In a bid to boost its revenues from newer markets, Indian BPO firm Firstsource Solutions is stepping into new geographies like Australia and the Gulf region.
?We are looking at diverse geographies and Australia and the Gulf region look promising,? said a top company official. ?We are bullish on capturing these markets as early as possible as it is important in the current scenario to diversify business,? he added. He said the company has also ramped up one customer in one of the regions and is talking to more prospective customers.
With a downturn in the large, traditional markets of the US and Europe, more outsourcing firms are scouring opportunities in new markets to maintain revenue flow.
Another strategy for Firstsource is to strenghten exposure in the domestic market and to come up with more delivery centers both in the domestic and the international market by the end of this year.
The company?s income from its top clients has gone down over the years. Currently, 37.4% of its business comes from its top five clients, compared to around 65% in 2004. However, according to the company official, this is a deliberate attempt by the company to diversify its business portfolio in terms of its clients. ?
The company has been observing a slowdown in the BFSI sector, and especially the collection business has got affected.
?Due to the US slowdown, we have seen certain amount of slowdown in the BFSI sector, and have seen some BFSI orders getting delayed to the next quarter or so. However, it?s the newer customers from whom the delaying of orders has been coming,? commented the company official. Thus, to balance this, the company has increased its focus on industries such as telecom and healthcare.
The company has plans to invest around Rs 110 crore during the coming year, for both its domestic and international market. The company is also bullish about a 35-38% growth in the coming year.