EbixCash Global Services reports 54% YOY organic growth with 7 new contracts in Q4 of 2021

EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare, and e-learning industries, on January 17 announced that its subsidiary EbixCash Global Services, that targets the Customer Response Outsourcing (CRO), Human Resource Outsourcing (HRO) & Business Process Outsourcing (BPO) sectors, has secured seven new prestigious contracts in the fourth quarter of the year 2021.

Reviewing its successful performance in the year 2021 as compared to 2020, the EbixCash Global Services Division announced a number of metrics to gauge its success including its employee count growth and surge in revenue growth. As of 31st December 2021, its employee count had grown to 2,850 from 810 in September 2020. Meanwhile, the company secured 28 new clients in the year 2021, with seven new clients still in the process of being onboarded.

“Year over year revenue growth reported in 2021 was 54%. As of Jan 17, the Division is proudly associated with 78 leading clients. The Division successfully set up a 125,000 square feet Headquarters in Sector-80, Noida in 2021. EbixCash Global Services is today recognized as the first independent customer retention and customer response organization in India, with a variety of BPO, CRO and HRO offerings via nine contact centers across the country.  The  Division serves industries and clients that have cross-selling value for EbixCash services, while focusing on top priority areas like sales, fulfillment and customer retention for its clients,” the company announced in its release.

Bhupesh Tambe, Managing Director, EbixCash Global Services said, “As the Founder of AssureEdge, I made the decision to merge AssureEdge with  EbixCash in October 2020 and reset it as EbixCash Global Services. I understood the EbixCash end-to-end vision and the global opportunities that it would bring to the Division in terms of BPO, HRO and CRO. My confidence in the EbixCash enterprise paid off handsomely with the Division reporting 54% YOY top line growth in a pandemic hit year. I am especially excited about the national and international opportunities that are ahead of us in the year 2022.”

Robin Raina, Chairman of the Board, EbixCash said, “I am quite pleased with the Division performance, considering that this was achieved in the midst of the century’s biggest human pandemic COVID-19 that hurt most businesses to a great extent. The Division closed the year 2021 with seven new wins, while reporting strong organic top line growth, and growing its staff strength by approximately 2,000 employees – all very creditable achievements.”

About EbixCash

EbixCash is a leader in domestic and international money remittance, foreign exchange (Forex), travel, pre-paid and gift cards, utility payments and software solutions for lending, wealth management, bus exchanges and insurance in India and other markets. EbixCash’s "Phygital” strategy combines over 320,000 physical distribution outlets in India and ASEAN countries with an Omni-channel online digital platform. EbixCash ’s Forex operations have a leadership position in India with operations in 20 international airports, including Delhi, Mumbai, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year (pre-COVID-19). EbixCash’s inward remittance business is the clear market leader in India, processing approximately $5 billion in gross annual remittance volume (pre-COVID-19). Through its travel portfolio of Via and Mercury, EbixCash is also one of Southeast Asia’s leading travel exchanges with over 200,000 agents, 25 branches and over 9,800 corporate clients, processing an estimated $2.5 billion in gross merchandise value per year (pre-COVID-19). For more information, visit the Company’s website at www.ebixcash.com

Image: www.ebixcash.com