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A $16-bn loan book is making India's biggest private lender tense

India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of ...
The Economic Times
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| 13 July, 2020, 09:53 AM IST | E-Paper
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    COVID-19 pulls down global sourcing market down by 5% in Q2: ISG Index

    “In line with our prediction last quarter, the managed services market was off 16 percent as enterprises reined in operating expenses in the face of a pandemic-related slowdown in business activity,” said Steve Hall, partner and president of ISG. “As-a-service spending did a bit better than we expected"

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    • Its revenue from operations grew 10.6 per cent to Rs 1,067.2 crore in the reported quarter

      Overall, the company has about 300,000 employees, of whom 75,000 are in India, and is growing revenue at over 8% year-over-year. “We did not have enough scale in India before the acquisition and Intelenet also gave a boost to our digital offerings,” said CEO Daniel Julien, who founded Teleperformance over 40 years ago.

      Voice services have been the hardest to transition to a work-from-home model, as there was little infrastructure available and clients were unwilling to allow private and sensitive data to be accessed outside the protected centres, ET has reported.

      After all, this segment has helped global corporations stay ahead of the curve and keep critical business functions running during various crises. But with Covid-19, the technology and business process management services sector is staring at a washout in travel, hospitality and aviation businesses, though it is expecting higher workflow from healthcare, pharma and insurance segments

      This has been one of the key demands of the IT-BPO industry given the Coronavirus pandemic, and industry association Nasscom has been in talks with the government for over a week to allow employees of units which are operating from the Special Economic Zones (SEZs) to work from home..

      Government services such as tax administration, egovernance, cloud operation, passport services; healthcare and insurance-related processing; support to utilities such as gas, electricity, mobile network, broadband, etc and ecommerce services and support to banking and payment services have been identified as “essential services”.

      A disruption in India's BPO industry, which provides critical customer and technical support to US' health and emergency services, would have a negative impact on FDI, an India-centric US business advocacy group has said.

      BPM companies are caught between mobility curbs and client protocol that disallows work-from-home. Experts are of the view that the Indian BPO industry faces significant challenges in the short and medium term due to the Covid-19 related restrictions. Analysts say companies face challenges in organising thousands of computers and internet connections to employees at short notice, impacting work.

      Duggar is a chartered accountant and has served as Managing Partner at Agnus Capital LLP. He was earlier the CFO of Wipro’s IT, BPO and data centre business. He has held leadership positions at Practo Technologies, inMobi and RPG Enterprises.

      This will enable them to provide services that are cheaper and one that can be dialled-up or down based on demand. Experts say the model is helping clients get better quality talent on projects and helping curb attrition.

      Company will trim its workforce in the ranks of delivery managers, AVPs, VPs and SVPs.

      The report said hiring in hospitality, retail and auto sectors has been the most impacted due to the COVID-19 lockdown and following nation-wide relaxations of lockdown norms, there has been an uptick in recruitment in these sectors. Report said functional roles in education/teaching with 49% growth, pharmaceuticals/biotech (36%) and sales/business development (33%) saw an uptick in hiring.

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