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Firstsource - CMS in Telecommunications

Vendor Analysis

by Vicki Jenkins

published on Apr 21, 2017

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Report Overview:

This NelsonHall vendor assessment analyzes  Firstsource's offerings and capabilities in CMS in Telecommunications. 

Who is this Report for:

NelsonHall’s CMS in telecommunications industry sector profile on Firstsource is a comprehensive assessment of Firstsource’s telecommunications sector customer management services (CMS) offerings and capabilities, designed for: 

  • Sourcing managers monitoring the capabilities of existing suppliers of CMS to serve the telecommunications sector and identifying vendor suitability for CMS 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 Firstsource’s telecommunications 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 CMS telecommunications sector  customer base, including the company’s targeting strategy and examples of current contracts 
  • Analysis of the company’s telecommunications sector CMS offerings and key service components 
  • Analysis of the company’s delivery organization including the geography of delivery locations used for CMS telecommunications sector clients.  

Key Findings & Highlights:

Firstsource Solutions Limited (Firstsource) is a public company headquartered in Mumbai, India, and listed on the Indian National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Firstsource was founded under the name ICICI Infotech Upstream Ltd in 2001, by Indian ICICI bank as a captive. In 2006, the company was rebranded as Firstsource, and the following year was made an IPO. In 2012, the $1.2bn Indian RP-Sanjiv Goenka Group purchased a majority share in Firstsource. Today, through its subsidiary Calcutta Electric Supply Corporation, RP-Sanjiv Goenka owns ~57%, while ICICI bank owns close to 5%.  

Firstsource has ~24.5k employees across 46 delivery centers in five countries. In addition to customer management services and collections, it offers claims processing services and revenue cycle management services to the U.S. healthcare payer and provider sectors.  

Currently, Firstsource supports 15 customer management services (CMS) telecommunications clients. While its heritage is in the financial services industry sector, telecommunications is its second largest industry (by revenue) in CMS. 

Since its beginning, Firstsource has made a number of acquisitions. The acquisition below specifically benefitted its CMS in telecommunications business:   

  • In May 2011: Firstsource entered into a joint venture with Sri Lankan telecommunications provider Dialog Axiata.  

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