The document summarizes the key findings of the Global ISG Outsourcing Index for the third quarter of 2013. Some of the main points include: - Global outsourcing contract value (ACV) reached nearly $6 billion for 3Q13, a 1% increase year-over-year, marking the best third quarter performance. - Restructuring ACV was $2.6 billion for 3Q13, the highest quarter to date, driven by nine mega-relationship restructurings. - IT outsourcing saw the strongest growth, with 3Q13 ACV of $4.4 billion, a 15% increase year-over-year, the best third quarter performance

1. Hosted by:
SK Prasad Borra, Rishi Jhunjhunwala and Paul Thomas
Goldman Sachs
10 October 2013
The Global ISG Outsourcing Index
Third Quarter 2013
Market Data and Insights

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Covering the state of the outsourcing industry for global, commercial contracts.*
Welcome to the 44th Quarterly Outsourcing Index Review
Esteban Herrera
Partner
John Keppel
Partner & President
Dr. David Howie
Partner

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At a Glance
Scorecard
3Q13 3Q Y/Y 3Q Q/Q YTD YTD
ACV ($B)* Change Change ACV ($B)* Change
Global Market $ 5.8 1% 66% $ 14.1 -20%
New Scope $ 3.2 -19% 21% $ 8.3 -30%
Restructurings $ 2.6 42% 200% $ 5.8 3%
Mega-relationships $ 1.4 -15% 119% $ 3.4 -26%
ITO $ 4.4 15% 102% $ 9.7 -13%
BPO $ 1.4 -29% 5% $ 4.4 -31%
Americas $ 1.8 -7% 65% $ 4.9 -26%
EMEA $ 3.5 16% 89% $ 7.8 -5%
Asia Pacific $ 0.5 -41% -13% $ 1.4 -47%
‘‘‘‘BEST 3Q PERFORMANCE EVER FOR BOTH ACV AND NUMBER OF CONTRACTS AWARDED
GREATEST 3Q PERFORMANCE EVER IN RESTRUCTURING MARKET DRIVEN BY 9 RESTRUCTURING MEGA-RELATIONSHIPS
STRONGEST 3Q ITO PERFORMANCE EVER IN TERMS OF BOTH ACV AND NUMBER OF CONTRACT AWARDS, WHILE
BPO ACV SLOWS FOR SECOND STRAIGHT QUARTER ON INCONSISTENT LARGE DEAL ACTIVITY
EMEA HAS STRONGEST 3Q PERFORMANCE EVER,
DRIVEN BY MEGA-RELATIONSHIPS AND GENERALLY HIGH CONTRACTING ACTIVITY
AMERICAS AND ASIA PACIFIC DOWN Y/Y DUE TO LACK OF LARGE DEALS AND
WEAK PERFORMANCE IN THE TRADITIONAL LEADING INDUSTRY SECTORS

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3Q Broader Market ACV of just under $6B was up 1% Y/Y and up 65% Q/Q and
resulted in the best third quarter ever.
Year-to-date Broader Market ($B)*
Year-to-date Contracting Counts
Broader Market Contract Award Trends
$8.3
$11.8
$9.8
$12.0
$9.6$9.6
$7.6$8.5$8.2$8.4
$5.8
$5.7
$5.6
$4.4
$4.1$3.9
$2.9$2.6$3.5$3.7
201312111009080706052004
$0
$5
$10
$15
$20
1H ACV 3Q ACV
485
601604
505
472
364299295262297
353255273
228208
191
14912911596
-
200
400
600
800
1,000
201312111009080706052004
1H Counts 3Q Counts

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New scope ACV of $3.2B was off 19% Y/Y against a tough 3Q12 compare, but up
21% Q/Q. Restructuring ACV of $2.6B was the highest quarter to date.
Restructuring Year-to-date ACV ($B)*
Broader Market New Scope & Restructuring Trends
New Scope Year-to-date ACV ($B)*
Restructuring Year-to-date CountsNew Scope Year-to-date Counts
$5.1
$8.0$7.1
$8.7
$7.4
$7.4
$6.1$5.0
$6.3$7.0
$3.2
$3.9
$3.1
$2.6
$3.1$2.8
$2.3
$2.0
$2.5
$2.4
201312111009080706052004
$0
$2
$4
$6
$8
$10
$12
$14
1H ACV 3Q ACV
$3.2$3.8$2.6$3.4$2.2$2.2$1.5
$3.5
$1.9$1.4
$2.6$1.8
$2.5$1.8$1.0$1.0$0.7
$0.6
$1.0$1.3
201312111009080706052004
$0
$2
$4
$6
$8
$10
$12
$14
1H ACV 3Q ACV
352
454453
392365
291245232211249
238
198205
171172
154
1281099175
-
100
200
300
400
500
600
700
201312111009080706052004
1H Counts 3Q Counts
133147151
1131077354635148
115
5768
573637
21202421
-
100
200
300
400
500
600
700
201312111009080706052004
1H Counts 3Q Counts

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$1.4
$0.7
$1.4$1.0
$1.7
$2.2
$0.8
$2.3
$1.7
$1.1$0.9$0.7
$1.4$1.2$1.3$1.4$1.1$1.3
$3.3
$1.9
$2.8$2.9$2.8$2.5
$3.6
$3.1
$2.7
3Q132Q1Q4Q3Q122Q1Q4Q3Q11
105879126126
201613232023231821
323
187
256242
226241
296
270
246
3Q132Q1Q4Q3Q122Q1Q4Q3Q11
Ten Mega-relationships were awarded in 3Q13, yet the market is being driven
increasingly by smaller contract awards.
Broader Market Quarterly Counts by Bands
Broader Market Contract Trends by Deal Size
Boarder Market Quarterly ACV(B)* by Bands
$5-39M $40-99M $100M +$5-39M $40-99M $100M +

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3Q ITO ACV of almost $4.4B was up 15% Y/Y and 100% Q/Q. ITO ACV performance
was the best third quarter ever.
ITO Year-to-date ACV ($B)*
ITO YTD Industry ACV ($B)*
ITO Contract Award Trends
$5.3
$7.3
$6.3
$9.2
$6.8$6.5$5.7$6.3$6.0
$4.8
$4.4
$3.8
$3.9
$3.2
$3.0$2.6
$1.9$1.6$2.4
$2.8
201312111009080706052004
$0
$5
$10
$15
1H ACV 3Q ACV
ITO Year-to-date Counts
298
374377
316320
230194173165184
247
164166
131136
119
95
727062
-
100
200
300
400
500
600
201312111009080706052004
1H Counts 3Q Counts
$2.04
$2.58
$0.69
$1.31
$1.38
$0.67
$0.64
$0.36
$- $1 $2 $3 $4
Manufacturing
Financial Services
Telecom & Media
Energy
Travel, Transport, Leisure
Healthcare & Pharma
Business Services
Retail
YTD 3Q12 YTD 3Q13

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3Q BPO ACV of just under $1.4B was down 29% Y/Y but up 5% Q/Q. YTD
performance slowed as BPO dropped 31% from a year ago.
BPO Year-to-date ACV ($B)*
BPO YTD Industry ACV ($B)*
BPO Contract Award Trends
BPO YTD Counts
$3.1
$4.5
$3.5
$2.9$2.8$3.1
$2.0$2.2$2.2
$3.6
$1.4
$1.9
$1.7
$1.2$1.1$1.3
$1.0$1.0$1.1
$0.9
201312111009080706052004
$0
$2
$4
$6
$81H ACV 3Q ACV
187
227227
189152
13410512297113
10691
107
97
72
72
54
57
4534
-
100
200
300
400
201312111009080706052004
1H Counts 3Q Counts
$1.18
$0.68
$1.08
$0.45
$0.37
$0.17
$0.33
$0.17
$- $0.5 $1.0 $1.5 $2.0
Financial Services
Manufacturing
Telecom & Media
Energy
Travel, Transport, Leisure
Business Services
Healthcare & Pharma
Retail
YTD 3Q12 YTD 3Q13

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85% of the Top ITO Provider list is unchanged from previous years. The Top BPO
group has more turnover, yet 40% of Top BPO providers do repeat year-to-year.
Top Service Providers Across the Globe
Notes: Service providers in alphabetical order; no rankings implied.
Placements based on ACV from commercial contract awards sourced from ISG Contracts Knowledgebase ®.
Accenture
AT&T
Atos
BT
Capgemini
CGI
CSC
Dell
HCL
HP
IBM
Infosys
Tech Mahindra
Nihon Unisys
Polaris Software Labs
Singtel Optus
TCS
T-Systems
Virtusa
Wipro
Xerox
Accenture
Aditya Birla Minacs
Allscripts
Aon Hewitt
Atos
Capgemini
Capita Group
CGI
Communisis
CSG
CSC
Fidelity
Genpact
HCL
Infosys
StarTek
TCS
Wipro
WNS
Xchanging
Xerox
ITO 2013 YTD BPO 2013 YTD

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Americas 3Q ACV of $1.8B was down 7% Y/Y but up 65% Q/Q; At 139, the number
of 3Q13 contract awards increased significantly, up 30% Y/Y and 107% Q/Q.
Americas Year-to-date ACV ($B)*
Segment Details Like-Quarter ACV ($B)*
Americas Contract Award Trends
YTD Counts
180
274262
245
216
157135145124128
139
107118104
82
72
63485642
-
100
200
300
400
500
201312111009080706052004
1H Counts 3Q Counts
$1.1
$0.7
$1.1
$0.7
$0.0
$0.5
$1.0
$1.5
New Scope Restructuring ITO BPO
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs
3Q12 3Q13
$3.1
$4.8
$3.8
$5.8
$4.3
$3.0$3.1
$4.6
$3.7
$4.4
$1.8
$1.9
$2.0
$2.0
$1.9
$1.2$1.0
$1.1
$1.9$1.2
201312111009080706052004
$0
$2
$4
$6
$8
$10
1H ACV 3Q ACV

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Most of the sub-regions had 3Q ACV up Q/Q but down Y/Y. YTD, Manufacturing
accounted for over 75% of the Americas decline.
Americas Contract Award Trends Detail
$0.10
$0.00
$0.03
$0.01
$0.00
$0.05
$0.10
$0.15
$0.20
$0.25
$0.30
$0.35
$0.40
$0.45
$0.50
Canada Mexico Brazil Other
LatAm
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs 3Q12 3Q13
Americas Sub-regions 5 Prior Like-Quarter ACV ($B)*
$1.10
$0.97
$0.95
$0.63
$0.40
$0.33
$0.28
$0.27
$0.0 $1.0 $2.0 $3.0
Financial Services
Telecom & Media
Manufacturing
Healthcare & Pharma
Energy
Retail
Business Services
Travel, Transport,
Leisure
YTD 3Q12 YTD 3Q13
Americas Industries
YTD ACV ($B)*
$1.63
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
$1.8
$2.0
U.S.

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EMEA 3Q ACV of $3.5B was up 16% Y/Y and 88% Q/Q. The strongest 3Q ACV ever
was driven by nine Mega-relationships and very high contracting activity.
EMEA Year-to-date ACV ($B)*
Segment Details Like-Quarter ACV ($B)*
EMEA Contract Award Trends
YTD Counts
245252272
204201
171
125113115128
176
111124
10294
94
63664544
-
100
200
300
400
500
201312111009080706052004
1H Counts 3Q Counts
$1.8 $1.7
$2.9
$0.6
$0
$1
$2
$3
$4
New Scope Restructuring ITO BPO
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs
3Q12 3Q13
$4.3$5.1$5.0$5.6
$4.1
$5.9
$3.3$2.9
$4.1
$2.9
$3.5
$3.1$3.2$2.0
$1.6
$2.0
$1.5
$1.3
$1.3
$2.1
201312111009080706052004
$0
$2
$4
$6
$8
$10
1H ACV 3Q ACV

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DACH, France and Southern Europe had strong quarters, up Y/Y and Q/Q. YTD,
Transportation was up 88%, while weakness persisted in Financial Services and
Manufacturing.
EMEA Contract Award Trends Detail
EMEA Sub-regions 5 Prior Like-Quarter ACV ($B)*
$2.3
$1.6
$1.2
$1.2
$0.6
$0.5
$0.2
$0.2
$0 $1 $2 $3
Financial Services
Manufacturing
Travel, Transport,
Leisure
Energy
Telecom & Media
Business Services
Healthcare & Pharma
Retail
YTD 3Q12 YTD 3Q13
EMEA Industries YTD ACV ($B)*
$0.84
$0.38
$1.02
$0.21 $0.21
$0.31
$0.55
$0.04
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
$1.2
$1.4
$1.6
U.K. &
Ireland
Nordics DACH Africa &
Middle
East
France Benelux Southern
Europe
E. Europe
& Russia
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs 3Q12 3Q13

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$0.9
$2.0
$1.0
$0.7
$1.3
$0.7
$1.2
$1.0
$0.4
$1.1
$0.5
$0.8
$0.5
$0.4
$0.6
$0.6
$0.4$0.2
$0.3
$0.4
201312111009080706052004
$-
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
1H ACV 3Q ACV
Asia Pacific 3Q ACV of $0.5B was down 41% Y/Y and 13% Q/Q. Quarterly regional
performance lacked significant large deal activity.
Asia Pacific Year-to-date ACV ($B)*
Segment Details Like-Quarter ACV ($B)*
Asia Pacific Contract Award Trends
YTD Counts
60
7570
56
55
363937
23
41
3837
31
2232
2523
15
14
10
-
20
40
60
80
100
120
201312111009080706052004
1H Counts 3Q Counts
$0.24 $0.21
$0.44
$0.01$0.0
$0.2
$0.4
$0.6
$0.8
New Scope Restructuring ITO BPO
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs
3Q12 3Q13

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India was down Y/Y due to difficult comparisons in 2012 when several large deals
were awarded. The YTD regional performance was affected by slowing in the
Financial Services, Manufacturing and Telecom sectors.
Asia Pacific Contract Award Trends Detail
$0.25
$0.06
$0.07
$0.05
$0.02 $0.01
$0.0
$0.1
$0.1
$0.2
$0.2
$0.3
$0.3
$0.4
$0.4
$0.5
ANZ Greater
China
ASEAN India and
South Asia
Japan South Korea
Prior 5 Like-Qtr Range Avg of 5 Prior Like-Qtrs 3Q12 3Q13
Asia Pacific Sub-regions 5 Prior Like-Quarter ACV ($B)*
$0.40
$0.25
$0.19
$0.19
$0.16
$0.15
$0.06
$0.02
$0.0 $0.4 $0.8 $1.2
Financial Services
Travel, Transport,
Leisure
Energy
Manufacturing
Telecom & Media
Healthcare & Pharma
Business Services
Retail
YTD 3Q12 YTD 3Q13
Asia Pacific Industries
YTD ACV ($B)*

16. Special Topic for Third Quarter 2013
John Keppel
Partner & President

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Since 2011, Public Sector ACV has outpaced Commercial Sector ACV by almost 30%.
Public Sector Sourcing, a Large and Growing Market
$6.6
$2.7
$7.2 $7.0 $7.4
$7.9 $7.9
$5.6
$5.1
$9.7
$9.2
1Q
2011
2Q 3Q 4Q 1Q
2012
2Q 3Q 4Q 1Q
2013
2Q 3Q
2013
Commercial Sector ACV $B
Public Sector ACV $B
Public Sector Sourcing
Outpaces Commercial Sourcing*
56%
Public Sector Share of
Outsourcing Market*
ACV from 2011 until today
$135 billion

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Regional Public Sector Markets Defined
The U.K. and U.S. Federal Public Sectors hold ACV market shares that far outpace
their GDP share. U.S. and European-based providers tend to be market leaders
regardless of geography.
53%
5% 3%
26%
6% 5%
Europe
Accenture
BT
Capgemini
Indra Sistemas
T-Systems
U.K.
Atos
BT
Capgemini
Capita
Serco
ANZ
Accenture
CSC
Fujitsu
IBM
Telstra
U.S. State/Local
Accenture
CGI
HP
MAXIMUS
Xerox
Canada
Bell Canada
HP
IBM
Lockheed Martin
SNC-Lavalin
U.S. Federal
CSC
General Dynamics
Lockheed Martin
Northrop Grumman
SIAC
*Other Regions = 2%
Percentage Share of Public Sector Market by Major Region*
Top 5 Providers by Geographic Segment Listed
Note: Service providers in alphabetical order; no rankings implied. Placements based on
the number of public sector contracts awards sourced from ISG Contracts Knowledgebase ®.

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Unique Aspects of Public Sector Contracting
As with the commercial sector, the public sector primary sourcing objectives are cost
savings and operational efficiency. However, there are notable differences in how
they get there.
Public Sector Core Contracting
Attributes
 Maximizing service delivery reach trumps shareholder
value in scope decisions
 Geographic scope is local, not global
 Service integration and management emphasized, as
provider consortium bids are more prevalent
 Procurement constraints on contracting attributes like size,
duration and renewal processes
 Reluctance to offshore outsourced solutions due to a
perception that jobs may be ‘exported’ from the local area

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 Record-breaking 3Q ACV performance with impressive contracting activity
levels across the globe
 Market fueled increasingly by smaller deals, yet 3Q activity included 10
Mega-relationships
 ITO contracting activity vigorous across all industries
 BPO ACV in a lull, but activity levels remain strong, with performance
shifting away from central processes and into industry-specific verticals
 EMEA turned in a great performance particularly in Restructurings, with
solid New Scope results as well
 Americas ACV slowed, but contract activity picked up
 Asia Pacific continues to struggle to return to more recent higher
contracting levels, although 2012’s high was an outlier
 Robust contracting activity in 3Q13 should continue through 4Q
 ACV and contract volume to surpass Q4 2012 results
 First half weakness remains a drag on annual ACV, so expect the year to
finish strong but end down, somewhere in the range of 12-15% lower than
full year 2012
3Q13 ISG Outsourcing Index Summary and Outlook
summary
market
outlook
market

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Please contact us with your questions and comments.
Learn More
--- Media Contacts ---
► John Keppel
Partner and President, ISG
+44 (0)7879 432 212
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Director, ISG
+1 617 558 3377
alex.kozlov@isg-one.com
blog.isg-one.com
► Jim Baptiste
Matter Communications for ISG
+1 978 518 4527
jbaptiste@matternow.com

22. Third Quarter 2013

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The ISG Outsourcing Index has moved to ACV as the primary measure of the
Broader Market. In transition, we will continue to provide a high-level TCV view of
the market via a Scorecard analysis.
3Q13 TCV Scorecard
*Contracts with TCV ≥ $25M from the ISG Contracts Knowledgebase®
Scorecard
3Q13 3Q Y/Y 3Q Q/Q YTD YTD
TCV ($B)* Change Change ACV ($B)* Change
Global Market $ 24.4 -12% 35% $ 63.4 -20%
New Scope $ 14.7 -20% 6% $ 39.3 -28%
Restructurings $ 9.7 6% 134% $ 24.1 -3%
Mega-deals $ 4.1 -29% 42% $ 12.0 -12%
ITO $ 18.3 2% 72% $ 41.3 -19%
BPO $ 6.1 -36% -17% $ 22.1 -22%
Americas $ 6.1 -35% 17% $ 20.4 -33%
EMEA $ 16.3 10% 63% $ 36.2 -84%
Asia Pacific $ 2.0 -40% -28% $ 6.8 -36%

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