• Agreement strengthens Hexaware’s position in a multi-vendor scenario and enhances access to various business functions and across the spectrum of multiple service lines;
• Increases the predictability in cash outflow for the client and secures benefits of scale by committing to larger business volumes; thereby, strengthening the ties.
Hexaware Technologies Limited, a leading global provider of IT, BPO and consulting services has announced today that the Company has signed a large deal with revenue estimated at $ 30 million, with an existing Fortune 500 client, headquartered in The United States for a period of 3 years.
Hexaware has been associated with this leading multi-billion corporation for seven years, and this contract further increases its share of wallet with the client. Over the years, Hexaware has evolved to emerge as a key offshore partner for the client. This contract consolidates client IT spend across various business users and multiple technologies. Through this contract, Hexaware will have an estimated $ 5 million worth incremental business over the course of the deal. The revenues from this contract will begin to accrue with immediate effect as it also secures extension for the revenue streams from existing service lines for a 3 year period. An agreement like this gives clients greater predictability over their spend over the course of the deal while giving them greater agility to manage periods of ramp-up and rampdown in line with business dynamics.
As a part of this engagement, Hexaware provides services that cater to multiple business users across different technology platforms. The service lines include: Software Development and Application Services Management (ASM) through Microsoft, Java and Legacy Applications, Enterprise Solutions through PeopleSoft and SAP, Business Intelligence and Analytics (BI / BA), Quality Assurance and Testing Services (QATS), Remote Infrastructure Management Services (IMS) and Business Process Outsourcing (BPO). Having a single order, such as this, gives Hexaware greater predictability on the business volume and the client a greater visibility on their cash outflows and benefits from economies of scale.
“For our strategic clients, we aspire to be the Primary Go-To IT services partner and create value consistently through execution excellence led by superior human capital, rich intellectual property assets and domain intensive customized solutions we offer. In the spirit of true partnership, we govern, manage, and deliver engagements within budgets and timelines augmented by nimbleness and executive relationship management. With customer relationships such as with this client, we are well positioned to deliver healthy revenue growth on a sustainable basis”, remarked, Rajiv Pant, President - North America Operations, Hexaware Technologies Limited.
To provide timely support and to help create value to this client, Hexaware leverages its global delivery model and executes the engagement through a dedicated team of 100+ employees distributed globally across several locations cutting across the client premises in the United States and Hexaware’s own global delivery centers in Mexico and India. Such an agile execution model further enables seamless transition of personnel across business units at the client end. This further enhances Hexaware’s business know-how and the client stands to benefit from Hexaware’s best practices, and knowledge management systems.
Hexaware continues to strengthen its client relationships by deploying dedicated client partners and engagement directors at its key accounts to address the unique requirements of clients, leveraging the Company’s array of service offerings. This strategy has enabled the Top 10 clients at Hexaware to remain a significant growth catalyst contributing to 51% of the company’s revenue in 2012. Driven by this growth engine, Hexaware has delivered yet another year of above industry growth rate during the year gone by. The company reported annual revenue growth in $ terms of 18.3% as compared to NASSCOM announcement of 10.2% Y-o-Y for the same period.
Hexaware (hexaware.com) is a leading global provider of IT & BPO services and consulting. The Company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy,“Your Success is Our Focus”, is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Applications, Quality Assurance and Testing, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification.
Safe Harbor Statement
Certain statements in this press release concerning our future growth prospects are forwardlooking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
Issued on behalf of Hexaware Technologies by:
Madiha Vahid, Adfactors PR Private Limited
T: +91 98190 01881 - E: madiha.vahid[.]adfactorspr.com.