EXL
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| EXL Service Holdings, Inc. | |
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| Type | Multinational |
| Founded | 1999 |
| Headquarters | New York, US |
| Key people | Vikram Talwar, Executive Chairman; Noida, India and Rohit Kapoor, President and Chief Executive Officer; New York, US |
| Revenue | $179.9 million (as on 31 Dec. 2007) industry = Business Services |
| Employees | ~10,500+ (Mar. 2008) |
| Website | www.exlservice.com |
EXL Service (NASDAQ: EXLS) is a leading provider of value added offshore Business Process Outsourcing solutions to the Global 1000. EXL offers end-to-end outsourcing solutions. EXL’s BPO services are structured around industry-focused solutions: insurance, banking and financial services. It offers solutions to other sectors with similar needs—utilities, healthcare and media, by leveraging its operational expertise. The cross-industry BPO solutions include finance and accounting services, collections, transaction processing, exception processing, and customer service.
With approximately 10,500 employees, EXL is one of the few companies managing complex transaction processing operations and offering end-to-end solutions. It offers a broad suite of services by integrating its BPO expertise with research and analytics, risk advisory and Six-Sigma consulting services.
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[edit] History
EXL was incorporated in April 1999 in Delaware, USA, by a group of experienced professionals including Vikram Talwar and Rohit Kapoor. Vikram was then the CEO and Managing Director of Ernst & Young, and Rohit managed international investments for clients at Deutsche Bank.
In August 2001, Conseco acquired EXL and operated as its wholly owned subsidiary. Later, in November 2002, Oak Hill Capital Partners L.P. and FTVentures along with some members of the senior management team bought EXL from Conseco making it a third party pure-play business process outsourcing service provider.
EXL's focus on select domains and service offerings, and its rigor of consistent and significant quality improvements has made EXL one of the leading players in the global BPO.
EXL acquired Inductis, a New Jersey based Consulting and Analytics firm in June 2006.
[edit] Locations
EXL is headquartered in New York City. It has offices in New Jersey in the US; London in the UK; Noida, Gurgaon and Pune in India; Manila in the Philippines; and Singapore.
[edit] Risk Advisory Services
EXL is a leading provider of Risk Advisory Service. It offers four services--Risk Advisory, Accounting and Financial Reporting, Technology Risk Services, and Process Mapping Services:
1) Risk Advisory
Good corporate governance and ethical business practices are no longer an optional virtue. Good governance is mandatory to ensure that compliance is not just aligned with business objectives and risk management strategies, but is also adding genuine value to the organization. EXL's Risk Advisory professionals partner with companies to assess and improve their internal audit processes, risk management functions, and ensure full regulatory compliance.
Regulatory Compliance Assistance
The corporate failures of the past decade prompted regulators worldwide to enact legislations to restore investor confidence and improve the governance and control environments of public registrants. These provisions require the registrants to evaluate the effectiveness of internal controls under the direction of the CEO and CFO. EXL Risk Advisory provides assistance to companies in complying with the following legislations:
* Sarbanes Oxley Act, 2002 (US)
* Multilateral Instrument 52-109 (Canada)
* European Union’s 8th Directive (Europe)
* Recommendation 7.2 (Australia)
* Clause 49 (India)
Internal Audit
2) Accounting & Financial Reporting
Worldwide, publicly traded companies, have been forced to significantly enhance their focus on financial reporting owing to the market demand for transparency and an evolving regulatory environment. The financial reporting process has eventually become complex due to the ever evolving and possibly converging International Accounting Standards under US GAAP and International Financial Reporting Standards (IFRS). New requirements for management representations and documentation of tax internal controls have added to this complexity. EXL offers the following services to help companies with their financial reporting requirements.
Accounting
* GAAP and bookkeeping assistance
* Account reconciliations
* Assessment of impact of new regulations or standards
* Asset and inventory management services
Financial Reporting
* Quarterly (10Q) and
* Annual (10K) financial report preparation assistance
3) Technology Risk Services
EXL has a dedicated core team of highly qualified and experienced technology professionals with expertise in risk assessment and risk mitigation. Several global organizations in North America and Europe have benefited from our services in improving the efficiency and effectiveness of their IT processes. Our services include the following:
IT governance and security reviews
* US (GLBA, HIPAA)
* EU (Data Privacy)
* COBIT
* BS7799 and ISO17799
4) Process Mapping Services
Organizations need to continuously strive to improve the efficiency and effectiveness of their processes in order to remain competitive in today's market place. Failure to do so may not only have an adverse impact on business efficiency, but also expose the organization to a high degree of operational and credibility risks. EXL helps companies to create a maintainable baseline of workflow documentation that is usable, understandable and flexible over time. Various companies have engaged EXL to meet their documentation challenges stemming from the following requirements:
* Process improvement, re-engineering and benchmarking studies
* Compliance with regulatory framework e.g. Sarbanes-Oxley, Office of Thrift Supervision (OTS) regulations, Health Insurance Portability and Accountability Act (HIPAA) etc.
* Standardization of processes across multiple locations (including, creating and maintaining, a baseline workflow documentation)
* Business process outsourcing
* Training and knowledge management
EXL has a team of process experts and technical writers that provides innovative and cost effective documentation solutions to ensure immediate value to its clients. Process mapping services include the following:
Documentation Of Policies And Procedures
* Process mapping
* Specialized content development
* Accounting policies and procedures
* ISO documentation and certification assistance
Training Solutions
* Develop training manuals and contents
