Xchanging’s platform-based BPO services well received at NASSCOM India Leadership Forum
17 Feb 2010
Mumbai, India, 17 February 2010 – The 18th edition of NASSCOM India Leadership Forum (NILF) was held in Mumbai, India from February 09-11. Built around the theme ‘New Times, New Ideas, and New Directions’, this event brought together industry experts and global thought leaders who shared insights on the new evolved face of world economy and the next level of growth in the IT and outsourcing services sector.
At the second day of the Forum, Thomas Runge, Global Production Director, Xchanging joined other industry leaders to share views on non-linear business models, innovation in SaaS (software as a service), platform-based services and BPO. Thomas was joined at this panel by Peter Allen, Group President, Managed Services Strategy for CSC and Rajesh Nambiar Vice President and General Manager, Global Delivery for IBM.
Opening the session, Thomas compared the BPO industry with the automobile manufacturing industry, a good example of successful platform based services.
Thomas illustrated the complexities of assembling thousands of components together in a car to leverage the use of platforms by standardizing them. In the banking industry, similarly, 70-80 percent of value creation takes place in-house, leaving large scope for innovation and growth.
Thomas explained the success of standardized platforms in the BPO industry by citing the example of Xchanging’s partnership with Deutsche Bank to create an industry-leading platform for processing securities transactions, called Xchanging Transaction Bank (Xtb). Xtb is a combination of people, processes and technology to provide standardised, efficient processing in a cost-effective manner. It has been adopted as the platform of choice by leading banks such as Citibank and Sparda-Banken.
As the Head of Global Production at Xchanging, Thomas is responsible for driving Xchanging’s standardised production approach across its network of global processing centres. Thomas has over 15 years experience in running highly complex, large scale operations and IT processing centres for companies like Salomon Brothers, Citibank and Deutsche Bank.
Commenting on the panel discussion and the audience interaction, Thomas Runge said, “The business processing industry, though a young one has been responsive to the rapid shifts in the world economy and the consequent changes to customer needs. The industry is today synonymous with innovative thinking and enterprising ideas. It was a rewarding experience to engage in an enriching dialogue with the global BPO community at The Nasscom India Leadership Forum. The optimism is a clear reflection of the growth that the industry expects to see over the next few years.”
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Xchanging is one of the largest and fastest growing business processors. With a wide range of multinational customers in 42 countries and employing over 8,000 people, we are a truly global company. We deliver mission-critical, high volume processing to our customers. Our aim is simply to provide business processing services better, cheaper and faster.
Xchanging provides procurement, accounting, human resources and technology services across industries. We combine this functional processing expertise with deep industry domain knowledge to provide industry-specific processing services across a broad range of industries. These include banking, insurance, manufacturing, retail and real estate among others.
Listed on the London Stock Exchange in 2007, the company is in the FTSE250, the index of mid-capitalised companies traded on the London Stock Exchange. Xchanging is also a member of the FTSE4Good index which measures the performance of companies that meet globally recognised corporate responsibility standards.
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