EXL recognized as a Major Player in IDC MarketScape for Intelligent Automation ServicesThursday, July 21, 2022
Emerging category of services expands traditional business process management capabilities with advanced analytics and AI-driven platforms
NEW YORK, July 21, 2022 - EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, today announced that it has been named a Major Player in the IDC MarketScape: Worldwide Intelligent Automation Services 2022 Vendor Assessment (doc #US48061422, May 2022). This is the second IDC MarketScape in this emerging category, and the first time that EXL has been included in the research.
Focused on novel uses of artificial intelligence (AI), machine learning and cloud to automate knowledge work and decisioning environments, the IDC MarketScape spotlights the evolution of business process management into an increasingly data-intensive, technology-driven discipline.
“The old world of traditional business process management rooted in workflow efficiencies and global labor arbitrage is rapidly being replaced by sophisticated, data-driven strategies that are helping businesses transform into more nimble, resilient operations,” said Rohit Kapoor, Vice Chairman and Chief Executive Officer, EXL. “EXL has been leading that evolution by investing heavily in AI, data, cloud and digital capabilities without losing sight of the deep domain expertise in the inner workings of our clients’ businesses. By combining that knowledge with our data-led approach, we’ve been able to differentiate from our competitors and really start to define an entirely new category of data-led transformation.”
Specific EXL initiatives that showcase the company’s groundbreaking work in the intelligent automation space include a recent project with a leading regional bank to develop a next generation buy-now-pay-later solution that seamlessly integrates with partner lending platforms and retailers to transform the retail experience for customers. The solution choregraphs credit analytics, pre-approvals, fraud prevention, and know-your-customer (KYC) support with loan servicing functions, including digital payment and collections, invisibly, in fractions of a second. Similarly, a recent data integration project with Global Insurance Broker leveraged AI and machine learning technologies from EXL to extract and analyze large volumes of unstructured customer communication data to deliver more personalized customer engagement.
The IDC MarketScape included a quantitative and qualitative analysis of 18 Intelligent Automation service providers with global service portfolios. IDC MarketScape is based on a comprehensive and rigorous framework that highlights the factors expected to be the most influential for both short-term and long-term success.
“We are pleased to be named as a Major Player in this rapidly evolving space. We believe we have carved out an entirely new category of data-led automation that leverages a precise combination of technology, redesigned data flows, algorithmic decision support and human-in-the-loop to transform core business functions,” said Ankor Rai, Chief Data Officer, EXL. “That human component is critical because no technology alone is going to work perfectly for every use case and no fully manual, consulting-driven solution will keep pace with the speed required in today’s marketplace. We believe we are unique in our ability to bring all these capabilities to bear for a client, tying the human expertise directly into the technology-driven, data-led automation loop to create breakthrough new solutions.”
About the IDC MarketScape:
The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company that partners with clients to improve business outcomes and unlock growth. By bringing together deep domain expertise with robust data, powerful analytics, cloud, artificial intelligence (“AI”) and machine learning (“ML”), we create agile, scalable solutions and execute complex operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media, and retail, among others. Focused on driving faster decision-making and transforming operating models, EXL was founded on the core values of innovation, collaboration, excellence, integrity and respect. Headquartered in New York, our team is over 39,000 strong, with more than 50 offices spanning six continents. For more information, visit www.exlservice.com.
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This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to successfully close and integrate strategic acquisitions, our ability to respond to and manage public health crises, including the outbreak and continued effects of COVID-19 pandemic, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Quarterly Report on Form 10-Q and Annual Report on Form 10-K. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
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