Latest news with #FirstsourceSolutionsLimited
Business Upturn
18-07-2025
- Business
- Business Upturn
Firstsource Solutions to acquire UK-based Pastdue Credit Solutions for GBP 22 million
Firstsource Solutions Limited has announced that its wholly owned subsidiary, Firstsource Solutions UK Limited (FSL UK), has signed a definitive share purchase agreement to acquire Pastdue Credit Solutions Limited (PDC), a UK-based debt collection agency. The acquisition deal is valued at GBP 22 million, which includes an upfront payment and performance-linked earnouts. Founded in 2005, PDC is a Financial Conduct Authority (FCA) registered company operating in the UK. It specializes in white-label, early arrears, and debt recovery services. Over the last three financial years, PDC has shown a healthy performance, with revenues of GBP 16.9 million and an operating profit of GBP 3.4 million in the latest reporting period (Nov 2023–Oct 2024). The deal is subject to regulatory approvals, including clearance under the National Security and Investment Act 2021 and from the FCA. Once completed, PDC will become a step-down subsidiary of Firstsource Solutions Limited. This strategic acquisition aims to expand Firstsource's footprint in the UK debt collection market, aligning with the company's growth goals in the financial services space. The transaction is not a related party deal, and the consideration will be paid fully in cash. In the meantime, Firstsource Solutions shares closed at ₹352.80 on July 18. The stock opened the day at ₹358.55 and hit an intraday high of ₹358.55, while the low stood at ₹348.00. Over the past 52 weeks, the stock has touched a high of ₹422.30 and a low of ₹226.62. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
18-07-2025
- Business
- Business Standard
Firstsource signs pact to acquire UK-based Pastdue Credit Solutions
Firstsource Solutions Limited, a part of the RP-Sanjiv Goenka Group, has announced a deal to acquire Pastdue Credit Solutions, a UK-based debt collection company, which serves several of the United Kingdom's (UK's) leading organisations, including major banks, utility providers, telecom firms, and government agencies. The acquisition is subject to UK's Financial Conduct Authority (FCA) approval, Firstsource announced in an exchange filing. Firstsource Solutions is a global provider of specialist Business Process Services (BPS), delivering end-to-end customer lifecycle solutions across industries such as healthcare, telecom and banking, financial services and investments (BFSI). Founded on July 21, 2005, Pastdue Credit Solutions offers white-label, early arrears, and debt collections and recovery services. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Pastdue Credit Solutions' deep expertise in first- and third-party collections, particularly across utilities, financial services, and the public sector, strengthens our capabilities in a space that is both critical and growing. This acquisition aligns with our long-term strategy to build a differentiated collections business with strong sectoral depth and local delivery capabilities across the UK.' Phil Grant, Chairman of Pastdue Credit Solutions, said, 'With Firstsource's global reach, deep domain expertise, and strong culture of innovation, coupled with its long-established credentials in debt collection, this move will pave the way for us to scale our impact, strengthen our services, broaden our offering and unlock new opportunities together.' The company aims to use artificial intelligence and digital-first approach, "With rising consumer debt, a growing role for private agencies in public sector collections, and over £1.9 billion in market opportunity. Firstsource is strongly positioned to scale with purpose - delivering greater value to clients and expanding its footprint in the market." Pastdue Credit Solutions was recently ranked third among top Indian employers in the UK, according to the India Meets Britain Tracker 2025 report by Grant Thornton. From November 2023 to October 2024, Pastdue Credit Solutions Limited reported a turnover of £16.9 million, marking a 40.8 per cent increase year-on-year, and an operating profit of £3.4 million, up 277.8 per cent YoY. From November 2022 to October 2023, the company recorded a turnover of £12.0 million, a 3.2 per cent decline from the year before, and an operating profit of £0.9 million, down 52.6 per cent. For the period from November 2021 to October 2022, turnover stood at £12.4 million, with an operating profit of £1.9 million.
Business Standard
30-05-2025
- Business
- Business Standard
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
PRNewswire Mumbai (Maharashtra) [India], May 30: Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models--helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource, shared, "The Firstsource Gigsourcing Platform marks a pivotal milestone in our UnBPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility--it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission." The platform offers an intuitive experience for both, enterprises and independent professionals: * For businesses, the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. * For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi, Chief Digital & AI Officer at Firstsource, added, "The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers - we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation - redefining workforce agility in the AI era and building the future of work." The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: * Compliance-first onboarding: alignment with regional regulations and standards. * Comprehensive Control: efficient management of user groups roles, access, and notifications. * Qualification Tests: qualified freelancers selected with pre-requisite tests. * Gig worker Onboarding: simplified freelancer integration, including from external partners. * Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. * Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: * Private Instance: enabling organizations to create their own exclusive freelancer crowd. * Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
Cision Canada
29-05-2025
- Business
- Cision Canada
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
MUMBAI, India, May 29, 2025 /CNW/ -- Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models—helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource, shared, "The Firstsource Gigsourcing Platform marks a pivotal milestone in our Un BPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility—it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission." The platform offers an intuitive experience for both, enterprises and independent professionals: For businesses, the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi, Chief Digital & AI Officer at Firstsource, added, "The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers - we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation - redefining workforce agility in the AI era and building the future of work." The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: Compliance-first onboarding: alignment with regional regulations and standards. Comprehensive Control: efficient management of user groups roles, access, and notifications. Qualification Tests: qualified freelancers selected with pre-requisite tests. Gig worker Onboarding: simplified freelancer integration, including from external partners. Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: Private Instance: enabling organizations to create their own exclusive freelancer crowd. Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
Business Upturn
29-05-2025
- Business
- Business Upturn
Firstsource launches Gigsourcing Platform to streamline gig economy workforce
By Aman Shukla Published on May 29, 2025, 16:13 IST Firstsource Solutions Limited, a company within the RP-Sanjiv Goenka Group, has introduced the Firstsource Gigsourcing Platform, a new crowdsourcing tool aimed at enhancing how businesses utilise the gig economy. This platform is part of Firstsource's relAI suite of AI-driven solutions and connects companies with skilled freelance workers worldwide. It offers a workforce model designed to be flexible, scalable, and cost-efficient, addressing common challenges related to hiring, managing, and coordinating gig workers. According to Ritesh Idnani, Managing Director and CEO of Firstsource, the Gigsourcing Platform represents a significant step in the company's UnBPO approach. The platform combines AI technology, industry knowledge, and access to a global freelance talent pool to help organizations adapt to the changing nature of work, which is becoming more decentralized and digital. The goal is to enable clients to operate more efficiently and effectively by adopting a new way of managing work. The platform provides features that support both enterprises and gig workers. For businesses, it simplifies the process of creating projects, onboarding freelancers, and tracking performance to ensure smooth execution. For gig workers, it offers easy registration, access to available projects, and automated payment processes to improve their overall experience. Functionality within the platform includes onboarding processes that comply with regional regulations, management of user roles and access, qualification tests to ensure freelancers meet required standards, and integration options such as single sign-on to streamline operations. Payment systems are designed to be straightforward, helping gig workers receive their earnings without difficulty. The platform also offers software-as-a-service capabilities that allow organizations to maintain a private group of freelancers and manage internal resource allocation alongside external talent. This launch builds on Firstsource's earlier release of the Agentic AI Studio, further demonstrating the company's focus on transforming work processes through technology. Together, these platforms aim to reshape how tasks are sourced, performed, and scaled in the modern workforce. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
