Gartner defines comprehensive finance and accounting (F&A) processes as the outsourcing of three or more finance processes to a single provider. This report analyzes leading providers of F&A business process outsourcing (BPO) that have met the criteria of $40 million or more in F&A BPO revenue (see Figure 1). The market is differentiated by the scale and experience of delivery that F&A BPO vendors have experience with, for example, several providers focus on midsize corporations, or just one industry, or just one country. These characteristics will be important factors to weigh in making the right provider choice.

The F&A BPO market is still relatively immature compared with other types of BPO. That is not to say that it is not a very large market. It was sized at $14 billion at the end of 2008, growing at an 8% compound annual growth rate (CAGR) to $16 billion by 2013, fueled by recessionary and market pressures primarily on Western organizations. But it is an immature market in terms of the characteristics of how these services are bought and delivered. In terms of how it is bought, many organizations aim for a transformational service, when actually the deal is designed more to facilitate moderately modernizing current finance practices while moving them to lower-cost locations. The delivery of the core parts of the service, which typically comprise accounts payable, accounts receivable and general ledger support, include robust offerings, with overall client satisfaction continuing to rise year over year. However, the industry has yet to really universally make explicit what this transformation and/or innovation is actually being delivered, and it would actually mean in practice. In short, the majority of the first wave of F&A BPO deals, or F&A 1.0 have been bought as labor arbitrage or "lift and shift" deals, predominantly priced on a per-full-time equivalent (FTE) basis, or sometimes as a fixed-price deal. In the last couple of years, deals are emerging with a more blended pricing model, which also utilizes elements of FTE and transactional pricing; although no F&A BPO industry standard has emerged as yet, think of these as F&A 2.0. The use of service-level agreements is also evolving, in that in the first few years of a deal, buyers stipulate a large number of service levels, and as a deal matures the number and type of service levels used are starting to be streamlined accordingly. The use of various offshore and nearshore delivery locations has also evolved since last year, with a rise in the use of Latin American and Eastern European delivery centers.

Gartner research shows that 13 providers have made more than $40 million in revenue from comprehensive F&A BPO activities, as of revenue year-end 2008. The major differences between the players, which need to be factored into evaluations of comprehensive F&A BPO suppliers, involve:

• Scale and scope of offerings
• Experience by vertical industry
• Investment in automation tools
• Geographic reach

A prospect can turn to many potential suppliers, including the 13 largest vendors with experience and at least another 20 growing, more-focused or new entrant players that are keen to enter the market. Providers can enter the market through acquiring captive shared-service centers or via ambitiously underpricing deals to win them, which is not considered good practice in the long term. Many prospects, therefore, are evaluating the potential deal economics against the experience level of the suppliers, if it looks too good to be true, it likely is! Gartner research shows that this is not the end of the story; the most-satisfied F&A BPO customers actively participate in F&A BPO service delivery issues. F&A BPO clients have learned that successful service from an F&A BPO provider is directly equated to the continued input and guidance of the client's finance and IT teams.

Sadly, however, many prospective F&A BPO clients have not picked up on these outsourcing lessons because they are typically buying outsourcing for the first time and continue to make the same mistakes. Ensure that you do not fall into the traps such as, holding the belief that "my service provider is all-knowing and can fix everything," or "I will pick the lowest price deal" and then be left wondering where the innovation and transformation is. The most successful F&A BPO clients have carried out a baselining project with the business users of the current state of processing efficiency, and the processing effectiveness of established processes, and did not expect the F&A BPO vendor to solve all the internal process issues, which may never have been addressed internally.

Because F&A BPO is still at a relatively early stage of its evolution, and still yet to grow into a fully fledged service, for the short term ensure that the users in your organization have realistic expectations about the limitations and challenges of this type of outsourcing.

Interestingly, there has been almost no re-insourcing or use of build-operate transfer in this BPO market. Gartner does not expect this to change in the next two to three years. During the last few years, several organizations have sold their captive shared services, which were solely dedicated to finance or incorporated F&A; publicly quoted examples include Philips, Unilever, Citigroup and more recently UBS. The clear message from many F&A BPO providers was that they had aspirations to acquire more existing F&A captive shared-service centers because this is a good way to expand revenue, but still relatively few of these have successfully come to market in 2009. Gartner expects that economic pressures will continue to force captives to evaluate selling their operations to providers in 2010.

Interestingly, attrition has declined a little as a major cause for dissatisfaction, partly because the global economic slowdown appears to have made employees a little more cautious about job hopping, and partly as providers have looked to put better practices in place to mitigate attrition, such as working on better career paths, offering opportunities to work in various locations and working closer with clients to find solutions such as workplacements at the client, better transportation solutions and even starting to introduce webcams. The same issue of struggling sometimes to understand words spoken in a non-native language was still a problem, as was the issue of occasionally Indian nationals' cultural style of not actually saying the word "no" when asked for something that they can't deliver without some help — although this was markedly reduced as an issue compared with last year. This year a new issue arose: lack of organizational transparency from the provider about who in the delivery teams should be contacted for problem resolution, without having to escalate it to senior management. Gartner scored providers lower where these delivery concerns were raised. Please don't assume that just because a supplier has a long track record in servicing F&A BPO that you will automatically get experienced delivery staff, often these people are recruited and trained specifically for your account. When evaluating suppliers, consider the importance of your account to the provider and the provider's continued ability to manage succession planning and training plans to mitigate the almost inevitable attrition.

Today, most F&A BPO deals are with clients that want to source F&A administration processes from lower-labor-cost locations and garner better F&A practices. Buyers must look at a provider's quality, vertical market expertise (which is increasingly becoming important as providers learn about specific industries' finance needs, such as payment terms and supplier types), and global delivery models to ensure a full evaluation of the provider's abilities. F&A outsourcing buyers typically engage in delegating the people operating the process to the provider, while overall control of the process and responsibility for the underlying technology typically remains in-house. Buyers must rigorously document process mapping in their F&A BPO deals, and document all the points of handoff with the vendor to establish who is responsible for each component of the process and underlying technology.

Most of the vendors that were interviewed for this study had experienced significant challenges in the first year of service. Most F&A processes have been moderately modernized by providers, for instance, by adding scanning technology or portal views of established databases or better workflow of processes. Many clients have yet to see new tools deployed in their outsourcing arrangements; therefore, do not assume that the new middleware tools are robust and have more than 18 months longevity. Service providers need to make much more investment, and buyers must require much less customization for this market to truly help F&A processes move into the 21st century.

Comprehensive F&A BPO consists of support for multiple business processes in the F&A domain through a single BPO contract. It typically includes three or more subprocesses associated with F&A, from the following categories:

• Accounts payable
• Accounts receivable
• General ledger
• Financial reporting
• Treasury and cash management
• Specialist processes, including: yield management, shareholder accounting and risk analytics

This Magic Quadrant evaluates suppliers on their F&A related outsourcing services only. The criteria for inclusion of service providers for this Magic Quadrant are based on a combination of qualitative and quantitative measures.

A minimum threshold of $40 million — or above — (estimated for fiscal 2008) generated from relevant service provision to show establishment in and commitment to the F&A BPO market.

Must have three comprehensive F&A BPO deals, which support three or more F&A subprocesses, such as accounts payable, financial reporting, accounts receivable, treasury and cash management, specialist processes such as shareholder reporting and yield management.

Overall market interest in and visibility of the provider, determined by serious consideration for selection from public and or private sector clients.

None

None

Gartner analysts evaluate providers on the quality and efficacy of the processes, systems, methods and procedures that enable provider performance to be competitive, efficient and effective, and to positively impact revenue, retention and reputation (see Table 1). Ultimately, providers are judged on their ability and success in capitalizing on their vision. The following ability-to-execute criteria were used to evaluate vendors' positions.

Service: Core services offered by the provider that compete in/serve the defined market. This includes current service capabilities, quality, feature sets, skills and so on, whether offered natively or through partnerships as defined in the market definition and detailed in the subcriteria. Specifically F&A BPO customer references focused on transition management and steady state of service levels of F&A process delivery.

Overall Viability (Business Unit, Financial, Strategy, Organization): Financial viability includes an assessment of the overall organization's financial health, the financial and practical success of the business unit, and the likelihood of the individual business unit to continue investing in the service, offering the service and advancing the state of the art within the organization's portfolio of services.

Sales Execution/Pricing: The service providers' capabilities in all presales activities and the structure that supports them. This includes deal management, pricing and negotiation, presales support and contracting expertise, as shown in number of and scale of contracts awarded.

Market Responsiveness and Track Record: Ability to respond, change direction, be flexible and achieve competitive success as opportunities develop, competitors act, customer needs evolve, and market dynamics change. This criterion also considers the provider's history of responsiveness and length of time servicing the market.

Marketing Execution: The clarity, quality, creativity and efficacy of programs designed to deliver the organization's message to influence the market, promote the brand and business, increase awareness of the products and establish a positive identification with the product/brand and organization in the minds of buyers. This "mind share" can be driven by a combination of publicity, promotional activities, thought leadership, word of mouth and sales activities. Vendors' websites, presentations, service literature and a client survey contributed to evaluating this category.

Customer Experience: Relationships, products and services/programs that enable clients to be successful with comprehensive F&A BPO deals being evaluated. Specifically, this includes the ways customers receive operational F&A BPO service support.

Operations: The ability of the organization to meet its goals and commitments. Factors include the quality of the organizational structure, ability to manage attrition, tools and services capabilities, service methodologies and other factors which help the organization to operate effectively and efficiently on an ongoing basis.

Gartner analysts evaluate technology providers on their ability to convincingly articulate logical statements about current and future market direction, innovation, customer needs and competitive forces, and how well they map to the Gartner position (see Table 2). Ultimately, providers are rated on their understanding of how market forces can be exploited to create opportunity for the provider. The following completeness-of-vision criteria were used to evaluate vendors' positions.

Market Understanding: Ability of the service provider to understand buyers' needs and translate these needs into comprehensive F&A BPO relationships. Vendors that show the highest degree of vision listen and understand buyers' wants and needs, and can shape or enhance those wants with their added vision.

Marketing Strategy: A clear, differentiated set of messages promoting F&A BPO, consistently communicated throughout the organization and externalized through the website, advertising, customer programs and positioning statements.

Sales Strategy: The strategy for selling F&A BPO that uses the appropriate network of capabilities, including marketing, service and communications affiliates that extend the scope and depth of market reach, skills, expertise, technologies, services and the customer base.

Offering (Product) Strategy: A service provider's approach to comprehensive F&A BPO development and delivery that emphasizes depth and breadth of F&A BPO services as they map to current and future requirements of use of technology, global delivery centers catering for multiple languages, and a good balance of transactional and high-end F&A delivery.

Business Model: The soundness and logic of a service provider's underlying business proposition. Business model considerations will also include its interrelation to F&A BPO implementation, innovation in pricing models offered and flexibility of service delivered.

Vertical/Industry Strategy: The service provider's strategy to direct resources, skills and offerings to meet the specific needs of individual market segments, including verticals, which does differ for many reasons, including the balance between types of public and private sector organizations serviced.

Innovation: Direct, related, complementary and synergistic layouts of resources, expertise or capital for investment, consolidation, or defensive or pre-emptive purposes. The service provider's reputation as a "thought leader" and innovator will also be evaluated.

Geographic Strategy: The service provider's strategy to direct resources, skills and offerings to meet the specific needs of geographies outside the "home" or native geography, including F&A BPO service delivery locations, directly or through partners, channels and subsidiaries, as appropriate for those geographies and markets.

Leaders are performing well today, both with a clear vision of market direction and by actively building competencies to sustain their leadership position in the market. The comprehensive F&A BPO players in this quadrant generally share superior market understanding, have a global client base, an extensive network of well-distributed and highly populated global delivery centers catering for multiple languages, a good balance of transactional and high-end F&A delivery and innovative sales offerings.

Challengers execute well today, but they have a yet to capitalize on their vision. For vendors in this quadrant, increased attention to sales and marketing will help improve future alignment to existing clients and new prospects.

Visionaries have a clear vision of market direction and are focused on preparing for that, but they still can improve the scale and scope of service delivery. For the vendor in this quadrant, time and attention to executing the visionary service and delivery plans will help it to capitalize on its visions with new prospects.

Niche players typically concentrate on particular market segments, such as U.K.-based clients, public-sector clients, or midsize organizations and often support only those services that apply to those targeted segments. Among the comprehensive F&A BPO players in this quadrant, strengthening geographic sales and delivery strategy is a bigger consideration than in the past; targeting more vertical markets or more regional markets directly or via partners can therefore designate niche player status, as well as overall viability, innovation and time servicing the market. The relative number of installed base of comprehensive contracts is also a factor. However, all the players in this segment rated very highly for customer experience, and many can be considered to be leaders within their niche market focus.

• Accenture offers a highly scaled, well-balanced service offering covering a good balance of F&A BPO services, from transactional to higher-level finance experience with 9,000 FTEs spread across over 20 global delivery locations and 80 comprehensive F&A BPO deals.
• Vertical-industry expertise is robust in travel and transport, media, utilities, oil and gas, manufacturing.
• Accenture is one of the leaders in signing business-outcome-based deals across a range of service types. Focusing on relationship expertise at the senior level aimed at getting buy-in from critical parts of the clients' organization from Day 1.

• Accenture could do even more to align and share its understanding of best practice finance processing across its consulting and BPO activities.
• Some clients cited that it could have a stronger handoff from sales to operations, and faster implementation of new processes activities in clients.
• Accenture's marketing messaging could be improved to better highlight its industry-specific F&A capabilities and to highlight best practices in F&A maturity.
• Vertical-industry expertise for F&A BPO is less in services and public-sector activities.
• Although Accenture has Latin American delivery operations, they support internal Accenture delivery in the main.

• ACS has collated a broad global delivery footprint, with 4,400 FTEs servicing predominantly transactional F&A services. It has more than 15 comprehensive F&A BPO deals.
• ACS demonstrated an improved ability to communicate its understanding of the market, and marketing strategy, which contributed to placing them in the visionary end of the Leaders category as these strategies have yet to be fully played out in delivery, marketing and sales execution.
• Vertical market expertise is strong for F&A BPO in the automotive, insurance, manufacturing and U.S. national government sectors.
• ACS has made a significant investment in technology and technology partnerships for F&A delivery.

• Given ACS's global delivery footprint, it must continue to focus sales attention to Europe and Asia/Pacific for F&A BPO services.
• Some clients cited that ACS needs to improve transition planning, and provide greater transparency in the delivery organization while continuing to work on attrition management.
• ACS needs to invest in more industry-specific F&A solutions.
• Vertical market expertise for F&A BPO is lacking in communications, energy and utilities, and high tech manufacturing sectors.
• ACS's recent acquisition by Xerox can be viewed as a potential strength for ACS because it will bring, among other things, potential investment dollars and technologies to improve client services. However, it can also be viewed as a potential weakness because it could distract management from client needs.

• Capgemini has an outstanding service offering due to building an innovative approach to transition and service delivery, involving operational expertise very early in the sales cycle.
• Capgemini covers a good balance of comprehensive F&A BPO services, from transactional to higher-level finance experience with 4,700 FTEs spread across 12 global delivery locations, and 20 comprehensive F&A BPO deals.
• Vertical-industry expertise is strongest in manufacturing, consumer packaged goods, retail and finance.

• Capgemini's execution of its marketing strategy needs improving, for example, by explaining its innovative approaches as outlined above and being better able to promote specific industry and process expertise.
• Vertical-industry expertise is less in communications, transportation and public-sector activities.
• Clients cited that Capgemini needs to work on continuing to get consistent excellent standards of delivery from all of its delivery locations, while continuing to educate delivery staff in clients' end to end processes.

• Genpact provides a highly scaled, balanced service offering covering a wide range of comprehensive range of F&A BPO services, from transactional to higher level finance experience with 10,000 FTEs spread across over 20 global delivery locations and over 50 comprehensive F&A BPO deals.
• Vertical-industry expertise is demonstrated in manufacturing, pharmaceutical, automotive, media, publishing and financial service sectors.
• Genpact has focused on building a strong offering focused on continuous improvement, process effectiveness and building a framework to use its experience in various finance process activities.
• Genpact has a strong sales track record in this market.

• Genpact needs to continue to work on understanding customer's key issues earlier in the deal cycle, and work on more clarity in its deal negotiations.
• Vertical-industry expertise is lacking in oil and gas industries and public-sector organizations.
• Some clients cited that Genpact needs to work on better communicating its technological innovation in its services.
• Genpact's marketing strategy and execution skills need to be improved to better target its offerings to clients and prospects.

• Customers rated their experience very highly, citing HCL's service flexibility, and value for money. HCL has 10 customers for its comprehensive F&A BPO service.
• Vertical-industry strengths include banking and finance, retail, property, manufacturing and communications industries.
• Strong transition skills and an ability to proactively manage attrition.
• Service offering covers a comprehensive range of F&A BPO services, from transactional to higher-level finance skills including VAT and tax experts, using 1,500 FTEs.

• Geographic coverage: Today HCL only has F&A BPO delivery operations in the U.S. and India, from which it is supporting some language requirements. For buyers that require scaled services in multiple languages or from nearshore delivery options, this is a concern.
• Vertical-industry expertise for F&A BPO is lacking in the public sector and transportation.
• At around 1,500 FTEs, HCL needs to improve its scale, and invest in broadening the knowledge of delivery to encompass understanding of the end-to-end processes.
• Sales focus needs attention because HCL is relatively unknown in servicing F&A BPO among buyers in the market as well as with indirect channels such as sourcing advisors.

• Geographic and delivery coverage: HP has built up considerable scale, with 9000 FTEs across 20 global delivery centers, to deliver large complex F&A BPO services, characterized by multicountry and multiprocess components.
• The company has built a good balance of services in transactional finance and higher-level finance skills in 16 comprehensive F&A BPO deals.
• Good service delivery, as well as levels of flexibility demonstrated in contracting and customer service.
• Transition services were rated very high by clients, but this needs to be balanced with HP needing a greater sense of urgency about what can be achieved in tight time scales.
• Vertical-industry expertise is especially strong in the consumer packaged goods industries.

• HP must reinvest in technology-based, industry-focused solutions to regain its lead in technology-based F&A BPO solutions.
• Sales and marketing execution need improvements to demonstrate commitment to this offering, given its public statements to focus on infrastructure, and to give greater detail as to what can be delivered while raising its profile in this market generally.
• Some clients cite that HP needs to improve its ability to communicate its management and delivery team's structure to clients.
• HP has limited F&A BPO experience in the public and energy sectors.

• IBM has a good geographically distributed global delivery network, with more than 20 locations for F&A BPO, comprising 8,500 people with 53 comprehensive F&A BPO deals.
• Vertical expertise for F&A BPO is strong in the consumer packaged goods, oil and gas, banking and retail industries. IBM has made new, strong strides into U.K. public-sector F&A BPO delivery.
• IBM has built up utility-style, cloud-related, services as additions to its comprehensive F&A BPO activity, including: an international expenses management service and a payment service.
• IBM's stated goal is to provide clients with savings based on outcome commitments to operational costs and enterprisewide initiatives, such as working capital and improved spending management.

• IBM needs to improve the communication of its ability to contract via transactional and outcome-based pricing models.
• IBM needs to work on clearly communicating its vision and service offerings to the market.
• IBM has less F&A BPO experience in the healthcare and telecommunications sectors.
• IBM must continue to improve its consistency of global delivery across its delivery locations, and increase the bandwidth of new initiatives it can simultaneously support for clients.

• Customer experience is rated high, as was transition methodology, which was driven by good focus on delivery.
• Infosys has a strong sales and marketing strategy which it is executing well; this demonstrates vision of where the market is going.
• Strengths are exhibited in certain vertical markets, including media and entertainment, and more specifically newspapers and manufacturing, especially high-tech and communications fields.
• Since 2004, Infosys has grown to 4,100 FTEs and delivers its capabilities across 13 global delivery centers, servicing 30 languages and 15 comprehensive F&A BPO deals.

• Some clients cited that Infosys needs to work on providing greater transparency in the sales process, and with the final delivery organization structure.
• Accent neutralization and attrition management could be improved.
• Public sector is a vertical-industry gap for Infosys in F&A BPO.
• Infosys must improve its scale of F&A BPO delivery in Latin America.

• Liberata's service offering covers a comprehensive range of F&A BPO services, from transactional to higher-level finance and procurement experience, which have been sold into the U.K. public sector for more than 30 years.
• An in-depth understanding of the U.K. public-sector market, showing a strong understanding of what prospects and clients in this sector want. Liberata is well connected in U.K. public-sector arenas.
• Customer experience: A strong commitment to deliver successfully with flexibility in service support was cited by its clients, as was taking an active approach to building relationships among its 16 comprehensive F&A BPO customers it has for this service.

• Liberata is a niche operator that focuses on the U.K. public sector and commercial organizations that require delivery out of lower-cost locations in the U.K. If you want offshore or nearshore delivery options, then you will not be able to take advantage of Liberata's services.
• Operationally, Liberata has a smaller scale, than other players, of this comprehensive range of services, with approximately 500 FTEs.
• Liberata has very limited experience in the commercial sector.

• Customer experience scores were high for OPI, with clients citing tremendous ongoing support and mentorship skills for finance strategy. This is also a function of OPI being a "pure play" F&A BPO company; that is, it sells only F&A BPO.
• Focus and strength is servicing the midmarket, where it is adding new middle-market tools.
• It has a high proportion of delivering higher-end finance services for which it has successfully developed delivery systems for mass customization and transition.
• OPI has 3,000 FTEs spread across 10 global delivery centers, supplying finance skilled staff in more than 20 languages, although the bulk of delivery is split between India and North America, and 20 comprehensive F&A BPO deals.
• Vertical expertise is stronger for services, banking and financial service, and manufacturing sectors.

• OPI is focused on the midmarket, for which it has delivered services to 70 countries for one client. However, this has not been replicated with many other clients since, so it must continue to work on its ability to scale services.
• OPI has had very limited success in selling and marketing in Europe, with most of its clients based in North America.
• OPI is privately held; its overall viability is challenged by the vulnerability of having a relatively small cadre of senior managers.
• The company lacks vertical-industry experience in public sector, transportation and communications services.

• Public sector, healthcare, communications and media sectors are vertical-industry strengths for Steria in F&A BPO.
• The company offers one of the few business-process-utility-style comprehensive F&A BPO deals in the world, with the U.K. Department of Health Shared Business Service joint venture that has more than 150 clients, using Steria's finance service, based on a shared Oracle platform.
• Delivery was rated high by clients, citing strong transition skills and flexibility; Steria has 2,000 F&A BPO FTEs on its delivery staff.
• Steria has a strong mix of skills across transactional and complex F&A services.
• Good marketing strategy due to clear market communications of its current and desired strategic plans.

• Steria has work to do on executing marketing, sales and delivery strategies successfully to gain exposure and sales transaction in continental Europe.
• Steria's delivery centers are all in the U.K. and India, and it has limited experience of F&A BPO delivery from other locations, such as Eastern Europe, or for organizations with non-English language requirements. This significantly contributed to its niche rating.
• Vertical sectors with less experience include manufacturing and utilities.
• Steria needs to improve its external and internal marketing of F&A BPO execution capabilities. It should build strong communications plans for how new and existing clients should interact with the organization.

• Wipro has built up skills in multicountry and multilanguage delivery, with 5,200 FTEs in 13 delivery centers. This has been driven by its technology vision for processing and sales execution. It has 26 comprehensive F&A BPO deals.
• Clients rated Wipro's transition methodology high, notably as it helped with the overall acceptance of the service by the client's business units.
• Delivery services were also rated high by clients with good transparency and flexibility.
• Wipro has built up good experience for transactional and higher-end F&A services.
• Vertical market strengths for F&A BPO include communications, financial services, retail and breweries.

• Marketing execution is weak for Wipro with very low market visibility of services in this area. It has also been challenged to articulate the benefits of its BASE tool, which it has developed for managing and monitoring F&A delivery services.
• Wipro is relatively new to delivering from a European location, with several new deals in transition, to service client F&A needs in that region.
• Wipro has less F&A BPO experience in the public sector.
• Although Wipro has strong technical capability, clients indicated that it needs to work harder on integrating its BPO and IT delivery units' support.

• Delivery and transition skills were rated high by clients.
• WNS has 6,200 FTEs delivering mostly transactional finance services, but WNS has established a good number of FTEs providing higher-level finance skills. The company has more than 50 comprehensive F&A BPO deals.
• Vertical expertise includes transportation and travel, financial services, consumer packaged goods, media and entertainment industries.
• Recent marketing strategy and execution efforts have been significant; this strategy is leading to fruition with new sales.

• The company lacks continental European clients and scale in nearshore European or North American delivery, yet WNS is building nearshore operations in Romania and Costa Rica.
• WNS predominantly delivers from India and Sri Lanka offshore delivery centers, with few staff delivering F&A BPO services from locations that can support multiple European language requirements and specific F&A needs in that region.
• Some clients cited that more clarity around the delivery organization structure to prospects and clients is needed.
• Vertical industries where WNS has less F&A BPO experience include public sector, healthcare or services sectors.
• Some clients cited WNS has limited in-house IT skills and services.