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Coforge - Transforming Financial Services with Cloud, SaaS, and BPaaS Services

Vendor Analysis

by Andy Efstathiou

published on Nov 21, 2022

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Report Overview:

This NelsonHall vendor assessment analyzes Coforge's offerings and capabilities in Cloud, SaaS, and BPaaS services for the banking and financial services sector

Who is this Report for:

NelsonHall’s ‘Transforming Financial Services with Cloud, SaaS, and BPaaS Services’ profile on Coforge is a comprehensive assessment of Coforge’s offerings and capabilities for the BFS sector, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of Cloud, SaaS, and BPaaS processes and identifying vendor suitability for Cloud, SaaS, and BPaaS services RFPs
  • Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector.

Scope of this Report:

The report provides a comprehensive and objective analysis of Coforge’s BFS-focused Cloud, SaaS, and BPaaS service offerings, capabilities, and market and financial strength, including:

  • Identification of the company’s strategy, emphasis, and new developments
  • Analysis of the company’s strengths, weaknesses, and outlook
  • Revenue estimates
  • Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
  • Analysis of the company’s offerings and key service components
  • Analysis of the company’s delivery organization including the location of delivery locations.

Key Findings & Highlights:

Coforge delivers consulting, IT, and BPS services. Coforge delivers cloud and infrastructure services to 110 of its 350 total clients across all industries. BFS contributes 31.7% of revenues as of Q2 FY 2023 (the year ending March 31, 2023). The BFS vertical has been growing rapidly for the past several years at Coforge, with a notable 102% y/y growth in FY 2022, due to signing multiple large contracts. In addition, its acquisition of a majority interest in SLK Global Solutions (now named Coforge Business Process Solutions) has enabled it to cross-sell to new clients.

Coforge has built its cloud services business with a focus on BFS sector services providers and clients based in Europe. It positions its cloud services as:

  • Delivering personalized and contextual omnichannel experiences
  • Able to stitch together Fintech solutions using open APIs to enable the overall delivery of processes.

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