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WNS Recognized Among Everest Group's Top 5 2010 FAO Market Star Performers
NEW YORK & MUMBAI, India, Apr 07, 2011 (BUSINESS WIRE) -- In a latest report released by the Everest Group, WNS (Holdings) Limited (NYSE:WNS), a leading provider of global Business Process Outsourcing (BPO) services 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. The 'Star Performers' designation relates to Year-on-Year (YoY) performance across multiple assessment parameters, including growth in annual contract value in 2010, new and extended contacts, and advancements in capabilities based on its expansion in scale, scope of service, delivery footprint and technology investments.
"WNS is honored to be recognized among the '5 FAO Market Star Performers' by Everest Group, for the second consecutive year. This re-confirms WNS's position as a globally leading FAO service provider with the right expertise and blend of talent, tools and methodologies to be able to deliver its clients with complex programs, and consolidate operations to achieve upfront financial benefits," said Keshav R. Murugesh, Group CEO, WNS Global Services.
"In a survey commissioned by WNS last year, we found out that post recession, transformation in the FAO domain will play an instrumental role in fulfilling operational and strategic needs of companies across the globe. Hence, our service delivery models have been designed focusing on the specific requirements of CFOs and addressing them with our platform-based BPO solutions," said Tasneem Lakdawalla, Business Unit Head - F&A, WNS Global Services.
"The concept of '2010 FAO Market Star Performers' helps to identify the service providers with maximum YoY advancements across market success and delivery capability. WNS earned the 2010 star performer status as it accounted ~10% of the new multi-process FAO contracts in 2010, and continued to expand its global delivery footprint, process and technology capability, and industry focus for F&A services," said Saurabh Gupta, Vice President, Everest Group.
WNS delivers over 650 processes of finance and accounting services ranging from simple transactions to complex analytical processes, including industry-specific processes to clients across the globe. WNS has 6000+ dedicated employees delivering end-to-end services across the full spectrum of finance and accounting functions, including procure-to-pay, order-to-cash and record-to-report to support all the functions of the CFO's office.
About Everest Group
Everest Group is an advisor to business leaders on global services with a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back-and middle-office business services. With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from internal transformations, shared services, outsourcing and blended model strategies. Established in 1991, Everest Group serves users of global services, providers of services, country organizations and private equity firms, in six continents across all industry categories.
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 www.wns.com
WNS 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 US 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, industry growth potential, expansion opportunities, expectations concerning our future financial performance and growth potential, including our fiscal 2011 guidance and future profitability, our ability to generate free cash, relevant foreign currency exchange rates, and our future operations. 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 the accounting changes and restatement of our financial statements as detailed in our annual report on Form 20-F for the fiscal year ended March 31, 2010 filed with the U.S. Securities and Exchange Commission (SEC), and any adverse developments in existing legal proceedings or the 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), and our master services agreement with Aviva Global Services (Management Services) Private Limited; our ability to successfully consummate strategic acquisitions; and volatility of WNS's 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, 2010 filed with the SEC which is available at 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
WNS Global Services
Tel: +91 (22) 4095 2263
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WNS Global Services
Tel: +1 212 277-8183