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Copyright © 2018 Everest Global, Inc.
This document has been licensed for exclusive use and distribution by EXL
EGR-2018-0-E-2636
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Everest Group PEAK Matrix™ for Analytics BPS
Service Providers
Focus on EXL
May 2018
2Copyright © 2018, Everest Global, Inc.
EGR-2018-0-E-2636
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Everest Group recently released its report titled “Analytics Business Process Services (BPS) – Service Provider Landscape with
PEAK Matrix™ Assessment 2018.” This report analyzes the changing dynamics of the analytics BPS landscape and assesses
service providers across several key dimensions.
As a part of this report, Everest Group updated its classification of 20 service providers on the Everest Group PEAK Matrix™
for analytics BPS into Leaders, Major Contenders, and Aspirants. The PEAK Matrix is a framework that provides an objective,
data-driven, and comparative assessment of analytics BPS service providers based on their absolute market success and
delivery capability.
Everest Group also identified three service providers as the “2018 Analytics BPS Market Star Performers” based on the strongest
forward movement demonstrated on the PEAK Matrix year-on-year.
Based on the analysis, EXL emerged as a Leader and a Star Performer. This document focuses on EXL’s analytics BPS
experience & capabilities. It includes:
EXL’s position on the analytics BPS PEAK Matrix
Detailed analytics BPS profile of EXL
Buyers can use the PEAK Matrix to identify and evaluate different service providers. It helps them understand the service
providers’ relative strengths and gaps. However, it is also important to note that while the PEAK Matrix is a useful starting point,
results from the assessment may not be directly prescriptive for each buyer. Buyers will have to consider their unique situation
and requirements, and match them against service provider capability for an ideal fit.
Introduction and scope
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Everest Group’s definition of the analytics BPS market
is centered on the BPS aspect of an analytics solution
Provides core technology systems
to run analytics
Provides Application Development
& Management (ADM) of analytics
technology systems
Analytics solution
Analytics technology Analytics services
Analytics IT services
Focus of this study
Provides analytics-focused business
process services
Broad-based BPO providers
Specialists
Analytics BPS
ILLUSTRATIVE
4Copyright © 2018, Everest Global, Inc.
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Note 1: Service providers scored using Everest Group’s proprietary scoring methodology given on page 12
Note 2: Assessment for Absolutdata, Fractal Analytics, LatentView, and Mu Sigma excludes service provider inputs on this particular study, and is based on Everest Group’s estimates which
leverage Everest Group’s proprietary Transaction Intelligence (TI) database, ongoing coverage, service provider public disclosures, and interaction with buyers
Source: Everest Group (2018)
Everest Group PEAK Matrix™
Analytics BPS – Service Provider Landscape with Services PEAK Matrix™
Assessment 2018 | EXL Positioned as Leader
High
Low
Low High
Aspirants
Vision & capability
(Measures ability to deliver services successfully)
Mark
et
imp
act
(Measure
s im
pact cre
ate
d in t
he m
ark
et)
Accenture
TCS
EXL
Fractal AnalyticsWipro
Infosys
Cognizant
Aegis
Tech Mahindra
NTT Data
Capgemini
IBM
Genpact
Mu Sigma
WNS
Tiger AnalyticsAbsolutdata
LatentView
Bridgei2i
Intelenet
LeadersMajor Contenders
Everest Group Analytics Business Process Services (BPS) – Service Provider Landscape with Services PEAK Matrix™ Assessment 2018
Leaders
Major Contenders
Aspirants
Star Performers
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EXL | Analytics BPS profile (page 1 of 5)
Overview
Recent acquisitions and partnerships
2016: Acquired Datasource Consulting, LLC, which specializes in
enterprise data management and business intelligence
2016: Acquired IQR Consulting, a provider of advanced analytics
and strategic consulting services for credit unions and super-
regional banks
2016: Entered into a strategic partnership with Automation
Anywhere, a leading provider of Robotic Process Automation
(RPA) software
2015: Acquired RPM Direct to bolster analytics capabilities with
data-driven consumer marketing expertise
Recent developments
2017:EXL launched state-of-the-art digital experience center in
Jersey City, NJ, United States
2017: Design and built data lake on a big data platform to support
data integration and data analysis
2016: Recognized as “Top 10 Analytics Firms you wished you
worked for in 2016 in India” by Analytics India magazine
2015: Featured in “The 100 Most Trustworthy Companies in
America” for the year 2015 by Forbes magazine
Company profile: EXL is an operations management and analytics company
that leverages analytics to drive business impact through integrated services and
industry knowledge. EXL Analytics provides data-driven, action-oriented, and
industry-specific solutions to business problems through statistical data mining,
analytics techniques, and a consultative approach.
EXL started operations in 1999, and has more than 27,000 professionals in
locations throughout the United States, Europe, Latin America, Australia, South
Africa, and Asia.
Key leaders
Rohit Kapoor, Vice Chairman & Chief Executive Officer
Pavan Bagai, President & COO
Vivek Jetley, SVP & Global Co-Head, EXL Analytics
Ankor Rai, SVP & Global Co-Head, EXL Analytics
Headquarters: New York, United States
Website: www.exlservice.com
Analytics BPS 2015 2016 2017 H11
Revenue (US$ million) 60-70 ~166 ~101
Number of FTEs 2,100-2,300 ~2,800 ~3,000
Number of clients 100+ 115-120 135-140
Suite of services
Advanced analytics services: marketing & customer, credit risk, operational,
and finance & investment analytics
Enterprise data management and business intelligence solutions: data
warehousing, data architecture, data integration, data quality, master data
management, reporting & analytics, and program management
Direct marketing suite: end-to-end customer acquisition solution for CMOs
that use predictive analytics and domain-specific pattern recognition algorithms
for providing highly measurable and ROI-driven marketing campaigns
Domain-specific productization of analytics solutions and proprietary artificial
intelligence suite
Big data services
1 Data for 2017 up to June 30, 2017
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EXL | Analytics BPS profile (page 2 of 5)
Key delivery locations
Gurgaon Noida
MumbaiAhmedabad
Singapore
London
Bogotá
HartfordNew Jersey
New York
Richmond
Bangalore
Source: Everest Group (2018)
Denver
7Copyright © 2018, Everest Global, Inc.
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EXL | Analytics BPS profile (page 3 of 5)
Capabilities and key clients
1 Banking & financial services
2 Others include travel & logistics, energy & utilities, CPG & retail, and media & entertainment
Source: Everest Group (2018)
Key analytics BPS engagements
Client name Region Client since
Large American multinational retailer North America 2017
Premier Biopharmaceutical Company North America 2017
Major European retail and commercial bank Europe 2016
Leading information services and publishing company North America 2010
Large American healthcare company North America 2008
Multinational financial services company North America 2002
Analytics BPS revenue mix by
geography
Revenue in US$ million (H1 2017)
Analytics BPS revenue mix by
industry
Revenue in US$ million (H1 2017)
Analytics BPS FTE mix by segment
Number of FTEs
Analytics BPS revenue mix by
functional focus
Revenue in US$ million (H1 2017)
40%
33%
12%
8%7%
Insurance
Retail &
mediaOthers2
BFS1
100% = ~101100% = ~3,000 100% = ~101 100% = ~101
85%
12%
North
America
UK
Continental Europe
(2%)
APAC (1%)
Healthcare
15%
20%
40%
15%
5%5%
Risk/fraudOperations /
industry-specific
Marketing
CustomerFinance
Supply chain
20%
15%
30%
35%
Descriptive
ReportingPrescriptive
Predictive
8Copyright © 2018, Everest Global, Inc.
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EXL | Analytics BPS profile (page 4 of 5)
Key industry-specific technology solutions/tools
Solution name Processes served Description
Arktik - KYC
Automation
Predictive analytics Robotics and machine learning-based platform that helps client due diligence by extracting information from 25+ data
sources and assessing risk score. The tool is live in 15+ countries
Business EXLerator
Framework
Analytical tools and
techniques
A platform that integrates multiple tools and techniques, such as analytics, robotic process automation, bolt-on technology
automation solutions, and wrappers, into comprehensive business process solutions
CareRadius® Dashboard reporting CareRadius® Suite functions as the care management desktop that brings together all data related to a member's health into
a single, "member-centric" view
Data Unleashed Dashboard reporting A semantics-based platform for data integration and reporting on data from structured, semi-structured, and unstructured
data sources
E-Fab - Financial
Statement Spreading
Dashboard reporting
and prescriptive
analytics
Advanced automation and analytics solution that can create financial statement spreading. The utility contains 8,000+ tags
and can extract information from machine readable documents, websites, and data sources
EXL Subrosource® Prescriptive analytics Refines subrogation recovery workflow, maximizes recovery results, and reduces costs for insurers
HEDIS Gaps-in-Care Predictive analytics Tool to predict a health plan member's likelihood of compliance with HEDIS screenings/tests.
LifePRO® Dashboard reporting This is an IT system that streamlines policy administration for life and annuity providers and features multi-company support,
billing & collections, claims processing, and tax reporting
MedConnectionSM Prescriptive analytics An EXL proprietary BPaaS offering that analyses medical records and bills for bodily injury claims resulting in productivity
gains and optimized outcomes for insurance
MicroAnalytix® Analytical tools and
techniques
A proprietary methodology (SAS-based) tool used for end-to-end model building and high-end analytics. Accounts for all
aspects of modeling (imputation, transformation, validation, etc.)
Payment Integrity Prescriptive analytics Healthcare insurance tool that aids in identification of overpaid claims and FWA scenarios
Population Tree Analytical tools and
techniques
A proprietary tool that develops classification and regression model trees. Uniquely, this tool defines objective functions at a
population level, as compared to basic data entry level
Readmission Predictive analytics Analytics tool which predicts the likelihood of 30-day hospital readmission for in-patient visits
Risk Stratification Predictive analytics Tool for real-time scoring of clinical risk at a member level – includes composite and individual risk scores for hospital
admissions, readmissions, ER visits and medication adherence
RPM – Multichannel
Marketing Process
Predictive analytics Identifies profitable customers by leveraging quantitative, data-driven techniques that target high policyholder lifetime value
Smart Meter (IoT) Prescriptive analytics Used for monitoring utilities consumption through IoT; can also be used by customers to analyse their utilities-consumption
compared to their peers, and to optimize consumption
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Market impact Vision & capability
Market
adoption Portfolio mix
Value
delivered1 Overall
Scope of
services
offered
Innovation and
investments
Delivery
footprint
Vision and
strategy Overall
EXL | Analytics BPS profile (page 5 of 5)
Everest Group assessment – Leader
Strengths Areas of improvement
EXL is a broad-based BPO provider focused on the North America
analytics market in industries such as BFSI, retail, and healthcare
It has invested in an innovation lab that is focused on design thinking and
has developed technology solutions, such as telematics tools for auto
insurers, using automation, machine learning, and IoT
It has also partnered with start-ups, such as Automation Anywhere, D&B,
and Equifax, to build a well-diversified portfolio of automation tools,
aggregated data sources, and industry- and function-specific advanced
analytics tools
EXL is focusing on partnership-led engagements in the market. It has also
been able to include business outcome-based pricing in its contracts
Its consulting-led approach, coupled with its domain expertise to solve
clients’ business problems, is well appreciated by clients
While a major player in the U.S., looking at other potential geographies
to expand its client base can allow EXL to fuel the expansion of its
business in the future
EXL should look to expand its presence in other industries, such as
travel & logistics, which are gaining prominence. This will help it to
overcome the risk of concentration for its revenue stream
Buyers suggest employee attrition, scalable pricing models, and the
development of productized solutions as a few improvement areas for
EXL
1 Value delivered score and overall PEAK Matrix positioning adversely impacted for those service providers who did not provide adequate information
Measure of capability: High Low
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Appendix
11Copyright © 2018, Everest Global, Inc.
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Everest Group PEAK Matrix™ is a proprietary
framework for assessment of market impact
and vision & capability
Everest Group PEAK Matrix
Vision & capability
Measures ability to deliver services successfully
High
Low
Low High
Leaders
Aspirants
Ma
rke
t im
pa
ct
Measure
s im
pact cre
ate
d in t
he m
ark
et
Major Contenders
12Copyright © 2018, Everest Global, Inc.
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Services PEAK Matrix™ evaluation dimensions
Measures impact created in the market –
captured through three subdimensions
Market adoption
No. of clients, revenue base, and
YOY growth, deal value/volume
Portfolio mix
Diversity of client/revenue base
across geos and type of
engagements
Value delivered
Value delivered to the client
based on customer feedback and
transformational impact
Vision and strategy
Vision for the client and itself;
future roadmap and strategy
Scope of services offered
Depth and breadth of services
portfolio across service sub-
segments / processes
Innovation and investments
Innovation and investment in the
enabling areas, e.g., technology
IP, industry/domain knowledge,
innovative commercial
constructs, alliances, M&A, etc.
Delivery footprint
Delivery footprint and global
sourcing mix
Measures ability to deliver services successfully.
This is captured through four subdimensions
Mark
et
imp
act
Vision & capability
Major Contenders
Leaders
Aspirants
13Copyright © 2018, Everest Global, Inc.
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Everest Group confers the Star Performers title on
providers that demonstrate the most improvement
over time on the PEAK Matrix™
Star Performers
are identified by
top quartile
performance
improvement on
the X and Y axes
for each segment
Methodology
Everest Group selects Star Performers based on the relative YOY improvement on the PEAK Matrix
Year 1
Year 0
Ma
rke
t Im
pa
ct
Vision & capability
We identify the service providers whose improvement
ranks in the top quartile and award the Star Performer
rating to those service providers with:
The maximum number of top-quartile performance
improvements across all of the above parameters
AND
At least one area of top-quartile improvement
performance in both market success and capability
advancement
The Star Performers title relates to YOY performance for a given service provider and does not reflect the overall
market leadership position, which is identified as Leader, Major Contender, or Aspirant.
In order to assess advances on market impact,
we evaluate each service provider’s performance
across a number of parameters including:
Yearly ACV/YOY revenue growth
# of new contract signings and extensions
Value of new contract signings
Improvement in portfolio mix
Improvement in value delivered
In order to assess advances on vision and
capability, we evaluate each service provider’s
performance across a number of parameters
including:
Innovation
Increase in scope of services offered
Expansion of delivery footprint
Technology/domain specific investments
14Copyright © 2018, Everest Global, Inc.
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FAQs
Does the PEAK Matrix™ assessment incorporate any subjective criteria?
Everest Group’s PEAK Matrix assessment adopts an unbiased and fact-based approach (leveraging service provider / technology vendor RFIs and
Everest Group’s proprietary databases containing providers’ deals and operational capability information). In addition, these results are validated /
fine-tuned based on our market experience, buyer interaction, and provider/vendor briefings
Is being a “Major Contender” or “Aspirant” on the PEAK Matrix, an unfavorable outcome?
No. The PEAK Matrix highlights and positions only the best-in-class service providers / technology vendors in a particular space. There are a number of
providers from the broader universe that are assessed and do not make it to the PEAK Matrix at all. Therefore, being represented on the PEAK Matrix is
itself a favorable recognition
What other aspects of PEAK Matrix assessment are relevant to buyers and providers besides the “PEAK Matrix position”?
A PEAK Matrix position is only one aspect of Everest Group’s overall assessment. In addition to assigning a “Leader”, “Major Contender,” or “Aspirant” title,
Everest Group highlights the distinctive capabilities and unique attributes of all the PEAK Matrix providers assessed in its report. The detailed metric-level
assessment and associated commentary is helpful for buyers in selecting particular providers/vendors for their specific requirements. It also helps
providers/vendors showcase their strengths in specific areas
What are the incentives for buyers and providers to participate/provide input to PEAK Matrix research?
Participation incentives for buyers include a summary of key findings from the PEAK Matrix assessment
Participation incentives for providers/vendors include adequate representation and recognition of their capabilities/success in the market place,
and a copy of their own “profile” that is published by Everest Group as part of the “compendium of PEAK Matrix providers” profiles
What is the process for a service provider / technology vendor to leverage their PEAK Matrix positioning and/or “Star Performer” status ?
Providers/vendors can use their PEAK Matrix positioning or “Star Performer” rating in multiple ways including:
– Issue a press release declaring their positioning. See citation policies
– Customized PEAK Matrix profile for circulation (with clients, prospects, etc.)
– Quotes from Everest Group analysts could be disseminated to the media
– Leverage PEAK Matrix branding across communications (e-mail signatures, marketing brochures, credential packs, client presentations, etc.)
The provider must obtain the requisite licensing and distribution rights for the above activities through an agreement with the designated POC at
Everest Group.
Does the PEAK Matrix evaluation criteria change over a period of time?
PEAK Matrix assessments are designed to serve present and future needs of the enterprises. Given the dynamic nature of the global services market and
rampant disruption, the assessment criteria are realigned as and when needed to reflect the current market reality as well as serve the future expectations
of enterprises
About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business
services, and sourcing. We are trusted advisors to senior executives of leading
enterprises, providers, and investors. Our firm helps clients improve operational
and financial performance through a hands-on process that supports them in making
well-informed decisions that deliver high-impact results and achieve sustained value.
Our insight and guidance empower clients to improve organizational efficiency,
effectiveness, agility, and responsiveness. What sets Everest Group apart is the
integration of deep sourcing knowledge, problem-solving skills and original research.
Details and in-depth content are available at www.everestgrp.com.
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