INTERVIEW
“Indian culture EMBRACES foreigners. People go out of their way to make you
feel welcome. Any visiting BUSINESSPERSON would recognise that characteristic”
Vallance does share at least one business philosophy with his thrusting Indian counterparts, that the UK is ripe for Indian investment. He’s turned the principle of outsourcing – shifting high-volume business processes to low-cost countries – on its head, by investing heavily in the UK. “When we started out, we were very much an off- shoring company,” he says. “Now we’re an outsourcing company.” While many business functions are likely to remain in low-cost countries such as India or the Philippines, Vallance has found that clients prefer a choice of locations so that they can decide which functions are best carried out offshore and which are better performed closer to home. “If a business process is ill-defi ned, or ill-documented… or involves adjudication, that sometimes has to be done locally,” he adds. With 30 per cent of his business coming from the UK, Vallance has taken the decision to base himself in London, travelling to Mumbai for roughly one week each month. He also visits the US frequently, a market that accounts for more than half of Firstsource revenues. “There is no perfect place to be located, but it makes sense for the leadership of the organisation to be based where the clients are.” As the UK’s time zone fi ts neatly between his US-based clients and his Indian workforce, Vallance can effectively communicate with all Firstsource stakeholders from his offi ce in Hammersmith.
KEEPING LEAN
A punishing schedule, to be sure, but the fresh-faced Vallance shows no ill-effects from his inter-continental commute. He fl ies overnight to Mumbai and exercises as soon as his feet hit the ground. This is on top of his regular bicycle ride from home to the London offi ce. “Getting regular exercise is absolutely vital. It’s a great cure for jet lag,” he says. It also appears to counter a surfeit of heavy business dinners,
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as the 43-year-old boasts the lean build of a long-distance runner. “A big challenge is around eating healthily, making sure you don’t overeat”, he adds. Vallance also points out that socialising outside offi ce hours is more commonplace in India and that a warm welcome from the local staff is one of the delights of working there. “Indian culture embraces foreigners,” he says. “People go out of their way to make you feel welcome. Any visiting businessperson would recognise that characteristic.” In fact, Vallance experienced greater “culture shock” during a postgraduate placement in France, although he admits that this may have had more to do with the challenge of operating in a foreign language. “I can get by perfectly well with English in India,” he states. The UK’s linguistic and cultural ties to India – from similar accounting and legal systems, down to a shared love of cricket – give British businesses a huge advantage over international competitors in establishing a foothold there. Small and mid-sized cross-border companies – what Vallance refers to as micro- multinationals – shouldn’t shy away from exploring opportunities in India. “There is no reason that a small, locally based company should think that India has no relevance to them,” he advises. But for Firstsource further expansion in the UK is a top priority. “I certainly hope and expect us to continue to expand and increase our investment in the UK market,” says Vallance. “It’s an easy place in which to do business.”
BETTER, CHEAPER And the future for outsourcing remains extremely bright, particularly as the economic outlook remains uncertain. “Companies are increasingly asking themselves, ‘can this be done better at a lower price?’” says Vallance. It’s not just companies looking to save money by cutting out non-core operations, he adds. With economies across the globe in fi scal straightjackets, businesses may be soon beating a path to the outsourcers’ doors. ■
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