By M H Ahssan
The global economic slowdown is beginning to spell a windfall for some BPO firms. Companies such as WNS, EXL, Steria and Quatrro are finding new opportunities as clients aggressively pursue cost-cutting.
“With reality dawning that these are going to be tough times, companies have become more aggressive on outsourcing,” said WNS (Holdings) CEO Neeraj Bhargava. The BPO firm recently renewed its contract with Centrica that includes a new, three-year transformational plan for streamlining the energy firm’s operations. WNS, which is witnessing traction in utilities, telecom and insurance, is in active discussions for 5-6 deals that it expects to close in the next quarter.
BPO firm ExlService Holdings says the last few weeks have seen clients cut down on their decision-making time to four weeks from 12-18 weeks earlier. “There is a healthy business pipeline and there is a fair number of companies looking to cut costs,” president and CEO Rohit Kapoor said. Apart from insurance vertical, the firm is also seeing demand for finance and accounting work in retail and manufacturing.
Clients are now looking towards their outsourcing vendors to suggest ways to cut costs, Genpact president and CEO Pramod Bhasin had said recently. “There are some project cancellations but there are new opportunities too.”
As per a report by telecom and software consulting firm Ovum, BPO will overshadow the importance of IT in the outsourcing market in 2009. While there is lower level of offshoring in BPO at present, it is more non-discretionary in nature.
“As companies cut back on resources, they will look at outsourcing more work,” Ovum’s Asia Pacific software and sourcing principal analyst Jens Butler said. For outsourcing services vendor Steria, its large exposure to public sector—about 36% of revenues come from the vertical—is an advantage. “We have seen orders go up in the public sector as governments try to revive the economy by spending more,” Steria CEO Mukesh Aghi said. The firm’s joint venture with UK’s Department of Health recently won outsourcing contracts worth £13.8 million to provide finance, accounting and payroll services to 12 national health service organisations.
Quatrro BPO solutions has seen great demand for foreclosures and legal process outsourcing (LPO) work. MD Raman Roy says his top management is focusing on bringing out solutions related to government bailouts. Amid all this, banking and financial services is also showing some activity. While WNS is seeing some pick-up in demand from banking companies, EXL’s Mr Kapoor said financial services firms in the US are looking at outsourcing partners for regulatory compliance work.
Saturday, December 27, 2008
BPOs Back In Demand
By M H Ahssan
The global economic slowdown is beginning to spell a windfall for some BPO firms. Companies such as WNS, EXL, Steria and Quatrro are finding new opportunities as clients aggressively pursue cost-cutting.
“With reality dawning that these are going to be tough times, companies have become more aggressive on outsourcing,” said WNS (Holdings) CEO Neeraj Bhargava. The BPO firm recently renewed its contract with Centrica that includes a new, three-year transformational plan for streamlining the energy firm’s operations. WNS, which is witnessing traction in utilities, telecom and insurance, is in active discussions for 5-6 deals that it expects to close in the next quarter.
BPO firm ExlService Holdings says the last few weeks have seen clients cut down on their decision-making time to four weeks from 12-18 weeks earlier. “There is a healthy business pipeline and there is a fair number of companies looking to cut costs,” president and CEO Rohit Kapoor said. Apart from insurance vertical, the firm is also seeing demand for finance and accounting work in retail and manufacturing.
Clients are now looking towards their outsourcing vendors to suggest ways to cut costs, Genpact president and CEO Pramod Bhasin had said recently. “There are some project cancellations but there are new opportunities too.”
As per a report by telecom and software consulting firm Ovum, BPO will overshadow the importance of IT in the outsourcing market in 2009. While there is lower level of offshoring in BPO at present, it is more non-discretionary in nature.
“As companies cut back on resources, they will look at outsourcing more work,” Ovum’s Asia Pacific software and sourcing principal analyst Jens Butler said. For outsourcing services vendor Steria, its large exposure to public sector—about 36% of revenues come from the vertical—is an advantage. “We have seen orders go up in the public sector as governments try to revive the economy by spending more,” Steria CEO Mukesh Aghi said. The firm’s joint venture with UK’s Department of Health recently won outsourcing contracts worth £13.8 million to provide finance, accounting and payroll services to 12 national health service organisations.
Quatrro BPO solutions has seen great demand for foreclosures and legal process outsourcing (LPO) work. MD Raman Roy says his top management is focusing on bringing out solutions related to government bailouts. Amid all this, banking and financial services is also showing some activity. While WNS is seeing some pick-up in demand from banking companies, EXL’s Mr Kapoor said financial services firms in the US are looking at outsourcing partners for regulatory compliance work.
The global economic slowdown is beginning to spell a windfall for some BPO firms. Companies such as WNS, EXL, Steria and Quatrro are finding new opportunities as clients aggressively pursue cost-cutting.
“With reality dawning that these are going to be tough times, companies have become more aggressive on outsourcing,” said WNS (Holdings) CEO Neeraj Bhargava. The BPO firm recently renewed its contract with Centrica that includes a new, three-year transformational plan for streamlining the energy firm’s operations. WNS, which is witnessing traction in utilities, telecom and insurance, is in active discussions for 5-6 deals that it expects to close in the next quarter.
BPO firm ExlService Holdings says the last few weeks have seen clients cut down on their decision-making time to four weeks from 12-18 weeks earlier. “There is a healthy business pipeline and there is a fair number of companies looking to cut costs,” president and CEO Rohit Kapoor said. Apart from insurance vertical, the firm is also seeing demand for finance and accounting work in retail and manufacturing.
Clients are now looking towards their outsourcing vendors to suggest ways to cut costs, Genpact president and CEO Pramod Bhasin had said recently. “There are some project cancellations but there are new opportunities too.”
As per a report by telecom and software consulting firm Ovum, BPO will overshadow the importance of IT in the outsourcing market in 2009. While there is lower level of offshoring in BPO at present, it is more non-discretionary in nature.
“As companies cut back on resources, they will look at outsourcing more work,” Ovum’s Asia Pacific software and sourcing principal analyst Jens Butler said. For outsourcing services vendor Steria, its large exposure to public sector—about 36% of revenues come from the vertical—is an advantage. “We have seen orders go up in the public sector as governments try to revive the economy by spending more,” Steria CEO Mukesh Aghi said. The firm’s joint venture with UK’s Department of Health recently won outsourcing contracts worth £13.8 million to provide finance, accounting and payroll services to 12 national health service organisations.
Quatrro BPO solutions has seen great demand for foreclosures and legal process outsourcing (LPO) work. MD Raman Roy says his top management is focusing on bringing out solutions related to government bailouts. Amid all this, banking and financial services is also showing some activity. While WNS is seeing some pick-up in demand from banking companies, EXL’s Mr Kapoor said financial services firms in the US are looking at outsourcing partners for regulatory compliance work.
BPOs Back In Demand
By M H Ahssan
The global economic slowdown is beginning to spell a windfall for some BPO firms. Companies such as WNS, EXL, Steria and Quatrro are finding new opportunities as clients aggressively pursue cost-cutting.
“With reality dawning that these are going to be tough times, companies have become more aggressive on outsourcing,” said WNS (Holdings) CEO Neeraj Bhargava. The BPO firm recently renewed its contract with Centrica that includes a new, three-year transformational plan for streamlining the energy firm’s operations. WNS, which is witnessing traction in utilities, telecom and insurance, is in active discussions for 5-6 deals that it expects to close in the next quarter.
BPO firm ExlService Holdings says the last few weeks have seen clients cut down on their decision-making time to four weeks from 12-18 weeks earlier. “There is a healthy business pipeline and there is a fair number of companies looking to cut costs,” president and CEO Rohit Kapoor said. Apart from insurance vertical, the firm is also seeing demand for finance and accounting work in retail and manufacturing.
Clients are now looking towards their outsourcing vendors to suggest ways to cut costs, Genpact president and CEO Pramod Bhasin had said recently. “There are some project cancellations but there are new opportunities too.”
As per a report by telecom and software consulting firm Ovum, BPO will overshadow the importance of IT in the outsourcing market in 2009. While there is lower level of offshoring in BPO at present, it is more non-discretionary in nature.
“As companies cut back on resources, they will look at outsourcing more work,” Ovum’s Asia Pacific software and sourcing principal analyst Jens Butler said. For outsourcing services vendor Steria, its large exposure to public sector—about 36% of revenues come from the vertical—is an advantage. “We have seen orders go up in the public sector as governments try to revive the economy by spending more,” Steria CEO Mukesh Aghi said. The firm’s joint venture with UK’s Department of Health recently won outsourcing contracts worth £13.8 million to provide finance, accounting and payroll services to 12 national health service organisations.
Quatrro BPO solutions has seen great demand for foreclosures and legal process outsourcing (LPO) work. MD Raman Roy says his top management is focusing on bringing out solutions related to government bailouts. Amid all this, banking and financial services is also showing some activity. While WNS is seeing some pick-up in demand from banking companies, EXL’s Mr Kapoor said financial services firms in the US are looking at outsourcing partners for regulatory compliance work.
The global economic slowdown is beginning to spell a windfall for some BPO firms. Companies such as WNS, EXL, Steria and Quatrro are finding new opportunities as clients aggressively pursue cost-cutting.
“With reality dawning that these are going to be tough times, companies have become more aggressive on outsourcing,” said WNS (Holdings) CEO Neeraj Bhargava. The BPO firm recently renewed its contract with Centrica that includes a new, three-year transformational plan for streamlining the energy firm’s operations. WNS, which is witnessing traction in utilities, telecom and insurance, is in active discussions for 5-6 deals that it expects to close in the next quarter.
BPO firm ExlService Holdings says the last few weeks have seen clients cut down on their decision-making time to four weeks from 12-18 weeks earlier. “There is a healthy business pipeline and there is a fair number of companies looking to cut costs,” president and CEO Rohit Kapoor said. Apart from insurance vertical, the firm is also seeing demand for finance and accounting work in retail and manufacturing.
Clients are now looking towards their outsourcing vendors to suggest ways to cut costs, Genpact president and CEO Pramod Bhasin had said recently. “There are some project cancellations but there are new opportunities too.”
As per a report by telecom and software consulting firm Ovum, BPO will overshadow the importance of IT in the outsourcing market in 2009. While there is lower level of offshoring in BPO at present, it is more non-discretionary in nature.
“As companies cut back on resources, they will look at outsourcing more work,” Ovum’s Asia Pacific software and sourcing principal analyst Jens Butler said. For outsourcing services vendor Steria, its large exposure to public sector—about 36% of revenues come from the vertical—is an advantage. “We have seen orders go up in the public sector as governments try to revive the economy by spending more,” Steria CEO Mukesh Aghi said. The firm’s joint venture with UK’s Department of Health recently won outsourcing contracts worth £13.8 million to provide finance, accounting and payroll services to 12 national health service organisations.
Quatrro BPO solutions has seen great demand for foreclosures and legal process outsourcing (LPO) work. MD Raman Roy says his top management is focusing on bringing out solutions related to government bailouts. Amid all this, banking and financial services is also showing some activity. While WNS is seeing some pick-up in demand from banking companies, EXL’s Mr Kapoor said financial services firms in the US are looking at outsourcing partners for regulatory compliance work.
Marketers Embrace Rural India
By M H Ahssan
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
Marketers Embrace Rural India
By M H Ahssan
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
Marketers Embrace Rural India
By M H Ahssan
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
Marketers Embrace Rural India
By M H Ahssan
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
With over 70% population of India residing in rural hinterlands, capturing these markets is becoming one of the most lucrative options for all sectors.
In the wake of economic crisis, while the urban markets remain subdued due to cash crunch, rural economy has remained largely unaffected. A good harvest has further added to their respite. As a result, marketers are focused on small towns and villages with dedicatd workforce. Companies such as ICICI, Unilever, LG, Hero Honda, ITC, Future group are deploying fresh talent and existing employee base to tap the potential in the rural markets and creating a base in it.
“The rural India has cash-in hand and are not bound by EMIs or loans,” says Pradeep Kashyap, CEO, MART, a rural marketing firm. “With the majority of our population based in tier-3, tier-4 cities and villages, it is the right time to penetrate into rural markets and many companies are doing just that.” They are hiring graduates and B-school freshers to study these markets and then devise a strategy for them, he adds.
Initially preferred by FMCG and consumer durable sector, now telecom, IT, financial services, insurance and retail sectors have entered the arena. It is not always that the fresh recruits are from top B-schools or colleges, because they might not like to get placed in such areas. However, those recruited definitely like to work at grassroots and connect with the majority of population.
Even in the 80s, rural markets were considered a big priority by the consumer durables sector, but it was ignored due to unavailability of proper rural demographic data. Post liberalization, tapping the urban markets in tier 1 and tier 2 cities, were considered to be the prerogative.
Now with the easily accessible data on rural demographics and urban saturation, the tides have turned in the favour of rural economy. ITC for instance is engaging MBAs from IRMA, MANAGE, IIFT, SIBM and others similar management schools, who have a sound educational background and are able to understand the rural markets for managerial positions.
“Be it procurement, setting up frontline-demonstration plots, engaging farmers for the distribution of FMCG or jobs at Choupal Saagar stores, many of them are stationed in villages or small towns,” says S Sivakumar, CEO — Agri Businesses, ITC Limited. Unilever has a Project Shakti, which markets FMCG products to rural consumers and is planning to start working on a new project by hiring freshers, to connect well to them. Micro insurance as a concept is also appealing the insurance and financial services sector. Awareness has seeped into the bottom of social pyramid leading to concerns on human and livestock health. The idea of insurance is fast catching up. “We are planning to start hiring graduates to track the rural market and create a potential,” says Prerana Langa, vice president, strategy, ICICI foundation. “The project is still on role and we have tied up with an NGO for the same.”
Many companies are tying up with NGOs, who are active in rural sphere to help set up base in these areas. Mitra for instance, is one such NGO which is helping the corporates to map the potential of rural markets. Says Rahul Nainwal, co-founder, Mitra “The rural India is going to be the next big middle class and corporates wish to address this market. Although, this market had caught their attention, sometime back. But now is the right time to deploy people there and give back to the society.” The rural areas and smaller towns present vast opportunities for most companies, who are trying to come to terms with a relatively slower growth rate this fiscal.
Thwarting Terror Attacks in Reality
By M H Ahssan
What happened in Mumbai on November 26 will always remain etched in the minds of every Indian. The terrorists' attack on iconic buildings and elsewhere has definitely raised the issue of security aspect of high-rise buildings, both commercial and residential, in our country. The gory images of those three days when India was put to ransom are terrible to say the least. With these attacks, those associated with the security aspects feel that it is time the security of buildings, irrespective of their nature, is reviewed thoroughly.
An expert on security matters and chairman of the SIS Security agency R K Sinha says that it is a wake up call for all of us.As we are living in potentially dangerous times, we have to give enough attention to security aspect of our buildings and big houses too.Sinha is of the opinion that buildings must have fullfledged security measures - CCTVs, doorframe and handheld metal detectors. "Many buildings have formed quick reaction teams (QRTs) on every floor. Every hour, there should be thorough checking of buildings, including toilets and dustbins, and random checking of visitors. The activities in car parking should be closely monitored. Naturally, such a tight security arrangement can make buildings far safer," says Sinha.
SVP Group director Sunil Jindal says that as terrorists' strikes are becoming extremely regular in our country, they can't ignore the importance of security of buildings. "What happened in both Oberoi and Taj hotels is a clear-cut case of security lapse. And, such incidents can happen anywhere, unless we wake up - sooner rather than later," Says Jindal.
Talking about the buildings they have constructed and the security measures they have taken for them, Jindal says: "We have made fool-proof arrangement in our buildings so that such incident can be avoided. We have put CCTV cameras on every floor, in order to monitor the movement within and outside the building,and also on its periphery. It also helps in alerting the security manager, in case of violation of preset norms. As this is not always adequate, we have installed office automation systems like the UPS, EPABX and the public address system in our buildings. The public address system is also used in case of fire, to facilitate faster evacuation."
CMD of real estate advisory, Century 21 India, Dr Devender Gupta says that after the recent spate of bomb blasts in Delhi,those who look for either office space or flats, start enquiring very closely regarding the security arrangements in the buildings. "Earlier, people used to ask only about firefighting measures. But, queries on security aspects are a new trend. It was not there earlier," says Gupta.
Experts say that as independent houses in posh areas are dwindling very fast and builders are making floors there, one cannot live there without guards. On any visit to a posh colony in the capital, one will find security guards dealing with visitors, from courier boy to plumbers, and other such people, apart from guarding their posts. They also park the car for you when you return from work at night and cannot find even an inch to park your costly car.
Till recently, security agencies used to supply trained guards only to diplomats, big-time businessmen and toplevel executives of companies.As terrorist activities see a spurt, security agencies also supply their trained guards to all those who deal in huge cash like jewellers and grain merchants. Guards provide security to them both at offices and their houses.
Pawanjit Ahluwalia of Premiershield Risk Management services says that as families started disintegrating and whole society became very money-minded, incidents of robbery and killings are on the rise.The worst hit are old people. Due to all these factors, rich and famous people have started engaging trained guards. Security agencies are also providing even those guards who can work like companions to their masters - playing chess, going out for a walk.Moreover, the guards can also drive and give an insulin injection as and when required. "But, we tell clients in no uncertain terms that they should not send these guards for their bank-related work like checking the balance position or bringing cash from there," discloses Ahluwalia.
The last word came from Sanjeev Shrivastava of Assotech Group on the changed scenario. According to him, the world of realty will change according to needs of the times: "As threat to security is definitely there, not only from terrorists but also from enemies within,those who give 100% to security of their buildings, will score over others."
What happened in Mumbai on November 26 will always remain etched in the minds of every Indian. The terrorists' attack on iconic buildings and elsewhere has definitely raised the issue of security aspect of high-rise buildings, both commercial and residential, in our country. The gory images of those three days when India was put to ransom are terrible to say the least. With these attacks, those associated with the security aspects feel that it is time the security of buildings, irrespective of their nature, is reviewed thoroughly.
An expert on security matters and chairman of the SIS Security agency R K Sinha says that it is a wake up call for all of us.As we are living in potentially dangerous times, we have to give enough attention to security aspect of our buildings and big houses too.Sinha is of the opinion that buildings must have fullfledged security measures - CCTVs, doorframe and handheld metal detectors. "Many buildings have formed quick reaction teams (QRTs) on every floor. Every hour, there should be thorough checking of buildings, including toilets and dustbins, and random checking of visitors. The activities in car parking should be closely monitored. Naturally, such a tight security arrangement can make buildings far safer," says Sinha.
SVP Group director Sunil Jindal says that as terrorists' strikes are becoming extremely regular in our country, they can't ignore the importance of security of buildings. "What happened in both Oberoi and Taj hotels is a clear-cut case of security lapse. And, such incidents can happen anywhere, unless we wake up - sooner rather than later," Says Jindal.
Talking about the buildings they have constructed and the security measures they have taken for them, Jindal says: "We have made fool-proof arrangement in our buildings so that such incident can be avoided. We have put CCTV cameras on every floor, in order to monitor the movement within and outside the building,and also on its periphery. It also helps in alerting the security manager, in case of violation of preset norms. As this is not always adequate, we have installed office automation systems like the UPS, EPABX and the public address system in our buildings. The public address system is also used in case of fire, to facilitate faster evacuation."
CMD of real estate advisory, Century 21 India, Dr Devender Gupta says that after the recent spate of bomb blasts in Delhi,those who look for either office space or flats, start enquiring very closely regarding the security arrangements in the buildings. "Earlier, people used to ask only about firefighting measures. But, queries on security aspects are a new trend. It was not there earlier," says Gupta.
Experts say that as independent houses in posh areas are dwindling very fast and builders are making floors there, one cannot live there without guards. On any visit to a posh colony in the capital, one will find security guards dealing with visitors, from courier boy to plumbers, and other such people, apart from guarding their posts. They also park the car for you when you return from work at night and cannot find even an inch to park your costly car.
Till recently, security agencies used to supply trained guards only to diplomats, big-time businessmen and toplevel executives of companies.As terrorist activities see a spurt, security agencies also supply their trained guards to all those who deal in huge cash like jewellers and grain merchants. Guards provide security to them both at offices and their houses.
Pawanjit Ahluwalia of Premiershield Risk Management services says that as families started disintegrating and whole society became very money-minded, incidents of robbery and killings are on the rise.The worst hit are old people. Due to all these factors, rich and famous people have started engaging trained guards. Security agencies are also providing even those guards who can work like companions to their masters - playing chess, going out for a walk.Moreover, the guards can also drive and give an insulin injection as and when required. "But, we tell clients in no uncertain terms that they should not send these guards for their bank-related work like checking the balance position or bringing cash from there," discloses Ahluwalia.
The last word came from Sanjeev Shrivastava of Assotech Group on the changed scenario. According to him, the world of realty will change according to needs of the times: "As threat to security is definitely there, not only from terrorists but also from enemies within,those who give 100% to security of their buildings, will score over others."
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