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Few Indian companies have struck such a nice balance between skill and scale
while growing inorganically. While each of its acquisition has added new skills
(analytics, collections, healthcare receivables) for Firstsource, in most cases
they have been of a significant size, unlike most Indian IT and BPO companies.
Where Firstource scores is not only in carefully choosing the targets, but
integrating the acquired company to derive a business value that is more than
just the incremental revenue.
The latest, MedAssist, a leading provider of revenue cycle management in the
healthcare industry in the US, which it acquired for $330 mn, is a case in
point. It has given Firstsource access to the lucrative medical receivables
management space and has added some 800 hospitals in its kitty. In fact, growing
its healthcare revenue 392% has more than compensated for the slowdown in the
financial services segment, where revenue dropped by 17%. The big negative
impact was on the credit card collections in the US that account for nearly 10%
of the overall revenue.
Firstsource continued to grow its telecom business, with a few major wins in
Europe, like Vodafone. To counter the slide in the US, Firstsource is looking at
opportunities in other geographies like Europe and Asia Pacific. And the
domestic markets. It has already been working with Airtel, Vodafone, and ICICI
on a few big projects.
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RANK 6 |
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| Ananda Mukerji, CEO |
Raju Venkatraman,
COO
Farid L Kazani, CFO
Santanu Nandi, Head, Delivery
Aashu Calapa, Head, HR
Chandeep Singh, Head, Quality
Harshit Baxi, Head, Compliance
Sanjiv Dalal, CTO |
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HIGHLIGHTS |
n
Firmed up the healthcare practice with the
acquisition of MedAssist
n
Started operations in smaller towns
like Indore; while Jalandar, Bhubhaneshwar and Siliguri in the offing.
n
Made good traction in the domestic
market with clients like Vodafone, Airtel, and others |
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FACTSHEET |
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l Start-up Year: 2001
l Delivery Presence: Bangalore (2),
Chennai, Pondicherry (3), Mumbai (4), Kolkata, Kochi, Hubli, Trichy (2),
Vijaywada, Delhi, Indore, Argentina (1), US (15), UK (2), Philippines
l Employees: 12,584
l Address: 6th Floor, Peninsula Chambers,
Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013
l Tel: +91-22- 66660888
l Fax:+91-22-66635481
l Website: www.firstsource.com |
Firstsource is also keen to project a truly global presence with its
thirty-six centers across the globe. It is keen to reach out to the customer,
evident from the onshore, offshore ratio of 55:45 respectively. Another
indicator of the companys increasing clout is the kind of complex deals being
undertaken like the $80 mn multiple-year Barclays deal in which Firstsource
will take on board existing employees, center, and assets.
In the coming year, the company expects to grow by a modest 30-35%
considering the turbulence on the macro-economic side. The company is keen on
the health and telecom space, though it hopes that BFSI would make a recovery by
the end of the year. Page(s) 1
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