Deep Intelligence Across Industries

Company Headquarters: US Founded: 1939 Workforce: 60,000 Company Working: Hewlett Packard Enterprise Development LP (HPE) is engaged in the provision of information technology (IT) solutions. The company offers a broad product portfolio that includes enterprise IT solutions, including servers, storage, networking, converged systems, software and services, and financial solutions. It operates through three reportable business segments, namely hybrid IT, intelligent edge and financial services, and corporate investments. The hybrid IT segment offers software-enabled and services-led infrastructure solutions under four categories, including compute, storage, and data center networking (DC Networking) services. The intelligent edge segment includes enterprise networking and security solutions under Aruba brand. Its major products include wired and wireless local area network hardware products such as switches, routers, sensors, Wi-Fi access points, and software products, and location services software. The segment also provides professional and support services for the intelligent edge portfolio of products. The financial services segment offers flexible investment solutions, utility programs, asset management services, and others. that facilitate unique technology deployment models, and the acquisition of complete IT solutions, including hardware, software, and services HPE operates globally, with primary operations in the US.

Company Headquarters: US Founded: 1994 Workforce: 341,400 Company Working: Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk. The company also manufactures and sells electronic devices, including Kindle e-readers, fire tablets, and fire TVs among others. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company has its offices located in countries such as Australia, Brazil, Canada, France, Italy, and India among others. The company specializes in e-commerce, retail, operations, and Internet-based services.

Company Headquarters: US Founded: 1999 Workforce: 25,178 Company Working: Salesforce.com Inc is a leading provider of enterprise cloud computing solutions, with a focus on customer relationship management (CRM). The company first introduced its CRM solutions in the year 2000. It provides cloud-based applications for sales, service, and marketing which do not require IT expertise for their installation or management. The company specializes in enterprise cloud computing, and integration of customer relationship management and social networking to capitalize on commercial applications. The product offerings include sales cloud, service cloud, marketing cloud, and commerce cloud. The company proves services which are intuitive and easy-to-use and can be deployed rapidly, customized easily and integrated with other platforms and enterprise apps. Customer Success Platform is a comprehensive portfolio of service offerings providing sales force automation, customer service and support, marketing automation, digital commerce, community management, analytics, application development, IoT integration, collaborative productivity tools, and professional cloud services.

Company Headquarters: Germany Founded: 1995 Workforce: ~215,675 Company Working: Deutsche Telekom AG (Deutsche Telekom) is engaged in the provision of telecommunications and information technology (IT) services. The company offers a range of mobile and fixed telecommunications services, IT, Internet, and network services. Deutsche Telekom has operations in over 50 countries across North America, South America, Europe, Asia, and Africa. The company operates in five business segments namely the US, Germany, Europe, systems solutions, and group headquarters, and group development. The US operating segment combines all mobile activities in the US market. The Germany segment comprises all fixed-network and mobile activities for consumers and business customers in Germany. The segment also focuses on the wholesale business to provide telecommunications services for carriers and other operating segments. The Europe operating segment comprises all fixed-network and mobile operations of the national companies in Greece, Romania, Hungary, Poland, the Czech Republic, Croatia, the Netherlands, Slovakia, Austria, Albania, the North Macedonia, and Montenegro. In addition, it offers information and communications technology (ICT) solutions to business customers. The Europe operating segment also includes international carrier sales and solutions (ICSS), global technology, and the global network factory (GNF) units. The systems solutions operating segment offers ICT products and solutions for large multinational corporations and public institutions, under the T-Systems brand. The operating segment offers its customers with ICT solutions from a single source and develops and operates infrastructure and industry solutions. The segment primarily includes services from the cloud, machine-to-machine (M2M) and security solutions, complementary, standardized mobile and fixed-network products, and solutions for virtual collaboration and IT platforms. The company operates in over 50 countries across North America, South America, Europe, Africa, and Asia-Pacific

Company Headquarters: Luxembourg Founded: 2000 Workforce: ~ 1,549 Company Working: This global online travel company offers various deals on regular hotels, cruises, flights, low-cost airlines, charters, car rentals, dynamic packages, holiday packages, and travel insurance to its consumers. The company has partnered with the best aggregators and suppliers to offer its customers with the best products and prices. It operates in 33 countries providing around 155,000 flight-routes from more than 600 airlines and about 1,700,000 hotels in 40,000 destinations to its clients. It offers its services through its subsidiary brands, namely eDreams, GoVoyages, Travellink, Opodo, and Liligo. The company also offers a wide portfolio of deals flights, hotels, and tailored holiday packages using its search and booking technology.

Company Headquarters: US Founded: 2008 Workforce: ~3,100 Company Working: Airbnb Inc. engages in an online marketplace and hospitality service, enabling people to lease or rent short-term accommodations. The company operates through the Airbnb app which enables its users to list, discover, and book accommodations across the world. Through the company’s platform, the residents and commercial property owners can rent private rooms, entire apartments, boutique hotels, castles, tree houses, and other accommodations. Furthermore, the platform allows travelers to search for accommodations by location, price, and room type, in more than 65,000 cities and 191 countries.

Alibaba entered fiscal 2027 as a company that has deliberately traded near-term profitability for a position in artificial intelligence infrastructure. Revenue of RMB1,023.7 billion (US$148.4 billion) in FY2026 makes it one of the largest technology companies outside the United States, but the more consequential number is the RMB126.1 billion of FY2026 capital expenditure and the RMB67.7 billion spent in the June 2026 quarter alone — a 75% year-on-year increase. Management has explicitly reframed the company: the FY2026 annual results still described Alibaba as "focused on e-commerce and cloud computing," while the June 2026 release described it as "focused on AI + Cloud and consumption." The commerce franchise remains the cash engine and the competitive moat, but the equity story is now the Qwen model family, the T-Head chip programme, and Alibaba Cloud's leadership of China's AI cloud market. Consolidated adjusted EBITA fell 56% in FY2026; that is the price of admission management has chosen to pay. --- ### The company's own description The FY2026 annual results announcement (May 13, 2026) described the group as follows: Alibaba Group is a global technology company focused on e-commerce and cloud computing, enabling merchants, brands and retailers to market, sell and engage with consumers by providing digital and logistics infrastructure, efficiency tools and marketing reach, and empowering enterprises with cloud infrastructure, services and work collaboration capabilities to facilitate digital transformation. By the June Quarter 2026 announcement (August 20, 2026) that boilerplate had been rewritten. The company now describes itself as a global technology company focused on AI + Cloud and consumption, providing technology infrastructure and marketing reach to help merchants, brands, retailers and other businesses engage with users and operate efficiently, and empowering consumers and enterprises with full-stack AI capabilities. The release states explicitly that its AI technology, based on Qwen (Chinese: Qianwen), a family of large language and multimodal models, powers the intelligence behind its services across enterprise solutions, e-commerce and other internet platforms. The change of the boilerplate in a single quarter is itself a data point: it is the most direct evidence available that the board has reordered its strategic priorities. ### Independent characterization Alibaba is best understood as four businesses under one holding company, with an increasingly explicit internal capital transfer from the first to the second and third: **(i) A Chinese commerce marketplace and advertising business.** Taobao and Tmall are transaction platforms on which Alibaba does not primarily take inventory risk. The dominant revenue line is customer management revenue (CMR) — marketing services, pay-for-performance advertising and commissions charged to merchants. CMR was RMB459.9 billion in FY2026 (revenue-by-type disclosure), roughly 45% of group revenue, and is the single largest and highest-margin revenue pool in the company. This is structurally an advertising business with marketplace characteristics, and its economics resemble those of a search advertising platform more than those of a retailer. **(ii) A capital-intensive commerce and logistics operation.** Direct sales (Tmall Supermarket, Tmall Global, Freshippo), quick commerce (Taobao Instant Commerce, Ele.me), and Cainiao logistics all record revenue gross of cost of inventory or fulfilment cost. These businesses inflate reported revenue and depress reported margin. FY2026 sales of goods revenue was RMB227.7 billion and logistics services revenue was RMB139.9 billion. Quick commerce, in particular, has been the single largest drag on FY2026 profitability. **(iii) An AI and cloud infrastructure business.** Alibaba Cloud sells IaaS, PaaS, and — increasingly — Model-as-a-Service. Cloud services revenue by type was RMB112.1 billion in FY2026 against RMB84.5 billion in FY2025. The segment carries the group's heaviest capital intensity and is now the primary growth narrative, with external revenue growth accelerating from 33% for FY2026 as a whole to 40% in the March 2026 quarter and 45% in the June 2026 quarter. **(iv) An investment portfolio.** A 33% fully diluted stake in Ant Group (equity method, results recorded one quarter in arrears), plus RMB343.0 billion of non-current equity securities and other investments and RMB203.2 billion of equity method investees at June 30, 2026. This portfolio drove much of the volatility in reported net income: FY2026 interest and investment income, net was RMB87.5 billion, up 322% year-on-year, almost entirely mark-to-market and disposal gains that management itself excludes from non-GAAP measures. ### Revenue model mix | Revenue type (RMB M) | FY2025 | FY2026 | |---|---|---| | Customer management services | 424877 | 459917 | | Membership fees and value-added services | 46613 | 47638 | | Logistics services | 123379 | 139864 | | Cloud services | 84517 | 112077 | | Sales of goods | 274276 | 227747 | | Other revenue | 42685 | 36427 | | Total revenue | 996347 | 1023670 | The mix shift is the story. Cloud services grew 32.6% and now represent 10.9% of revenue against 8.5% a year earlier. Sales of goods fell 17.0%, reflecting the disposal of Sun Art and Intime and the deliberate reduction of low-margin direct sales. Customer management services grew 8.2% on a reported basis. Taken together, revenue quality improved materially even as headline growth was only 3%; on a like-for-like basis excluding disposed businesses, management states revenue grew 11%. ### Customers and end-markets Alibaba serves four distinct customer types: (a) Chinese consumers, including approximately 64 million 88VIP paying members as of June 30, 2026, up double digits year-on-year from over 62 million at March 2026; (b) merchants and brands, from individual Taobao sellers to global brands on Tmall, and Chinese manufacturers on 1688.com and Alibaba.com; (c) enterprise and government cloud customers in China and, through Alibaba Cloud International, across Southeast Asia, the Middle East and Europe; and (d) developers, via open-weight Qwen models and the Model Studio MaaS platform, whose customer base grew eight-fold year-on-year as of March 2026.

Company Headquarters: India Founded: 2000 Workforce: ~3,000 Company Working: MakeMyTrip (India) Pvt. Ltd operates as an online travel company in India. The company engages in the ownership and operation of online brands, including MakeMyTrip, Goibibo, and redBus. It operates through two segments, namely air ticketing and hotels and packages. The air ticketing segment operates through Internet-based platforms that provide the facility to book international and domestic air tickets. The hotels and packages segment offer holiday packages and hotel reservations through Internet-based platforms, call-centers, and branch offices. The company offers various travel products and services, such as domestic bus and rail tickets, hotel bookings international and domestic air tickets, conferences and exhibitions, private car and taxi rentals services, and business to business and affiliate services. It provides access to hotels in India and internationally, airlines operating to and from India, Indian Railways, and Indian bus operators. The company has offices in India, New York, Sydney, San Francisco, California, and Australia.

Company Headquarters: UK Founded: 2007 Workforce: ~21,000 Company Working: Thomas Cook Group PLC specializes in travel services in the UK, Continental Europe, and Northern Europe. The company operates through two main segments, namely, tour operator and airline segments. It owns, manages and franchises 270 hotels primarily under the Casa Cook, Cook’s Club, and Sunwing brands. Additionally, the company has a fleet of over 90 aircraft under the Thomas Cook airlines and condor brands.

Company Headquarters: China Founded: 1999 Workforce: ~30,000 Company Working: Ctrip.com International Ltd (Ctrip.com) is one of the leading travel service providers that offers hotel reservations, airline tickets, and packaged tours to business and leisure travelers in China. The company provides all the information related to hotels, flights, and vacation packages, thereby enabling customers to make informed and cost-effective travel bookings. It helps corporate clients manage their travel requirements and enables leisure travelers to book tour packages and guided tours. Moreover, it offers a range of other travel-related services such as financing and car services, travel insurance, traveler’s reviews, attraction tickets, and visa services to meet the various requirements of travelers.

Company Headquarters: US Founded: 2000 Workforce: ~3230 Company Working: TripAdvisor Inc. is an online travel company and operates through two business segments, namely hotel, and non-hotel. The hotel segment generates revenue from services related to hotels such as click-based and display-based advertising, airline reservations, and cruise reservations as well as revenue generated from subscription-based products such as business listings, transaction-based products such as Jetsetter and Tingo, and other hotel services. The non-hotel segment consists of restaurants and vacation rentals businesses. The company operates its branded Websites, including tripadvisor.com in the US and the localized versions of its Website in 28 languages.

Company Headquarters: US Founded: 1997 Workforce: ~24,000 Company Working: Booking Holdings Inc. specializes in online travel and related services in the US and the Netherlands, among other countries. The company mainly operates through booking.com, priceline.com, KAYAK, agoda.com, rentalcars.com, and OpenTable brands. The brand booking.com can be used for booking online accommodation reservations services. The priceline.com offers consumers hotel, rental car and airline ticket reservation services, as well as vacation packages and cruises services mainly in the US. KAYAK provides an easy way to search and compare online price and allows consumers to search and compare travel itineraries such as accommodation reservation, airline ticket, and rental car reservation information, from various travel Websites. The online accommodation reservation service—agoda.com— mainly caters to consumers in Asia-Pacific. The online rental car reservation service, rentalcars.com, operates primarily under a merchant model. OpenTable is a brand for booking online restaurant reservations. Moreover, through its online travel companies, the company connects with its customers, offering them various services.

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Company Headquarters: US Founded: 1994 Workforce: ~24,500 Company Working: Expedia Inc. operates as an online travel company in the US and other countries. The company mainly operates through core OTA, Trivago, HomeAway, and Egencia segments. The core OTA segment provides a range of advertising and travel services to its customers through a variety of brands such as expedia.com and hotels.com across the world. The company, through its Trivago segment, sends referrals to travel service providers and online travel companies from its hotel metasearch websites. The HomeAway segment enables booking beach houses, cabins, and condos, with nearly 1.8 million online bookable vacation rental listings in 190 countries. The Egencia segment manages all the travel services and corporate customers worldwide.

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Genpact is a $5.1 billion, India-centric global operations and technology services company that is repositioning itself from a classic business process outsourcing (BPO) provider into what it now calls "the Agentic Operations company." Born as General Electric's captive back office in 1997, Genpact carries a distinctive heritage in Lean Six Sigma process engineering, end-to-end finance and accounting, supply chain, insurance and banking operations, and industry-specific workflows that it runs at scale for roughly a quarter of the Fortune Global 500. Its strategic thesis is that decades of "process intelligence" and operational data give it a structural advantage in deploying AI agents into mission-critical workflows — the "last mile" where generic AI pilots stall. Financially, the company is a steady mid-single-digit grower with expanding margins (adjusted operating margin 17.5% in FY2025), strong cash conversion, an investment-grade balance sheet and a consistent capital-return program, but it trades at a deep discount to peers because investors fear AI-driven deflation in its core labor-based services. --- ### The company's own description (paraphrased from the FY2025 Form 10-K) In its FY2025 annual report, Genpact describes itself as an agentic and advanced technology solutions company known for deep industry knowledge, process intelligence and "last mile" expertise. It emphasises decades of client trust, a strong partner ecosystem, and a workforce oriented to continuous learning. The company traces its origins to its role as GE's global capability center, where it was mandated to perfect shared business processes using Lean Six Sigma; it argues that this operational discipline, end-to-end process view, granular data benchmarking and "operator-led" approach underpin its ability to deliver differentiated AI and agentic solutions. It states that it is embedding AI as a driver of enterprise-wide value, building agentic solutions that act and learn alongside humans, and that it is well positioned to help clients move from AI experimentation to "agentic operations." By mid-2026 its press releases had adopted the tagline "the Agentic Operations company, where applied AI meets context-rich process intelligence." ### Revenue architecture Genpact discloses revenue along three intersecting axes: **Axis 1 — Service type (introduced Q2 2025):** **Advanced Technology Solutions (ATS):** FY2025 revenue $1.204 billion (23.7% of total), +17.0% YoY. Comprises four capabilities: Data and AI; Digital Technology; Advisory Services; Agentic Solutions. **Core Business Services (CBS):** FY2025 revenue ~$3.876 billion (76.3%). Comprises Decision Support Services, Technology Services and Digital Operations. **Axis 2 — Legacy service type (pre-Q2 2025, still disclosed in the FY2025 10-K):** **Data-Tech-AI:** FY2025 ~$2.44 billion (48.1%). **Digital Operations:** FY2025 ~$2.64 billion (51.9%). **Axis 3 — Reportable segments (industry verticals):** **Financial Services:** FY2025 $1,356.8M (26.7%). **Consumer and Healthcare:** FY2025 ~$1,725M (34.0%). **High Tech and Manufacturing:** FY2025 ~$1,998M (39.3%). ### Business model and revenue model Genpact is a pure services company; it does not sell hardware and has only a nascent software line. Its revenue model mix, per the 10-K contracting description, is: **Managed services / outsourcing (annuity-like, multi-year):** Digital Operations contracts are typically governed by a Master Services Agreement (MSA) supplemented by Statements of Work (SOWs), with pricing that may be FTE-based, transaction-based, fixed-price or outcome-based. This is the bulk of CBS revenue and the stable core of the business. **Consulting / project-based:** Advisory, data and AI engineering, digital technology implementation and other ATS/Data-Tech-AI services are generally contracted under consulting agreements, with time-and-materials or fixed-price arrangements. **Subscription / SaaS (emerging):** For Agentic Solutions (e.g., the AP Suite, Record-to-Report Suite, AR Suite, Banking Analyst Suite), Genpact "typically" enters master software-as-a-service agreements. This is the company's first meaningful step toward IP-led, non-linear revenue; the size of SaaS revenue is not publicly disclosed. **Resold partner technology:** The 10-K notes rising costs for "resold partnership technologies," indicating some pass-through of third-party software within engagements. **Licensing:** Not a material standalone revenue line; not publicly disclosed. Revenue split by product vs. service vs. subscription vs. licensing: services ≈ substantially all revenue; the precise subscription share is not publicly disclosed. ### Value-chain position Genpact sits between the enterprise application/cloud layer (SAP, Oracle, Workday, ServiceNow, Salesforce, hyperscalers, Databricks) and the client's business outcome. It does not own the systems of record; it owns the process: the workflows, exception handling, controls and operational data generated by running those processes. Its strategic claim is that the AI value chain is shifting value toward whoever controls process context and operational data — i.e., toward operators like Genpact — rather than to pure model providers or pure systems integrators. ### Customer types and end-markets **Customer profile:** Large global enterprises (approximately one quarter of the Fortune Global 500), plus smaller emerging/disruptor companies. Clients typically retain Genpact on a non-exclusive basis. **Industries:** Banking, capital markets, insurance; consumer goods, retail, life sciences, healthcare payers/providers; high-tech hardware and software, digital platforms and social media (trust and safety), semiconductors, media; manufacturing (aerospace, automotive, chemicals, energy, EVs/batteries, industrial machinery, logistics, oil and gas, utilities). **Functions (horizontal):** Finance and accounting (AP, invoice-to-cash, record-to-report, FP&A, enterprise risk and compliance, finance strategy); supply chain and procurement; HR and people advisory; sales, commercial, marketing and experience; Global Business Services/GCC advisory and build-operate services. **Client geography:** Heavily weighted to North America (especially the US) and Europe (10-K risk factor). Note that Genpact's reported geographic revenue is by delivery location, not client location. ### Independent characterization Genpact is best understood as a process-heavy, F&A-anchored operations outsourcer with a growing technology services overlay, rather than an IT services firm. Its closest structural analogue is EXL; its scale and client roster put it in competition with Accenture Operations, Cognizant, TCS, Infosys BPM, Wipro and Capgemini/WNS. Three features define it: (1) an unusually deep F&A franchise (it claims to be one of the world's premier F&A providers); (2) a delivery base overwhelmingly concentrated in India; and (3) a deliberate bet that agentic AI will cannibalise labor-based revenue but can be monetised through new commercial models (SaaS suites, outcome pricing, "Service-as-Agentic-Solutions"). The data through Q2 2026 support the thesis that ATS is accelerating (+24.1% in Q2 2026) while CBS is decelerating toward flat (+1.9% in Q2 2026; guided flat-to-slightly-down in Q3 2026). The investment debate is therefore whether ATS growth can outrun CBS erosion.

Company Headquarters: India Founded: 1986 Workforce: ~ 103,822 Company Working: Tech Mahindra Limited designs and develops integrated solutions and computer software across the globe. It is one of the leading companies in software development and artificial intelligence, and mobility solutions, around the globe. It offers software for telecommunication equipment manufacturers, telecom service providers, software vendors, and systems integrators. It also offers solutions including big data, cloud computing, Internet of Things (IoT), remote vehicle diagnostics, remote patient monitoring, connected service experience solution, freezer monitoring and digital enterprise services. The company has offices located in China, Japan, Malaysia, South Korea, Germany, France, Spain, Italy, Norway, Spain, the US, Canada, Mexico, and Brazil. Pininfarina Engineering S.R.L., Tech Mahindra LLC, Inter-Informatics SRL, TC Inter-Informatics a.s., YABX Technologies, and K-Vision Co., Ltd are some of the subsidiaries of the company.

Company Headquarters: India Founded: 2004 Workforce: ~27,000 Company Working: Conneqt Business Solution Limited (Conneqt) is a business process service company that offers outsourcing services across various industry verticals. The company caters to clients from telecom & media, retail, manufacturing, and BFSI industries. The company was formerly known as TATA business support services; it was renamed as Conneqt, in 2018. Conneqt is a subsidiary of Quess Corp., a provider of technology and business services. The company offers customer life cycle management and business process management service in India, North America, and Europe. The company handles approximately 500 million customer transactions every year through 29 delivery centers and 470 field offices.

Company Headquarters: India Founded: 1968 Workforce: ~ 6,16,171 Company Working: Tata Consultancy Services Limited is a multinational information technology (IT) consulting and services firm. Banking, financial services, and insurance; manufacturing; retail and consumer business; communication, media, and technology; life sciences and healthcare; and other segments are all part of the company's operations. TCS assisted the customer in strengthening AWS network security by integrating data privacy policies across numerous cloud accounts. It supports the capital market, consumer goods and distribution, education, insurance, life sciences and healthcare, manufacturing, retail, hi-tech, travel, transportation, and hospitality industries, communications, media, and technology industries, as well as the energy, resource, and utility industries. It also supports these sectors' needs. Also, the business works with Microsoft to develop autonomous solutions. It is one of India's largest global corporations, employing over 500,000 highly qualified consultants in 46 countries. It collaborates with its customers to create digital solutions and grow its business. Its workforce comprises of 606,331 employees from 153 nationalities and 55 countries.

Company Headquarters: India Founded: 1981 Workforce: 35,058 Company Working: Infosys BPM Limited, is a subsidiary of Infosys Limited, that provides business consulting, information technology, and outsourcing services globally. Infosys BPM Limited offers wide range of BPO services including customer service outsourcing, finance & accounting, human resource outsourcing, legal process outsourcing among others. The company operates globally and offers its services across varied industry verticals including BFSI, healthcare, retail among others.

Company Headquarters: India Founded: 1996 Workforce: 39,898 Company Working: WNS (Holdings) Ltd (WNS) is a business process management (BPM) service provider. The company offers its services across various industry verticals including travel, insurance, banking & finance, retail & consumer goods, and shipping & logistics. The company offers a varied range of BPM services, including finance & accounting, procurement, customer interaction service, and human resource management services. The company was formed in 1996; however, it started offering BPM services in 2003. WNS has over 350 clients across various industry verticals. The company operates under two reportable segments—WNS Global BPM and WNS Auto Claims BPM. The WNS Auto Claim BPM segment covers claim handling and repair management services for automobile companies. The WNS global BPM service business segment offers business process management services worldwide

Company Headquarters: US Founded: 2016 Workforce: ~ 82,000 Company Working: Conduent Inc. is a global provider of business process outsourcing services. The company was a part of Xerox Corporation (Xerox) till 2016. In 2016, Xerox Corporation discontinued its BPO business and a new publicly traded company—Conduent Inc.—was formed. Conduent Inc. provides a wide range of BPO services that cover both front office and back office operation services. The company has three key reportable segments, namely commercial industries, government services, and transportation. The commercial industries segment provides business process outsourcing services to clients across various industry verticals. As a part of the service, the company offers human resource management service and finance & accounting service. The government service business segment provides government-focused business process outsourcing services. The transportation service business segment system and support service to the transportation industry vertical. This segment includes support for electronic toll collection, parking & photo enforcement, and public transit services.

Company Headquarters: US Founded: 1949 Workforce: ~ 57,000 Company Working: ADP, LLC is the global provider of cloud-based human capital management solution, business process outsourcing services, analytics and compliance services. The company operates under two reportable segments—employer services and professional employer organization (PEO) services. The employee services segment includes a wide range of services catering to the SMEs and large enterprises. These services incudes payroll, talent management, HR management, time & attendance management, insurance services, compliance services, retirement services and benefit administration. Professional employer organization services (PEO) segment provides employment administration outsourcing solution through ADP TotalSource. This segment serves more than 12,000 clients globally. ADP’s TotalSource offers small and mid-sized business a comprehensive HR outsourcing solution through a co- employment model. The company’s employer’s services’ HCM solution is offered in more than110 countries .US, Canada and countries in Europe are some of the key market for the company. Some of the major component of HCM offered by the company across these geographies are payroll, HR outsourcing and time and attendance management. The company operates in a highly competitive environment. The competition is largely based on product and service quality, ease of use among others.

Company Headquarters: New York, US Founded: 1986 Workforce: 12,770 Company Working CBS Corporation is a mass media company, which creates and distributes content across a variety of platforms to audiences across the globe. The company operates in every field of media and entertainment including cable, publishing, local TV, film and interactive services. The company operates its business via entertainment, cable networks, publishing, and local media segments. The entertainment segment comprises the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the company's digital streaming services, CBS All Access and CBSN. The cable networks consist of CBS Sports Network, Showtime Networks, and Smithsonian Networks. The publishing segment manages the Simon & Schuster's consumer book publishing business under the names of Simon & Schuster, Pocket Books, Scribner, and Atria Books. The local media segment consists of CBS Television Stations and CBS Local Digital Media which manages content from local websites and television stations. CBS Corporation majorly operates in the US and Canada.

Company Headquarters: New York, US Founded: 1971 Workforce: 10,400 Company Working Viacom, Inc. is an entertainment content company, which connects the audience globally via television programs, motion pictures, live events, applications, games, and brand merchandise. The company operates its businesses through two reportable segments namely media networks and filmed entertainment. The media networks segment provides entertainment content, services, and related branded products for consumers under the Nickelodeon, MTV, BET, Comedy Central, and Paramount Network flagship brands. Under the filmed entertainment segment, the company is focused on developing films specifically designed to appeal to the targeted audience. The company has its subscribers across 180 countries in the regions of North America, Europe, the Middle East, Africa, and Asia-Pacific.

Company Headquarters: Germany Founded: 1835 Workforce: ~17,377 Company Working: Bertelsmann SE & Co. KGaA (Bertelsmann) is an education, media, and services company who along with its subsidiaries, engages in television broadcasting, magazine publishing, e-learning, music rights, and services businesses. The operating divisions of the company include RTL Group, Gruner + Jahr, Penguin Random House, BMG, Bertelsmann Printing Group, Bertelsmann Education Group, and Bertelsmann Investments. The RTL Group deals with television broadcasting, the Penguin Random House engages in trade book publishing, Gruner+ Jahr involves in magazine publishing, BMG is the music service provider, Arvato offers SCM, financial, and IT solutions and services to the clients, the Bertelsmann Printing Group deals with printing activities, Bertelsmann Education Group engages in providing education services, and Bertelsmann Investments deals with funds. The company has a presence in more than 50 countries, with major operations in Western European countries such as Germany, France, the UK, and the US.

Company Headquarters: US Founded: 1963 Workforce: ~189,000 Company Working: Comcast Corporation is a media and technology company that provides video, Internet, and phone services to its customers. The company operates through three primary segments: Comcast Cable, Sky, and NBCUniversal. Comcast Cable has one reporting sub-segment, namely, cable communications. NBCUniversal has four reportable sub-segments: broadcast television, cable networks, theme parks, and filmed entertainment. The cable communications segment provides high-speed Internet, video, security and automation, and voice services under Xfinity’s brand name. The cable networks segment covers national cable networks, news networks, regional sports, cable television studio production operations, and international cable networks. The broadcast television sub-segment provides Telemundo broadcast networks and NBC. The theme parks segment comprises Universal theme parks in Orlando, Florida, Hollywood, Osaka, Japan, and California. The filmed entertainment segment consists of production, acquisition, distribution, and marketing of filmed entertainment. The Sky business segment comprises a direct-to-consumer business’s operations, providing video, high-speed Internet, voice, and wireless phone services. The corporate & other segment includes operations of other business such as Comcast Spectacor and wireless phone services. The company has a high presence in the North American and European regions. It is a public company listed on the NASDAQ Stock Exchange as NASDAQ: CMCSA.