Aditya Birla Minacs, more commonly know as Minacs, provides business and technology outsourcing. It is a subsidiary of the Aditya Birla Group and has headquarters in Bangalore and Ontario. The company has 20,000 employees operating from 36 centres in Canada, Germany, Hungary, India, Jamaica, Philippines, the UK and USA.
Acquisition driven early growth
Minacs was formed in 2007 with the merger of TransWorks, an Indian BPO company and Minacs, a Canadian CRM Services company. PSI Data Systems was integrated into Minacs in 2009 enabling the company to offer IT Services. In 2010 it acquired London-based Compass BPO giving the company a significant Finance and Accounting outsourcing capability. In the same year it acquired the Minnesota-based Bureau of Collection Recovery to add accounts receivables management and collections services to its portfolio.
In 2008 Deepak Patel was bought in as a CEO with the purpose of increasing revenue. At this time over 90% of Minacs’ revenue came from North America and almost 20% of that was from Banking, Finance and Insurance. The imperative to diversify was clear. Since then the company has acquired new customers in Manufacturing, Technology and Telecoms. The company has diversified further by venturing outside of traditional outsourcing and created a separate division – Minacs Marketing Solutions which offers its clients the full marketing mix from creative to technical.
An ambitious alliance
At the end of 2011 Minacs announced a new go-to-market alliance with Profit Solutions Group, a finance and accounting services provider that helps companies cope with various classifications of chargebacks and deductions and managing large scale receivables. This alliance aims to present both companies’ complementary strengths to their respective clients’ finance and accounting (F&A) operations. Minacs’ expects to introduce its client base to PSGI’s onsite expertise in improving chargeback recoveries/deduction processes and reducing dilution. PSGI expects to benefit from Minacs’ global end-to-end F&A and IT infrastructure management capabilities.
Offerings through blended shoring
Minacs today offers outsourcing in two areas:
- Enterprise Services – solutions in Finance & Accounting, Procurement and IT. Minacs works with its clients internal IT departments by offering Application Services, Product Engineering and Information Management; for clients that require it Minac’s can also support and help the IT department with IT Infrastructure Management.
- Customer Lifecycle Services – consisting of Marketing Solutions, Customer Acquisition, Customer Care and Receivables Management solutions.
In October 2011, the company launched a new delivery center in Fredericton, New Brunswick to serve its North American clients. Its hiring target was 150 customer advisors, 20% of whom with French/English bilingual skills.
The business model flux
Demand for IT and IT enabled business services are changing fast. In addition to pressure on enterprise IT by bring-your-own-device, mobility and cloud computing, services firms are trying to balance phasing out old conventional contracts while introducing more contemporary services. Minacs’ challenge is no different from hundreds of services companies and its experiments with alliances and blended shoring will be worth tracking.
Image credit: Frozen dewdrops by Brian Valentine