Xchanging has announced it has expanded its presence in Southeast Asia, with a significant growth in headcount and a new regional hub office in Kuala Lumpur. This expansion reflects Xchanging’s continued commitment to invest in the Malaysian market whilst enhancing its services, and its collaborations between existing customers and partners.
The new office, strategically located at The Horizon in Bangsar South City, will enable the full complement of Xchanging’s services to be delivered from under one roof for the first time in Malaysia. The 8,000 square feet premises will house up to 150 employees, and features a client Xuber Demo Room designed to showcase Xchanging’s flagship insurance software.
The office has a low carbon footprint and offers high safety and security standards. It also has state-of-the-art technologies such as a fiber-optic backbone and fast broadband speeds. These will improve services for a variety of departments including Finance and Accounts, Insurance and Human Resources, driving improved efficiencies for the company’s outsourcing teams.
Xchanging has more than doubled its regional headcount in the last two years, up from 187 in January 2011 to 450 now. Staff numbers in Malaysia alone have increased almost eight-fold. This growth supports new offerings in software, business processing services and cloud solutions, as well as two recently launched product offerings, Netsett (the global reinsurance and accounting net settlement service) and Vault (the technology-enabled procurement platform).
Approximately 30% of Xchanging’s senior executive team in the region are recent hires from diverse backgrounds.
“Our growing employee base and new office opening mirrors Xchanging’s commitment to our customers and partners in Malaysia as we expand in tandem with their growing business demands,” said Joe Poon, president, Asia Pacific, Xchanging. “Our customers will benefit from our regional hub office as we support them in aligning their processes to international standards, which is a key feature of Malaysia’s Economic Transformation Programme globalisation objectives. We’re very excited to be in The Horizon at Bangsar City South.”
Mladen Prpich, head of Xuber Malaysia, comments “We are delighted to inaugurate this new office in such a fantastic location, and in doing so expand Xuber’s global footprint yet further. The move underlines our commitment to the Asian market, a key driver of growth for our businesses. It is but the latest chapter in what has been a phenomenal few years of success for us in the region.”
Xchanging has a global headcount of over 8,000 employees. Xchanging Asia Pacific employs just over 4,000 staff in 18 offices, servicing around 250 clients, and has been growing its customer base in the recent years, fuelled by offshoring and expansion into Asia. Its footprint currently stretches to include Singapore, Australia, Malaysia, India, and Japan, with clients also in Thailand and Indonesia.
In 2012, Xchanging announced a joint venture in the region with YTL Corporation Berhad Group. Other major client wins include one of Germany’s largest banks and two of the largest global reinsurance providers.
Xchanging Group announced its financial results for the full year ending 31 December 2012 on 28 February. The results showed year-on-year improvement in financial performance on all key performance indicators. The company’s organic revenue grew by 5.6% on a like-for-like basis and full year cost efficiencies were delivered as planned.
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