Xchanging Boosts Presence in Asia with Launch of Insurance and Procurement Offerings

SINGAPORE, March 21, 2013 /PRNewswire/ –

Netsett – Global reinsurance and accounting net settlement service

Vault – Technology-enabled procurement platform designed to manage sourcing project
workflow

Xchanging, the business process, procurement and technology services provider and
integrator, today announced a strategic commitment to grow its Asian capabilities by
introducing two core offerings, Netsett and Vault, in the region as part of its global
services. These solutions are built upon the principles and benefits enjoyed by both the
London insurance market and organisations using procurement to improve project workflow
tracking respectively.

Streamlining cash flow for insurance carriers and tracking cost savings

The global reinsurance market is an increasingly complex and regulated business. Based
on an existing service in the London insurance market, Netsett
[http://www.xchanging.com/what-we-do/bpo/netsett ], a netting and settlement solution, was
designed with the aim of improving the accounting and settlement of payments between
participants in the global insurance and reinsurance community. By simplifying the netting
and settlement between entities, the platform allows insurance groups to reduce the amount
of working capital needed whilst improving transparency and control.

Following its initial launch in 2012, Xchanging is also introducing Vault to the South
East Asia market. Vault is a technology-enabled procurement platform designed to manage
sourcing project workflow across organisations. Vault measures, tracks and reports
realised savings at both a commodity and business unit level. A common complaint among
Chief Financial Officers is that they do not have sufficient insight into projected
savings from the management information currently provided by Chief Procurement Officers.
Vault enables organisations to capture business needs and monitor them throughout project
milestones to track savings to the bottom line.

“As more multinational companies expand into Asia, they require global standards to
ensure that their businesses are aligned with regulatory compliance,” said Joe Poon,
President, Asia Pacific, Xchanging. “Netsett and Vault are platforms that not only provide
businesses a methodology to improve their efficiency but also ensure that there are clear
structures and systems in place to measure results and support business outcomes.”

In response to the region’s growing demand for its core offerings, Xchanging has
invested heavily in its manpower and resources. About 30 percent of Xchanging’s current
senior executive team in the region are recent hires from diverse backgrounds. This
reflects the goal of a fast growing company aspiring to meet the market demands for
innovation in the industry.

Xchanging Asia Pacific

With a headcount of 4,500 in 18 offices, servicing over 250 clients, Xchanging Asia
Pacific has been growing its customer base in the recent years, fuelled by offshoring and
expansion into Asia. Its footprint currently stretches to include Singapore, Australia,
Malaysia, India, and Japan, with clients also in Thailand and Indonesia. In 2012,
Xchanging announced a joint venture in the region with YTL Corporation Berhad. Other major
client wins include one of Germany’s largest banks and two of the largest global
reinsurance providers.

The company announced its financial results for the full year ending 31 December 2012
on 28 February. The results showed year-on-year improvement in financial performance on
all key performance indicators. The company’s organic revenue grew by 5.6 percent on a
like-for-like basis and full year cost efficiencies were delivered as planned.

About Xchanging

What we are

Xchanging provides business processing [http://www.xchanging.com/what-we-do/bpo ],
technology outsourcing [http://www.xchanging.com/what-we-do/technology ] and procurement
services [http://www.xchanging.com/what-we-do/procurement ] internationally for customers
across multiple industries.

What we do

Xchanging brings innovation, thought leadership and passion to its customers’
businesses so as to enhance performance and value. Our values are embedded into everything
we do.

What we want to be

Xchanging wants to be regarded as the best provider in its chosen markets by
delivering services that are recognised for outstanding quality, reliability and
innovation.

http://www.xchanging.com

For more information, please contact:

        Xchanging plc
        Tim Hymans, Global Head of Marketing
        Tim.Hymans@Xchanging.com
        Direct: +44(0)207-780-5137
        Mobile: +44(0)7917-270-625

        LEWIS PR for Xchanging
        Gina Daryanani/Pamela Philip
        Xchanging@lewispr.com Direct: +65-6571-9154

SOURCE Xchanging