Firstsource Solutions Limited is an Indian
business process management
Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business pro ...
company headquartered in
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
. It is owned by
RP-Sanjiv Goenka Group.
Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource hosts operations in India, US, UK, and the Philippines.
The company is listed on the
Bombay
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
(BSE) and
National Stock Exchange of India
National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...
(NSE) since 2007. In 2021 Firstsource generated revenues of INR 50.8 Billion (US$670 million).
History
Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation.
Its name was changed to Firstsource Solutions Limited in 2006. The same year, Firstsource opened a branch office in the Philippines.
In 2007, it became a public company listed on the Indian Stock Exchange.
Acquisitions
In 2002, the company acquired Customer Asset.com with its two subsidiaries and Tawny Dove Ltd. One year later they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. In 2005, they acquired RevIT to expand their services into the healthcare sector.
One year later, in December 2006, they acquired Business Process Management Inc (BPM) with the aim to enhance the company capabilities in the healthcare sector.
In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group.
Public offer
Firstsource made a public offer in February 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on February 22, 2007.
Corporate affairs
Organizational structure
Their 37 global operation centers are located across India, US, UK, and Philippines. The company provides services mostly to clients in United States and the United Kingdom.
Management and leadership structure
Firstsource is managed by a leadership team with 11 members. Vipul Khanna serves as the Managing Director and Chief Executive Officer. The Board of Directors is led by Chairman Sanjiv Goenka.
Group Structure
The RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary.
Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019. As of March 2018, Firstsource had 15 subsidiaries and 1 associate company.
Shareholder structure
Major shareholders in Firstsource include CESC Ventures Limited (53.96%), ICICI Bank Limited (4.85%), Rakesh Jhunjhunwala (3.25%), Steinberg India Emerging Opportunities Fund Limited (1.44%), HDFC Small Cap Fund (5.33%), Mutual Funds (5.65%), foreign institutional investors (9.01%) and the remaining 16.51% is held by the public.
Products and services
Firstsource is a
business process management
Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business pro ...
(BPM) company and offers their services in the Banking and Financial, Healthcare, Communication, Media and Technology and Diverse Industries. Service sectors include Contact and Service Centers, Platform Automation and Analytics and other Business Technology Services.
Awards and recognitions
* 2022:
Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...
Gender Equality Index
See also
*
3i Infotech
3i Infotech Ltd (established as ICICI Infotech Ltd) is an Indian IT company, incorporated in 1993. 3i Infotech was a wholly owned subsidiary of ICICI/ICICI Bank until ICICI divested the majority of the shares in March 2002, at which point the ...
*
Fortune India 500
The ''Fortune India'' 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. ''Fortune India'' is ''Fortune'' sixth internatio ...
*
List of IT consulting firms
The following is a list of the largest notable information technology consulting firms in the world, along with their corporate headquarters location and the total number of consultants they have. Many of these serve primarily as third-party consu ...
References
External links
* {{official
Business process outsourcing companies of India
Companies based in Mumbai
Business services companies established in 2001
Call centre companies
Outsourcing companies
Business process outsourcing companies of the Philippines
Business process outsourcing companies of the United States
Companies of Northern Ireland
Outsourcing in India
Indian companies established in 2001
RPG Group
2001 establishments in Maharashtra
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange
RPSG Group