We are looking at near shore destinations like Jamaica, Mexico and Costa Rica to service the US market. Also, on the radar are Gautemala and Columbia, HGS global CEO Partha DeSarkar told FE on the sidelines of the ongoing Nasscom BPO Strategy Summit.
The BPO has had some success in Jamaica where it is in talks with one client and the deal could be finalised by December. For the Indian market, however the company plans to follow a different growth model by setting up a partner network.
The partner will help US improve our speed to market. We plan to follow this strategy in the international market also where we are not culturally aligned, he said. For Jamaica, the BPO does not plan to take the partner way.
The BPO has also seen its dependence on the US reducing from 85% a few years back to 60% now, in line with its strategy of diversifying risk and having a balanced portfolio.
In fact, the company, which recently made two acquisitions of Canada-based firm Online Support (OLS) and another company HCCA, a prominent player in human resource outsourcing, is also looking at external funding to manage the dent that the buyouts had on it.
The $75-million refinancing will be in the ratio of 2:1 from debt and equity, respectively and is expected to be done in a month or two. DeSarkar noted that the primary reason for these acquisitions was to enter newer geographies and expects this trend to continue in the future.