Global IT-BPO Outsourcing Deals Analysis 1Q15 Analysis: January to March

Global IT-BPO Outsourcing Deals Analysis 1Q15 Analysis: January to March April 2015

About global IT-BPO outsourcing deals analysis KPMG in India s Shared Services and Outsourcing Advisory (SSOA) practice publishes a quarterly analysis on IT-BPO outsourcing contracts signed across industries and geographies, with a total contract value (TCV) of USD5 million and above per deal. Methodology and limitations of the study: Our analysis and findings presented in this report are based on select third party deals database including, publicly available outsourcing data as identified throughout this presentation. It does not include contract information gathered from KPMG Sourcing Advisory business engagements. The count and value of the deals may vary notably in reality and is only indicative of market movements and trends in the IT-BPO space. Readers are requested to use their discretion while assessing the global IT-BPO market accordingly. For more information on this market research, please get in touch with Shailesh Narwaiye (snarwaiye@kpmg.com). 1

Contents Section 1: Global deals: An overview Section 2: 1Q15 deal analysis Section 3: IT-BPO outsourcing outlook

Section 1 Global deals: An overview

A summary In 1Q15 (January to March), 148 ITO contracts worth USD17.7 billion and nine BPO contracts worth USD1.8 billion were signed, worldwide Globally 35 IT-BPO bundled deals were signed in 1Q15 with contract value worth USD2.2 billion In terms of value, approximately 26 per cent of deals by value originated from the United States, followed by Germany at 23 per cent. India and The Netherlands were two other key outsourcing markets The average deal tenure has consistently been decreasing since 3Q14, with a sharp decrease of twelve months as compared to 4Q14, to 3 years 2 months in 1Q15 Defence continues to be the top consumer of IT-BPO services contributing to 32 per cent in terms of value of outsourcing deals signed in 1Q15. Banking and Financial Services followed next with 24 per cent contribution IT Infrastructure and Transactional Services contributed USD6.5 billion and USD770 million respectively and were the largest procured services globally within ITO and BPO outsourced services, respectively Average annualised contract value in 1Q15 was USD38.5 million as compared to USD27 million in 1Q14 showing an increase of 43 per cent between the two quarters Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database 4

Quarterly deal movements Snapshot Quarterly movements of global IT-BPO deals* Number of Deals 1,590-7% 516 Number of Deals 1,473-22% Number of Deals 1,144 Deal Value 1Q14-14% 1Q15 428 354 292 Total Deal Value USD150.4 billion 36.5 35.3 22.7 55.9-3% 426 422 299 53.3 Total Deal Value USD145.5 billion 43.9 20.3 326-17% 28.0 259 25.2 316 324 Total Deal Value USD120.4 billion 29.1 39.8 245 192 26.4 21.8 No. of deals 1Q14-26% 1Q15 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2012 2013 2014 2015 Value (USD billion) No. of deals *The term deals is interchangeably used with contracts throughout the analysis unless otherwise specified. Deals analysed are global sourcing contracts of size USD5.0 million and above only. Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database 1Q15 witnessed a decrease of 14 per cent in total contract value and total number of deals reduced by 26 per cent as compared to 1Q14, indicating growth in the average deal value. The average contract value continued to increase in 1Q15 with an increase of 5 per cent as compared to 4Q14 and 17 per cent as compared to 1Q14 showing a trend of larger size deals being signed in this quarter. 5

Annualised contract value (ACV) Q-o-Q comparison Annualised* contract value comparison per quarter 43% increase 38.49 1Q15 7,390 6% increase 1Q15 1.04 3 years 2 months 770.0 27.01 1Q14 6,995 1Q14 3 years 10 months 63% increase 1.06 14.31 1211.4 1Q13 4,279 1Q13 4 years 9 months 3,500 4,500 5,500 6,500 7,500 8,500 Total Annualized Contract Value (USD million) 0.88 Minimum annualised contract value 179.3 Maximum annualised contract value * Annualised contract value = ( total value of a contract / tenure in months ) x 12 Contract value for contracts having tenure less than 1 year is considered as annualised value for the analysis. Graph is not to scale and only represents the division across different parameters Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database Note: All values in USD million unless otherwise specified Average annualised contract value (USD million) Average tenure per contract There was an increase of 6 per cent in total annualised contract value in 1Q15 as compared to 1Q14. The average annualised contract value increased by 43 per cent in 1Q15 as against 1Q14, while the average contract tenure decreased to 3 years 2 months from 3 years 10 months. 6

Sector analysis Q-o-Q comparison Sector Trends in deal movement from 1Q14 to 1Q15 Total Contract Value Total Number of Contracts Average Contract Value 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 Automotive & Aerospace 2153% -92% -41% 403% 50% -67% 0% 150% 1402% -76% -41% 101% Banking & Financial Services -5% 141% 77% -7% -7% -24% -37% -8% 3% 218% 181% 2% Defence 195% 219% -72% 45% 213% 132% -56% 27% -6% 37% -36% 14% Energy & Utilities 39% 51% -75% 64% 0% 111% -32% -31% 39% -28% -63% 137% Government 277% 28% -54% -82% 75% -18% -14% -61% 116% 57% -46% -53% Insurance 54% -50% 331% 36% -56% -25% 100% 17% 246% -33% 115% 16% Manufacturing 24% -81% 91% -2% 8% -50% 15% -53% 15% -63% 66% 110% Pharma & Healthcare -30% -90% -93% 2242% -53% -43% -75% 200% 50% -82% -72% 681% Publishing, Media & Entertainment 4222% -73% -96% 786% 350% -67% -67% 100% 860% -18% -88% 343% Retail -53% 35% -25% -48% 67% -50% 40% -71% -72% 170% -47% 82% Telecom -81% 24% 47% -59% -30% -23% 17% -39% -72% 60% 26% -33% Travel & Logistics -79% 18% 263% 4% -56% 25% 40% -14% -53% -5% 160% 22% Others* -58% -70% 956% -43% -5% -24% 13% 22% -56% -61% 838% -53% *Others: Construction, Consumer and Recreational Services, Education, Professional services, Securities and investment services, Social services, Trade unions, Technology, Wholesale Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database Decrease >=25% Decrease <25% No change Increase <25% Increase >=25% Automotive and Aerospace, Defence, Energy and Utilities, Insurance, Pharma and Healthcare and Publishing, Media and Entertainment sectors have exhibited growth greater than 25 per cent in terms of value over 4Q14, while Government, Retail, Telecom, and Others sectors had a decline greater than 25 per cent in total contract value (TCV). Continuous growth in average contract value was observed in Banking and Financial Services since 1Q14 Energy and Utilities, Government, Manufacturing, Retail, and telecom sectors have shown a decrease greater than 25 per cent in number of contracts signed in 1Q15 over 4Q14. 7

Deal analysis Q-o-Q comparison Trends in deal movement from 1Q14 to 1Q15 Deal Type Total Contract Value Total Number of Contracts Average Contract Value 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 1Q14->2Q14 2Q14 -> 3Q14 3Q14->4Q14 4Q14 -> 1Q15 ITO 15% -33% 26% -18% 12% -25% 0% -25% 2% -11% 26% 9% BPO 24% 693% -90% 1% 141% 151% -73% -68% -48% 216% -63% 213% Bundled 21% 285% -39% -24% 44% 85% -17% 75% -16% 109% -27% -56% Less than USD 100 MN 27% 1% -27% -18% 1% 13% -20% -20% 25% -11% -9% 2% Betw een USD 100-500 MN 100% -5% -51% -10% 134% -36% -32% -29% -14% 49% -28% 27% More than USD 500 MN -58% 247% -19% -22% -63% 567% -55% -22% 13% -48% 80% 1% Less than 1-year -40% 108% -54% 61% -24% 35% -37% -5% -21% 54% -27% 68% Betw een 1 to 5-years -27% 39% -46% 6% -5% 15% -15% -16% -24% 21% -36% 26% More than 5-years 270% 32% -19% -38% 285% -29% -46% -58% -4% 86% 52% 48% Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database Decrease >=25% Decrease <25% No change Increase <25% Increase >=25% Total contract value for long tenure deals (more than 5 years) decreased by more than 25 per cent while short tenure deals (less than 1 year) grew by more than 25 per cent in 1Q15 over 4Q14. While the other deal categories witnessed a decrease in number of contracts, Bundled deals increased by more than 25 per cent in 1Q15 as compared to 4Q14. Continuous growth in average contract value was observed for long tenure deals (more than 5 years) since 2Q14. Almost all of the deal value categories have displayed a decrease in both TCV and number of contracts for the past two quarters. 8

Geography analysis IT-BPO deals across geographies: Q-o-Q comparison 887 AMERICAS Geography-wise break-up of deals* 452 EMA 398 649 47.5 39.1 132 716 1,066 99 996 17.5 78 608 562 97.6 5.4 10.6 122 126 64.9 1Q13 2013 1Q14 2014 1Q15 175 15.6 282 253 11.4 101 997.8 157 30 35 13 12.1 5.4 7.1 Q2-2009 2009 2009 Q2-2010 2010 2010 2011 Q2-2011 1Q13 2013 1Q14 2014 1Q15 Total Contract Value (USD billion) * Deals originating from the geography No. of Contracts Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database ASPAC 134 97 8.8 8.0 4.1 25 26 15 2.7 2.3 1Q13 2013 1Q14 2014 1Q15 Unlike past quarters, EMA has emerged as the major outsourcing region replacing AMERICAS. The sudden increase in deals, contributing 48 per cent of the total contract value in 1Q15, is attributed to strong demand from the Banking and Financial Services in the region. AMERICAS displayed weak market activity in 1Q15, with 33 per cent contribution to total contract value, a trend similar to 1Q14. With an increase of 76 per cent in total contract value as compared to 1Q14, ASPAC contributed 19 per cent of the total contract value in 1Q15. 9

Deal Value (USD billion) Sector analysis IT-BPO deals across sectors by value and numbers TCV : USD21.8 billion No. of contracts: 192 Sector-wise break-up of deals (2Q14 to 1Q15) 50 116 65 51 110 90 77 5.7 31 16.9 7.0 12.6 30 28 26 9.8 5.8 25 5.3 24 3.9 5.3 4.8 22 3.6 21 19 19 17 18 3.2 14 15 16 2.7 12 11 12 13 13 2.4 2.4 10 9 11.1 8 9 9 10 2.0 7 7 1.5 1.6 1.6 7 7 1.6 1.3 6 6 4 5 5 1.2 4 3 0.8 0.9 0.9 1.0 1.1 2 2 0.8 1.0 3 3 2 2 1.1 1 0.5 1 0.6 0.4 0.2 0.3 0.2 0.4 0.4 0.4 0.6 0.1 0.1 0.010.2 0.05 0.01 0.1 0.1 0.1 0.1 0.2 Banking Insurance Automotive Travel and Manufacturing Energy and Pharma Publishing, Retail Telecom Others * Defence Government and and Logistics Utilities and Media and Financial Aerospace Healthcare Entertainment Services Q2-2014 Q3-2014 Q4-2014 Q1-2015 * Others: Consumer and recreational services, Construction, Education, Professional services, Securities and investment services, Technology, Wholesale Graph is not to scale and only represents the division across different parameters. Figures may not add up to 100 per cent due to rounding off Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database No. of contracts Defence and Banking and Financial Services lead the deal activity, together contributing to 56 per cent of the total contract value signed in 1Q15. Unlike past quarters, the Government sector witnessed a weak market activity with a sharp drop of 82 per cent in terms of total contract value in 1Q15 against 4Q14. Total contract value for Telecom witnessed a decrease of 59 per cent in 1Q15 as compared to 4Q14. 10

New and renewal* deal analysis Q-o-Q comparison Analysis of new and renewal* deals All deals ITO BPO 3.7 21.8 19.6 19.8 17.6 17.1 17.0 5.1 3.2 3.4 2.2 12.9 4.4 10.1 0.5 2.6 0.7 0.6 1.9 1.9 1.1 1.0 0.8 0.8 Q1 Q1 Q1 Q1 2012 2013 2014 2015 Q1 Q1 Q1 Q1 2012 2013 2014 2015 Q1 Q1 Q1 Q1 2012 2013 2014 2015 * Renewal deals include contracts which have been extended, expanded, extended & expanded and renegotiated Source: IDC (www.idc.com), Contract Database, Apr 2015,KPMG in India Research & Analysis based on the IDC contract database Total contract value (in USD Bn) New Renewal Overall since 2012, there has been a consistent increase in percentage of contribution of new deals in the first quarter of each year. In BPO, there has been a significant decrease in contract renewals, it contributed to 14 per cent of total deals in 1Q12 and increased to more than 40 per cent over the following years. 11

Section 2 1Q15 deal analysis

Deal value Global sourcing snapshot: January to March 2015 IT-BPO deals* signed in 1Q15 (Total contract value: USD21.8 billion) Total contract value USD21.8 billion 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Bundled 2.2 BPO 1.8 ITO 17.7 ASPAC 4.1 EMA 10.6 Americas 7.1 More than USD 500 MN 10.2 Between USD 100-500 MN 7.4 Less than USD 100 MN 4.2 More than 5-years 9.0 Between 1 to 5-years 12.1 Less than 1-year 0.7 0.04 Others 0.4 Time & Material # Hybrid 9.5 Fixed Price 11.9 Services Region Contract Value Tenure Pricing * Deals analysed are USD5.0 million and above only, throughout the analysis. Graph is not to scale and only represents the division across different parameters. Figures may not add up to 100 per cent due to rounding off # Hybrid pricing includes a combination of various pricing mechanisms Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database ITO deals continue to dominate the outsourcing space, though the total ITO deal value decreased by 18 per cent in 1Q145 over 4Q14, ITO deals form more than 80 per cent of the total deal value. Over the last two quarters, EMA has emerged as the largest outsourcing region, contributing 48 per cent of the total deal value in 1Q15. The AMERICAS have seen a further decrease in outsourcing while ASPAC has experienced multi-fold growth over 4Q14. 1Q15 saw the continued dominance of Fixed Price contracting model, contributing 54 per cent of the deal value, followed by Hybrid model, contributing 44 per cent. 13

Number of deals Global sourcing snapshot: January to March 2015 IT-BPO deals* signed in 1Q15 (Total number of contracts: 192) 100% 90% 80% 70% Bundled 35 BPO 9 ASPAC 15 EMA 78 More than USD 500 MN 7 Between USD 100-500 MN 32 More than 5-years 16 2 Others 11 Time & Material Hybrid 32 # Total contracts 192 60% 50% 40% ITO 148 Less than USD 100 MN 153 Between 1 to 5-years 155 Fixed Price 147 30% 20% Americas 99 10% 0% Less than 1-year 21 Services Region Contract Value Tenure Pricing * Deals analysed are USD5.0 million and above only, throughout the analysis. Graph is not to scale and only represents the division across different parameters. Figures may not add up to 100 per cent due to rounding off # Hybrid pricing includes a combination of various pricing mechanisms Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database The overall number of contracts has decreased by 22 per cent in 1Q15 over 4Q14, with a similar trend being seen across regions as well as service type. Bundled deals have shown a 75 per cent growth in terms of numbers in 1Q15 as compared in 4Q14. There has been a significant (~ 68 per cent) reduction in the number of BPO deals in 1Q15 over 4Q14 and overall BPO deals contribute to only 5 per cent of the total number of deals. This is very similar to 1Q14 when BPO deals contributed to 7 per cent of total deals by numbers. 14

Total Value of contracts (USD Billion) Services segmentation ITO services Analysis of ITO deals 1Q15 8 7 IT Infrastructure 9% 3.1 0.1 6 0.2 5 6.5 4 3 2 1 IT Consulting 1% ERP 5% SI 12% ADM 11% ICT Services 15% IT Products 6% IT Bundled services 39% Other IT Services, 3% 0 0 10 20 30 40 50 60 70 Number of Deals Note: Size of bubble indicates percentage share of the total number of ITO deals SI System Integration, Other IT services Software testing, IT Education and Training, SaaS Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database IT Infrastructure, IT Bundled Services, and System Integration together contributed 77 per cent of ITO deals in terms of value during 1Q15. While System Integration and IT Infrastructure have exhibited multifold growth in 1Q15 as compared to 1Q14, ICT services and ADM have exhibited more than 75 per cent reduction in growth during the same period. 1.1 0.3 2.5 4.0 0.01 Value of contracts (USD Billion) Note: All values in USD billion. Scale of graph is just representative to illustrate the division across different parameters. Figures may not add up to 100 per cent due to rounding off. Refer L.H.S. figure for legend Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database 17.7 ADM ERP ICT IT IT IT IT SI Other IT Total Bundled Conslt. Infra. Products Services ITO 15

Total Value of contracts (USD Million) Services segmentation BPO services 900 800 Transactional Services 11% Analysis of BPO deals 1Q15 700 770 600 500 400 HRO 11% F&A 11% 462 17 30 1,806 300 200 100 BPO Bundled services 11% Content CRM 11% Management 22% 0 Other BPO 0 KPO 4 Services 11% 11% Number of Deals Note: Size of bubble indicates percentage share of the total number of BPO deals Other BPO services Data management, logistics etc. Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database 94 88 BPO Content Bundled Mgmt. Services 37 CRM 308 F&A HRO KPO Other Transactional BPO Services Services Value of contracts (USD Million) Total BPO Note: All values in USD million. Scale of graph is just representative to illustrate the division across different parameters. Figures may not add up to 100 per cent due to rounding off. Refer L.H.S. figure for legend Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database Pure play BPO deals have significantly reduced in market share over the last few quarters, though there was a nominal increase of 1 per cent in 1Q15 as compared to 4Q14 in terms of deal value. After few quarters of weak activity, F&A services rose back with multifold growth in 1Q15 as compared to 4Q14. HRO and Transactional Services have also exhibited multifold growth in the same period. 16

Section 3 IT-BPO outsourcing outlook

Outlook Global outsourcing industry 1Q15 has opened up the year on lines similar to previous first quarters of the last few years with lesser deal activity. But this is portent of an increased number of deals in the coming months as with the previous years. Many organisations are continuing to expand the scale and scope of their outsourcing efforts geographically, cross-functionally, from a more wide-ranging process standpoint, and with the inclusion of more bundled deals. Though there has been a significant drop in outsourcing by the Government, Government and Defence sectors continue to be the largest outsourcers in 1Q15 compared to other industries. Banking and financial services companies have driven many outsourcing deals this quarter. The hybrid and fixed pricing models are strong favorites while there has been a decrease in the share of hybrid pricing deals over the quarters. This may indicate a reduction in the risk appetite of the vendors We are seeing a reducing dominance of AMERICAS in the global buyer market for outsourcing services although it continues to be the major outsourcing region, EMA is continuing to gain outsourcing momentum. In terms of outsourcing relationships, the recent 1Q15 Pulse survey 1 indicates that traditional generic and transactional outsourcing continues to commoditise. Cloud, client maturity and going forward process automation are major drivers for this, especially in IT. Buyers are seeking more platform solutions tailored to specific industry, geographic, and regulatory needs and that can drive business value beyond cost savings. 1 KPMG SSOA Pulse survey 1Q15 Source: IDC (www.idc.com), Contract Database, Apr 2015, KPMG in India Research & Analysis based on the IDC contract database 18

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Glossary (1/2) Terms ITO BPO Definition Information Technology Outsourcing Business Process Outsourcing ACV Annualised contract value = ( total value of a contract/tenure in months ) x 12 TCV AMERICAS ASPAC EMA Total contract value North America and South America Asia and Oceania Europe, Middle East and Africa 20

Glossary (2/2) Terms ITO Services ADM ERP ICT Services IT Bundled Services IT Consulting IT Infrastructure IT Products Other IT Services System Integration BPO Services BPO Bundled Services Content Management CRM F&A HRO KPO Other BPO Services Transactional Services Definition Application development and maintenance Enterprise resource planning implementation and support services Information and communication technology services (e.g. contact centre technology, telecommunication, and related services) Any combination of two or more IT services mentioned above Information technology consulting services IT hardware deployment (e.g. data centre outsourcing, network management, hardware deploy and support, hosting services, etc.) Software products typically developed and branded by IT companies and sold as own Intellectual Property Typically services that do not fall in other buckets (e.g. Software testing, IT helpdesk support services, Cyber security) IT system integration services (application or enterprise system integration services) Any combination of two or more BPO services mentioned above Data management services (e.g. document management, print management, etc.) Customer Relationship Management solutions and services Finance and Accounting services Human Resource outsourcing services Knowledge process outsourcing services Typically services that do not fall in other buckets (e.g. Procurement, logistics, desktop support, other skills training, etc.) Services like billing services, payment processing, claims processing, mortgage processing, etc. 21

KPMG contacts: Stan Lepeak Director Global Research, Management Consulting KPMG in the US +1 203 458 0677 slepeak@kpmg.com Viral Thakker Partner Advisory Services KPMG in India +91 22 3090 1730 vthakker@kpmg.com Jehil Thakkar Partner Advisory Services KPMG in India +91 22 3090 1670 jthakkar@kpmg.com 22

Thank you Analyst Team Contact: Shailesh Narwaiye KPMG in India +91 20 3050 4000 snarwaiye@kpmg.com Analysts: Harish Baliga Esther Jaydevi Swati Kumari The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. 2015 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights The KPMG name, logo and cutting through complexity are registered trademarks of KPMG International Cooperative ( KPMG International ), a Swiss entity.