Raman Roy belongs to the league of Indian Chartered Accountants who has contributed significantly towards the economic growth of the country. Quite often regarded as the “Father of the Business Process Outsourcing Industry in India”, Raman is believed to have created more than 35,000 new jobs in India and has indirectly enabled the employment of over 700,000 people. It is primarily because of Raman Roy’s pioneering efforts, the BPO industry in India got established. He is presently holding the portfolio of Chairman cum Managing Director of his Delhi-based BPO company Quatrro Global Services.
Raman Roy studied Economics at Shri Ram College of Commerce, Delhi. After graduating in 1977, he started preparing for Chartered Accountancy exams. A few years later, he successfully qualified as a Chartered Accountant.
Early days in the BPO industry
Raman Roy’s association with the BPO industry started in the year 1983 when he joined the accounting and back office division of American Express in New Delhi, India. During that time, the company was involved in providing support to its Japan and Asia Pacific (JAPAC) operations from New Delhi, India.
In 1996, he left American Express and joined GECIS, the BPO division of General Electric. GE Capital International Services (GECIS), started by Pramod Bhasin, was a pilot project of running GE Capital’s back-office services operations from Gurgaon, India. Raman Roy’s well-marked strategies and leadership skills spearheaded the company’s growth in India.
By 1999, the business process outsourcing services growth for GECIS were few folds. It became a 10,000 employee organization. Also, GECIS expanded to 2 other Indian cities – Hyderabad and Bangalore. Furthermore, to scale up its outsourcing business services, GECIS started operations in different countries. Probably, very few of us know that the present day Genpact was earlier known as GECIS.
Setting up Spectramind to offer business process outsourcing services to the companies of the developed countries
After having spent almost 17 years in the business process outsourcing services industry, Raman Roy by then had immense amount of knowledge on the functioning of this industry. With the knowledge, he decided to use India’s huge talent pool in a more efficient way. In 2000, with the backing of Ashish Dhawan‘s Venture Capitalist Firm Chrysalis Capital, Raman Roy started Spectramind.
Spectramind proved to be a landmark in the business process outsourcing services industry in India. Being an early Indian entrant providing business process support services to foreign companies across different industries, Spectramind already had full potential to succeed. The differences in wages in the developed countries and India was huge and this cheap labor cost of India stood as a great advantage. Moreover, the country was full of talented brains. Many Fortune 50 and Fortune 100 firms wanted to utilize the intellectual capital of India. And, they were looking for third party companies in India who would meet their requirements. Spectramind started providing them with Business Process Outsourcing Services. The outsourcing of services helped the companies in cutting down their costs significantly. In some cases, they were even more than 50%.
Wipro acquiring Spectramind
The successful run of Spectramind continued. In 2002, Indian software major Wipro acquired Spectramind for a deal amount of USD 175 million. By then, Spectramind already had a significant workforce and was operating at different Indian cities. The acquisition helped Wipro offer integrated solutions for all BPO needs of its clients worldwide. Raman Roy continued as the Chairman of Wipro BPO until 2005.
Setting up Quatrro Global Services to meet the needs of mid-sized companies
After quiting from Wipro, Raman Roy started his second company Quatrro Global Services in 2005. Many senior officials of Wipro BPO joined him in his new venture. The objective was to fulfill the underserviced and unaddressed needs of the mid-market companies using an integrated platform based services.
While narrating his experience about the need of setting up Quatrro, Raman Roy once in an interview said, “The number of people in these mid-market companies was significantly more than in large companies. There was a bigger opportunity. And, that’s where we started our journey.”
Quatrro’s business process services was based on a completely different model. The customers of the company need not have to install or purchase softwares for a steep price from IT product companies. Quatrro does the purchases and creates processes around them that would meet their customer’s requirements. Quatrro’s customers would only pay an amount for processing the transactions. The model became a hit as it helped many mid-sized companies cut down their operating costs significantly for much less transaction charges.
Quatrro presently offers BPO and KPO services to organizations seeking higher operational effectiveness and lower operating costs.
Raman Roy, the man who started an entire BPO industry in India!
Raman Roy never in his dreams thought of starting a new company. And, he created two. Rather, we would say, he started an entire Business Process Outsourcing Services industry in India! As a teenager, he only aspired to get a good job in an MNC.
“I had seen a failed business in my family. Therefore, doing business was never an option. The only way to get an MNC job at that time was through contacts. Since, my father knew nobody, I decided to educate myself,” said Raman Roy.
If you feel this story can inspire others, then do share the inspiration by sharing this post.