Visionet expects 50% growth in 2021; plans to hire 1,500 people

Business process management firm Visionet expects 50 per cent year-on-year growth in 2021 and 2022 on account of higher demand for digitisation across several verticals, mainly in banking, finance and insurance segments.

The company also plans to hire 1,500 people this year.

"In 2020, we have grown by almost 60 per cent overall. In 2021, we are expecting over a 50 per cent plus growth rate and we are also forecasting a very strong growth rate of 50 per cent in 2022.

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"This is purely an organic growth rate where we are expanding our existing services and offlines in the market," Visionet India managing director and country head Alok Bansal told PTI.

A lot of banking and financial service institutions have expedited their digital journey, he added.

According to Bansal, the plans of digitisation of business organisations, which could have taken 1-3 years are now being implemented at the earliest due to the COVID pandemic experience.

"We have secured several orders. Even the existing clients are expanding their volumes, expanding their digital transformation initiatives combined with the new business as well as the existing business. We are looking at almost 1,500 employees overall this year, out of which we have already made an offer to about 500 and 300 people have joined," Bansal said.

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The new hiring is taking place at the company's facilities in Bengaluru, Coimbatore and Mumbai.

Visionet also has plans to set up a centre in a small city as well this year.

"We could go to the east part of India, which is generally not looked very favourably. We would like to expand into the east as well and of course north. By the third quarter of this year we should have some operational facilities in a small town," Bansal said.