Offshore Advisory Expert neoIT and CMP's Managing Offshore Announce Results of Annual 'Offshore 100' Round Up of Global Offshore Service Providers
Jan 10, 2005
San Ramon, CA and Manhasset, NY - January 10, 2005 - neoIT, the leading offshore advisory and management firm, and CMP's Managing Offshore, the monthly newsletter for global-sourcing managers, announced today the results of the first annual 'Offshore 100' joint research project to assess BPO (business process outsourcing) and ITO (information technology outsourcing) service providers from around the world.
The 'Offshore 100' project was initiated in September 2004 with surveys issued to global service providers in 13 different countries to assess four primary areas: service provider company information, client data, operational capabilities and human resource policies. Over the ensuing 2 months, neoIT and Managing Offshore collected over 250 different data points from a wide range of service providers located in thirteen countries with strong representation from offshoring destination leaders India, The Philippines, China, Russia, Malaysia and Mexico.
In this first, and only, study created to rank offshore BPO and IT suppliers, Managing Offshore and neoIT sought to identify categories of competencies with a goal of setting supplier benchmarks. At the same time, the goal was to create the first-ever forum to recognize the leading and emerging offshore suppliers. The results of the study will be beneficial to corporate decision makers seeking information about the rapidly expanding, and shifting, range of offshore BPO and IT supplier options.
"The companies represented in the 'Offshore 100' are an impressive group of suppliers, who collectively represent over $90 billion in outsourcing revenue", stated Eugene Kublanov, Vice President of neoIT. "Corporate decision makers are on the lookout for information that helps them structure decision criteria to set up and manage offshore operations. By creating the first ever study to recognize the leading global suppliers, we are identifying performance benchmarks that help both suppliers and buyers to manage their business."
"neoIT and Managing Offshore created the Offshore 100 to identify the most innovative ITO and BPO suppliers," noted Managing Offshore's Editor Rusty Weston. "The Offshore 100 is the first study of its kind that also short lists the leaders in important service-delivery categories such as call centers, infrastructure, and firms that invest in their team development."
Growth among service providers has grown substantially in recent years, with the compounded annual aggregated revenue growth rate (CAGR) among the 'Offshore 100' at 20% between 2003 and 2005 and the median annual revenue at $32 million. Seventy percent of the 'Offshore 100' have established delivery operations in the United States, an important consideration for U.S. customers that want to hold suppliers accountable under American jurisdiction. Banking and Financial Services dominate the revenue mix for the Offshore 100, with Manufacturing, Software/High Technology, Telecommunications and Healthcare ranked at second, third, fourth and fifth places respectively.
BPO and IT Supplier Recognition
The following companies are among the 100 that will be recognized at an awards ceremony that will be held on January 19, 2005 at neoIT's Annual Symposium on Global Sourcing at the Metropolitan Hotel in New York City. Leading suppliers such as Accenture, Infosys, Wipro and GE Capital, EDS and Bearing Point made the list. The study also turned up a number of strong small and medium-sized contenders that are well positioned to succeed given their strong offshore business model. Some of these companies include Bleum, Infinite Computer Systems, Secova eServices, vMoksha Technologies and EPAM Systems.
A copy of the study can be obtained at www.theoffshore100.com or at www.managingoffshore.com (subscription required).
About CMP's Managing Offshore
CMP Media's Managing Offshore (www.managingoffshore.com) is a monthly newsletter for global-sourcing managers. Subscriptions to Managing Offshore include 12 monthly issues plus unlimited access to a library of previous issues, articles in HTML format, and bonus downloads such as exclusive research reports. Managing Offshore also produces the exclusive Managing Offshore Index, an interactive stock listing of 20 of the most influential providers of offshore services.
About neoIT
neoIT is the leading offshore advisory and management firm. neoIT focuses exclusively on assisting companies in maximizing their returns from the offshoring of both information technology and business processes on either a project or enterprise wide basis. neoIT's advice and management throughout the entire offshore lifecycle delivers results in the form of cost savings, improved governance, reductions in sourcing process time and decreased risks with offshore supplier partnerships or own operations. neoIT's clients include leading Global 2000 firms in financial services, insurance, healthcare, telecommunications, utilities, oil and gas, consumer goods, logistics, retail, entertainment, manufacturing and other industry sectors. For more information, visit www.neoIT.com.
The 'Offshore 100' project was initiated in September 2004 with surveys issued to global service providers in 13 different countries to assess four primary areas: service provider company information, client data, operational capabilities and human resource policies. Over the ensuing 2 months, neoIT and Managing Offshore collected over 250 different data points from a wide range of service providers located in thirteen countries with strong representation from offshoring destination leaders India, The Philippines, China, Russia, Malaysia and Mexico.
In this first, and only, study created to rank offshore BPO and IT suppliers, Managing Offshore and neoIT sought to identify categories of competencies with a goal of setting supplier benchmarks. At the same time, the goal was to create the first-ever forum to recognize the leading and emerging offshore suppliers. The results of the study will be beneficial to corporate decision makers seeking information about the rapidly expanding, and shifting, range of offshore BPO and IT supplier options.
"The companies represented in the 'Offshore 100' are an impressive group of suppliers, who collectively represent over $90 billion in outsourcing revenue", stated Eugene Kublanov, Vice President of neoIT. "Corporate decision makers are on the lookout for information that helps them structure decision criteria to set up and manage offshore operations. By creating the first ever study to recognize the leading global suppliers, we are identifying performance benchmarks that help both suppliers and buyers to manage their business."
"neoIT and Managing Offshore created the Offshore 100 to identify the most innovative ITO and BPO suppliers," noted Managing Offshore's Editor Rusty Weston. "The Offshore 100 is the first study of its kind that also short lists the leaders in important service-delivery categories such as call centers, infrastructure, and firms that invest in their team development."
Growth among service providers has grown substantially in recent years, with the compounded annual aggregated revenue growth rate (CAGR) among the 'Offshore 100' at 20% between 2003 and 2005 and the median annual revenue at $32 million. Seventy percent of the 'Offshore 100' have established delivery operations in the United States, an important consideration for U.S. customers that want to hold suppliers accountable under American jurisdiction. Banking and Financial Services dominate the revenue mix for the Offshore 100, with Manufacturing, Software/High Technology, Telecommunications and Healthcare ranked at second, third, fourth and fifth places respectively.
BPO and IT Supplier Recognition
The following companies are among the 100 that will be recognized at an awards ceremony that will be held on January 19, 2005 at neoIT's Annual Symposium on Global Sourcing at the Metropolitan Hotel in New York City. Leading suppliers such as Accenture, Infosys, Wipro and GE Capital, EDS and Bearing Point made the list. The study also turned up a number of strong small and medium-sized contenders that are well positioned to succeed given their strong offshore business model. Some of these companies include Bleum, Infinite Computer Systems, Secova eServices, vMoksha Technologies and EPAM Systems.
A copy of the study can be obtained at www.theoffshore100.com or at www.managingoffshore.com (subscription required).
About CMP's Managing Offshore
CMP Media's Managing Offshore (www.managingoffshore.com) is a monthly newsletter for global-sourcing managers. Subscriptions to Managing Offshore include 12 monthly issues plus unlimited access to a library of previous issues, articles in HTML format, and bonus downloads such as exclusive research reports. Managing Offshore also produces the exclusive Managing Offshore Index, an interactive stock listing of 20 of the most influential providers of offshore services.
About neoIT
neoIT is the leading offshore advisory and management firm. neoIT focuses exclusively on assisting companies in maximizing their returns from the offshoring of both information technology and business processes on either a project or enterprise wide basis. neoIT's advice and management throughout the entire offshore lifecycle delivers results in the form of cost savings, improved governance, reductions in sourcing process time and decreased risks with offshore supplier partnerships or own operations. neoIT's clients include leading Global 2000 firms in financial services, insurance, healthcare, telecommunications, utilities, oil and gas, consumer goods, logistics, retail, entertainment, manufacturing and other industry sectors. For more information, visit www.neoIT.com.