Coronavirus

Responsible Resilience Amid a Global Humanitarian Crisis

By Keshav Murugesh, Group CEO of WNS Global Services

“Our moral responsibility is not to stop the future, but to shape it...to channel our destiny in humane directions and to ease the trauma of transition.”

Nothing can better sum up the resilience of the USD 194 Billion Indian IT-BPM industry than this quote by the futurist Alvin Toffler. Be it during the 2001 dot-com bubble burst, or the 2008 depression, or the current COVID-19 crisis, resilience with responsibility and innovation has been the hallmark signature of this industry – one that partners global brands to realize futuristic visions for better lives and enhanced business outcomes.

Lessons of Resilience from the First Wave

We learned invaluable lessons from the first wave of COVID-19 last year, a crisis that fast-forwarded the future in a matter of days.

  • We pivoted with digital and technology, with virtual collaborative tools and workflow models to seamlessly move global businesses through restoration and recovery to growth.
  • Employee well-being was a top priority, and we engaged them with the right communication, inspired purpose and meaningful benefits to empower them in keeping clients satisfied.
  • We elevated robust business continuity programs to pandemic continuity programs.
  • We enhanced collaboration and trust with the government to further promote the ease of doing business with extremely supportive policies.
  • We exceeded our clients’ expectations when it came to operational efficiency, risk management and cybersecurity despite the crisis.

Now, in the second wave, the private sector is partnering with the government to ramp-up the supply of critical healthcare equipment, scale-up vaccinations and rapidly build makeshift hospitals and healthcare facilities to collectively combat the crisis.

Eyes on the Future with Digital Clairvoyance

The Indian IT-BPM industry’s relentless pursuit of excellence is rooted in a vital question: What does the world need, for today and tomorrow?

The answer is simple – business has to continue better than normal, better than good, better than ever before! And so, we are ready with:

RISE: The Powerful Anthem of Rebound

The Indian IT-BPM industry had, much before the COVID-19 crisis, begun digitally enabling its clients with technology preparedness, automated controls and re-engineered processes. Today, RISE is a powerful emblem of their renewed commitment and partnership.

R- Resilience

In March 2020, the government and industry came together like a well-oiled machine to move nearly 4.5 million laptops in the shift to remote work in one seamless stroke. This was possible due to the resilience of India’s infrastructure:

I – Insightful Intelligence

As the analytics Center of Excellence of the world, India has the fastest growing analytics talent today. Revenue from analytics in 2020 grew by 19.5 percent over 2019 to ~USD 36 billion – and is estimated to touch USD 75 billion by 2025.

S - Scale

India’s IT-BPM industry’s revenues are expected to surge to USD 350 billion in the next four years at an annual growth rate of 10 percent – with digital services contributing nearly 50 percent. Unified Payment Interface transactions are anticipated to surpass the number of transactions of both Visa and MasterCard in the next few years.

Investor confidence in the Indian tech industry has soared to USD 38 billion, especially with SaaS-based companies, whose growth was driven by digital tools and automation.

India produced around 50,000 digital role-ready graduates, while employer-reskilled numbers accounted for nearly 200,000 of the total digital talent increase from 2019 to 2020.

E - Entrepreneurship

India’s startup ecosystem has grown almost tenfold – from 4,200 startups in 2015 to 40,000 in November 2020. In fact, 2020 saw the record rise of 12 unicorns, and the first five months of 2021 brought in 14 more in the areas of FinTech, InsurTech, HealthTech, EdTech and Cybersecurity.

As we look toward the future, India will continue to RISE as it further strengthens its reputation as a far-sighted global enabler of growth. As a nation, it stands shoulder to shoulder with the world in combating this immensely humanitarian crisis. The Indian IT-BPM industry is also preparing to set newer benchmarks across its growing realm of influence as it emerges much stronger than ever before. 

Keshav Murugesh is the Group CEO of WNS, a leading provider of global Business Process Management (BPM) services.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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