WNS is a business process management (BPM) outsourcing company. Large enterprises in insurance, travel, banking, healthcare, retail, and manufacturing outsource back-office and middle-office processes to WNS to reduce costs and access specialized expertise. WNS runs these processes — claims processing, accounts payable, customer service, actuarial modeling, financial research, fraud analytics — from offshore delivery centers, primarily in India, at a significant labor cost advantage relative to in-house US and UK operations. WNS organizes its business into industry verticals (BFSI, Travel & Logistics, Manufacturing & Retail, Healthcare) and cross-industry horizontal units covering Finance & Accounting, Customer Experience, Analytics, and Technology Services. Insurance is the largest single vertical at roughly 30% of revenue. WNS charges clients via FTE-based pricing (clients pay per employee deployed), transaction-based pricing (per unit of work completed), or outcome-based fixed-price contracts. About 29% of revenue comes from these non-linear models, and WNS is deliberately shifting toward them to de-link revenue from headcount. Profitability depends on maintaining the labor cost arbitrage between Western client billing rates and Indian delivery costs, managing employee utilization, and navigating FX exposure — WNS earns primarily in USD and GBP but pays costs largely in Indian rupees. WNS uses a "land and expand" sales model with long contract cycles, and has pursued acquisitions to add automation and analytics capabilities.