1

Foreword

Global In-house Centres (GICs) in India today number over 1,000, employ 745,000 people with an estimated export revenue of over USD 19 billion in FY2015. What
began as a small step for MNCs like Texas Instruments in the early 1980s is today a giant leap – India is today the world’s leading global location for setting up Global
In-house Centres.

GIC centres in India over the last decade-and-a-half have scripted a story of success – moving from a ‘proof-of-concept’ to centres of strategic importance. This
segment has been growing at a CAGR of 11 per cent since FY2010, with a relative share of about one per cent of India’s GDP. Mirroring the growing maturity of the
Indian IT-BPM industry, GICs today have moved past the “cost centre” stage. They are now increasingly focusing on high value activities such as IP-creation, building
competencies around emerging technologies, setting up COEs and taking full ownership of vendor management. These factors are positively impacting the parent
firms’ top-line and bottom-line through faster time-to-market, product/process optimisation and expansion to new geographies/services. There are increasing cases of
Indian GIC leaders having global roles and the GIC governance model is more accountability-driven. GICs have also integrated deeper into the Indian ecosystem by
forging partnerships with start-ups, universities and service providers.

Apart from this, GICs have also taken up the Digitisation mandate for their parent firms – helping the parent evolve to a Digital Enterprise. GICs are addressing
digitisation opportunities in the areas of customer targeting & engagement, workforce enablement, operational excellence, supply chain, risk management, and
developing digital product and services.

Despite this success, the GICs continue to face certain challenges. Cost arbitrage continues to be a key driver and with increasing financial constraints, being cost
competitive is becoming a delicate balancing act. Attracting and retaining talent is becoming more and more critical as even start-ups today are offering competitive
wages. Developing leadership skills (balancing business, technical and people aspects) and domain specialists across verticals is gaining importance.

Going forward, GICs in India are on the path to becoming the global sourcing hub for the organisations’ entire IT and business process needs with focus on delivering
business value and innovation supported by high quality talent, leadership and technology.

This report is a follow-up to the 2010 report and is the first part of a two-part report. This report gives an overview of the GICs in India, their presence across segments
(IT, BPM, ER&D), geographies and verticals, detailed industry trends, growth drivers, challenges, best practices being implemented to overcome these and highlights
potential growth opportunities. We trust you will find this report useful, and welcome your feedback and comments at [email protected].

R Chandrashekhar
President

2
Acknowledgements

The report “GICs in India: Getting ready for the Digital Wave” is a joint effort by NASSCOM and Zinnov. Zinnov conducted
an extensive six-month study that involved detailed primary and secondary research to chart the evolution and maturity of
GICs in India; and identify emerging trends that are impacting this segment.

We would like to thank various stakeholders for their valuable contribution, without whose participation this report would not
have been possible.

First, we would like to thank the GIC member firms of NASSCOM - across IT, BPM, ER&D and Software Products sectors –
whose detailed inputs on numerous industry trends have added great value to the report.

NASSCOM’s GIC Council also helped shape the report through their counsel and guidance. We would like to convey our
thanks to them.

Thanks also to the Zinnov team comprising of Pari Natarajan, Bala Girisaballa, Karthik Ananth, Shashidhar Bellur, Deepthi
Pamadiparthi, Vishnu Shankar, Shyam Krishnan, Vishnu BG, Kriti Soni and Shilpa Ibrahimpur who have put in a lot of effort
to complete this report.

A special acknowledgement to the NASSCOM research team for their efforts and contribution towards this report.

3
Glossary

 Global In-house Centres (GIC): GICs are MNC-owned units that undertake work that supports the parents’ global businesses

 Business Process Management (BPM): Includes processes that may be IT-enabled, do not necessitate on-shore presence and
are hence, offshore-able. BPM GICs are responsible for processes that include finance & accounting, human resources, sales &
marketing, procurement & logistics, technical support, knowledge based services (market research, analytics), etc.

 ER&D services and product development: Engineering services are those that augment or manage processes that are
associated with the creation of a product or service, as well as those associated with maximizing the life span and optimising the
yield associated with a product or asset. This not only includes design elements of the product or service itself, but also
encompasses the infrastructure, equipment and processes engaged in manufacturing/delivering them.
R&D services involve providing research and development for hardware and software technologies, and development of software
running on embedded systems. This also includes activities that enable the parent’s product or service often called Offshore
Software Product Development (OSPD), across various stages of product development lifecycle - R&D, design, prototyping,
development, testing, maintenance, support and development of next generation of the products

• IT Services: IT services involve a full range of engagement types that include application development & maintenance, consulting,
systems integration, IT outsourcing/managed services/hosting services, infrastructure management, training, and
support/maintenance for the global enterprise

4
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
5
Executive summary (1/3)

USD 20 bn GIC revenue in FY2015, a CAGR of 11 per cent over FY2010

745k Number of employees; 5X growth since FY2003

1,000
> MNCs have GICs in India; ~220 new MNCs setup GICs since FY2010

25% Of MNCs have GICs in multiple locations in India

14% Of GICs have workforce of >1,000

40% Of GICs that belong to Global 2000 firms are enabling digitisation

6
Executive summary (2/3)

European and Japanese MNCs are now demonstrating higher inclination to set-up GICs in India

BFSI has the largest share of revenue in BPM and ITO; Other verticals besides Software/Internet are also driving
SPD from India

BFSI GICs have the highest median employee size

Tier I cities host the majority of GICs; Bengaluru has the most mature and diverse ecosystem

GICs are focussing on value creation beyond cost arbitrage – they are creating IP, contributing to the top-line
and developing digital competencies

GICs’ governance model is increasingly accountability-driven with global leadership representation in India

Many GICs are now multi-function centres with end-to-end ownership of products/processes

7
Executive summary (3/3)

GICs are establishing themselves as CoEs across technical, business and functional areas

GICs are instrumental in enabling collaboration with startups, academia for the global corporate

Digitisation is a key focus area with a positive impact on customer experience, workforce engagement, and
operational excellence

India is emerging as the world’s leading centre for digitisation, with world’s second largest pool of digital talent
and agile practitioners

Leadership and domain skill availability, talent retention, maintaining cost advantage are the key challenges for
GICs

Future: Many of the Global 2000 firms yet to leverage India advantage. Digitisation presents substantial
opportunity across the business value chain – however, it is critical to have multi-skilled talent

8
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
9
GICs in India: A ~USD 20 billion industry

GIC market In India

USD billion Account for one-fifth of total IT-BPM
exports in FY2015
19.4
CAGR Continue to account for ~1 per cent of
IT BPM ER&D
India’s GDP
11% Software
57% Product
Development
BFSI, Software & Internet - major
52% contributors
11.5 Embedded,
Engineering
43% Services and ER&D: Fastest growing segment with >13
Others per cent CAGR - existing GICs expanding
36% on a large scale

25%
SPD contributes to around 57% of the
3 26% ER&D sector

30% 23%
35% 30% ~220 firms have setup GICs in India since
35% 2010
FY2003 FY2010 FY2015E

10
Source: Zinnov Research & Analysis
Increase in number of Japanese and European GICs

Share of GICs in India by HQ GICs by their HQ country

geography (Top Countries excl. USA; nos.)
68%
4%

North America 76 FY2010

Europe FY2015
62
APAC X% CAGR
7%
Japan 11%
ROW 39 40 5%
31 8%
28
24 24 3% 9% 6%
24% 22 8%
15 13 15 14 12 12
9 9 8
3%
4%
1%
FY2015E

Note: 100% = 1,026 nos.

11
Source: Zinnov Research & Analysis
German and Japanese GICs mostly belong to Automotive and Software/Internet
verticals
GIC growth in India Vertical-wise split of German firms with Indian
nos. GICs – FY2015
Total GICs : 39
39

33% 31%
28 Automotive

Software & Internet

16
3 Medical Devices
8
10%
Chemical
5% 10% 10%
Electrical & Electronics
FY1995 FY2000 FY2005 FY2010 FY2015 Vertical-wise split of Japanese firms with
Semiconductors
Indian GICs – FY2015
Industrial
Total GICs : 40
40 22% Others*
27%

25
18 15%
8%
3 11
13% 15%

Note: *Others Include BFSI, Chemical, Diversified, Pharmaceuticals, Aerospace, FMCG, Retail
12
Source: Zinnov Research & Analysis
US and European GICs have significant representation of Software/Internet vertical

Top verticals contributing to GICs in India across regions

North America Europe Japan
696 247 40
Software/Internet Software/Internet Electrical & Electronics
5% 5% 12%
44% 21% 23%

Telecom & Networking Automotive Diversified & Industrial

3% 4% 6%
9% 13% 20%

Electrical & Electronics Diversified & Industrial Automotive

7% 6% 15%
8% 10% 15%

Research & Consulting BFSI Software/Internet

2% 2% 20%
7% 9% 13%

Semiconductors Chemicals & Materials Semiconductors

6% 4% 6% 6% 8% 25%

X% CAGR from FY2010-FY2015 13

Source: Zinnov Research & Analysis
BFSI has the largest share across BPM and ITO verticals; Besides Software/Internet,
other verticals are also driving SPD from India
GIC revenue split by functions across verticals#
USD billion
SPD ER&D^ BPM ITO
5.8 4.2 4.9 4.4
Software/ Diversified &
Internet 59% Industrial 23% BFSI 42% BFSI 36%

Electrical & Research & Software/

Electronics 12% Automotive 20% Consulting 21% Internet 15%

Telecom & Semi- Software/ Telecom &

Networking 10% conductors 11% Internet 12% Networking 14%

Diversified & Electrical & Electrical &

Industrial 7% Electronics 8% Electronics 6% Automotive 7%

Semi- Telecom & Media & Diversified &

conductor 6% Networking 7% Ent.* 3% Industrial 7%

Telecom & Electrical &

Automotive 3% Energy 6% Networking 3% Electronics 4%

Note: #Includes top 6 verticals; ^ER&D excludes SPD and includes Embedded Services and Engineering Services; *Ent: Entertainment
14
Source: Zinnov Research & Analysis
BFSI GICs are the largest employers

Percentage distribution of GICs by vertical Percentage distribution of talent by industry vertical Median size
nos.

37% Software/Internet 24% 100

Telecom &
8% Networking 8% 140
Diversified &
7% Industrial 8% 240
Electrical &
6% Electronics 7% 120

6% BFSI 24% 870

Research &
6% Consulting 7% 254

6% Automotive 6% 225
Semi-
5% Conductor
3% 160

19% Others 13% 150

Note: *Others includes Aerospace & Defence, Biotechnology, Chemicals & Materials
15
Source: Zinnov Research & Analysis
GICs predominantly based out of six top locations with Bengaluru having the largest
share
Location based split of GICs GIC split based on number of centres
Total GICs: Emerging Locations 756
1,448*
6% 3%
Total GIC talent:
NCR 191
745,000
42 17 9 11
14% 14%
Primary Locations 1 2 3 4 5 >6
Emerging Locations Vadodara
No. of centres
Ahmedabad
Talent, cost optimisation and ecosystem - key drivers for MNCs
Pune setting up new centres in India
Kolkata
13% 10%
Hyderabad
Mumbai
• MNCs prefer to setup GICs across the top six locations:
11% 14% Bengaluru, NCR, Pune, Mumbai, Hyderabad and Chennai -
11% 10% Talent and peer presence being the primary reasons
Chennai
Bengaluru • Some firms have considered other secondary locations
10% 11% such as Ahmedabad, Kolkata, Coimbatore, Vadodara, due
to specific reasons such as proximity to manufacturing
35% 38% facility and access to niche or low cost talent
Coimbatore
Trivandrum

Note: *One GIC per location

16
Source: Zinnov Research & Analysis
Tier I cities are emerging as specialist centres for specific verticals

Presence of GICs in Tier I locations across verticals

Bengaluru Chennai Hyderabad Mumbai NCR Pune
• Top six cities are developing vertical
Software/ specific ecosystem
Internet
41% 9% 14% 8% 13% 15%
• Chennai and Mumbai have developed a
favorable ecosystem for Energy
BFSI 29% 13% 9% 27% 14% 8%

• Pune: An automotive hub for its proximity

Diversified/ to manufacturing locations
Industrial
37% 15% 7% 8% 10% 23%
• Bengaluru: Hub for Hi-tech (Telecom &
Research &
Consulting
20% 12% 8% 20% 32% 8% networking, semiconductor,
software/internet)
Semiconductor 56% 9% 18% No Presence 9% 8% • MNCs from other verticals also consider
Bengaluru as the preferred location for
Telecom & their software/embedded and IT needs
Networking
56% 9% 8% 8% 10% 9%

Automotive 28% 17% 5% 3% 11% 36%

MNC GIC Presence:
Electrical &
Electronics 42% 11% 9% 6% 18% 14%

High Low
Energy 13% 27% No Presence 26% 17% 17%

Note: Diversified/Industrial includes conglomerates and industrial firms

17
Source: Zinnov Research & Analysis
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
18
GICs are evolving across multiple dimensions

A Value creation is the new prerogative

B Multifunction centres

Key C Scale at the core

Trends
D Development of CoEs

E Strengthening ecosystem connect

19
Source: Zinnov Research & Analysis
HQ now perceives India GICs as more than just a cost centre
A Value Creation

New Mandates for India GIC Leaders

Deliver projects with
higher complexity Build and run a CoE
Power management firm’s GIC in India has built
Increase in scope of an analytics CoE for the global organisation

+ VALUE??
services delivered

Build competency
Indian Specific Charter
A leading power and automation management
firm has its own India product mandate

Cost Arbitrage Emerging Markets Charter

Improving delivery A leading engineering firm’s GIC owns and
efficiency develops solutions for the emerging markets

Contribution to Global Charter

top-line Target’s GIC has setup Target Accelerator in
Bengaluru which helps the parent organisation
to collaborate and engage with startups
Emerging market
focus Digital Charter
• Leaders in India are now looking at several ways to add
value that contributes directly to the HQ’s business A global retail giant’s GIC works on enabling the
IP creation digital transformation journey for the global
enterprise from India

20
Source: Zinnov Research & Analysis
GIC governance has evolved towards an accountability driven model
A Value Creation

Phase 1 Phase 2 Phase 3

Global Head Global Head Global Head

Business Business Business

Leader Leader Leader India GIC Business
Head Leader
India GIC India GIC
Head Head

India India India India India India

Manager Manager Manager Manager Manager Manager

India Team India Team India Team India Team Global Team India Team India Team

• Single function centre • Multi-function centre

• Multi-function centre
• Low maturity • High maturity
• High maturity
• Local governance • Global governance - distributed agile teams
• Vertical governance
• Completely authority based • Complete accountability
• Partially authoritative and partial accountability
• Delivery focussed • Value measured through business impact
• Value focussed
• Managerial leadership • Influence driven leadership

21
Source: Zinnov Research & Analysis
As a result, metrics for measuring GIC value are moving from the operational to
strategic
A Value Creation

Before Now

Competency Research &

Administrative Efficiency Market
Development Engineering

Operations Finance HR Customer Increase revenue per Maximise benefits of

Reduce time to market
employee globalisation
• Capacity • Operational • Recruitment • Customer
utilisation cost satisfaction
Expand Market Build inventions Technology transfer
• Training score
• Demand • Human
management resource cost • Compensation • Net promoter Improve Create intellectual Enable
& benefits score customer connect property ecosystem
• Engineering • Charge back
metrics variability • Employee
Human capital
engagement Manage risks Thought leadership
development
• Competency &
proficiency Integrate & align Improve engineering
Improve margins
workforce tools

These metrics drive the leadership to take a canonical view of the Measuring along these dimensions provides a holistic view of ROI & value.
purpose of their existence. Hence, value added to the parent organisation It also helps invest justifiably, allocate resources effectively and influence the
is minimal and narrow behaviour of workforce

22
Source: Zinnov Research & Analysis
Newer GICs are being setup at a higher maturity level
A Value Creation

Maturity Levels of GICs

25
• GICs that were setup in the last five years have been
setup at a higher maturity level

• Newer GICs are being setup to bring in new capability to

their global portfolio rather than focusing on cost or scale
20
• MNCs are now perceiving India as not just a location to
Years since Inception

optimise cost but also as a strategic location to build new

capabilities for the organisation

15
Case Examples

• Setup first technology innovation centre outside US in

10
Bengaluru
• Focus on analytics and futuristic technologies like
augmented reality
• Plans to partner with startups and setup a corporate
accelerator in the future
5

• Setup its first GIC globally in Bengaluru in 2014

• Centre works on customer analytics
0
Low Maturity High Maturity
Overall Maturity Level

23
Source: Zinnov Research & Analysis
With strong India leadership, GICs are now managing vendor relationships for the HQ
A Value Creation

Erstwhile.. Now and future…

Competitor Collaborator Customer

HQ HQ HQ

GSO
GSO* GIC GSO
GIC

Vendor GIC Vendor

Vendor

• Vendor management responsibilities shared

• Vendor Management handled by GSO/HQ between HQ and GIC • Vendor management completely driven by GIC
• Vendor delivered projects to HQ directly • Local vendors deliver to GIC • GIC manages both global and local vendors
• Minimum or no collaboration between GIC, • Increased collaboration between GIC and • Increased service delivery efficiencies
vendor vendor • GIC provides domain expertise to vendors
• Low service delivery efficiency • Improved service delivery efficiency

Note: GSO*: Global Sourcing Office

24
Source: Zinnov Research & Analysis
GICs are sourcing multiple capabilities resulting in emergence of multi-function
centres
B Multi Function Centres

Core Split of MNCs based on function

Research

Product
IT
Development
Single Function Centres

322 Multifunction Centres

704

Tech
F&A Total: 1,026 nos.
Support

Earlier Now

• GICs setup for a single function – • Multifunction GICs being setup

Knowledge IT/BPM/ER&D • Single function GICs evolving into
HR
Services • BUs/Functions interact with multifunction centres
respective HQ counterparts only • GICs own end-to-end process
• Minimal collaboration between • Increased collaboration between
Local Market India teams teams leading to mutual adoption
of best practices

25
Source: Zinnov Research & Analysis
India GICs are emerging as power-centres for MNCs
C Scale

Leading MNCs have >35 per cent of the technology workforce operating out of their India centre

EMC India R&D centre is the largest centre outside of North Tesco HSC is the largest IT centre of the organisation providing
America. India CoE deliver product engineering, services and support to Tesco operations in the UK, the US, and major European
integrated innovation for every product group countries. It has shifted from just a support base to one that
manages mission-critical IT applications

Philips Innovation Campus (PIC) in Bengaluru is the firm’s largest Bosch India is the largest software development centre of Bosch,
R&D centre outside Eindhoven, Holland outside Germany. The centre ensures product excellence to maintain
global competitiveness for the parent. Robert Bosch India (RBEI)
offers services to customers other than BOSCH as well.
ER&D GICs

IT GICs
SAP Labs India is the third largest R&D centre of the firm outside
Germany and contributes to a wide spectrum of SAP’s products
HSBC Global Technology is headquartered in Pune and is the
largest IT development centre with a number of key leaders sitting
out of the India office
NetApp India has a substantial R&D base in Bengaluru and is the
largest centre outside United States

FTSI is the second largest software development centre for Ford

Adobe India operation has grown to be the largest R&D centre globally. It is also the global analytics hub for Ford
outside United States

The Cisco Global Development Centre in Bengaluru is the largest Barclays India centre constitutes more than 35 per cent of its global
centre outside United States. It houses R&D, IT services and IT workforce. It has CoEs in data warehousing, testing, service
customer support delivery, infrastructure, and products

26
Source: Zinnov Research & Analysis
India is home to over 100 CoEs across verticals
D Centres of Excellence

Types of CoEs

Market Competency Strategy

Line of Business Geography Technical Domain Tactical Futuristic

European electrical
US based investment European enterprise
British banking and and automation
banking firm’s entire software firm has
financial services firm management firm has British multi-brand
.com platform is incubation CoE for
has a testing CoE for its global delivery American financial retailer has a state-of-
delivered out of India emerging markets
its entire ATM range centre for SAP across software maker has a the-art lab for POS
based in India
the globe CoE for product and is also the CoE
European
Leading networking management for technologies
conglomerate has Leading data storage
organisation has a Large American retail focusing on mobility
CoE for software firm has CoE for
CoE for platform firm’s GIC is the Big solutions
innovation in two of its emerging markets in
development Data CoE for the
major verticals in India India
enterprise

CoEs ensure a clear and distinct focus, reduce work allocation contention with other delivery centres and help build a strong ecosystem network
both internally (with customers) and externally (with external bodies) related to their area of focus

27
Source: Zinnov Research & Analysis
GICs are exploring various channels to collaborate with startups
E Ecosystem Connect

Competencies Offered

Collaboration Drivers Collaboration Models

• Innovation
• Extended support
Serving unmet needs of clients • Harvest new ideas Corporate Accelerator
• Branding/sales & marketing
• Compact product development Program
• Access to Clients
cycle
Strive for innovation
Intrapreneurship Program
GICs Startups
Business transformation
• Goodwill enhancement • New business opportunity
• Experiment with solutions • Customer connect Enterprise Partnership
Global market access
based on new technologies • Credibility in the market
• Faster time to market on new • Support in solution integration Corporate Funding
High business value to clients
offerings • Supporting infrastructure Program

Benefits Achieved

28
Source: Zinnov Research & Analysis
GICs are actively engaging with startup ecosystem through various models
E Ecosystem Connect

MNC Funding Models MNC Angel Investors

Accelerators Venture Fund Direct Funding

Rajan Anandan Manish Dalal Vijay Anand Srini Raghavan Sarv Saravanan
MD- Google India VP & Head - VP & MD - Intuit SVP & CHRO SVP & GM, APJ
Verisign Scientific Games Centres of
Asia Excellence - EMC

MNC Mentoring MNC Leaders as Mentors

IBM Innovation Centre in Bengaluru

startups will be mentored will partner with startups in IoT and
by Google during the big data domains offering mentorship
week long program along with other expertise & benefits Prashant Gupta Anupam Pahuja Mahesh Calavai Manish Choudhary
Director - New Product GM, Technology – Director - Analytics, MD PB Software India.
Strategist - Microsoft PayPal APAC R&D and Accelerator VP, R&D PB Inc.
25 100 Corporation India Pvt. Ltd Program - Target
Corporation

29
Source: Zinnov Research & Analysis
GICs are tapping into the startup ecosystem by setting up accelerators
E Ecosystem Connect

Professional
Overview Focus Areas Assistance Networking
Development

• Access to SW, dev tools & cloud • Business & tech mentors from • Access to successful Indian
• Launched the accelerator MS and across industries entrepreneurs, angel
• Cloud, Mobile, Internet for free through the BizSpark &
platform in Jul ‘12 • MS provides technical training investors, legal experts, VCs,
BizSpark Plus programs
& guidance on Azure dev investment bankers, etc.

• Access to PB cloud SW API's &

• Technical, design, UX &
• Launched in Apr ‘14 • Location Based Services, Data during the program • Investor connect &
• business mentorship from PB
• In partnership with the Mobile, Analytics, Discounted licenses after program exclusive showcase
engineering leaders &
Accelerators / Noida NASSCOM 10K team ecommerce management • Preferential support on legal, IP, opportunity
external experts
accounting from PB partners
• Launched in Nov ‘13
• • Technology mentorship from
• Part of PayPal CSR Infra support from PayPal
• Search, Data, Mobile, eBay
program • Access to service providers at • Connect with investors/VCs
competitive and preferential rates •
Content, Social Business mentorship from
• In partnership with TiE
TiE
Chennai Chapter

• Launched in Jan ’14, • Payments, Recommendation • Access to tools, resources and

startups incubated in Engine, Analytics, In-store operational support • Access to mentors • Access to global business
Target’s Bengaluru office experience • Mentoring teams

• Launched in Aug ‘14 at • NA • Access to space, infra, R&D • Architecture/dev assistance • Connect with investors/VCs
Progress Software iLab expertise, and cloud-based
The Progress Pacific • GTM assistance
centre, Hyderabad Progress Pacific dev platform
Incubator Program

• Launched the program in • Cloud, Mobile,

• Mentoring from business
Aug ‘14 in Bengaluru Collaboration, Enterprise
• Access to working space executives, industry leaders • Connect with investors/VCs
• In partnership with the SW infra, Networking &
and VC investors
NASSCOM 10K team the future workplace

30
Source: Zinnov Research & Analysis
GICs are engaging with Indian universities through various collaboration models (1/2)
E Ecosystem Connect

GICs’ collaboration models with Universities

Sponsored Training & Curriculum Fundamental/Open

Consulting Sponsored Research
Infrastructure Design Research

Collaborative research Research activity is basic,

Universities offer training & MNCs leverage skills and
Organisations may offer projects between MNCs & generally not associated with
higher education programs to expertise of university staff
hardware and/or software universities with well-defined commercial outcomes but
firms & vice-versa. Firms may for a specific project or for
resources/funding to setup aim and objective of with the advancement of
also offer curriculum addressing a particular
the lab infrastructure research, associated with knowledge. Faculty is free to
consultation to universities business problem
commercial outcome choose research area

A leading energy A leading food organisation

A leading microprocessor &
A leading technology and management and A major communications tie-ups with universities for
chipset organisation
consulting firm established automation firm technology solutions scientific research for
collaborated with a Tier I
a CoE with a Tier II collaborated with a Tier II provider collaborated with a product innovation-2-3 year
university for sponsored
university to focus on university to promote Tier I university on projects (food processing
research on speech technique, waste reduction,
security technologies and technical excellence in the interactive communications
technology software re-using saved pulp), PhD
cloud computing field of electronics software consulting project
systems sponsoring
and control engineering

Case Examples

31
Source: Zinnov Research & Analysis
GICs are engaging with Indian universities through various collaboration models (2/2)
E Ecosystem Connect

Collaboration: IBM signed the first Open Collaborative Research agreement with Indian School of
Collaboration: Bosch in collaboration with the Indian Business, Hyderabad to improve the competitiveness of the services sector in the region
Institute of Science, Bengaluru is setting up an independent Objective: The joint research will study mathematical modeling techniques and social networks to
“Robert Bosch IISc Centre for Research in Cyber Physical enable organisations on business and human capital optimisation
Systems” with an investment of € 22.8 million
Details: The team will use tools such as innovative modeling and forecasting techniques, data
Objective: The centre aims at undertaking applied research mining, social network analysis and stochastic optimisation
in Cyber Physical Systems
Details:
• Projects focus on Internet of Things (IoT) including
research on IT design, cyber-physical systems, mobility
solutions and renewable energy, etc.
• Brings together advances in distributed sensing, wireless Collaboration: Xerox Corporation is sponsoring a research project at the Indian Institute of
communication, networking, computing, controlling Technology, Kharagpur
physical devices, algorithms
Objective: To research and develop technology in the emerging area of mobile applications and
• Verticals include agriculture, buildings, healthcare, services
transportation, and water
Details:
Example: The house of the future: Based on energy prices • This research project explores mechanisms and challenges for providing targeted information and
and local weather, will optimise its energy consumption to solutions to mobile phone users leveraging predictive analysis of mobile phone user behavior and
meet the needs of its occupants personalisation based on usage patterns..
• Project includes data mining, predictive analytics, social network analysis, parallel and distributed
computing, mobile computing and multi-agent systems

32
Source: Zinnov Research & Analysis
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
33
GICs have moved beyond modernising IT infrastructure and embarked on the Digital
journey

AREAS OF IMPACT FOR AN ENTERPRISE

Customer Workforce &
Operational Supply Chain Risk Digital Products
Targeting & Partner Management & Services
Excellence Optimisation
Engagement Enablement

Digital Platform
Digital Business Process/Operations

Modern IT
Virtualization Hybrid Cloud Sensors Mobility Enterprise Security Analytics Platform Software Defined Network

Contextual Data Customer Data Enterprise Data

On-board Process- Corporate Updates &

Systems Data Related Data Notifications
Weather/ Traffic Natural Point-of- Social Media Loyalty App Usage
Seasonality Data Resources Data Sale Program Data Data
Data CRM Data Partner Data Warehouse Data

Note: Content reproduced with permission from Persistent Systems

34
Source: Zinnov Research & Analysis
After US, India is the most preferred destination to setup a centre to drive digital
transformation

US (Bay Area, NY,

Seattle) India

Large number of product firms, a developed and mature Increased globalisation of tech enterprises, a booming startup landscape,
ecosystem, abundance of fresh and existing talent pool and a proliferation of new-age technologies, availability of digital skillsets (due to the
widespread startup culture has resulted in several traditional presence of product firms and research institutes that focus on technology) are
enterprises setting up their digital labs in the Bay Area key factors driving setting up of digital hubs

Note: Content reproduced with permission from Persistent Systems

35
Source: Zinnov Research & Analysis
Many GICs in India are already enabling digitisation of the enterprise

Mobility Cloud

40%

Big Data/Analytics
Digital Enablers
Legacy GICs

60%
Machine Learning Internet of Things

GICs of Global 2000 firms

36
Source: Zinnov Research & Analysis
GICs in India are enabling digitisation across six major themes

Enabling enterprises increase customer base, Customer

engagement, loyalty and advocacy by providing targeted Targeting &
promotions and marketing, personalised in-store and 1
online experience Engagement

Digital Workforce &

6 Products & Partner
Services Enablement 2
Enhancing existing Enhancing workforce & partner
products/services or creating new productivity through ecosystem
products/services through digitisation integration and collaboration

GICs in
Risk India Operational
Management Excellence
5 3
Helping organisations in Enabling enterprises optimise
real-time detection and their business processes real-
prevention of fraud and theft time within the organisation
Supply Chain (incl. support functions)
Optimisation

Enabling organisations achieve a more accurate and

4 robust supply chain via real-time demand assessment
& forecasting, dynamic inventory management and
real-time supply chain optimisation

Note: Content reproduced with permission from Persistent Systems

37
Source: Zinnov Research & Analysis
Customer Targeting & Engagement: Enabling targeted marketing and offering
personalised in-store and online experience

Awareness Engagement Trial Retention

SOURCES

Social Media App Usage Loyalty Browsing Point-Of-Sale CRM Data RFID/Sensor Product Usage
Data Program Data Footprint Data Data

Case Examples

Uses analytics to develop customised products,

Customises financial products and services for
services and offers by crunching and studying the large
customers based on usage data analytics (credit
sets of customer behavior data generated through
cards, mortgages & personal loans)
customer loyalty program

Uses customer’s real-time browsing and overall Drives analytics for Sears Holdings India to measure
buying history to recommend products using promotions effectiveness and analyse customer spend
analytics and big data

Note: Content reproduced with permission from Persistent Systems

38
Source: Zinnov Research & Analysis
Workforce & Partner Enablement: Enhancing workforce & partner productivity through
ecosystem integration and collaboration

2
Internal External Workforce
Collaboration Collaboration Productivity
SOURCES

Employee- Partner- Project- Process- Customer- Corporate Updates Social

Related Data Related Data Related Data Related Data Related Data & Notifications Media

Case Examples

Undertaking predictive analytics or modeling for –

Developed an employee portal for allocation of jobs
talent acquisition, headcount analysis, people costs,
and managing customer requirements. The portal
international mobility, employee engagement,
keeps a track of employees progress and any breach
diversity and inclusion, performance, succession
GIC of a leading of deadline or any inability of the employee to complete
planning, workforce planning/demand planning to
Telecom firm the job is escalated automatically to the manager
manage people and performance

Developed a tool for technology department in India

for team collaboration Deployment of an open thought process and idea
portal. Employees will post their ideas on the portal
Built an iOS based mobile application to access and an internal review committee selects ideas and
GIC of a leading company servers through mobile to send or receive GIC of a leading implements them
BFSI firm mails, requests, approvals, etc. Electronics firm

Note: Content reproduced with permission from Persistent Systems

39
Source: Zinnov Research & Analysis
Operational Excellence & Supply Chain Optimisation: Enabling organisations optimise
their business processes

3
Policies & Organisation &
Systems & Tools Data & Insights
Processes People
SOURCES

Process- Business Systems Project/ Real-time Employee- KPI Data Analytical Models Supplier/ Customer-
Related Data Data Manufacturing Data operations Data Related Data Data Vendor Data Related Data

Case Examples

Uses advanced inventory analytics for inventory Developed competitive intelligence and analytics
optimisation. They are also using supply & fulfillment platform that allows the firm to view what its
analytics to determine the optimal splitting of competitors are selling and make recommendations to
inventory across fulfillment locations, advanced its merchants to make necessary price changes. This
carrier rate simulations and future state omni- platform is tied to a machine learning engine that
channel fulfillment network analysis effectively auto prices their products

Uses data analytics for Datacentre Lifecycle

Tesco uses video analytics and video feeds to
Management by analysing the energy usage and
monitor supply and inventories at shelves in its
consumption patterns data. This analysis is further
stores. It keeps Tesco informed on product status - if
used to better understand and plan capacity
a certain product is completely depleted, near-end or
management, energy management and risk
full and fresh
management

Note: Content reproduced with permission from Persistent Systems

40
Source: Zinnov Research & Analysis
Risk Management: Helping organisations in real-time detection and prevention of fraud
and theft

5
Internal External Workforce
Collaboration Collaboration Productivity
SOURCES

Employee- Partner- Project- Process- Customer- Corporate Updates Social

Related Data Related Data Related Data Related Data Related Data & Notifications Media

Case Examples

Perform credit risk analytics by using Credit Scoring,

Basel, Stress Testing, Loss Forecasting, Reserving Perform risk analytics and fraud control by analysing
and Collections for customers across Europe, fraud pattern on credit, debit and forex card
Americas(North & Latin America), Middle East & transactions, trend identification, etc.
Asia Pacific

Use analytics to control and mitigate the potential Introduced a tool to analyse and evaluate the risk in the
losses from misuse of Amazon's transactional customer hydrocarbon contract. This pricing technique
policies. Some of the risks managed include of pricing helps in rewarding good customers and
fraudulent usage of promotions, discounts, customer penalising the defaulters. Saved >USD 10 million
returns, subscriptions, etc.

Note: Content reproduced with permission from Persistent Systems

41
Source: Zinnov Research & Analysis
Digital Products & Services: Enhancing existing products/services or creating new
products/services

6
New Digital Digital Offerings
Market Concept New Digital
Offerings Line & Solution Design Output Prototyping Beta Testing
Research Feasibility Product/Service
Strategy Mapping
SOURCES

Existing Product- Beta-Testing

Point-of- Social CRM Customer Market Competition Target Group
Line & Enterprise Data
sale Media Data Trends Data Data
Data

Case Examples

Developed a mobile coupon-clipping app, Cartwheel for

Developed mobile grocery applications for Android Android and iOS with features like scan-to-search. The
and iOS with user-friendly features like barcode app can be used to check and download desired
scanning support, recipe share and voice search discount coupons that can be used at Target stores and
this is turn adds points to your Target loyalty program

SAP Ganges monetises retail shop data to help CPG Some of its biggest products of Adobe — Acrobat,
companies (P&G, HUL, Nestle, Marico, etc.) gain Illustrator, InDesign — are now entirely developed and
visibility through reporting and forecasting based on managed out of India
sales information aggregated from the retail stores

Note: Content reproduced with permission from Persistent Systems

42
Source: Zinnov Research & Analysis
Apart from Enterprise Digitisation, GICs are also developing futuristic products

Launched eye camera for Indian rural market which captures all the data Developing system-on-chips (SoCs), used in the Internet of Things (IoT)
of the eye when positioned on it and it processes the images and stores devices and wearables to explore women-focused wearables
them in the cloud before mailing them to the concerned hospitals and
mobile phones/tablets of doctors in major cities for their opinions and
insights on providing care

Bosch India with IISc lab (sponsored by Bosch) has developed a smart ring
• Broadcom is investing in development of products based on wearable
which is being tested as a tool to deliver therapeutic care for stroke patients
devices and Internet of Things for India and emerging markets from its
Bengaluru centre
• The centre will develop wearable devices for fitness tracking, vital stats
monitoring and individual safety

Google in Bengaluru is working on the next-gen cloud platform architecture

that provides interoperability, virtualisation and systems management for Cisco's Smart+Connected Communities (S+CC) solutions combine
software applications and services to businesses and startups networking technologies with building systems and infrastructure to
increase productivity, improve energy and building process efficiencies,
and reduce operations cost

43
Source: Zinnov Research & Analysis
GICs are now being setup with a strategic intent of building their digital capabilities in
India

MasterCard: American financial services corporation Lowe’s: American chain of retail home improvement and
Global Revenue: USD 9.47 billion (2014) appliance stores
Global Revenue: USD 56.2 billion (2014)
Year of Establishment of India GIC: 2013
Objective: This CoE is an extension of the MasterCard Year of Establishment of India GIC: 2014
Advisors’ Advanced Analytics group in New York that Objective Setup: To innovate on omni-channel retail and focus
leverages big data and analytics to solve their most pressing on the next-generation customer experience, by laying
business challenges, such as enhancing customer acquisition emphasis on technology and analytics to provide customers
and loyalty with a more personalised shopping experience

Limited Brands: American fashion retailer Redmart: A Singapore-based online grocer

Global Revenue: USD 11.45 billion (2014) Global Revenue: >USD 2 million (2014)

Year of Establishment of India GIC: 2014 Year of Establishment of India GIC: 2014
Objective: Using data analytics to analyse vast quantities of Objective: To serve as an analytics hub for making data-
customer and retail information, to create better products and oriented decisions for its business expansion plans. It will also
improve customer satisfaction provide optimisation algorithms for key business processes

44
Source: Zinnov Research & Analysis
India value proposition: Emerging as the world’s leading centre for digitisation
initiatives

• Digital technology talent is available in abundance due to high rate of

technology adoption in India
People • India has a large talent pool available in skillsets like mobility, big data,
analytics, UI/UX design

• Technology adoption in India is high with technologies necessary for

Technology Digitisation having a strong penetration among the Indian ecosystem

• The process maturity in India is improving year on year with more GICs,
Process large Indian software firms and startups adopting agile processes
• The number of scrum masters/agile coaches in India are also rising

• >3,100 startups with a large share of them working on futuristic technologies

Ecosystem • Service providers in the Indian ecosystem are also shifting their focus
towards digitisation

45
Source: Zinnov Research & Analysis
People: India, the second largest in the world in availability of emerging skills

Big Data

Video/Audio
• India is almost on
par with the US in
Privacy & Security mobility talent

Machine Learning • Big data/analytics,

video/audio, UI/UX,
privacy and security
NLP
are skills which are
fast growing
UI/UX

Mobility

Analytics

SDN
Low High

46
Source: Zinnov Research & Analysis
Technology: Adoption of new age technologies is a key enabler for GICs to participate
in digital transformation

PROCESSES & TOOLS Mobile First Design Standards

Experience
Agile • Understanding mobile users

User
• Time Space constraints
Project Management • Touch, Location, Proximity sensors
• Mobile Design Patters

Web Apps Native Apps App Dev. Platform

Enterprise Scale

Framework
Programs UI Frameworks MVC Pattern Data Visualisation

App
DevOps

Middleware
Automated Configuration
Management Web Services Security & Identity Open APIs Mean Stack
Management

Cont. Integration

Data Storage Data At Scale Data to Insights ETL

Automated Unit Testing

Data
Alerts & Monitoring

Infrastructure
Cloud Deployment Fundamentals: Virtualisation & OS
Code Repository Version

OS/
Tenancy Models
Control
Software Defined

Note: Content reproduced with permission from Persistent Systems

47
Source: Zinnov Research & Analysis
Process: India has the largest base of Agile practitioners after US

Number of Scrum Masters/Agile Coaches in India

66,322

• The number of scrum masters/Agile Coaches in India is second

only to the USA indicating a very high adoption of Agile process in
the country

• Scrum master trainings and certifications have gained popularity

14,929
13,121

6,116
4,165
2,154

48
Source: Zinnov Research & Analysis
Ecosystem: GICs can partner with IT service providers that are embracing the digital
wave

Digital Service Providers Traditional Service Providers

• Launched TCS Digital Software & Solutions Group in January,

2014
• Provides solutions in Customer Intelligence & Insights, Digital
Strong in people capabilities, IP/solutions & Commerce, Intelligent Infrastructure
maturity of services

• Launched Wipro Digital in April, 2014

• Provides solutions in customer intelligence & insights, digital
commerce, intelligent infrastructure
Has a very good business model and mature
services
• Set up a separate Digital business unit in Jan, 2015
• Provides solutions in Digital Transformation for Insurers, digital
marketing, digital commerce, customer and employee
management

Leads the pack in alliances forged and clients

• Provides solutions in Finacle Digital Commerce, Digital Media
Enterprise, Digital Marketing, Omni-Channel Retailing

GICs can contribute towards enterprise digitisation by leveraging digital talent and capabilities of service providers

49
Source: Zinnov Research & Analysis
Ecosystem: Digital startups are offering opportunities to GICs for collaboration and
driving innovation

India has the 4th largest

Internet of Things Big Data & Analytics
startup community in the
11,500+
world

Number of startups Augmented Reality Cloud Computing

3,100+ > 800 Security Payments

New startups
every year

Hardware AdTech

2014E 2020P

>7% startups provide Gaming

>25% startups enterprise mobility platforms
leverage cloud as >26% startups use mobile
the delivery
Cloud* platform Mobility* app as a primary delivery
mode

50
Source: Zinnov Research & Analysis
Availability of digital talent is enabling digital initiatives to be driven from GICs

Location based split of GICs Total digital talent availability in India

Total GICs:
1,448* Mobility
34,000 – 34,500
Intensity of Digital Activity:
None Low Medium High Very High NCR
Big Data/Analytics
208
132,500 – 133,000

UI/UX Design
Pune
77,000 – 77,500
181
Hyderabad Machine Learning
Mumbai
152 18,000 – 18,300
158
Chennai
Bengaluru Privacy & Security
149
510 44,500 – 45,000

Note: *One GIC per location

51
Source: Zinnov Research & Analysis
Digitisation is changing the way MNCs are leveraging their GICs

Then.. Now…

GIC perceived as a cost centre GIC perceived as a competency centre

More collaboration between the IT & R&D teams has led to

IT & R&D teams were governed as separate setups
change in the governance model

IT GICs were typically perceived as support organisations IT GICs are now business enablers for the organisation

Digitisation
No adoption of Agile; fixed project scope, work involved mostly support Adoption of Agile allows change in project scope; work involves
and occasional development full lifecycle of product development

No emphasis on technical career path at IT GICs Defined technical career path

R&D teams hire from Tier I institutes while IT teams hire from Tier II
IT and R&D teams are hiring from Tier I institutes
institutes

IT functions were in siloes and solutions were localised IT functions are integrated and solutions are shared

52
Source: Zinnov Research & Analysis
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
53
The evolving GIC landscape is resulting in emergence of new drivers and challenges

Drivers and Challenges in the Evolution of GIC Landscape in India

1. Enhanced cost to value

Drivers proposition
2. Digital transformation
Challenges
3. Emerging technologies talent
4. Ecosystem
Value and Scale of Operations

1. Critical: Cost arbitrage

1. Enhanced value addition and
2. Operational efficiency innovation
USD 19.4
3. Correction in attrition 2. Closer to emerging markets
1. Increased awareness about billion
outsourcing
2. Peer pressure
3. Globalisation drive 1. Domain specific talent
USD 11.1
4. Enhanced scalability in 2. Measuring business impact
operations billion
3. Customer proximity
4. Innovation capability

1. Experienced global leadership 5. Global leadership

1. Cultural differences 1. Economic meltdown 6. Distributed Agile Development
2. Quality of talent pool
2. Quality, SLA’s and 2. Lower productivity
3. Cost escalation
productivity
4. Infrastructure
~USD 3
3. Talent pool with domain billion
expertise

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

54
Source: Zinnov Research & Analysis
Key challenges faced by GICs

Challenge Intensity

Domain Knowledge
1 Lack of skill sets and domain knowledge pertaining to industries like insurance, BFSI and energy

Leadership
2 Leaders who have an ability to straddle both technical and business perspectives are still a rarity in the Indian ecosystem

Talent Attraction and Retention

3 As a number of newer GICs and startups are coming with competitive talent attraction policies, GICs are facing a challenge in attracting
and retaining talent

Distributed Development
4 As many GICs are have now started working on a distributed development model, collaboration and delivery management for the work
done at different locations is a challenge

Financial Constraints/Cost Arbitrage

5 Financial constraints and pressure to maintain the cost arbitrage has now become a challenge as they have started to deliver higher
value work

Innovation/ Latest Technologies

6 With the technology disruption caused by digital transformation, GICs are facing difficulties in keeping pace with the transformation both
in terms of infrastructure and talent

Standardisation
7 GICs face a challenge in standardising and benchmarking practices with headquarters

Low High
55
Source: Zinnov Research & Analysis
GICs facing competition for talent even from the startups community

Comparison of salaries for talent working on mobile

technologies with 0-3 years experience Startups hiring from Tier I Institutes

18
16
14
Annual Salary Range

12
(INR lakhs)

10
8 • Startups have ramped up their hiring from Tier I institutes like IITs
and IIMs
6
4 • Around 10 per cent of IIT graduates in 2015 are likely to join
2 Indian e-commerce majors or startups
0
Retail MNC Giant Global E- Indian E- Indian E-
GIC commerce Major commerce Startup commerce Startup Startups hiring from GICs
GIC 1 2

• Digital talent is proving difficult to hire as the Indian startups are

now offering competitive salaries for fresh as well as experienced
professionals

56
Source: Zinnov Research & Analysis
Adoption of HR best practices will help GICs to address talent related challenges
Challenges addressed 1 2 3

• Direct hiring provides better control over the hiring process and candidate experience management. To leverage the
Sourcing Mix direct hiring channel, companies should have a mature and efficient HR recruitment engine

• Social events organised on a regular basis

• Encourages employees to participate in community initiatives
Employee Engagement • Short term career break allowed for employees who complete 5 years
• Option of working part time based on prorated salary upon confirmation of service
• Fortnightly, monthly and annual excellence awards announced to employees via newsletters, town hall meetings and
social events

• Interactive portal for employees to actively network within the organisation and share useful information
Communication • Disseminate information on job opening, allowing employees to seek both vertical and horizontal growth opportunities

I. Foundation Program: Long Cycle Program: For freshers with a non-IT background
Targeted Competency II. Fast Track program: For freshers with an IT background,
Development Programs III. Just-In-Time Training: Courses delivered to employees based on sudden/unforeseen requirements
IV. Project Management CoE: To establish high standard in Project Management through competency development,
experiential knowledge sharing and analysis of project excellence

57
Source: Zinnov Research & Analysis
GICs have introduced expatriate programs to improve domain knowledge and
leadership maturity at India centre
Challenges addressed 1 2 3

Advantages

Skilled Domain Expertise HQ-EM Connect Broad Global Network Leadership Building Program

• Open communication between

Expats bring in with them : • Relocated expats have strong • Expats help in nurturing local
headquarters and the emerging
• Strong technical knowledge networks talent for the future, while the
market centre
• Strong product knowledge • Can circumvent cumbersome centre moves to higher level of
• Reduced overheads
• Strong industry knowledge processes work maturity
• Faster Integration

A leading software MNC attracts global talent to its India centre through the following initiatives:

Brown Bags A discussion forum to help the employees from US soft land in India

Ambassador
An initiative for employees to return back to the US after working for 1.5 years in an emerging market
Programs

Try it out An initiative where global talent relocate to India to experience the working culture. The firm bears all the expenses for a ~3
initiatives months including travel expense to India and a corporate apartment

58
Source: Zinnov Research & Analysis
GICs have introduced several programs to build emerging skills in-house
Challenges addressed 1 2 3
Eaton’s APAC IT Talent Accelerator Program
AIM: A leadership development program to nurture potential (in terms of Eaton's strategy, values, culture and the
Business System) of high performers (Experience of 5-10 years and 1+ years tenure with Eaton) for future leadership
roles

Talent Accelerator Program

• Strong sponsorship
from leadership team
Leadership
perspectives from Strengthening with program kickoff by
Cross-functional Self-awareness CIO each year
senior leaders on Values & Ethics, Functional Action Learning
Osmosis & assessments,
IT strategy, Eaton
networking –
External
leadership
Excellence Projects on real • Diversity in participants
career Leadership Perspectives on through challenges & with regard to gender,
Manufacturing development
development, Model, Inclusion Industry trends enhancing opportunities (2-3
Excellence, trainings & peer role, region; program
building Culture, Eaton Technical Depth months)
Finance feedback extended to APAC
organisation Business System
capability

IMPACT
• Employee Engagement -75 per cent in
Employee Survey • IT functional leadership development
• Performance Ratings of 70 per cent TAP through learning projects on real challenges
• Learning Dimension -~80 per cent in for IT
attendees
Employee Survey
• Organisation effectiveness through • Business Acumen and Technical Depth of
• Retention of high potential talent -~85 per talent within IT
implementation of project
cent retention rate of TAP alumni
recommendations from TAP participants • Talent movements facilitating cross skilling
• Exposure and visibility with senior and strengthening of technical capabilities
leaders

58
Source: Zinnov Research & Analysis
The challenges posed by Distributed Development can be mitigated using best
practices followed in the industry
Challenges addressed 4

Best practices in Distributed Tools for distributed Metrics to measure

Development development effectiveness

Purpose Tool
Timely face-to-face meetings, Collaboration
especially at the beginning of Quality NPS, CSAT score, Field
GitHub, Bitbucket, defects as a % of total
each major project Project Hosting Metrics
Stash, SourceForge defects
Git, Subversion,
Version Control
Perforce, Mercurial
JIRA, FishEye, Story points / FTE /
Daily 15-minute scrum Code Review Productivity
Mondrian Month, % reuse of
meetings Metrics
Continuous Integration Bamboo, Jenkins components

Knowledge
MS Sharepoint
Management
Communication Slack, Cisco Jabber Timeline Sprint velocity, % on-
Modularity of code is critical Metrics time product releases
to success Project & Issue Management

Project Management Jira, Confluence

Issue Tracking Trac, Jira, ScmBug

60
Source: Zinnov Research & Analysis
Innovation enablers include creation of special roles, technical leadership programs,
strong HQ sponsorship and availability of good tech/domain talent
Challenges addressed 6

Focus Enablers Outcome

UK Banking and PoC, prototype development, evaluate

Unified Technology Innovation Carved out a special leadership role in
Financial Services firm Platform India centre - Head of Innovation
new tools/technologies; for e.g.,
Hadoop evaluation

Has special programs for building Virtual Infrastructure deployment at

US based Investment
Idea Stock Exchange & Idea Builder technical leadership – The Architect India centre is a case study for the
Banking firm Development Program (ADP) program enterprise

Sponsorship at executive leadership level Built a product built in India for India –
American Financial Customer Driven Innovation – one of the mandates for VP & MD of creates a peer-peer market place for
Software maker India is to build products in India for India farmers in India using SMS

Internet Banking Platform and Core

End to end ownership for testing and
UK Banking giant Exclusive Testing Lab Banking Solution developed by India
development of specific product lines
centre

61
Source: Zinnov Research & Analysis
GICs are hosting events to generate innovation ideas while providing exposure to
Indian talent
Challenges addressed 3 6

The Intel India Embedded Challenge (Intel IEC): 3D Student Design Challenge: Design competition for students under
• Embedded design contest to architect, design and develop novel two categories-
embedded applications based on Intel Architecture Processors in areas 1. Architecture Engineering Construction (AEC)- Design contest in the field
such as Consumer Electronics, Digital Security Surveillance, Medical, of architecture, engineering and construction using the Autodesk
Storage etc. portfolio of products such as Autodesk AutoCAD etc
• Students, interested individuals and entrepreneurs from all over India can 2. Manufacturing- Design contest to help find innovative solutions to real-
participate world problems using the Autodesk product solution for Digital
Prototyping comprising Autodesk AutoCAD, Autodesk Inventor, etc.

The Great Mind Challenge (TGMC):

• A contest to develop solutions for real-time problems and scenarios using TI MCU Design Challenge India:
IBM open source software with an aim to encourage students to develop • The contest aims at promoting IC-based system design based on TI’s series
applications on cutting-edge IBM technologies of microcontrollers such as Tiva, Hercules
• TGMC promotes students from engineering colleges from across

62
Source: Zinnov Research & Analysis
R&D GICs have been able to deliver considerable value by establishing technical and
functional CoEs
Challenges addressed 6

Establishing and consolidating CoE presence

GICs are focusing on increasing ownership that

rests with established COEs
GICs are focusing on establishing of technical
and functional CoEs India centre of leading automotive component
manufacturer continuously sought to have more
Leading automotive component manufacturer responsibility for CoEs. Currently, India centre has
15–20 CoEs based out of India centre. CoEs are a complete ownership of 30-40 per cent of all
mix of both technical and functional, including COEs CoEs within the organisation globally
for HMI , Bluetooth, UX design, data analytics, surface
finish, product testing & validation, etc. Establish Increase
technical & ownership
functional levels at
Hardware & Software solutions provider CoEs CoEs
India centre has technical CoEs for Oracle and SAP.
Functional CoEs include CoE for quality, business, GICs identify niche/differentiated skill-sets
globalisation and commerce Identify niche required that will make for a stronger case for
skill-sets to CoE establishment
facilitate CoE
establishment India centre of electricity distribution and
automation management has a dedicated program to
increase presence of niche skill-sets across technical,
solutions and manufacturing domain
Centres have also established presence of niche skill-
sets form of data scientists, UX designers, SMEs,
etc.

63
Source: Zinnov Research & Analysis
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
64
Around 80 per cent of the Global 2000 firms are yet to leverage the India opportunity

MNCs having GICs in India from the Regional Split of Global 2000 firms with
Largest Global 2000 firms GICs in India

Global 2000 28% 22% 1% 10% 5%

firms with GIC
in India
1,617

Global 2000
329 firms without
GIC in India
54

North America Europe LA&MEA APAC Japan

Number of
Has GIC in India No GIC in India Indian HQed Firms MNCs from
Global 2000 in 631 515 145 483 226
the region

• More than 1,600 firms have not leveraged the India advantage yet
• North American firms have the highest penetration with over 176 firms having a GIC in India, followed by European firms

65
Source: Zinnov Research & Analysis
GICs have multiple opportunities in the digital transformation journey across verticals

Customer Workforce &

Operational Supply Chain Digital Products &
Targeting & Partner Risk Management
Excellence Optimization Services
Engagement Collaboration

Retail

BFSI

Telecom

Healthcare

Energy & Utilities

M&E

T&H

GIC Opportunity: High Medium Low

Note: Content reproduced with permission from Persistent Systems; M&E: Media & entertainment; T&H: Travel & Hospitality
66
Source: Zinnov Research & Analysis
Participation of GICs in digital transformation requires talent to be multi-skilled

Now Future..
Current TCP* Model - T Model Faster time-to-market is Future TCP Model - Model
leading the wave of change

Tech
Stack
…. O.S/ Infra Mobile Data O.S/ Infra Mobile Data …. Tech
Stack

Traditional
Mobility Mobility O.S / Infrastructure

New Age Digital Model

Traditional

OR

Data OR
Model

OR
Model

OS/Infrastructure Data
App Framework
OR

App Framework

• It required in-depth understanding of one area of the stack such as • Depth of understanding in at least two areas of the technology stack
mobility or application framework, etc. such as Data as well as App framework
• It had distinct roles for development, quality assurance, etc. within a • Continuous integration is leading to amalgamation of functions such as
single stack area development and quality assurance
*TCP – Technical Career Path
Note: Content reproduced with permission from Persistent Systems
67
Source: Zinnov Research & Analysis
The next phase of evolution of GICs…

Transforming into a global sourcing hub for the organisation’s entire IT and business process needs
will become a key aspect of the GIC’s charter

GICs set to become the hub for digital and futuristic products for the global corporate

Focus on business value and innovation supported by high quality talent, technology and leadership

Evolve from being enablers of business to being strategic business partners

Single-function GICs will expand into other functions; new centres will be setup as multi-function
centres

Partnerships between GICs and ecosystem players will become deeper and wider

68
Source: Zinnov Research & Analysis
 1 Executive Summary

2 GIC Landscape: End-to-end presence

3 Trends: Reinventing value in a digital world

TABLE
OF 4 Digitisation: GICs emerging as digital hubs
CONTENTS
5 Drivers, Challenges and Best Practices

6 Future Outlook: Embracing Change

7 Appendix
69
List of GICs

1stFinanicalBank USA Air Liquide S.A Altair Engineering Apache Design Solutions
3dPLM Airbus Altera Corporation Apigee
3M Airbus Defence and Space Amada Co AppDynamics
A.T. Kearney AIRCOM Amadeus Applied Materials
Aavid Thermalloy AirTight Networks Amazon.com Applied Research Works
ABB Airvana Amber road Aptean Corporation
Abbott AirWatch Applied Micro Circuits Corporation Apttris
Absolutdata Akamai AMD Arada Systems
Accenture Technology Labs Aker Solutions Amdocs Aranca Inc
Acellere GmbH Akzo Nobel American Axle & Manufacturing arasan
ACI Worldwide Albany Molecular Research Inc. American Express AREVA
Actavis Plc Alcatel Lucent American Megatrends ARIBA
Actiance Inc Alcon Ameriprise Financial @ris global
Actifio Alent plc AMETEK ARISTA
Adap.TV Alepo Amgen ARISTOCRAT
Adeptia Alexion Pharmaceuticals Amneal Pharmaceuticals arkieva
adidas Alfa Laval Amphenol Interconnect India ARM
Admiral Group plc Allegion Plc Analog Devices ARRIS
AdNear Allergan ANDRITZ Arrow Electronics
Adobe Systems Incorporated Allianz Cornhill Information Services Anritsu ARS Traffic & Transport Technology
ADP Allscripts Healthcare Solutions Ansaldo STS Aruba Networks
Advantedge Technologies Allstate Ansys, Inc Arvin Meritor
Agilent Technologies Alphion ANZ Ashland Inc.
Agility Alsbridge AOL Inc. Aspect Software
AGNITY Alstom Aon Hewitt AstraZeneca plc

70
List of GICs

AT&T Banca Sella BlackRock CA Technologies

ATC Labs Bank of America Bloom Energy Cadence Design Systems
athenahealth Bank of New York Mellon Blue Coat Systems Inc CADS
Atherio Barclays BMC Software CAE
Atlas Copco Barco N.V. BNP Paribas CallidusCloud
Atmel Corporation Barracuda Networks The Boeing Company Calypso
Atrenta Barry-Wehmiller International Resources Bombardier Calypto Design Systems
Audience BASF SE BooleanTree Technologies Cambium Networks
Aurea BASF Schweiz AG BorgWarner Inc Cameron International
Aurigo Software BASH Gaming Borland Software Corporation CAMO Software India Pvt Ltd
Autodesk Bastian Solutions Borqs Canon
Autoliv Basware Corporation Robert Bosch Caparo
Avalara Baumer Boston Analytics Capco
Avaya Inc Baxter International Inc Boston Consulting Group Capgemini Business Services
Avery Dennison Corporation Bayer BP S&P Capital IQ
AVEVA Group plc B/E Aerospace Bristol-Myers Squibb Capital One
AVL Bechtel Corporation British Council CareFusion
Avnet, Inc Beckman Coulter BT Group Cargill
AwareBase Becton, Dickinson and Company Broadcom Corporation Carl Zeiss
AXA Bekaert Broadridge Financial Solutions Carraro Group
Axionet Bentley Systems BroadSoft Carrier
Azul Systems, Inc. Bernhard Schulte Shipmanagement Brocade Communication Systems Case New Holland Construction Equipmen
Azuqua, Inc BISIL Brose Fahrzeugteile CAST
Bain & Company India BiTMICRO Networks BroVis Wireless Networks Caterpillar
Bally Technologies Bunge Limited Causeway Technologies

71
List of GICs

Cavium Networks The Colgate-Palmolive Company Credit Suisse Dell

CEB CollabNet CrimsonLogic Pte Deloitte Touche Tohmatsu Limited
Cegedim COLT Technology Services Cross-Tab Delphi Automotive PLC
Cellworks Group CommVault Systems C-Sam Delta Electronics
CenturyLink, Inc. Comodo Group CSG International Denso
Cerillion Comverse Technology CSR DenuoSource
Cerner Corporation Conax AS Cubic Transportation Systems Deutsche Bank
Chain-Sys Corporation Concur Technologies Cummins Dialogic
Checkpoint Systems Concurrent Technologies Cumulus Systems Diebold
Chelsio Communications Condeco Cvent Digi International
Ciena Corporation Conexant Systems CVM Solutions Digital Juice
CIGNEX Datamatics Continental Cyberoam Technologies Digite
Cigniti Inc. Control Components Inc. Cypress Semiconductor Diyotta
CipherCloud Copal Amba Daiichi Sankyo Doosan Babcock
Cisco Systems Cornet Technology Inc. Daimler Dover Corporation
Citibank Corning Inc. Dana Holding Corporation Dow Chemical
Citius IT Solutions Private Limited Cortera Danfoss Dresser-Rand Group
CitiXsys Americas Inc. Cortina Systems Danske Bank Dun & Bradstreet
Citrix System Courion Corporation Dassault Systèmes Dun & Bradstreet Tangram
Claas Covidien Dataworld dunnhumby
Clariant COWI A/S Dattus DuPont
ClickSoftware Technologies CPA Global D. E. Shaw & Co DVTEL
CloudByte Inc. CR2 Deem DXCorr Design Inc.
CMA CGM Cradle Technologies Delcam EagleBurgmann
The Coca-Cola Company Craft Silicon EASi

72
List of GICs

Eaton Corporation Plc Equifax Inc. Exxon Mobil Corp. FLSmidth & Co. A/S
eBay Inc. eRevMax Inc. Facebook Fluor Corporation
Ebix, Inc. Ericsson FactSet Research Systems Inc FMC
ECI Telecom E-ring Software Solutions Fairchild Semiconductor International Inc FMC Technologies
eClinicalWorks Ernst & Young Global Limited FANUC INDIA Private Limited The Ford Motor Company
Edifecs, Inc. ERP and ERP corp Fareportal Inc Forrester Research
Electronics For Imaging, Inc. Esko-Graphics FastVDO Foxconn Technology Group
EFKON India Pvt. Ltd. ESPN Faurecia Foxfire Technologies
eGain Corporation Esterline Souriau Technologies Federal-Mogul Corporation FranConnect
eInfochips ETAS Automotive India Pvt Ltd FEV Franklin Templeton Investments
EiQ Networks, Inc. Etisalat Fiat Chrysler Automobiles Freescale Semiconductor
Eisai Euronet Worldwide Fiberlink Communications Fresenius Kabi
ELANTAS Beck Evalueserve Fair Isaac Corporation Fresenius Medical Care
Electronic Arts, Inc. Everest Software Fidelity Investments Frost & Sullivan
Eli Lilly and Company EvolveWare Finisar Corporation Fujitsu
Ellucian Company L.P. Evolving Systems Fiorano Software Fulcrum Worldwide
EMC Corporation Evonik Degussa Corporation FireEye Inc. Fundtech India Ltd
Emerson Electric Excelacom Firetide Galata Chemicals
EMIS Group exëvo Firmenich Gamesa Corporación Tecnológica
Emulex Corporation EXFO First American Financial Corporation The Gap, Inc.
EnSilica Exor First Insight Corporation Gartner, Inc.
Entercoms, Inc. Expedia, Inc. FirstRain General Electric
EnterpriseDB Experian plc Fiserv, Inc. Gemalto
Entrust Datacard Corporation Expertus Flextronics International Genband
Extreme Networks Flowserve Corporation General Mills Inc.

73
List of GICs

General Motors Company Guavus Hydro Building Systems Information Services Group
Genesys International Corporation Gunnebo Hysitron InfoStretch Corporation
Genzyme Corporation GXS Hyundai Motor Company Ingersoll-Rand Inc.
Gerson Lehrman Group Haier Group IBM Ingram Micro
Giesecke & Devrient Halliburton Company Icertis InMage
Gilbarco Veeder-Root Harman International Industries IDeaS Innovative Interfaces
GKN plc Harsco Corporation Identiv, Inc. InsideView
Glassbeam, Inc. Hatch IDrive Inc. Instancy
GlaxoSmithKline Pharmaceuticals hCentive, Inc. iFlect Technologies InSync Software
Global Analytics Heidrick & Struggles International IG Infotech INSZoom
Global Automation, Inc. Incorporated IHG IT Services Intacct Corporation
GEP (Global eProcure) HELLA KGaA Hueck & Co. IHS Inc. Integral Development Corp.
Global Graphics SA Henkel AG & Company Ikanos Communications, Incorporated Integrated Device Technology
Global Wireless Technologies Hexagon Imagination Technologies Group plc Integreon
GlobalScholar Hibu, Inc. Imergy Power Systems Intel Corporation
The Goldman Sachs Group, Inc. Hitachi Impelsys Intellect SEEC, Inc
Google Hoerbiger Holding AG Impiger Technologies IDC (International Data
Grant Thornton LLP Honda Motor Co. Indra Networks Corporation)
GrapeCity, inc. Honeywell International, Inc. Infineon Technologies Interra Systems
Groupe SII Hospira, Inc. Infinera Corp Intersil Corporation
Groupon HostAnalytics Infiniti Research Intertec Systems
Grundfos Hewlett-Packard Infogrid Pacific Inteva Products (LLC)
Grupo Antolin HSBC Holdings plc InfoPro India Pvt Ltd Intuit
Game Show Network Huawei Technologies Co. Infor Invesco
GT Nexus Huntsman Corporation Informatica Corporation IPsoft
Husco International ip.access
74
List of GICs

Ipass Kensium Landmark Group M*Modal

IRDETO Key Point Technologies Lantiq Macom Technology Solutions
Iron Mountain Keysight Technologies Lanxess Macquarie Group
ISG Nova Soft Technologies Ltd KeytoneTechnologies Latens Systems Maersk
Isoft Kirusa Lear Magic Software
ITT Corporation KLA-Tencor Legrand Magna Steyr
ITW Knorr-Bremse Leica Microsystems Mahle Behr GmbH & Co
Ixia Kodiak Networks Lennox International Inc. Makhteshim-Agan
Jabil Kofax Lexmark Makino
Jacobs Engineering Group Komatsu LG MangoApps
Jardine Lloyd Thompson Konecranes LGL Manhattan Associates
JCB Konica Minolta Librato Mann+Hummel
JDA Software Kony Labs Life Technologies Mara-Ison
JDS Uniphase KPMG LBrands Markem-Imaje
Jean Martin Kronos LinkedIn Marvell
Jigsee Kuka Systems Lloyds Bank Mastercard
Jivox Kuoni Travel Group Lockheed Martin MathWorks
John Deere L-1 Identity Solutions LogiTech Mavenir Systems
Johnson & Johnson L1 Technologies Lombardini Maxim India Integrated Circuit Design
Johnson Controls Inc L-3 Communications Longcheer Maxlinear
Jouve Labvantage LOréal McAfee
JP Morgan Chase Lafarge Lowe's McKinsey Knowledge Centre
Juniper Networks Laird LSI Logic Mediaocean
Kaseya Lam Research Lubrizol MediaTek
Kennametal Landis+Gyr M&S Medline

75
List of GICs

Medtronic Mitsubishi Chemical Napier Healthcare Nokia Networks (Erstwhile Nokia

MegaChips Mitsubishi Electric Narus Solutions and Networks)
Meinhardt Group Mitsubishi Hitachi Power Systems Nasdaq OMX Nomura
Mentor Graphics Mitsui O.S.K. Lines National Instruments Nordson Corp
Mercer m-ize Navionics Northern Trust
Merck Millipore MobileComm Technologies Navis Novartis
Meridium Mobileum Navisite Novel IP
Meru Networks Mobily NBC Universal Novo Nordisk
Methode Electronics Hyundai Mobis NCR Novozymes
Metlife Mobius 365 Knowledge Services NEC NTT Communications
MetricStream Molex Nektar Therapeutics NTT Data
MetrixLab Momentive Neo Group NTT Data FA Insurance Systems
Metro Global Business Services Mondelez International Neomagic NUMECA
Metso Monotype Imaging Neptune Software Plc Nutanix
Mformation Monsanto Nestle Nvidia
mGage Moody's Shared Services India NetApp NXP
Micro Focus International Moog Netgear o9 Solutions
Microchip Technology Morgan Stanley NetScout Systems Ocwen Financial
Micron Technology Motorola Mobility Nextbrick Odessa Technologies
MICROS Systems Movius Intercative Corporation Nielsen Olam International
Microsemi Corporation Mportal Nike Omnicell
Microsoft MSC Software Niksun On Semiconductor
Midas MSCI Nimbuzz OneAccess
Mindcrest Mylan Nissan Motor OneOcean Corporation
Misys Nalco OPAL-RT Technologies

76
List of GICs

Open-Silicon PeopleFluent Pronto Networks Royal Bank of Scotland

OpenText Perfomix Technologies Intl Pvt Ltd Proxim Wireless Read-Ink Corporation
Opera Solutions Performix Solutions Prudential Financial Real Soft Inc.
OpSource Perpetuuiti TechnoSoft Prysm Inc. RealPage
Oracle Perrigo Company plc Publicis Groupe Reckitt Benckiser
Orbees Perstorp Puratos Red Hat
Oriflame Petrofac PwC Redknee Solutions
OSI Systems Pfizer Pyramid Technology Solutions RedMart
OSRAM Licht AG Phaeros QAD Redpine Signals
Owler PharmaSecure QL2 Reed Elsevier
Pace Plc Philips Qlogic Corporation Relgo
PacketVideo Corporation PHYTEC QSI Healthcare Renault S.A.
Palantir Solutions Piaggio & C. SpA Qualcomm Renault-Nissan Alliance
Pall Corporation Pitney Bowes Software Quantum Corporation Renesas Electronics Corporation
Panamax Inc. PMC-Sierra Quark Software Replicon
Panasonic PointCross QuickLogic Corporation Ricoh
Pangea3 Polycom QuinStreet Rio Tinto Group
PanTerra Networks Portescap Qvantel Riverbed Technology
PTC Praxair RR Donnelley & Sons Riversand Technologies
Parasoft Corporation Preactor International Radisys Corporation RM Education
Parker Hannifin PRGX Global Radware RMSI
Payoda Principal Financial Group Rakuten Roche Diagnostics
PayPal Procter & Gamble Ramboll Group A/S RockeTalk
Pegasystems Progress Software Corporation Rambus Rockwell Automation
Pentair Razorsight Rockwell Collins

77
List of GICs

ROHM Semiconductor SKF sTec

SAS Institute
Rolls-Royce Limited SkillSoft Steria
Satmetrix
Rovi Corporation Sling Media Stoke
SCA Technologies
Royal DSM SmartAnalyst Stryker
ScaleArc
Ruckus Wireless Smartesting Süd-Chemie
Schaeffler Group
Rusada SmartStream Technologies SumTotal Systems
Schindler Group
Saab AB Snap One SunEdison
Schlumberger
Saama Technologies Snecma S.A. Sun Life Financial
Schneider Electric SE
Saba Akana (Erstwhile SOA Systems) Sun West Mortgage Company
Scholastic
SABIC SOBIS Software SunGard
Sconce Solutions
Sabre Corporation Société Générale support.com
SeaChange
SafeNet Infotech Software AG Suzuki
Sears Holdings India
Safran S.A. Solix Technologies Swiss Re Shared Services
SeatonCorp U.S.A.
Saggezza Solvay Symantec
Seco Tools
Sagitec Sonim Tech Synaptics
Serus
Saint-Gobain S.A. Sonus networks Synaptris
ServiceMax
Salesforce.com Sony Syncfusion
Sharp Corporation
Samsung Spacelabs Healthcare Synchronoss Technologies
Royal Dutch Shell
SanDisk Corporation Spraying Systems Syngenta
ShoreTel
Sandvik STMicroelectronics Syniverse
Siemens AG
Sandvine Stabilix Synopsys
Siemens PLM
Sanmina Corporation Stadco Automotive Synygy
Sigma-Aldrich
Sanofi S.A. Standard Chartered Syrolution ABS
SignalChem
SAP Labs Starhome Mach System Consultant Information
Silicon Image
Sartorius AG State Street Target
SILVER ATENA
Time Inc. India
78
List of GICs

TE Connectivity Thomson Reuters Uniken,Inc Visteon

TeamF1 Tibco Unilever Vitesse Semiconductor
Technicolor S.A. Timken United Health Group VMware
Technip S.A. TNS United Online Vocera
Tecnotree Tomax United States Pharmacopeia Vodafone
Tecra Systems Tomtom NV United Technologies Corporation Volkswagen
Tekla Toshiba UOP LLC Volvo
Tektronix Total S.A. Utopia Vsoft
Telenity Towers Watson UTStarcom WABCO
Tellabs Toyo Corp Vacon @WalmartLabs
Temenos Toyota Valeo Walt Disney
Tenneco Transera Communications Valvoline Wärtsilä
TEOCO Transparent Value Vanu Waveaxis LLC
Teradata TranSwitch Corp Varian Medical Systems Wells Fargo
Terex Travelex Vector Software Western Union
Terumo Penpol Trelleborg AB VeriFone Holdings Whirlpool Corporation
Tesco Tribal Fusion Verint Systems William Hare Group
Teva Pharmaceutical Trimble Navigation Verisign Willis Group Holdings plc
Texas Instruments Triple Point Technology Verizon Communication WinFashion Technologies
Textron Trivent Legal Vestas Winshuttle
Thales TriVium Systems, Inc VinChip Systems WMS Industries
The Smart Cube TT Electronics Virident Wolters Kluwer
Theatro Twitter Virtela Workplace Options
Thermo Fisher Scientific Tyco International Visa World Bank
ThinkAnalytics UEI Electronics Pvt Ltd Vistaar Technologies Xalted Information Systems

79
List of GICs

Xerox Zynga
Xilinx
X-IO Technologies
XL Group plc
XMOS
Xybion Corporation
Yagna iQ
Yahoo!
Yamaha Motor
Yardi Systems, Inc
Yaskawa Electric
Yodlee
Yokogawa Electric
Yum! Brands
Zebra Technologies
Zedo
ZeOmega
ZF Friedrichshafen
Zimbra
Zoniac
Zscaler
ZTE
Zurich Insurance Group
Zycus
Zyme Solutions

80
81