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Software-led BPO strategy: Innovation Group

Published by: Ovum Plc

Published: Sep. 29, 2009 - 18 Pages


Table of Contents


EXECUTIVE SUMMARY
The Ovum view
Key messages
BPO growth investments hinder early benefits
Software and BPO strengthens business model
Diversification benefits BPO businesses
Offshore BPO services would improve margins
The history of Innovation Group
Insurance industry ‘solutions’
Drivers for BPO expansion
Stabilise, grow and retain
Financial stability
Steadying revenues and profits
The software versus BPO trade-off
Strategic supplier role
Innovation Group’s BPO strategy
Acquisitive transition to BPO
The repair claims service platform
Combining IT and BPO
Ability to define the rules engine
Potential for outcome-based pricing
Technology expertise supporting BPO value-add
Strategic effectiveness
Overview
Financial performance
Share performance
Competitive positioning
List of Tables
Table 1: Significant events in Innovation Group’s business development
Table 2: Table 2 Innovation Group revenue and profit performance, 2000 to 1H09
Table 3: Performance comparison of BPO providers, 2008
List of Figures
Figure 1: Software versus BPO: the revenue and profit trade-off
Figure 2: Innovation Group’s revenue mix, 2001 to 2008
Figure 3: Innovation Group operating profit margin comparison

Abstract

The last decade has seen a concerted drive by many IT companies into the business process outsourcing (BPO) market. The large global players have made the most noise around BPO, from hardware and services providers such as IBM and HP through consulting and services companies such as Accenture, ACS and Capgemini to software companies such as SAP and Oracle. These players have made significant investments in building BPO-focused businesses, but this trend does not affect only the top end of the market. Across the US and Europe, many small and medium-sized software and services companies, such as NorthgateArinso, HR Access and BancTec, are also driving further into the BPO market on the back of their IT capabilities.

Innovation Group is a UK-based provider of outsourced claims management software and BPO services. Although smaller than most global BPO vendors, it is notable due to its rapid transformation from a software company into a BPO services provider over the past six years. This report analyses the drivers for Innovation Group’s move into the BPO market, documenting its transformation, highlighting the challenges it has and will continue to face, and assessing its potential for long-term success as it pursues its IT-led BPO strategy.

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