How does a relatively young startup enterprise grow exponentially and, at the same time, nurture an energetic, conscientious and highly productive work environment? For Xceedance, the answer is to define success in the context of a distinct and practical set of values and cultural principles.It also means diligently pursuing a strategy to develop talent that will eventually rise to international leadership roles in the industry served by the company.
Xceedance is a consulting services firm that provides innovative business and technology solutions to insurance organizations worldwide. The company's diverse capabilities help insurers enter new markets, enhance policyholder service, boost operations and workflows, and improve profitability. With an exceptionally talented and diverse workforce steeped in domain expertise, Xceedance has developed a strong reputation as an effective and trustworthy partner within the insurance industry.
Unique among organizations originating in India, Xceedance has achieved remarkable growth since its founding as a self-funded startup in 2013. Without raising any external capital, the company is profitable and thriving. Revenues in 2016 exceeded 100 crores, making Xceedance one of the most successful startups launched in the last five years. Having tripled its workforce in each of the last four years, the company employs approximately 850 professionals worldwide.
Recently, the company expanded its global footprint with the launch of a new service delivery center in Poland, in addition to key offices in the United States and the United Kingdom. In India, Xceedance operates from four state-of-the-art facilities located in the NCR/Delhi area and Bangalore.
"Our global team is guided by a belief in the pursuit of perfection, which we identify asa continuous journey," saysArun Balakrishnan, CEO. As the name Xceedance implies, the entire enterprise collectively and persistently strives to exceed the expectations of clients and its own teams.
The company also places a premium on teamwork and collaboration. "The spirit of collaboration without boundaries has played an integral role in the rapid growth of Xceedance," Balakrishnan explains. "Through an emphasis on collaboration, we continually foster an environment where everyone has a voice and our teams are not constrained by hierarchies. The values and principles of Xceedance encourage personal growth and collective responsibility. In fact, we operate on the principle that in next 10-15 years, the leaders of global insurance companies will be well-represented by Xceedance alumni."
At Xceedance, cross-divisional collaboration among teams is typical and characteristic of the approach to work. Especially among younger team members, a mindset of curiosity and exploration across segments of the business is encouraged, indeed expected. In the last year, for example, a significant group of Xceedance teammates transitioned into new areas of work and responsibilities — to expand their experience and pursue opportunities over and beyond their originally assigned roles.
Every individual at the company is encouraged to develop a sense of entrepreneurship and a healthy determination to fulfill responsibilities."The Xceedance workplace is best described as one with appropriate professional freedom and empowerment," says Manish Khetan, EVP. "Our organization is not driven by a top-down structure or outlook. Anyone can reach out to the leadership team or across the enterprise with ideas and suggestions. And we especially don't believe in micro-management. Just the opposite; based on confidence in the intelligence and integrity of our workforce, we focus on empowering people to make purposeful decisions and take thoughtful actions."
To ensure the workforce is fully equipped to make effective choices, the company offers comprehensive learning and development programs. Xceedance strongly believes in supporting the capabilities, sense of ownership and professional potential of its people."The entire organization has continuous access to well-crafted channels and tools to grow and fulfill career aspirations.Our people-driven philosophy demands that the ultimate control of careers is placed in the hands of every individual in our workforce," explains Amit Ranjan, SVP. "Teammates are encouraged and directed to achieve insurance domain certifications. Significant investments are also made in professional development, including in pragmatic topics such as leadership, communications and team building."
The company takes a modern approach to the work-life balance of its team members. Rather than tracking work hours, managers concentrate on outcomes. "We're not preoccupied with standard or traditional job shifts. Instead, what matters is that the work gets done with quality, attention to detail and timeliness," commitment says Amit Tiwari, EVP. "We believe our people have the mature commitment to contribute the required effort, reach out to appropriate resources, and leverage suitable technology and tools to complete their work. Often, this conviction increases productivity and the sense of responsibility within and among our teams. At the same time, teammates need some flexibility to meet personal and family obligations. In our company, people are trusted and empowered to make smart professional and personal decisions."
Xceedance recognizes the importance of team development and relationship building. Each year, the company hosts several outings and celebrations. Recent all-hands events involved the entire global organization and various activities for specific business units.
With continued focus on service delivery and process excellence, Xceedance looks forward to adding new clients, expanding service capabilities and product offerings, and preparing its people to become leaders in the insurance industry.