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WNS Positioned as Industry Leader in Magic Quadrant for Comprehensive Finance and Accounting Global BPO
NEW YORK, Jul 19, 2011 (BUSINESS WIRE) -- WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Outsourcing (BPO) services, today announced that it has been positioned by Gartner, Inc., world's leading information technology research and advisory company, in the leaders quadrant of the 2011 "Magic Quadrant for Comprehensive Finance and Accounting (F&A) BPO, Global" report1 based on completeness of vision' and 'ability to execute'.
The Magic Quadrant evaluates a qualified group of 16 vendors in the comprehensive F&A business process outsourcing market and depicts markets using a two-dimensional matrix.
"WNS is honored to be positioned in the Leaders Quadrant by Gartner. We value this recognition and believe that it is an acknowledgement of our investments in new F&A offerings and our commitment to our clients in transforming their finance operations with the right blend of talent, tools and methodologies," said Keshav R. Murugesh, Group CEO, WNS Global Services.
"Pressures to reduce cost, increased regulatory compliance and demand for a closer alignment to the business, have driven the need to implement a new F&A operating model. Leading CFOs leverage FAO outsourcing as a strategy to change their operating models, and choose WNS so that their internal teams can focus on core business issues, while the WNS team delivers to goals of standardizing finance and accounting processes, transforming the finance operations and lowering costs," said Tasneem Lakdawalla, Business Unit Head - F&A, WNS Global Services.
This placement comes close on the heels of a recent recognition for WNS as among the top five '2010 FAO Market Star Performers' by the Everest Group in April 2011. WNS was identified as an FAO star performer for the second consecutive year based on maximum year-on-year advancements across market success and delivery capabilities for FAO from 2009-2010 for over 20 FAO service providers.
As a leader among comprehensive F&A outsourcing service providers, WNS set up its F&A BPO services in 1996, and is one of the fastest growing business units within WNS. The F&A business unit has over 7,000 dedicated employees delivering a full range of 600+ processes that range from simple transactions to complex analytical processes, including industry-specific processes to more than 70 F&A clients, around the world.
1Gartner, Inc. 'Magic Quadrant for Comprehensive Finance and Accounting BPO' by Cathy Tornbohm, 17 December 2009
About the Magic Quadrant
The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process outsourcing company. WNS offers business value to 200+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics and Healthcare and Utilities. WNS delivers an entire spectrum of business process outsourcing services such as finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes. WNS has over 21,000 professionals across 21 delivery centers worldwide including Costa Rica, India, Philippines, Romania, Sri Lanka and United Kingdom. For more information, visit http://www.wns.com
Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, assumptions, estimates and projections about our Company and our industry. The forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Those statements include, among other things, the discussions of our business strategy and expectations concerning our performance. We caution you that reliance on any forward-looking statement involves risks and uncertainties, and that although we believe that the assumptions on which our forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and, as a result, the forward-looking statements based on those assumptions could be materially incorrect. These factors include but are not limited to worldwide economic and business conditions; political or economic instability in the jurisdictions where we have operations; regulatory, legislative and judicial developments; our ability to attract and retain clients; technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; the implications of our recently announced accounting changes and restatement of our financial statements, and any adverse developments in existing legal proceedings or initiation of new legal proceedings; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; increasing competition in the BPO industry; our ability to successfully grow our revenue, expand our service offerings and market share and achieve accretive benefits from our acquisition of Aviva Global Services Singapore Pte. Ltd. (which we have renamed as WNS Customer Solutions (Singapore) Private Limited following our acquisition), our master services agreement with Aviva Global Services (Management Services) Private Limited; our ability to successfully consummate strategic acquisitions; and the volatility of our ADS price. These and other factors are more fully discussed in our annual report on Form 20-F for the fiscal year ended March 31, 2011 filed with the U.S. Securities and Exchange Commission which is available at http://www.sec.gov. In light of these and other uncertainties, you should not conclude that we will necessarily achieve any plans, objectives or projected financial results referred to in any of the forward-looking statements. Except as required by law, we do not undertake to release revisions of any of these forward-looking statements to reflect future events or circumstances.
SOURCE: WNS (Holdings) Limited