News : FirstSource Readies New Road Map for Growth
MUMBAI, Oct 24, 2013 -- FirstSource Solutions is looking at hiring external consultants to help define strategy, a year after the business process outsourcing firm was bought by the RP-Sanjiv Goenka Group.
"We are in the midst of actually evaluating our growth strategy. The first thing is how to grow existing customers, how to grow our healthcare solutions with Obamacare taking off, and how to grow our analytics business, whether internally or through acquisitions. Currently this process is internal, but we could look at getting external help as well," Sanjiv Goenka, chairman of FirstSource, told ET. Until the new strategy is in place, FirstSource will continue to focus on cutting costs and enhancing its margin by shedding unprofitable business.
"You can grow your share of the customer's spend, or just grow along as the customer grows, or get an increased spend as the customer outsources more to cut costs. We've seen all three types of growth," FirstSource CEO Rajesh Subramaniam said. He added that the company had started a centre in Sibu, Phillipines and may start a centre in Mexico if its client chooses to be served out of that location.
Posted by Veronica Silva Cusi, news correspondent
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About Firstsource Solutions:
Firstsource employs nearly 27,000 worldwide at 46 centers in the U.S., United Kingdom, India, the Philippines and Sri Lanka, serving more than 100 clients in the banking, insurance, health care, media and telecommunications industries, including 21 companies in the Fortune 500.
Published: Thursday, October 24, 2013