Wns Holdings Company Profile & Swot

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1 ------------------------------------------- Key Details Company Name: WNS (Holdings) Limit Corporate Headquarters: Gate No. 4, G Sales Revenue (2011): USD 616.25Milli 1-Year Sales Growth: 5.80% Net Income (2011): $9.82M Total Assets: $528.42M No. of Employees (2011): Above 21,00 Established: 1996 Quote Symbol Exchange: WNS [New Yo Primary SIC Code: 7389 - Business Serv Industry: Business services Company website: http://www.wns.co Phone: 91 22 4095 2100 / 91 22 67976 Created b --------------------------------------------------------------- ted Godrej & Boyce Complex, Pirojshanagar, Vikhroli (West), ion 00 ork Stock Exchange] vices om 6100 y Abhishek Chikhalkar ----------------------- Mumbai - 400 079

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Transcript of Wns Holdings Company Profile & Swot

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Key Details

Company Name: WNS (Holdings) LimitedCorporate Headquarters: Gate No. 4, Godrej &Sales 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

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WNS (Holdings) LimitedGate No. 4, Godrej & Boyce Complex, Pirojshanagar, Vikhroli (West), Mumbai

USD 616.25Million

Above 21,000

WNS [New York Stock Exchange]Business Services

http://www.wns.com91 22 67976100

Created by Abhishek Chikhalkar

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Boyce Complex, Pirojshanagar, Vikhroli (West), Mumbai - 400 079

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Table of Content

1. 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

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Company Overview

About WNSWNS is a leading global business process outsourcing (BPO) company. It is engaged in providing services to travel, banking, financial services, insurance, industrial and infrastructure, and emerging services businesses worldwide. The company is involved in providing data, voice, and analytical services to its clients across the globe. It is also involved in the execution of clients’ business processes, monitoring the processes against multiple performance metrics, and continuously improving business processes.

Global Presence WNS 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 UAE

ClienteleWNS serves a diverse client base with over 220 clients across various industries. The company markets its offerings 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

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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 company's 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 world's 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 company's 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.

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Family TreeOther Locations

Subsidiaries

WNS Global Services (North America)420 Lexington AvenueSuite 2515 10170United StatesTel: +1 212 5996960Fax: +1 212 5996962

WNS Global Services (Romania)Westgate Unit H1197 Luliu Maniu Street, Sector 6Bucharest 061125 BucharestRomaniaTel: +40 372 3030000Fax: +40 372 3030001

WNS UKThe Lodge, Harmondsworth LaneWest Drayton Middlesex, UB7 0ABUnited KingdomTel: +44 208 7548289Fax: +44 208 7548570

WNS Global Services Netherlands Cooperative U.A.Netherlands

WNS North America, Inc.DEUnited States

WNS Global Services (UK) Limited United Kingdom

WNS (Mauritius) LimitedMauritius

WNS Philippines Inc. Philippines

WNS Mortgage Services Private LimitedGate No. 4, Godrej & Boyce Complex Pirojshanagar Mumbai, Maharashtra400 079, IndiaTel: +91 22 40952100

WNS Customer Solutions (Singapore) Private LimitedSingapore

WNS Customer Solutions (Private) LimitedSri Lanka

Baizan International Software Technology (Beijing) Co. Ltd. China

Marketics, Inc.DEUnited States

Hi-Tech Off shoring Services Private LimitedIndia

Call 24-7 LimitedUnited Kingdom

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Products & Services

WNS 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 services

These services, WNS bifurcated into two section i.e. Industry Focused Solutions and Cross Industry Solutions.

Industry Focused Solutions (BPO Solutions)

Banking and Financial Services Banking Operations Outsourcing Lending Outsourcing Services Asset Management and Brokerage

Outsourcing

Communication Industry Customer Acquisition Operations and CRM Sales and Contracts Administration Order Provisioning and Order Management

Healthcare Industry DME Manufacturers Payers and Third Party

Administrators Providers

Insurance Industry Property and Casualty Life, Pensions and Annuities

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 Supply Chain Management Logistics Sales, Marketing and Customer

Care

Travel and Leisure Industry Sales and Customer Care Operations Platform Based Service Offerings

Utilities and Energy Industry Sales Management Meter Operations and Billing Customer Service Management Customer Financial Management Supply Chain and Distribution Management

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Cross Industry SolutionsLegal Services

Property Law Personal Injury Claims Law Firm Back Office Corporate Legal Support

Customer Care Outsourcing Services Channels (Voice, White Mails, Chat,

email) Languages

Finance and Accounting Outsourcing Procure to Pay Record to Report Supply Chain Finance Industry-Specific Accounting Order to Cash

Procurement Outsourcing Supplier Research and Analysis Sourcing Support and Administration Contract Management Market Intelligence Competitive Intelligence Procurement Analytics Performance Reporting

Research and Analytics Outsourcing Business and Financial Research Market Research Domain Based Analytics Data Services: Business Intelligence

and Reporting Business Services

Transformation Solutions Consulting and Program Management

Services Process and Quality Services Technology Services

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Key People & Employees statistics

As per LinkedIn, Before WNS Global services, Employees worked at Process services and Wipro BPO. Cognizant, Capgemini, Tata Consultancy Services, Evalueserve, Intelenet Global services

Note - Employee statistics are based on 5,345 LinkedIn users at this company. For employees, 47% of users are in General & Administrative function and 54% of users of same function in Peer companies of WNS.

Eric 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

Ambreesh Mahajan Business Unit Leader, Utilities and Head, International Delivery Locations Anup 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 Services

Created by Abhishek Chikhalkar

Key People & Employees statistics

As per LinkedIn, Before WNS Global services, Employees worked at Genpact LLC, EXL Services, IBM Global Wipro BPO. After WNS Global services, most of the WNS employees went to

Cognizant, Capgemini, Tata Consultancy Services, Evalueserve, Intelenet Global services and

Employee statistics are based on 5,345 LinkedIn users at this company. For example, Out of 5,345 WNS employees, 47% of users are in General & Administrative function and 54% of users of same function in Peer

Chairman WNS GroupCEO WNS GroupCFO WNS GroupChief People Officer WNS GroupHead, Global TransformationPracticeGlobal Head, Sales and MarketingHead of Sales, Asia Pacific and Middle East regionChief of Staff and Head-Americas

Business Unit Leader, Utilities and Head, International Delivery Locations Business Unit Leader, Banking and Financial ServicesBusiness Unit Leader, Research and Analytics ServicesBusiness Unit Leader, Shipping and Logistics ServicesBU Leader Manufacturing, Telecom, Retail and Consumer Packaged Goods,Diversified BusinessesBusiness Unit Leader, Contact Center OperationsChief Executive Officer, WNS AssistanceBusiness Unit Leader, Insurance ServicesBusiness Unit Leader, Travel and Leisure ServicesBusiness Unit Leader, India Business and Strategic InitiativesBusiness Unit Leader, Finance and Accounting Services

Corporate Management Team

Business Unit Management Team

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Genpact LLC, EXL Services, IBM Global WNS Global services, most of the WNS employees went to Accenture,

and Infosys.

example, Out of 5,345 WNS employees, 47% of users are in General & Administrative function and 54% of users of same function in Peer

BU Leader Manufacturing, Telecom, Retail and Consumer Packaged Goods,Diversified Businesses

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Company Analysis

Business Segments

The business of the company is operated through two segments, nameAuto Claims BPO segment. For the fiscal year ended March 2011, the revenue generated from WNS Global BPO segment amounted to $332.647m, a decrease of 2.59% over 2010. The segment accounted for the company's total revenue in 2011. Whereas, the WNS Auto Claims BPO segment generated revenue of $284.429m, an increase of 17.51% over 2010. The segment accounted in 2011.

Region-wise

Geographically, 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 the company’s total revenue, followed of the company's total revenues.

Created by Abhishek Chikhalkar

Company Analysis

The business of the company is operated through two segments, namely, WNS Global BPOsegment. For the fiscal year ended March 2011, the revenue generated from WNS Global

BPO segment amounted to $332.647m, a decrease of 2.59% over 2010. The segment accounted for l revenue in 2011. Whereas, the WNS Auto Claims BPO segment generated revenue of

$284.429m, an increase of 17.51% over 2010. The segment accounted 46.20% of the company's total revenue

Geographically, 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 the company’s total revenue, followed by North America (22.2%), Europe (15.9%), and Rest of the World

Created by Abhishek Chikhalkar

WNS Global BPO segment and WNSsegment. For the fiscal year ended March 2011, the revenue generated from WNS Global

BPO segment amounted to $332.647m, a decrease of 2.59% over 2010. The segment accounted for 53.80% of l revenue in 2011. Whereas, the WNS Auto Claims BPO segment generated revenue of

of the company's total revenue

Geographically, the company operates its business in four regions, namely, the UK, Europe (excluding the UK), , the UK region reported 60.9% of

), and Rest of the World (1%)

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Industry & their Services In 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 the fiscal year ended March 2011, Company’s Insurance business contributed the company; followed by travel and leis Diversified businesses (8.9%), banking and financial Services (4.3%); healthcare (4.2%); utilities (

Created by Abhishek Chikhalkar

In 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,

gistics, and manufacturing, retail, consumer products, telecom and diversified Businesses. Forthe fiscal year ended March 2011, Company’s Insurance business contributed 60.1% of the total revenues of the company; followed by travel and leisure (13.6%), manufacturing, Retail, consumer products, telecom and

, banking and financial Services (4.3%), consulting and professional services ); utilities (3.2%); and Shipping and logistics (1.6%) of the company's total revenues.

Created by Abhishek Chikhalkar

In 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,

gistics, and manufacturing, retail, consumer products, telecom and diversified Businesses. Forof the total revenues of

, manufacturing, Retail, consumer products, telecom and , consulting and professional services

) of the company's total revenues.

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Financial Performance

The company reported revenues of (USD) 5.80% over 2010. The operating profit of the company was $12.05 million during the fiscal year 2011, a decrease of 50.93% from 2010. The net profit of the company was 155.04% over 2010.

Annual revenue & Net Income of last 5 years

Stock & Share details

Traded: New York Stock Exchange: WNSAs of 3rd June,2011Recent PriceHigh PriceLow PriceEPSMarket CapShares Outstanding

Created by Abhishek Chikhalkar

Financial Performance

The company reported revenues of (USD) $616.25 million during the fiscal year ended March 2011, an increase of 5.80% over 2010. The operating profit of the company was $12.05 million during the fiscal year 2011, a decrease of 50.93% from 2010. The net profit of the company was $9.46 million during the fiscal year 2011, an increase of

Annual revenue & Net Income of last 5 years

Traded: New York Stock Exchange: WNSUSD$9.33$11.98$9.30$0.21468.944

Created by Abhishek Chikhalkar

million during the fiscal year ended March 2011, an increase of 5.80% over 2010. The operating profit of the company was $12.05 million during the fiscal year 2011, a decrease of

fiscal year 2011, an increase of

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Competitors

Though WNS believes in delivering High Business Value, deep Domain expertise and Operational excellence, there is a stiff competition in BPO Industry. Some of the Major

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

2011 Annual Sales comparison

WNS (Holdings)Annual Sales $616.25M

Employees 21,958Location India

Created by Abhishek Chikhalkar

Though WNS believes in delivering High Business Value, deep Domain expertise and Operational excellence, there is a stiff competition in BPO Industry. Some of the Major Competitors are:

Tata Consultancy Services Limited

Affiliated Computer Services, Inc.

of Top 3 Competitors

WNS (Holdings) Infosys ExlService Holdings Genpact$616.25M $6,041.00M $252.75M $1,258.96M

130,820 12,700 45,500India USA Bermuda

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Though WNS believes in delivering High Business Value, deep Domain expertise and Operational excellence, there

Genpact$1,258.96M

Bermuda

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Significant Development in 2011

WNS Opens New Center in EuropeOn 23rd 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 WNS's consulting division, revenue recovery group, client partners and general administration for Europe.

Everest Group's Top 5 2010 FAO Market Star PerformersOn 7th April, 2011, WNS was recognized as one of the five star performers in the Finance and Accounting Outsourcing (FAO) services domain in 2010. WNS was identified as a 2010 FAO star performer based on the relative movement on the Everest PEAK Matrix for FAO from 2009 to 2010 of 20+ FAO service providers. WNS was honored to be recognized among the '5 FAO Market Star Performers' by Everest Group, for the second consecutive year.

Star Alliance appoints WNS as Preferred Vendor for Sales Audit and Revenue Protection ServicesOn 15th March, 2011, WNS announced that it has been appointed as a preferred vendor with Star Alliance to perform audit and revenue protection services for its member airlines. Under the agreement, WNS will offer a comprehensive revenue recovery service through state-of-the-art Web-based service called VerifareTM to protect carriers' revenue.

BPO Excellence Awards 2010-11On 15th Feb, 2011 WNS was awarded the distinguished 'Stars of the Industry - BPO Excellence Awards' in two categories ‘Social Change Agent' and 'Use of Technology’ for Operational Excellence. WNS is honored to receive this dual recognition.

WNS Wins the Golden Peacock National Quality Award On 29th Jan, 2011, in Mumbai, The Institute of Directors, a non-profit apex association of company directors committed 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 delivering transformational 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 $157.6 million in the corresponding quarter in the prior fiscal year, and increased by 4.5 percent sequentially from $152.7 million in the fiscal third quarter of 2011.

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SWOT Analysis

Strength Excellent Client base Strong Market presence Wide Service offerings

Weaknesses Over dependence on UK Operations Reliable on Limited Customers Current Financial Health

Opportunities Growth of BPO Industry Recognitions

Threats High Competition 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).

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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 company's 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 company's 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.

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Reliable on Limited Customers

In 2011, the largest client contributed 16.4% of the company's total revenue and 20.4% of its revenue less repair payments.

In 2011, WNS's 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 company's total revenue less repair payments compared to 23.1% in 2010.

The top five clients of the company derived 54.3% of the company's 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 company's 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 company's 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 management's low focus on profitability.

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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 company's BPO offerings, increasing its revenue.

According to the estimates of NASSCOM, the Indian BPO industry has grown at 19% during 2010 to $76billion. 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 toreduce costs, but also to expand their abilities to leverage growth opportunities in emerging markets.

Recognitions

The strong recognitions and honors show the company's 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.

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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.

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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 company's 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.