IBM GlobalProcess services and Wipro BPO. After WNS Global services, most of the WNS employees went to Accenture,Cognizant, Capgemini, Tata Consultancy Services, Evalueserve, Intelenet Global services and Infosys.Note - Employee statistics are based on 5,345 LinkedIn users at this company. For example, Out of 5,345 WNSemployees, 47% of users are in General & Administrative function and 54% of users of same function in Peercompanies of WNS. 8 Created by Abhishek Chikhalkar

Company AnalysisBusiness SegmentsThe business of the company is operated through two segments, name WNS Global BPO segment and WNS namely,Auto Claims BPO segment. For the fiscal year ended March 2011, the revenue generated from WNS GlobalBPO segment amounted to $332.647m, a decrease of 2.59% over 2010. The segment accounted for 53.80% ofthe companys total revenue in 2011. Whereas, the WNS Auto Claims BPO segment generated revenue of l$284.429m, an increase of 17.51% over 2010. The segment accounted 46.20% of the companys total revenuein 2011.Region-wiseGeographically, the company operates its business in four regions, namely, the UK, Europe (excluding the UK),North America, and Rest of the World. For the fiscal year ended March 2011, the UK region reported 60.9% of ,the company’s total revenue, followed by North America (22.2%), Europe (15.9%), and Rest of the World (1%) ),of the companys total revenues. 9 Created by Abhishek Chikhalkar

Industry & their ServicesIn April 2011, the company reorganized its offerings into various business units, namely, Insurance,travel and leisure, banking and financial services, consulting and professional services, healthcare, utilities,Shipping and logistics, and manufacturing, retail, consumer products, telecom and diversified Businesses. For gistics,the fiscal year ended March 2011, Company’s Insurance business contributed 60.1% of the total revenues ofthe company; followed by travel and leisleisure (13.6%), manufacturing, Retail, consumer products, telecom and ,Diversified businesses (8.9%), banking and financial Services (4.3%), consulting and professional services , ,(4.3%); healthcare (4.2%); utilities ( ); (3.2%); and Shipping and logistics (1.6%) of the companys total revenues. ) 10 Created by Abhishek Chikhalkar

Financial PerformanceThe company reported revenues of (USD) $616.25 million during the fiscal year ended March 2011, an increase of5.80% over 2010. The operating profit of the company was $12.05 million during the fiscal year 2011, a decrease of50.93% from 2010. The net profit of the company was $9.46 million during the fiscal year 2011, an increase of155.04% over 2010. Annual revenue & Net Income of last 5 years Stock & Share details Traded: New York Stock Exchange: WNS rd As of 3 June,2011 USD Recent Price $9.33 High Price $11.98 Low Price $9.30 EPS $0.21 Market Cap 468.9 Shares Outstanding 44 11 Created by Abhishek Chikhalkar

CompetitorsThough WNS believes in delivering High Business Value, deep Domain expertise and Operational excellence, thereis a stiff competition in BPO Industry. Some of the Major Competitors are:  Infosys Technologies Limited  Tata Consultancy Services Limited  Firstsource Solutions Limited  ExlService Holdings, Inc.  Accenture Plc  Genpact Limited  HP Enterprise Services  Affiliated Computer Services, Inc.  IBM Competitive Landscape of Top 3 Competitors 2011 Key Details WNS (Holdings) Infosys ExlService Holdings Genpact Annual Sales $616.25M $6,041.00M $252.75M $1,258.96M Employees 21,958 130,820 12,700 45,500 Location India India USA Bermuda 2011 Annual Sales comparison 12 Created by Abhishek Chikhalkar

Significant Development in 2011WNS Opens New Center in Europe rdOn 23 May, 2011, in London, WNS announced the opening of its fourth office in Europe at Hyde Park Hayes,Middlesex, to support its rapid expansion in the region. This new facility will house WNSs consulting division,revenue recovery group, client partners and general administration for Europe.Everest Groups Top 5 2010 FAO Market Star Performers thOn 7 April, 2011, WNS was recognized as one of the five star performers in the Finance and AccountingOutsourcing (FAO) services domain in 2010. WNS was identified as a 2010 FAO star performer based on therelative movement on the Everest PEAK Matrix for FAO from 2009 to 2010 of 20+ FAO service providers. WNS washonored to be recognized among the 5 FAO Market Star Performers by Everest Group, for the second consecutiveyear.Star Alliance appoints WNS as Preferred Vendor for Sales Audit and Revenue ProtectionServices thOn 15 March, 2011, WNS announced that it has been appointed as a preferred vendor with Star Alliance toperform audit and revenue protection services for its member airlines. Under the agreement, WNS will offer a TMcomprehensive revenue recovery service through state-of-the-art Web-based service called Verifare to protectcarriers revenue.BPO Excellence Awards 2010-11 thOn 15 Feb, 2011 WNS was awarded the distinguished Stars of the Industry - BPO Excellence Awards in twocategories ‘Social Change Agent and Use of Technology’ for Operational Excellence. WNS is honored to receivethis dual recognition.WNS Wins the Golden Peacock National Quality Award thOn 29 Jan, 2011, in Mumbai, The Institute of Directors, a non-profit apex association of company directorscommitted to improving the competitiveness of Indian Business, has awarded WNS (Holdings) Limited (NYSE:WNS), the Golden Peacock National Quality Award for the year 2011, for its excellence in deliveringtransformational and cutting-edge outsourcing solutions.Fourth Quarter and Full Year Fiscal 2011 EarningsOn 31st March, 2011, WNS announced results for the fiscal fourth quarter and fiscal year 2011 ended March 31,2011. Revenue for the fiscal fourth quarter 2011 increased by 1.2 percent to $159.5 million, compared to $157.6million in the corresponding quarter in the prior fiscal year, and increased by 4.5 percent sequentially from $152.7million in the fiscal third quarter of 2011. 13 Created by Abhishek Chikhalkar

SWOT Analysis Strength Weaknesses  Excellent Client base  Over dependence on UK Operations  Strong Market presence  Reliable on Limited Customers  Wide Service offerings  Current Financial Health Opportunities Threats  Growth of BPO Industry  High Competition  Recognitions  Changes in Technology Strength- Excellent Client base WNS provides various BPO services to 220 clients across the world. The company serves a large, diversified client base across Asia, Europe, Middle East and North America. It offers BPO services to clients across the multiple sectors of the insurance, travel and leisure, banking and financial services industries and other industries such as consulting and professional services, healthcare, utilities, shipping and logistics, and manufacturing, retail, consumer products and telecom. The company services more than 31 airlines, hotels and travel intermediaries. It also serve a large US-based financial advisory provider, a top ten UK auto insurer, a large insurance loss adjuster, several self-insured fleet owners and several mortgage-related companies. Strong Market presence WNS has a wide presence across the world including, client service offices located in New York (the US), New South Wales (Australia), London (the UK), and Singapore and delivery centers in San Jose (Costa Rica), Bangalore, Chennai, Gurgaon, Mumbai, Nashik and Pune (India), Manila (the Philippines), Bucharest (Romania), Colombo (Sri Lanka) and Ipswich and Manchester (the UK). According to the National Association of Software and Service Companies, (NASSCOM), an industry association in India, WNS is among the top three India based offshore business process outsourcing companies based on export revenue for fiscal year ended. 2010. According to the Shared Services & Outsourcing Network (SSON), WNS is the one of the India-based BPO services provider which is recognized as the Best New Outsourced Services Delivery (2010). 14 Created by Abhishek Chikhalkar

Wide Service Offerings WNS provides technology services such as enterprise resource planning and business applications, mail room and business process management services, business intelligence and analytical tools, infrastructure and network services, and industry specific platforms and developments to various industries including travel, banking, financial services and insurance services (BFSI), industrial and infrastructure services, and emerging services. It provides research and analytics services including, market, business, and financial research and analytical services such as business and financial research, market research, domain specific analytical services, data services and business services to pharmaceutical companies, consulting firms, market research companies and investment banks. WNS also offers industrial and infrastructure services for logistics, manufacturing, telecommunications and utilities industries. The companys emerging services are provided to consumer products, retail, professional services, Pharmaceuticals and media and entertainment industries. Weaknesses- Over dependence on UK Operations WNS generates a significant amount of revenue from the UK region, which could have an adverse impact on its business operations. In 2011, the company generated 76.8% of its total revenue from the UK, followed by North America by 22.2% and Asia Pacific with 1%. The Economic conditions of the UK region are not favorable, which could affect the companys Operations. The trend of depending on the UK was evident in the previous fiscal years as well, as the Company derived similar percentage of its total revenue in 2010 and 2009 from the UK The over dependence on a particular region could increase the risk of the company. If the business environment of the region turns adverse or the demand declines, then it will have an adverse affect on the operations of the company. 15 Created by Abhishek Chikhalkar

Reliable on Limited Customers In 2011, the largest client contributed 16.4% of the companys total revenue and 20.4% of its revenue less repair payments. In 2011, WNSs three largest clients individually accounted for 16.4%, 13.2% and 12.2%, respectively, of its total revenue as compared to 15.5%, 13.4% and 12.6%, respectively, in 2010. Its biggest client, AVIVA, individually accounted for 20.4% of the companys total revenue less repair payments compared to 23.1% in 2010. The top five clients of the company derived 54.3% of the companys total revenue in 2011 as compared to 53% in 2010. Similarly, its top ten and twenty clients derived 65.8% and 77.8% in 2011, as compared to 64.8% and 76.5% in 2010. It indicates that the company generated a significant portion of its revenue from limited set of clients, which increases the risks associated with a particular business operation. The concentration of revenue from limited number of clients could adversely affect the profitability of the company Financial Health The decline in the operating margins and increase in the cost represents the companys poor financial operations, which may adversely affect its business commitments and also hamper its growth. The company’s operating income accounted for $12.05m in 2011, a decrease of 50.9% over $24.56m in 2010. The companys operating margin decreased to 1.96% in 2011 as compared to 4.217% in 2010. This was below the IT Services & Consulting sector average of 4.52%. A lower than sector average operating margin may indicate inefficient cost management or a Weak pricing strategy by the company. The operating margin has decreased 226 bps over 2010 which may indicate managements low focus on profitability. 16 Created by Abhishek Chikhalkar

Opportunities- Growth of BPO Industry India is the leading geography for providing BPO services, followed by Canada, the Philippines, and Central and Eastern Europe. Such growth in BPO market could enhance the demand for the companys BPO offerings, increasing its revenue. According to the estimates of NASSCOM, the Indian BPO industry has grown at 19% during 2010 to $76 billion. Also, the BPO export market in India is expected to grow 14% to cross $14.1 billion in 2011. The global BPO market is expected to generate $450 billion in revenue by 2012. The economic slowdown will drive globalization as companies will use offshore outsourcing not only to reduce costs, but also to expand their abilities to leverage growth opportunities in emerging markets. Recognitions The strong recognitions and honors show the companys market leading capabilities and operational potentiality to perform for further growth. In April 2011, WNS recognized as one of the five star performers in the Finance and Accounting Outsourcing (FAO) services domain in 2010. In February 2011, the company awarded the distinguished Stars of the Industry - BPO Excellence Awards in two categories: Social Change Agent and Use of Technology for Operational Excellence at the World HRD Congress. In January 2011, The Institute of Directors awarded WNS, the Golden Peacock National Quality Award 2011, for its excellence in delivering transformational and cutting-edge outsourcing solutions. WNS received the NetApp Enterprise Innovation Award, for demonstrating innovative deployment of NetApp products. Furthermore, the company was also recognized as Best New BPO Locator of the Year at the 2010 International ICT Awards ceremony. 17 Created by Abhishek Chikhalkar

Threats- High Competition WNS faces very high competition from world’s leading BPO service providers. It faces competition from Infosys Technologies Limited, Tata Consultancy Services Limited, Firstsource Solutions Limited, ExlService Holdings Inc., International Business Machines Corporation, Accenture Plc, Genpact Limited, HP Enterprise Services and Affiliated Computer Services, Inc. The competitors of the company are the world’s leading players with better resources than the company hence the competitors may raise product quality and offer them at highly competitive prices, which may impact the operations of WNS. WNS operates its business in a highly competitive environment thus increase in competition could affect the company’s financial position. Changes in Technology WNS services offerings are characterized by rapid technological changes, which may affect its business operations. Inability to study the evolving technological landscape may impact the company’s competitive position. The introduction of products using new technologies or the adoption of new industry standards could make existing products, or products under development, obsolete or unmarketable. 18 Created by Abhishek Chikhalkar

Conclusion WNS’ mission is to strengthen the operating performance and reputation of their clients by managing and operating their business processes. Wide range of service offerings, Current market presence and strong Client base place the company at an advantage over its peers. The major drawback is declining operating margin, dependence in limited customers and too much reliable on UK Operations. In future, the companys growth could be limited owing to factors such as rapid technological changes and competitive environment. However, the growing BPO markets and awards and recognitions could provide growth opportunities to the company.19 Created by Abhishek Chikhalkar

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