Service Provider Spotlight - Polaris Software Lab
The landscape of potential outsourcing suppliers has evolved rapidly over the last few years significantly increasing the number of credible supplier options available in the market today. As the requirements from sourcing programs become fairly complex and requirements become specialized, service providers with niche capabilities are increasingly making their presence felt. These niche service providers can be specialists in a function (e.g., analytics), an industry (e.g., retail), a region (e.g., Latin America) or even a technology (e.g., Lawson). Everest Group’s Service Provider Spotlight showcases such select niche service providers that have differentiated and distinctive capabilities that buyers of sourcing services must make note of.
Polaris Software – Mid-Sized Banking IT Services Specialist
The BFSI (banking, financial services, and insurance) industry has traditionally been the largest adopter of global sourcing and is considered a pioneer in the globalization of services. Given the complexities of the regulatory environment, modernization of legacy applications, and post-merger integration, financial institutions are more aggressively leveraging offshore outsourcing as they seek to focus on their agendas of growth and innovation.
As a result, the service provider landscape is evolving. While the global majors and Tier-1 Indian majors are well established in the BFSI vertical, select Tier-2 Indian service providers (typically in the range of US$100 million to US$1 billion) are also increasingly looking at garnering the growing share of the market by creating differentiated value proposition for buyers.
This Spotlight document examines the distinctive capabilities of Polaris Software Lab, a mid-sized Indian IT services provider that has successfully differentiated itself by building deep vertical expertise in the BFSI segment. Since its inception in 1993 with Citibank as the only client, Polaris has established itself as a “specialist” in the BFSI vertical, with particular strength in the banking sub-vertical.
To learn more about Polaris Software Lab and its capabilities, please read the full Service Provider Spotlight by clicking the download button in the upper right corner.
