Quess Corp

From Wikipedia, the free encyclopedia

Quess Corp Limited
TypePublic
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 (Executive Chairman)
ServicesWorkforce Management, Operating Asset Management, Global Technology Solutions
RevenueINR 10,836.9 Crores (as on Mar, 2021) [1]
Number of employees
401,000[2]
Websitewww.quesscorp.com

Overview[]

Quess Corp Limited (Quess) is a leading Indian business services provider driving productivity for clients through technology-enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after-sales service, back-office operations, manufacturing operations, facilities and security management, HR & F&A operations, and IT & mobility services. The company’s passion for delivering exceptional services, augmented by proprietary digital platforms, has driven it to be one of the largest private sector employer, and the biggest integrated business services provider in India, with a strength of over 401,000 employees (as of Q2 FY ‘21-22).[3]

Quess’ business strategy is centered on developing a more productive workforce, achieved through its various initiatives, including training and skill development for better employability, helping job seekers find employment opportunities easily, digitising workflows, and enabling social security benefits for a wider population.

Established in 2007 and headquartered in Bengaluru, Quess has a presence in more than 65 offices across India and 9 countries across Southeast Asia and North America. It is listed on the Bombay Stock Exchange and National Stock Exchange of India since 2016.

Leadership[]

Ajit Isaac is the founder and 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 IP 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. [4]

Suraj Moraje is the Managing Director & Group CEO of Quess Corp. He is a tenured professional with over 20 years of global business experience. Suraj is an engineering graduate from the National Institute of Technology in Surat and a PGDM from the Indian Institute of Management in Ahmedabad. [5][6][7]

Financials[]

A financial outlook of Quess from 2015-2021. [8][9][10][11][12][13]

Date Revenue
1 Apr 2014 to 31 Mar 2015 INR 2574.80 Cr | PAT: INR 68.89 Cr
1 Apr 2015 to 31 Mar 2016 INR 3435.01 Cr | PAT: INR 81.18 Cr
1 Apr 2016 to 31 Mar 2017 INR 4157.36 Cr | PAT: INR 113.44 Cr
1 Apr 2017 to 31 Mar 2018 INR 6167.26 Cr | PAT: INR 309.76 Cr
1 Apr 2018 to 31 Mar 2019 INR 8526.99 Cr | PAT: INR 256.55 Cr
1 Apr 2019 to 31 Mar 2020 INR 10991.5 Cr | PAT: INR 283.5 Cr
1 Apr 2020 to 31 Mar 2021 INR 10836.9 Cr | PAT: INR 245.1 CR

IPO Details[14][]

IPO Date 4 July 2016 - Date of Prospectus
Issue Type 100% Book Built Issue
Listing Date 12 July 2016
Issue Size 12,618,297 Equity Shares
Face Value INR 10 per Equity Share
IPO Price INR 317 per Equity Share
IPO Listing Open Price INR 499 per Equity Share on BSE

INR 500 per Equity Share on NSE

Listing At Bombay Stock Exchange (BSE)

National Stock Exchange (NSE)

History[]

Started as a manpower outsourcing company in Bangalore in 2007, IKYA Human Capital Solutions, now Quess, was funded by Park Equity Holdings Limited in 2008. Then in February 2013, Thomas Cook (India) Limited (TCIL), promoted by Fairfax Financial Holdings, acquired a 74.85% stake in Quess, thus forging a strategic partnership with the company.

After this, Quess acquired Avon, a facility management company, thus expanding its business interests. To further diversify its business, Quess started acquiring more companies in the following years https://www.quesscorp.com/mediacontact/. From Coachieve, Magna Infotech to Monster, Quess, over the years, has invested in a multitude of companies across sectors and tech-led businesses with the purpose of becoming an ‘all weather’ business [15] [16]

The evolution of Quess company titles

Quess was initially incorporated as IRIS Human Capital Solutions Private Limited on September 19, 2007, at Bengaluru as a private limited company under the Companies Act, 1956. The Company name was changed to IKYA Human Capital Solutions Private Limited on October 15, 2007. 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. On December 4, 2014, the Company name was finally changed to Quess Corp Limited. [17]

Services[]

At Quess, every service and product is designed to deliver maximum value to clients by combining domain expertise and skilled resources with a digital-first approach. Quess’ key areas of services span across both front-end and support processes[18]

Staffing and Payroll[]

  • Payroll processing and compliance
  • Job Portal
  • Recruitment
  • Executive Search

Facility Management & Security[]

  • Integrated facilities Management Services
  • Food services
  • Landscaping
  • Security
  • Pest Control
  • Sterifumigation

Compliance Tech & Services[]

  • Labour compliance management
  • Bespoke Audit Management
  • Regulatory Compliance
  • Enterprise Risk Management
  • Environment, Health & Safety

Finance & Accounting[]

  • F&A processing
  • Reconciliation services
  • Procure to Pay
  • Order to Cash
  • Record to Report
  • Vendor Help Desk

HR Operations[]

  • Hire-to-Retire solutions
  • Recruiting
  • Onboarding based Sales & Service
  • Work Utilities, Payroll & Attendance
  • Career Advancement
  • Employee Retention & eNPS
  • Post-Employment & Retiral
  • Compliance Services

Infrastructure & Digital IT Services[]

  • IT staffing solutions
  • IT infra management
  • Digital IT Services
  • Automation and RPA
  • Cyber security
  • Asset tracking tools
  • Workforce management tools

Marketing Services[]

  • Market activations
  • Visual merchandising execution
  • Product promotions
  • Field campaigns

In-store & Field Sales[]

  • In-store execution
  • Feet on the street execution
  • Tele sales support
  • Outbound and inbound logistics
  • Agency Based Sales & Services

Customer Lifecycle Management[]

  • Back office automation & processing
  • Omni-channel Customer Relationship Management
  • CRM digitization
  • Back office automation & processing
  • Collections & Reconciliation

Installation & After Sales Services[]

  • Inbound support services
  • Door step installation
  • Break fix services
  • Extended Warranty Services

Industrial Operations & Maintenance[]

  • Asset Management
  • IOT-based solutions
  • Industrial O&M
  • Core skills training

Business Process and IT Outsourcing Services[]

Learning solutions[]

Vocational Training[]

Healthcare Services[]

Acquisitions[]

Quess has made 23 acquisitions and investments so far since its inception in 2007, key ones as below [19][20]

2008 Acquired Avon, a facility management company
2009 Acquired Coachieve, a human resources solutions company
2010 Acquired Magna Infotech, an IT staffing company
2014
  • Acquired Hofincons, a consulting and asset management services company
  • Acquired Brainhunter, an IT solutions company
  • Acquired 49% stake in MFX, an IT infrastructure company
2015 Acquired Aravon, an integrated facilities management company
2016
  • Acquired 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
  • Acquired Greenpiece Landscapes
  • Acquired 64% stake in Comtel, largest IT Staffing player in Singapore
  • Acquired Stakes in Vedang Cellular Services Private Limited
  • Acquired majority stakes in TATA Business Support Services Limited (TBSS), now called Conneqt Business Solutions
2018 Acquired Monster (APAC & Gulf) and HCL’s care unit, Touch
2019 Acquired 61.35% stake in Allsec Technologies
2021 Acquired 49% equity shares in Taskmo

Offices & Locations[]

A list of Quess locations across the globe.

International

  • Canada
  • Malaysia
  • Philippines
  • Singapore
  • Sri Lanka
  • UAE
  • Vietnam
  • USA
  • India
  • Bangladesh

Within India

  • Assam
  • Andhra Pradesh
  • Bihar
  • Chandigarh
  • Chhattisgarh
  • Goa
  • Gujarat
  • Haryana
  • Jammu & Kashmir
  • Jharkhand
  • Karnataka
  • Kerala
  • Madhya Pradesh
  • NCR
  • Odissa
  • Punjab
  • Rajasthan
  • Tamil Nadu
  • Telangana
  • Uttar Pradesh
  • Uttarakhand
  • West Bengal

Sports[]

In 2018, Quess, in collaboration with the East Bengal football club, the then 98-year-old football club in Kolkata, set up a new entity, Quess East Bengal FC (QEBFC). This investment was made by Quess to develop its brand and as well as contribute to sports and the development of football in the country.

Philanthropy[]

Quess’ aim is to actively contribute to the welfare of the community and create a positive impact in the lives of people. To take this initiative forward, Care Works Foundation (CWF) 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 marginalised 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.[21] [22][23]

Sustainability[]

Quess’ sustainability philosophy has people at its core. Quess’ business and services aim to solve the pressing needs of society, including hygiene, sanitation, and security, while offering secure employment with social benefits to all employees and associates. The company’s unique business model enables ~401,000 employees to create lasting economic and social value.

Quess works towards a sustainable future and supports the United Nations Sustainable Development Goals (SDGs), including SDGs 3, 4, 5, 6, 8, 10, 13 & 16, through its services and initiatives.

Awards & Recognition[]

Quess has been widely recognised for its exemplary services and work culture over the years.

  • Quess has been certified as a Great Place to Work® for three consecutive years (2020-22) by the Great Place to Work Institute, India.[24]
  • Quess was ranked 137 in the Fortune India 500 list in 2021[25]
  • Quess was named amongst the Top 10 HR Tech solution providers in India by the Enterprise World magazine.[26]
  • Quess was ranked 48 on SIA’s top global Staffing firms for 2021, 50 in 2020, and 69 in 2019. [27][28]
  • Quess Malaysia won three prestigious awards at the Asia Recruitment Awards 2020:[29]
    • Best Recruitment Portal by a Recruitment Solution Provider (Gold)
    • Best Candidate Experience by a Recruitment Solution Provider (Silver)
    • Most Innovative Recruitment Strategy – Solution Provider (Bronze)
  • Comtel Solutions, Singapore (now Quess Singapore), was recognised as Asia’s Best Employer Brand 2019.
  • Quess was ranked 177 on ET 500 companies list for 2019 [30]
  • Quess was the winner under the ‘Best IPO’ category of IR Awards, 2017, instituted by the Investor Relations Society of India in association with KPMG, Bloomberg, and BSE. [31]
  • Quess’ Chairman Ajit Isaac was named a finalist at the 2016 EY Entrepreneur of the Year Award Program in India.[32] [33]
  • Quess was recognised as the ‘Best Partner’ two years in a row by Huawei Telecommunications for its staffing business, 2016.
  • Conneqt Business Solutions, a subsidiary of Quess, was recognised for its contribution towards society by Amity CSR awards.
  • Quess Industrials was given the Strategic Partner (Services) award by ZTE at its India Partners Meet, 2016.
  • Simpliance, a subsidiary of Quess, was recognised as the ‘Best Start-Up’ for its industry-leading cloud-based compliance tool at NHRD Showcase, 2016.
  • Quess Lanka won the ‘Device Service Excellence Gold Partner Award’ from Huawei Sri Lanka for providing professional staffing services across the region, 2016.
  • Quess Staffing was recognised 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.[34]

References[]

  1. ^ https://www.quesscorp.com/investor/dist/images/pdf/Quess-Annual-Report-2020-2021.pdf
  2. ^ "India's leading business services provider | Quess Corp". www.quesscorp.com. Retrieved 18 November 2019.
  3. ^ "Press Release - Q2 FY2122" (PDF).{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Board of Directors".{{cite web}}: CS1 maint: url-status (link)
  5. ^ "Bloomberg". Retrieved 10 January 2022.{{cite web}}: CS1 maint: url-status (link)
  6. ^ "Indiatimes".{{cite web}}: CS1 maint: url-status (link)
  7. ^ "Indian Telivision".{{cite web}}: CS1 maint: url-status (link)
  8. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  9. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  10. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  11. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  12. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  13. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  14. ^ "IPO Details".{{cite web}}: CS1 maint: url-status (link)
  15. ^ "Milestones".{{cite web}}: CS1 maint: url-status (link)
  16. ^ "Company History".{{cite web}}: CS1 maint: url-status (link)
  17. ^ "Company History".{{cite web}}: CS1 maint: url-status (link)
  18. ^ "Quess Corporate Deck" (PDF).{{cite web}}: CS1 maint: url-status (link)
  19. ^ "The Economic times - Quess Corp History". Retrieved 10 January 2022.{{cite web}}: CS1 maint: url-status (link)
  20. ^ "The Economic Times | tech". Retrieved 10 January 2022.{{cite web}}: CS1 maint: url-status (link)
  21. ^ Shekhar, Divya (19 October 2015). "Good Samaritan: How Quess Corp CEO Ajit Isaac takes care of education and healthcare of the underprivileged". They Economic Times. Retrieved 19 October 2015.
  22. ^ "Press release".{{cite web}}: CS1 maint: url-status (link)
  23. ^ "Annual Report" (PDF).{{cite web}}: CS1 maint: url-status (link)
  24. ^ [Quess has been certified as a Great Place to Work® for three consecutive years (2020-22) by the Great Place to Work Institute, India. "Recognition"]. {{cite web}}: Check |url= value (help)CS1 maint: url-status (link)
  25. ^ "Ranking" (PDF).{{cite web}}: CS1 maint: url-status (link)
  26. ^ "Recognition".{{cite web}}: CS1 maint: url-status (link)
  27. ^ "Ranking".{{cite web}}: CS1 maint: url-status (link)
  28. ^ "Ranking" (PDF). Retrieved 11 January 2022.{{cite web}}: CS1 maint: url-status (link)
  29. ^ "Awards".{{cite web}}: CS1 maint: url-status (link)
  30. ^ "Ranking".{{cite web}}: CS1 maint: url-status (link)
  31. ^ "Awards" (PDF).{{cite web}}: CS1 maint: url-status (link)
  32. ^ "Recognition".{{cite web}}: CS1 maint: url-status (link)
  33. ^ "Finalist". YouTube.{{cite web}}: CS1 maint: url-status (link)
  34. ^ "Quess Corp wins IKEA suit for using IKYA brand". timesofindia-economictimes. Retrieved 19 January 2016.
Retrieved from ""