EXLS - Earnings call transcript Q3 2021 | ExlService Holdings, Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to Q3 2021 ExlService Holdings, Inc. Earnings Conference Call. [Operator Instructions] I would like to turn the conference over to your host, Mr. Steven Barlow. Please go ahead, sir.

Steve Barlow

you. Thank Grace. thanks call. EXLs and financial quarter for conference results everyone morning, third joining XXXX Good Barlow, Vice Steve I'm EXL's Relations. President of Investor With our Chief in offices Officer. our Chief in are Financial Officer; today Executive Nicolelli, Kapoor, and Vice New Maurizio and Rohit Chairman me York our release the share you've hope press a $XXX million earnings release authorization. opportunity this morning our QX to announcing We issued review as repurchase an XXXX had we well as new section Relations EXLs fact sheet in also website. We've our Investor updated investor the of

As mind or matters actual and such include statements. call cause press this and and reports you but implied by in to we'll discuss uncertainties other are with forth economic forward-looking. are risks some conference company's general of no presented expressed could know, to periodic the obligation the forward-looking results call. Securities subject update to, in to Commission not factors filed the Please that are unknown and on to risks conditions, that this set keep those Such information statements differ and time. EXL limited Exchange release, documents in materially known from assumes uncertainties those these in time discussed today's the from

found Kapoor, fact the may over call EXL's our our for on believe be now provide to press Rohit financial investors. measures as reference useful release I'll Officer. well investor Reconciliation today, During in Chief call measures, turn we can to GAAP information non-GAAP as certain which we sheet. of Executive the these

Rohit Kapoor

adjusted healthy. delighted in than achieved hope call. quarter. outstanding are quarter morning, to of and Thank families report EPS. the on our better earnings I'm to another and your and Good third revenue quarter results you, Steve. safe you third expected I everyone. Welcome EXL XXXX

per increase quarter on was Adjusted a revenue $X.XX for which and constant the EPS million, increase was both currency a QX XX.X% sequential share. a $XXX.X represents X.X% year-over-year basis. Our

for increased $XXX.X by post-pandemic with We million and in of have analytics of XX.X% driven in consistent revenue reported business demand analytics-driven growing expertise foresee year-over-year. growth for sequentially our solutions. demand Consistent the half significantly in first year, the Analytics Our data healthy X.X% continued environment. the

growth a in Operations is XX.X% quarter, year-over-year, Management our insurance in solutions wins X.X% $XXX.X primarily this suite revenues in million achieved quarter-over-quarter emerging revenue, up from generating of also business driven which by new higher and Our business. our and

revenue Our quarter been growth this has broad-based.

of win for and strong capabilities. with market to solutions secure continued that have maintain across continuing our with We by confident being core in wins. position a We strong verticals large digital pipeline differentiators. trend and feel strategic industry and deals we continuing to our surging will analytics see We this analytics demand digital the all our

how seamless market, the This to a easy segment some what approvals showcase merchant. much business, strengths. our I the have Analytics the creates for retail smoother institution, credit perspective. and customer and for of a Real-time allows experience. the point due significant or the the the format is of The value it popularity purchase is and customer, lending customer industries. from in at solutions Now bank seeing straight, on become financing Later recent few through on our of in insights unique like point-of-sale banking Starting Buy our Pay are share rapidly to we a Going would the engagements growing that with

we solutions drive purchase integrating into directly able On order higher journey, are conversion higher the side the value. a financing merchant by to and

provide to two no real the reasons It Now enabling implemented for largest prevention, wallet the expand credit allows States. information Later about Services are fraud held share real an the customers, pre-approvals, financing directly workflow. Pay new United and On instantaneous customer to enabling in in of for National bridged and a comprehensive privately decision the unique We Omaha, banks is of customers, existing attract Bank credit analytics, Merchant solution we create first customer with an subsidiary a support with First side, bank merchants Buy efficient into - time developed process. it the

it is our and the capability as scalable. live submission Second, we retail of just with the can months. box highly deployed partners Working across in that the First National the modules. Bank environment In a in solution in Omaha, together launched four developed was be of rapidly built case

good business and proactively solutions with traditional for prevent regulatory innovative leading base our solution see helping payment digital claims partnered this breaches. clients a identify architecture Given forward. banking, Australian are retail our Similarly, on proprietary functions. going AI:OS traction EXL deep leakages to client re-imagine built we our insurer and

has audio reviews of powered solution claims AI smart and the the odd helped XXX% accuracy insurer the workflows which of improve automate have Our streamlined processing. claims

is issues are data over smart Additionally, identify our highly making to changes expands previous By lifecycle more to market. have compliance able XX also within the than our the been addressable powerful audit algorithms, claims solution other industries. algorithms solution This address to benchmarks. The now tracking scalable. we across simple of prevent leakage audit times to our

payer For improve the member solution to example, healthcare alpha different is accuracy in languages. communications across XXX multiple using a and major compliance

within leveraged Components to Additionally, payments. audit manufacturer smart identify vendor leakages a their leading of Electrical XX%

Integrity seeing Solutions. also for demand Payment are strong We our

the of represent examples to and cloud. for event AI extensive alignment of a a initially top this say engagement contract Payment Integrity theme business. analytics, The with forward multi-year Payment our our growth significant complex health on step our XX Services services us a focuses our plan. solutions. national With strong data it's these several common Let deployed The use as recent all of strategy, components hospital evident is in audit across

significant data platform needs business on down focus has agendas. As your In order new on drive critical intelligent and communicate workflows. September. to volumes greater It also to critical role the create real forward. their insights efficiency. in focus for operations enabling our to decision our This brand opportunities data making the a better grown our With in streamline growth make proposition, new plays evolved, doubled data become our that unlock and Anchored more has data central trends, companies to more customer and role sense time in and solutions in deliver of have predict on delivering trajectory driving hyper-personalized important we've experiences launched a making and of AI focus better advanced challenges, sense and content baseline drive biggest we analytics and in value client promise, The evolution digital AI most This accurately To realize analytics we based solutions, our emphasizes today. conversational capabilities reflects clients' been brand clients' address growth solutions and in marketplace. investments to extraction, making digital operations our and analytics. and play the brand our business businesses strategic noteworthy the cloud-based well of the analytics more positions we our us of we of is are growth.

will and As the their as to future, the health families keep we priority. look of our continue our we to top employees and safety

We least vaccine. for our last quarter. have geographies our across at employees employees of progress of dose have vaccination have and received the Currently, globally our one conducted seen XX% over the

rates will such vaccines Africa, Philippines and As continue vaccination enable amongst geographies South safer the for our more in greater environment. as readily to workforce a we work become push ahead available and

optimal maximize model, on of We environment our which employees. maintaining focuses deliver to an for and have distributed operating workforce also resilience working built a our future work our

As seen flexibility several we've a from home and past for has over work model employees the months, our hybrid of great the alike. been clients

help elevated a our acquisition very drive in EXL was joined have forward. our inductors made has roles Kini our have and I'm XXXX. to emerging as and Ankor Kini, since for new XXXX committee. part as am a evolve in are of share continued analytics of leadership leader veteran conscious our committee. I held Chief XX-year Ankor of executive of aspirations. and to achieving leadership grow cultivate is our Ankor we will years. senior of Kini meeting of to and brand business part play both of several company, a in that we pivotal pleased growth our co-head As now EXL Officer of and confident joining the roles who bench that numerous a promise Digital and executive we two will our leaders strong leaders our effort have of business to Narashima Rai, the

digital. space Going pipeline shaping of our to EXL. In forward, conclusion, resonating year well Operations of a in digital healthy the clients, the large is be are strong in a Management, transformation market. up deals remains fully Similarly, becoming agendas within great and pipeline as with analytics XXXX strategic and digital make to our capabilities more our for to see continue we pivots

and grow We our have business clients. our stronger form with to verticals partnerships been our able across

one resilience the our confident guidance. of AI financial changing in analytics, and model difficulty] We people using and saw our a our of unique have most fast and invite clients generosity I'm cloud to QX and and XXXX business commitment performance Maurizio the the problems. [technical solutions extremely now I environment. and and Nicolelli data created will complex support to proud of the that our business highlight another in

Maurizio Nicolelli

into Thank you, performance third Rohit, and for our updated for this our morning. quarter XXXX joining the will provide of outlook financial I by us XXXX. followed thanks insights everyone for

numbers from was Revenue segments management we with quarter mentioned billion, per year-over-year operation revenue million, defined from are outstanding our year-over-year All while reportable second up X.X%. excluding the XXX.X a mentioned, adjusted business a quarter Rohit basis. up XX.X% as share sequentially As revenue of up had three was growth constant Analytics was XX.X% currency on XXX.X earnings hereafter an a by revenue $X.XX.

consisting Insurance client up X.X% of year-over-year offset insurance, revenue revenue XXXX volumes. up generated of the businesses This Emerging existing higher lower client in to in the businesses of due XX.X% Compared Analytics to businesses The in and This consisting and revenue and travel million and segment XX% million, to The embraced the of a XX, Healthcare of banking operations revenue revenue was XX.X% transportation volumes XXXX. in grew by quarter and year-over-year. in and relationships XXXX reported insurance up wins driven XX.X% of by banking up year-over-year. analytics existing second management emerging $XXX.X clients cloud consisting in year-over-year. of management Analytics, emerging driven emerging totaled and XXXX, by million, was XXXX revenue advanced grew analytics client to X.X%. by in second wins growth and services client. $XX.X total of client a The revenue was vertical existing healthcare the Our in XX.X data expansion up transitioning new XX.X% new and year-over-year. in quarter XX.X% relationships million, in as management grew industry the reported was X.X%. across year-over-year particularly grew financial services XX.X% expansion new expansion clinical X% side operations third quarter relationships, $XX Analytics third analytics Sequentially, X.X%. and driven AI of utilities. client year-over-year. services, operations, led and higher up vertical with solutions. growth all Compared of revenue verticals Healthcare quarter by was in XXXX, XXXX vertical driven volumes financial compared our

down Moving the income statement.

total and XX.X% of Our development, COVID-related in year-over-year driven our end compensation capability expenses of higher employees. basis of revenue health SG&A for front points investments and by safety sales, expenses marketing, XXX were

XX.X% points expenses. partially by from quarter higher operating the driven and operating of margin offset for revenue was year-over-year adjusted XX higher by basis leverage SG&A Our

quarter basis XXX of up was from points margin second XXXX. operating the adjusted Our

Our adjusted reported $X.XX on quarter XX% a EPS of year-over-year basis. the dollar for was

X-month performance. our to moving Now

up was with and across up Analytics broad-based of $XXX.X revenue operations management XX.X% XX.X%. Our year-over-year. was X.X% growth segments This million, our all

of $X.XX, flow operations million nine remain EXLs basis quarters high Our the year-to-date year, with to basis. In operating liquidity, to XX.X%, prior $XXX.X strong an cash we flexibility driven of operations. cash the XXXX year, withholding from the payments. continues strong for on period flow first up first year. XX.X% balance million on receivables and over the generated focus of a and three Adjusted increase a the adjusted is XXX year-over-year same $XXX.X sheet points from by EPS margin tax compared is reported and of last in income incremental months

bank our cash cash Our million million, was a of for investments net short-term at million. XXth $XXX while and September was $XXX position $XX debt

common in X.X% an XXX,XXX notes million quarter, stock. in we million our aggregate of cash, During senior the due value $XXXX and convertible $XXX third with of XXXX and approximately shares settled

We to our and in for are solutions has invest capital sufficient flow cloud generating significant and share program. acquisitions cash digital repurchase and new

of XXX,XXX During X share, totaling the average XXXX, $XX per at of $XX.X. price an we first quarters repurchased shares

a repurchase announced we authorization January new In XXXX. for effective addition X, today, $XXX million

bottom on to Now into turning guidance both strong visibility guidance, increased fourth XXXX the performance and for and have year-to-date quarter. our based line top we

Our remainder our models is work year. remotely of based working flexible of XX% current guidance employees the more on with our than for the

XXXX We represents a reported $X.XX guidance XX% constant a revenue our million $XX expect range currency XXXX, to XX% on a up rate of the and to are increasing be In the billion, range the to grow on at we XX% for mid and billion midpoint. management growth XX% $X.XX year-over-year Analytics XX%. in operations to of approximately grow This basis to XX% in to basis.

the as due ops volumes the to mentioned lower QX expect including comparable For to we revenue earlier. fourth quarter, be care health to in management

in $X.XX up decline expenses, EPS technology revenue in XXXX. higher investments future to compensation expect QX in sales adjusted We QX be hiring areas. expected to due driven EPS to for increased the from advanced growth, marketing higher in Adjusted in to to and select $X.XX is and by XX% XX% of our increased range

We XX% of expect to rate in $X.X of and to range XX%. gain million effective to $X a expense interest million our foreign be $X and tax $X million, exchange net the between

technology. capital we continue and digital invest of AI, terms to allocation, in analytics, In solutions

capital and been to million. expect by over strong adjusted revenue be We the $XX conclusion, have In expenditures EPS, quarters double-digit growth range first XX% the a XX.X% to of with XXXX. three of in increasing $XX

on and and challenges variable is attributable keen outstanding focus which strong driven despite pandemic success the demand higher. services, by Our fixed has a for costs margins to our delivery faced

margin and We year expect across at to be sustainable momentum XXXX, our looking a gains segments solid revenue our business a strong to we we and the finish much working have with model. all expect hybrid of

Now, take happy Rohit be your and I questions. to will

Operator

Maggie first Nolan Instructions] comes William Blair. line question the of [Operator Your from from

is line open. Your

Maggie Nolan

are little results. the bit the of of the your a that maybe about performance medium-term wanted within segment more for I into Ops what on Could Congrats expectations go to Management. ask Healthcare you segment? kind

Rohit Kapoor

From Yes, where unusual segment. on going work. be we the thanks. in-sourcing Maggie, time is clients there transition take might to Healthcare that a place have time, they of nothing the might of in do

fundamentally of the Healthcare very have is is in situation So, we particular a business Ops It sound. nicely. Management growing

book now digital the other as We strong interventions much seeing started but will fairly the data provider traction in way also the a embraces are comprehensive amongst we've serve payers, adopts active is to healthcare amongst providers solutions, more a and digital group where driven part end-to-end transformation.

headroom be we While other compared in really, serve the that model, operating industry therefore it's to And solutions business potential and model, we a think terms large to clients adoption we our vertical really healthcare very able of the - well. market Keep grow capabilities can that to in excited of in something the technologies bit about space behind where to the we much large that mind is the of so will plans pretty in which clients recession-proof, us therefore continue is is our industry be new of us vertical. as sell verticals and are serve little is really helpful. industry that think and are itself and the able for for and to course to be in industry it some The a huge.

Maggie Nolan

above target XX% low some margin a seen the even XX% of structural margin. if target kind above like do kind or at margin at of Obviously, this do adjusted operate operating And And - think to that profile margins, you point. an at or gross easy you kind can is of you that pickup company. then the you've the about it of thinking in continue

Maurizio Nicolelli

the - for - Day When look and at when between went XX% Thanks, XXXX, forward. permanent, we back we've year this in in working Maggie we November look but done that of Investor margins made building model margins in we're improvement we some with really to XXXX. about well question. that is all XX% remote significant going margins This it, very we've hybrid talked

pretty becoming that's lower and If headcount XX significantly last year-over-year efficient. the than months, just look at our us revenue it our on growth, you basis over more much a is

So embedded benefit margins there going our forward. in is

trending back at that forward. of end - higher guidance Investor the that we that towards So with going we're guidance gave in really Day,

Operator

from have Bergin Next we Bryan Cowen.

is open. line Your

Bryan Bergin

into Thank follow going of you the wanted question, even now? lasting seems it you. get reason, margin to term? seems travel there on to gross end Maurizio, my is like continue just in costs high to any there for year, because you I frame the coming part right up just you've are good to some significant next this Just here. outperform got you're like It that easily back have the said, this in trying of tailwind XX% early changes short

Maurizio Nicolelli

Hi, Brian.

So is return in at start will we will a that P&L, additional higher we our in when above end we of work on towards drive more, that updated the those this think about start year. and office you solid little really think we're in that of and from going and given cost a now, but in we've in And and that XXXX. in. trending Day the in guidance but were But very Investor end are office also that. margins working trending Having the to right the really will pre-pandemic the And also that calendar level from be correct. forward. of upcoming some going are we of said all we're from cost - from XXXX growth that of employees have home, forward environment for into all we and of the that, our start the update have to portion back will likely back to to going hiring in February of going bit travel won't margins correct, it also higher we to guidance XXXX - now, go XXXX some XXXX. likely most right most still coming We'll you towards February new that momentum We we'll

Bryan Bergin

expansions a there? And or all that. comment Is can local sub-segments then in just at the more that? or - within emerging new is you existing appreciate broad-based I within Can a clients the more recovery Okay, you across segment you that varying dig additions there? bit on the just Management. it Ops can it also is is And travel

Rohit Kapoor

Sure, Bryan.

broad growth of is industry Travel across services actually smaller. a has are and The segment for small because our business Our and across emerging based very financial has portion and size is well. has What logistics improved little a certainly in is tremendous has the and revenue that of much verticals. seen emerging but segment banking like improvement and travel it certainly increased, very impact us within and the seeing utilities we verticals amount as transportation our

existing with emerging. the new signing In clients, clients expansion same but the terms of in really time at us, a new we're the up scope expanding clients pleased and of of existing we're number really, clients, work with our

frankly, business confidence a very as it's we're great 'XX. into step So emerging healthy broad-based provides in the us that seeing that and we growth

Operator

Baird. have Next Koning David up, we from

Your open, line sir. is

David Koning

of - QX a all or kind sequential look guess $X of Normally, just, when sequentially, million lot take. I that's sequentially. $X give of at up down think to first up flattish - up I guidance I kind

in that a a in off QX talked QX of kind little a falls bit, was bit thanks. something little inflated You there

Rohit Kapoor

thanks comments. Hi, for your

we remarks, client about kind the because spoke QX of segment. to flattish his in be Healthcare Maurizio expect in prepared to QX, that of As the shared we

got - analytics We there operations terms which and continues momentum something, anticipating. in we've likely forward. but in But of revenues. in management growth that's unusual is are is strong nothing that so both and think our something, And which going we QX

we is However, that taking what our will in because of are this there an be client transition place, and offset guidance. factoring that's

David Koning

that some talked Analytics mean you're is any continued work. is level or grow - post-pandemic and there of kind of I faster then non-recurring or there at is business than back how something of about mid-teens? or And it's this on, some and this to in higher like, just pace come the mean it there elevated a this growing does the I you at It's in is kind coming really to just way segment. normal does

Rohit Kapoor

Sure.

think is about certainly and said don't we as So data, data you're - you Analytics which our and which growth some share - our always on third be project-based. its data But that rich think clients that discretionary on also gear with are to that very, know on revenue demand focus project Analytics sets of third very confident there the develop time, well is will Analytics us We we of very very to The behalf and we of focus that into as which environment marketplace. associated in resonating Investor pandemic But of about ready the shifted in the absolutely November we subject very, has confident. that the the annuity that. Maurizio attractive has capability we XXXX the At carry level I nicely. our will above and high is right. emphasis has business with business we a forward. is Two-thirds able feel the business embrace and business very our therefore for is based therefore continue help is on become always decisions analytics revenue our going drop in great a streams, up base to which business step something the are ends we going to always data to between of mediocrity, it's be being clients data should project-based position volatility is that Day the of are differentiator to know going continue there. and to and in going success down, We to continue think be the them forward we our - that a be to think and strategy same

Operator

Colicchio Vincent from Next, up Research. Barrington have we

line Your is open.

Vincent Colicchio

retain I gotten quarter of think - using quarter equity any and curious talked to significantly some last about that that? I'm people you're curious inflation doing as you sure since worse last if Yes, wage

Rohit Kapoor

Yes, and business Vincent. but to able inflation we that altogether. across not inflation are is in risk Certainly, to is seeing few need that be areas the of wage we manage a What navigate. of is that business, a our particularly strong to wage entire

there So wage and higher are around analytics that. and of in level areas inflation is to we certainly - trying data digital manage

As in of Orange business, equity able retentive more employees. get organization, that's and which which strong does our a we greater that our to stock environment to really bigger where grow as our able to senior get - discussed the of value a the actively compensation, last careers as then a advance and quarter, is provide tool professional very focus be with in and manage top a component, our something capabilities, And piece participate retain us do retention to grow a to rich providing their able is right talent. and continues we their them more through and for to be you combination they a can remain learn, the be huge

is So is and competitive focusing I continuation in compensation employees our team and a areas those the holistic we we compensation, that to be provide really that that on think it's a work focusing perspective experience for on strategy, all the the work from sure a benefits where environment, making there. need itself, of our

So playing ratio. that's seems be to nicely something and that

Vincent Colicchio

if and give going remind terms reduction? estate on - forward us real that's you significant you've opportunity us a Could of what in footprint done the

Maurizio Nicolelli

the question. for Vincent Thanks,

to plans to all - have real going we we our should real and real XX have been of XXXX On our on started started have around review we in the in to side, last of reviewing footprint become We've say more forward, estate the world. estate efficient estate the real optimize budget. months estate I

as will at We're from on - start future to or remain work our it for work to to forward. environment going going incurred from real get estate, just we start - opportunity working But home going will look costs But to the finalization, potential again, We open hybrid model it up forward going starting an forward. we for forward. continue a opportunity is does us offices.

So you're that of little offset correct. but little be a a to take for of in bit bit an will XXXX us benefit

continue real XX so to as do and look at, next to We come the XX that months can over we and we'll leases up. estate optimize areas

Operator

[Operator from Jain the of question comes Instructions] line Your next JPMorgan. Puneet from

is open. Your line

Puneet Jain

up quarters. about supply for premium practice. you But my Thanks picks in and question talk talent and always analytics, environment has as EXL had your or are to to Analytics, resorting hire you to service and - increase in taking analytics to also service are internally needs good for you can training in demand? you able enough Rohit, that demand data also do demand people digital

Steve Barlow

Puneet. Thanks,

in decade a So in strong sufficiently top, the right investing as management recruitment from as terms part campus where for right is where far, last we we that least strategy program programs. attract able volume, the the and people very hire Analytics we well at been and in have we institutes a U.S., talent, One business as has have been talent the our to our investing are India, in analytics. we of have in two programs the strategy the from the in are sufficient of engineering are so well these brand mature, well now talent the as developed, recognition quality senior and named these on managing

is client to given of well believe the it's within size developing we strongest and our to and provide part very they that necessary advanced capabilities the EXL about talent. as work and growth. well, internal as use case analytics And in of and continues team program development that That program more engagements. second run therefore, the analytics internally very of on combination complex experience, employees our both Again continues work input take on grooming talent work scale providing get when a to The that more them we training which capabilities. talent is one we our to inputs which off have of something, really

adequate supply numbers time, that is at a definitely are for able data able attract, challenge, to to we this point of and be the but business. support So of to develop talent side of analytics retain people

perspective we we good you. about are talent So where from a feel got

Puneet Jain

you've can or healthcare that happens that there talked hit any clients I client not to - basis. in the mentioned And - time? sequential And could on all impact - know at you about back, unusual to it's QX chose there it for a reason be well that the expect perhaps you you in-source, next specific but go also was - this will they as year impact size of talked, subsequent

Rohit Kapoor

Puneet. No, There is there. nothing

from clients to and what's provide work will further it's able discussed quantitative and to that's It's settle far for anything don't something as So captive shift the transition beyond call sometimes not happening like detail their out separately very operation partner be of which us aspects just we go concerned. the that XXXX down is to significant the as expect we to on and really here. it,

Operator

have we from up David Grossman Stifel. Next,

Your open, line is sir.

David Grossman

ask that's provide about on guess I I the the could some new them. bookings. comment wanted year-over-year year-to-date color is to you thing on trending perhaps the qualitative basis bookings know on been first a disclose just quantify even or as how backlog - well? and But net I bookings - don't you or

Rohit Kapoor

Sure, David.

in very, demand up very Analytics. is it's the think for and I both So and Management strong in pipeline Operations strong us

very Looking at up Management the the Operations numbers, gone has pipeline meaningfully.

terms The than So XX% the over of two more it's or in has years pipeline than doubled about close size. Analytics gone last so. actually to more up

very which that's So well. something as strong is very,

deals. and which are much that sales I is large happening grow other and shortening is be the that is deal more able to helpful size cycle seems to be the rapidly, to to for us business the part sizes medium our that's something think

chunky very and we don't to significant. data bookings the perspective, So really From pertaining share bookings. that's any very again a

of to So to and it talk difficult pricing comes particularly transaction it, based our kind it's about based when pricing. outcome

All measure of the course provide any of kind very these off it's so that. delivering difficult for customer, are on that color the to of driven or output to

pipeline is across the strong is part other The vertical. the all

- emerging, very strong Healthcare, Insurance, and across So across. it's analytics broad-based

pipeline So very the the as of well. pleased are we quality with

David Grossman

Thank you.

of in but was whether view a ask I way, about structural a just I follow-up a the we're earlier, the should if how impact the benefits really, efficiencies Just and - benefits and could margins, that you is model how hybrid pretty different is those quickly you you how hybrid wondering feel question - this slightly be? it's will, the going work and may about work just historically industry and curious probably think pass-through, enduring question model I'm to asked and price the

Maurizio Nicolelli

protect are we costs - meeting at at look really it. related benefits. is terms on benefits real flip the that overall you've bit be to that's number talked of spending you estate office think to if security terms that of similar about working - from just from your to portion that we forward. other very you in work able few office. costs work a transportation on benefits, you're little home a different create of but got and the workforce of that in home, protected kinds can amount to technology from ensuring a we to is well money being cost there - comes in data going extent, your are we've there optimize in - And think security the environment significant going it costs side, a you the environment work also of look good costs of model, I Obviously, related, optimize to certain the from hybrid When a but can - of is that a as more When to optimize

really versus factoring XXXX. at been going to into we're we cost look do the trade and continue a of and forward forward, the little you have bit going going in so when that there investing technology in really So benefit we'll off there's

an a working. the benefits we're of from bit that that's environment new those to offset So

Rohit Kapoor

a Yes, Dave. more which sustainable back, from is is something see our something but have business efficiency, couple what and be that and is just that broad a disciplined deliberately on I'll to would a where done operational categories to said add perspective, - that a going operational manage were One manner. bit we we there little we forward. consciously And something, will that we that in believe put of we tighten years and up much had we three about margins significant you On think had signaled is efficiency. margins. movement would when Maurizio our

secular and The come work there really it will to to delivering puts to some takes fundamental. we more from around more margins as COVID with in we of to And that on and we should and second is work hope does where upon, data mix costs office of improve the but can 'XX, part business Maurizio is are there value perspective be probably the are those customers back perspective, articulated, sure that the I digital, other of around broad will delivering on more pertaining buckets around And the a like need value costs make working able our some to offset significant to contribution. our are from provides that's that we shift it greater mix. the think changes to longer-term home probably that execute in our around, basis we're and third but trend travel, that the we you would continue there. around the some the customer, a business analytics, are that's do we margin From that much and a more that that manner work particularly three

David Grossman

and on that we blended that analytics Should through is analytics. really mix. both or third as just mix OEM for business So about use the data a proxy point it

Rohit Kapoor

you lot take is think well structure. business, business the driven outcome embedded becomes doing margin changes see business a Analytics And infused of but as the being infused going that all I business, as so into that digital proxy, part more one as of Yes, the certainly work operations are our digitally is place most we're in a that and management.

Operator

today. Thank our Ladies for and for today's question you. last concludes joining. you That's call. Thank gentlemen, conference this all

disconnect. now may You

ExlService (EXLS) 2 Nov 212021 Q3 Earnings call transcript