Small town BPO, Firstsource, wants more business from India
By Our Corporate Bureau | 28 Sep 2007
It's a top BPO company, but Firstsource Solutions, which operates out of a number of Tier II cities, is targeting a 10 per cent increase in its turnover this fiscal from domestic business, and is keen to set up more centres in Tier II towns.
Firstsource is among very few BPO companies that has taken the plunge and moved away from metros to tier II towns. Started off from offices in Mumbai, Bangalore, Chennai and Kolkata, it has moved to set up its recent operations in Thiruchirapalli, Vijayawada, Kochi, Puducherry, Hubli and Indore.
Firstsource has offices in 25 countries, including 10 offices in the US. It has plans to set up operations in Europe too. The company's total turnover last year was Rs 840 crore, ($212 million), of which just two per cent was from Indian operations.
It expects that this fiscal, in-country business will touch 10 per cent. In the first quarter of this year, the turnover touched Rs 282 crore ($71 million), a 75 per cent increase over the same period the previous year.
The growth drivers for the company's domestic business stem from a huge opportunity in Banking, Financial Services and Insurance (BFSI), and Telecom. Rupee appreciation has had a marginal impact on the business. But, from a strategic point of view, the company does not want to depend on the US market alone.
The company's Kochi operations, for example, began six months ago. The Kochi office employs 515 persons with a starting salary of Rs 5,000. Firstsource provides a leading telecom operator with customer services and value-added customer services support from Kochi.