EXL Launches New Solutions to Enhance Efficiencies and Control Costs

Proprietary offerings to address process management issues including those related to claims process optimization, accelerated process improvement, application fraud detection and compliance testing optimization

Sep 23, 2010, 16:55 ET from ExlService Holdings, Inc.

NEW YORK, Sept. 23 /PRNewswire/ -- ExlService Holdings, Inc. (Nasdaq: EXLS), a leading provider of outsourcing and transformation services, today announced four new solutions designed to continue helping clients transform their processes to maintain a competitive edge. The solutions announced today build on the transformation product solutions introduced earlier this year.

"For over a decade EXL has been providing transformation services to companies in multiple industries.  These services address industry specific process management challenges that hamper efficiencies," said Bill Bloom, Executive Vice President, Global Client Services. "The solutions we are introducing today are designed to provide customers with greater control over their business processes, allowing for reduced costs, improved performance and a more nimble and strategic approach to managing critical enterprise operational procedures."

The new proprietary transformation solutions from EXL are:

  • Claims Process Optimization- EXL's Claims Process Optimization automates the claims process. By integrating comprehensive customer journey maps with the claims process, insurance providers are able to gain a better understanding of their customers' needs, enabling increased efficiency, a more customized approach to service and ultimately a positive end user experience. EXL successfully deployed Claims Process Optimization at one of the leading global insurance firms to improve case handling and customer satisfaction. Full Time Equivalent requirements were reduced by 100, customer retention rates increased by 15 percent and the client realized $4 million in annualized benefits from EXL's solutions.
  • Rapid Integrated Transformation Execution (RITE) - Rapid Integrated Transformation Execution (RITE) methodology leverages the principles of Lean Six Sigma in conjunction with EXL's extensive transformation experience to accelerate process improvement and maximize ROI.
  • Application Fraud Detection - Application Fraud Detection enables frequent and timely detection of fraud in an instant credit environment. EXL's approach leverages in-house domain expertise in comprehensive data harvesting and advanced fraud modeling to enable cost-effective fraud investigations. Our clients can benefit from analytical tools that maximize fraud detection and drive improved loss prevention while optimizing referral rates for manually intensive investigation processes. EXL successfully deployed Application Fraud Detection at one of the leading U.S. card issuers and identified opportunities to improve fraud detection by over 50 percent and resulted in approximately $12 million in gross fraud savings.
  • Compliance Testing Optimization – Compliance Testing Optimization equips compliance and risk officers with proprietary and comprehensive methodologies, advanced data analytics and process management capabilities to reduce the cost of compliance while enforcing robust and effective compliance measures. The compliance operations optimization improves underlying controls, people productivity and enables ongoing performance tracking. To date EXL has enabled clients to achieve substantial benefits including a reduction in the number of tested controls by up to 20 percent, a decrease in compliance testing costs of up to 40 percent and improved compliance reliability by minimizing external audit review efforts by up to 45 percent.

Please contact solutions@exlservice.com if you have any inquiries about these solutions.

About ExlService Holdings, Inc.

ExlService Holdings, Inc. (NASDAQ: EXLS) is a leading provider of outsourcing and transformation services. EXL's outsourcing services include a full spectrum of business process outsourcing services from offshore delivery centers requiring ongoing process management skills. Transformation services enable continuous improvement of client processes by bringing together EXL's capabilities in decision analytics, risk and financial management and operations and process excellence services. Headquartered in New York, EXL primarily serves the needs of Global 1000 companies in the insurance, utilities, banking and financial services, transportation and logistics, and travel sectors. Find additional information about EXL at www.exlservice.com.

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 the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements include information concerning the Company'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 the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company'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 are discussed in more detail in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009. 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 the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

SOURCE ExlService Holdings, Inc.