WNS (Holdings) Limited (NYSE:WNS) Q3 2020 Earnings Conference Call - Final Transcript
Jan 16, 2020 • 08:00 am ET
of WNS' sales organization. Obviously, the most visible sign of change has been the increase in the size of our global sales team which has grown from 41 resources in 2010 to 109 at the end of this quarter.
While this expansion has been significant, I believe the biggest change to our sales organization has been the upgrade of the quality and capability of our sales professionals. First, we have successfully separated the team into hunters, responsible for new logo generation and farmers, tasked with expanding existing relationships and aligned these two different skill sets with our vertical organization structure.
Second, we have changed the hiring profile of our team members. Today, our sales resources each average more than 20 years of experience and are joining WNS from a broad range of sources, including direct from industry, global consulting firms, systems integrators, IT service firms, analytics companies and technology firms, most have deep industry and domain backgrounds and proven track records of selling solution-based services.
Third, WNS has added niche specialized sales skills in high impact areas such as analytics and technology and to support our acquisitions of unique assets including Denali and HealthHelp.
As a result of our investments, the current sales team looks dramatically different than the 2010 version and has enabled WNS to not only drive industry leading growth over the past few years, but to also build a healthy pipeline for the future. Over the past four years, our existing sales team has helped WNS deliver superior revenue growth at healthy margins.
The Company has now added 104 new clients, expanded 172 existing relationships, and renewed or extended 248 contracts. We also announced that the average ACV and TCV of signed deals continues to improve.
As a result, in the past three fiscal years, WNS has posted organic constant currency growth averaging 12.7% and we have just updated our constant currency guidance for fiscal 2020 to 13% to 14% with one quarter remaining in the year. While we are pleased with our past revenue performance, we're equally excited about our opportunities moving forward.
Our new logo, hunting pipeline, continues to grow and we are seeing a steady increase in the volume of large deals. These opportunities are increasingly domain-specific, transformational in nature, technology-enabled and outcome-based. Many of these deals are advisor led and improving our positioning with these key influencers over the past few years has been a focus area for our sales and marketing organizations.
Today, WNS consistently receives high marks from the sourcing advisors and the industry analysts for our domain-led solutions, flexible and innovative approach, and the ability to help clients drive market differentiation. As a result, we have seen a steady increase in RFP invitations from this channel. Our reputation for developing innovative solutions is also enabling WNS to participate in an increasing number of sole source conversations which do not follow traditional RFP processes.
These deals are highly strategic in nature and involve WNS working closely with the client to co-create