Quess Corp

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Quess Corp Limited (Quess) is one of the fastest-growing global business services providers, headquartered in Bengaluru, India. Founded in 2007, Quess Corp has acquired more than 23 businesses since inception, making it a leader in the staffing and business services industry. From end-to-end workforce management to integrated facility management services to omnichannel customer life cycle management to technology and digital IT solutions; Quess Corp is India’s largest business services platform across processes. Quess Corp provides tech-led solutions such as HR & F&A operations, IT & mobility services, facilities and security management, back-office operations, manufacturing operations, sales & marketing, after-sales service, and customer care to organizations across the world. Quess Corp became the youngest organization in India, to cross 2,50,000+ headcounts in the staffing industry in September 2021. Currently, the company has more than ~4,22,000 (as of 31st December 2021) employees working across verticals, businesses, and locations in India, Southeast Asia, and North America. [1] [2] [3] .[ citation needed ] [4]

Contents


Quess Corp Limited
Type Public
FoundedSeptember 2007;14 years ago (September 2007)
HeadquartersBengaluru, India
Area served
North America, South America, Middle East and South East Asia
Key people
Ajit Isaac (Non-Executive Chairman)
Services Workforce Management, Operating Asset Management, Global Technology Solutions
Website www.quesscorp.com

History

Incorporated then as IRIS Human Capital Solutions Pvt. Ltd., on September 19, 2007, in Bengaluru, India. The company’s name changed from IRIS Human Capital Solutions Pvt. Ltd to IKYA Human Capital Solutions Pvt. Ltd and a fresh certificate was issued by RoC on October 15, 2007. Thus, the Quess Corp we know of today celebrates its anniversary on October 15.

IKYA Human Capital Solutions Pvt. Ltd started as a manpower outsourcing company in 2007. In 2008, the company became the youngest player in the market to acquire Avon Facilities Management Services (now Quess Integrated Facilities Management Services) and expand the line of business. Soon after the takeover of Avon Facilities Management Services, the company saw a substantial investment coming in from Park Equity Holdings Limited to further the business line and expand capabilities. Thus, the investment helped Quess Corp acquire 2 key organizations from the Staffing & IT Staffing industry between 2009 & 2010 – Coachieve and Magna Infotech to form a syndicate of success for the coming years.

In 2013, Quess Corp saw yet another overseas organization – Fairfax Financial Holdings, led by Prem Watsa make an investment in the business. [1] [4]

IKYA Human Capital Solution Pvt Ltd – IKYA Human Capital Solutions Ltd

Under a special resolution of the Shareholders dated May 14, 2013, the Company was converted into a public limited company and the name of the Company was changed to IKYA Human Capital Solutions Limited. [1]

IKYA Human Capital Solutions Ltd – Quess Corp Ltd

On 19 January 2015, announcement was made to indicate ambition and explore new shores and opportunities, IKYA Human Capital Solutions Ltd rebranded and repositioned itself as Quess Corp Ltd. The term ‘Quess’ symbolizes perseverance, the drive for progress and discovery of new frontiers. [1] [5] [6] [7]

Leadership

Quess is steered by the vision and experience these industry veterans bring to the table. A look at the leadership team that drives the vision and mission of Quess. From seasoned professionals to industry veterans, these are the leaders that steer Quess to success.

Non-executive Chairman

Ajit Isaac is the founder and presently non-executive chairman of Quess Corp. A gold medalist and British Chevening Scholar from Leeds University, he has spent over 10 years in leadership roles in the private sector. As the CEO & MD of Quess Corp (then IKYA), he was actively involved in partnering with Fairfax in 2013. Under his leadership, the company went public in 2016, with a record-breaking IPO oversubscription of 144x. He was nominated for the 'India Forbes Leadership Award' in 2011 and was voted the finalist in the 2016 Ernst & Young Entrepreneur of the Year award.

Executive Director & Chief Executive Officer

Guruprasad Srinivasan is the Executive Director & Chief Executive Officer of Quess Corp. He has been associated with Quess since its inception in 2007. He has over 20 years of experience in the service industry in Strategy, Sales, Planning & Operations and Business Development. He holds a Bachelor’s degree in Commerce from Bangalore University and a Master's degree in Business Administration from Karnataka State Open University. He also has a Stanford Ignite Certification from the Stanford University Graduate School of Business.

Chief Financial Officer

Ravi Vishwanath is the Chief Financial Officer of Quess Corp. An industry veteran, he has over 30 years of experience in Finance, Taxation, Corporate Law, and M&A. Ravi is a Fellow of the Institute of Chartered Accountants of India and holds a Bachelor’s degree in Commerce from Bangalore University. [8] [9]

Business Platforms

Workforce Management

Quess Corp is a globally recognized workforce management services provider, offering end-to-end HRO services, staffing solutions, talent acquisition, payroll compliance, skill development and training, and managed workforce solutions. The workforce management vertical of Quess Corp further branches out into five key services that drive growth:

Operating asset management

This business vertical of Quess Corp focuses on longevity and competency of a company’s assets for seamless functioning. The vertical offers services ranging from integrated facilities management, technology-enabled manned guarding, e-surveillance, command center-led business solutions, food and corporate catering, after-sales and industrial maintenance, asset & data management, cellular services, pest control, and hospitality services. The operating asset management vertical of Quess Corp offers four key services to stand tall on its promise:

Global technology solutions

Also known as Quess GTS, this business vertical focuses on building modern-age technology solutions to solve complex business problems, and achieve optimal efficiency in enterprise processes. Quess GTS is highly customer-centric, and offers a range of solutions such as digital transformation and automation, cybersecurity, insurance processing life-cycle management, BPO, and more to a global audience. The key services branch out as below:

Emerging business – Digital transformation and automation are at the core of Quess Corp, and to further this idea, the organization has developed new-age technology that makes life at work, easy. Whether it is finding a job or candidate, after-sale services, or employee management, the suite of emerging business solutions from Quess Corp are compelling.

Financials

The financial outlook of Quess Corp from 2015-2021.

YearRevenuePAT
FY 2014-15INR 2574.80 CrINR 68.89 Cr
FY 2015-16INR 3435.01 CrINR 81.18 Cr
FY 2016-17INR 4157.36 Cr113.44 Cr
FY 2017-18INR 6167.26 CrINR 309.76 Cr
FY 2018-19INR 8526.99 CrINR 256.55 Cr
FY 2019-20INR 10991.5 CrINR 283.5 Cr
FY 2020-21INR 10836.9 CrINR 245.1 CR

[14] [15] [16] [17] [18] [19]

IPO Details

Listing At Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) [21] [22]

Acquisitions

Quess has made 23 acquisitions and investments since its inception in 2007 [23] . Key ones are given below:

Year Acquisition Details [4] [1]

Year of AcquisitionBusiness Acquired
2008Avon, a facility management company
2009Coachieve, a human resources solutions company
2010Magna Infotech, an IT staffing company
2014
  • Hofincons, a consulting and asset management services company
  • Brainhunter, an IT solutions company
  • Acquired 49% stake in MFX, an IT infrastructure company
2015Aravon, an integrated facilities management company
2016
  • Randstand Lanka, a staffing and human resources solutions company
  • Acquired balance 51% stake in MFX, an IT infrastructure company
  • Acquired 49% stake in Terrier, entering Manned Guarding and Security Solutions Business
  • Acquired majority stake in Inticore, entering into advanced engineering solutions
2017
  • Greenpiece Landscapes
  • Acquired 64% stake in Comtel, largest IT Staffing player in Singapore
  • Acquired 70% stakes in Vedang Cellular Services Private Limited [24]
  • Acquired TATA Business Support Services Limited (TBSS), now called ConneQt Business Solutions
2018
  • Monster (APAC & Gulf)
  • HCL’s care unit, Touch
2019
  • 61.35% stake in Allsec Technologies
  • Acquired additional 18.71% stake in Vedang Cellular Services Private Limited [25]
2021
  • 49% equity shares in Taskmo [26]
  • Acquired additional 3.76% stake, total holding stands at 92.47% in Vedang Cellular Services Private Limited

Offices and Locations

A list of Quess locations across the globe [27] :

International

India

Sports

In 2018, Quess Corp invested in one of the oldest and most popular football clubs in India, East Bengal FC to promote and support football as a sport in India. The then 98-year-old football club was renamed Quess East Bengal FC (QEBFC). The collaboration, however, ended in July 2020 due to irreconcilable differences. [28] [29]

Philanthropy

Quess actively contributes to the welfare of the community and creates a positive impact on the lives of people through Care Works Foundation (CWF). The foundation was established in 2014. Through its focus on healthcare and education, CWF aims to build a healthy and educated workforce and thus provide a sustainable livelihood for the marginalized sections of society.

In 2015, The Ministry of Education - Government of Karnataka, established a partnership with Quess to augment and enhance government-owned schools across the State. As of 2021, Quess is working with 75 government schools across Karnataka and Tamil Nadu, building infrastructure, including basic amenities such as toilets, labs, electricity, and clean drinking water, benefitting 13,500 students. [30] [31]

Sustainability

Through its ~4,22,000 (as on 31st December 2021) strong workforce, Quess Corp contributes to the cause of economic and social sustainability in India. The conglomerate has launched multiple initiatives in tandem with the cause. Here are some of the major projects that Quess Corp has managed and executed [32] [33] :

Awards & Recognition

  1. Ranked 2 amongst India’s largest employers by Burgundy Private Hurun India 500, 2021 [34]
  2. Diversity Champion (Search & Staffing) LinkedIn Talent Awards 2021 [35]
  3. Ranked 100 in BW real 500 ranking non financial sector
  4. Amongst the top 5 leading Women Employers in India by Burgundy Private Hurun India 500, 2021 [34]
  5. Quess was certified a Great Place to Work in 2022 for the third consecutive year. [36] [37]
  6. Quess Staffing became the youngest organization to cross 250,000 headcounts in 2021 [38]
  7. Quess was named amongst the Top 10 HR Tech solution providers in India by the Enterprise World magazine in 2021. [39]
  8. Quess was ranked 48 in SIA’s top 100 largest global staffing firms in 2021. ·
  9. Quess was ranked 137 in the Fortune India 500 list in 2021. [40]
  10. Quess was recognized as one of the most promising brands by the Economic Times in 2021. [41]
  11. Quess was certified as a Great Place to Work® for the year 2021 by Great Place to Work Institute, India.
  12. Quess was Ranked 50 on SIA top global Staffing firms for 2020. [42]
  13. Quess has been certified as a Great Place to Work® for the year 2020 by Great Place to Work Institute – India.
  14. Quess Malaysia has won three prestigious awards at the Asia Recruitment Awards 2020 [43]
    1. Best Recruitment Portal by a Recruitment Solution Provider (Gold),
    2. Best Candidate Experience by a Recruitment Solution Provider (Silver),
    3. Most Innovative Recruitment Strategy – Solution Provider (Bronze).
  15. Comtel Solutions, Singapore was recognized as Asia’s Best Employer Brand 2019.
  16. Quess was ranked 177 on ET 500 companies list [44] and 69 on SIA top global Staffing firms for 2019.
  17. Quess was recognized as the winner in the ‘Best IPO’ category of IR Awards, 2017 instituted by the Investor Relations Society of India in association with KPMG, Bloomberg and BSE. [45]
  18. Quess Chairman Ajit Isaac was named a finalist at the 2016 EY Entrepreneur of the Year Award Program in India. [46] [47]
  19. Quess was recognized as the ‘Best Partner’ two years in a row by Huawei Telecommunications for our staffing business, 2016.
  20. ConneQt Business Solutions, Subsidiary of Quess, recognized for contribution towards society by Amity CSR awards.
  21. Quess Industrials was awarded the Strategic Partner (Services) award by ZTE at its India Partners Meet, 2016.
  22. Simpliance, an associate of Quess, was recognized as the Best Start-Up for its industry leading cloud-based compliance tool at NHRD Showcase, 2016.
  23. Quess Lanka won the ‘Device Service Excellence Gold Partner Award’ from Huawei Sri Lanka for providing professional staffing services across the region, 2016.
  24. Quess Staffing was recognized as the Star Partner at HCL Global Partner Meet, 2016.

Controversies

IKEA, a furniture retail company from Sweden, lodged an affidavit with Chennai Registrar of Trade Marks against Quess, stating that IKYA, a division of Quess Corp Ltd, was using a brand name similar to theirs. IKYA Human Capital Solutions won the indictment. [48]

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