May 24, 2011
Why BPO firm EXL is growing faster & performing better than peers
Last month EXLServices Holdings, a provider of back-office services, clinched a deal to acquire a former KPMG captive and a dedicated provider of finance and accounting services, Outsource Partners International (OPI).
The deal will make EXL one of the leading players in the finance and accounting (F&A) segment, the largest category of outsourced services after voice-based services
May 2, 2011
Tech Mahindra commences BPO operations in Philippines recruiting 600 associates
IT firm Tech Mahindra today announced that it has started BPO operations at Manila in the Philippines and has recruited 600 associates locally for this new operation.
"The Philippines is not only a key market for us, but also a strategic location from where we plan to service our global clients. We look forward to strengthening our presence in the Philippines," Tech Mahindra President - Corporate Affairs and Business Process Outsourcing Sujit Baksi said in a statement
April 27, 2011
Nasscom sees strong spurt in tech demand
Technology industry body National Association of Software and Services Companies (Nasscom) sees a strong revival of demand that could not only help meet, but even exceed, growth expectations for 2011-12. Newly-appointed Nasscom chairman for 2011-12, Rajendra S Pawar said in an interaction with ET: "We are coming back to growth levels seen prior to the slowdown and in the near term we see lot of headroom to catapult this growth.''
When asked whether this means Nasscom will revise its 15-17 % growth target for the year for the $70 billion technology and business services sector, Pawar said, "it's too early to comment, but we are on track to exceed this target.'' Pawar, 60, co-founder and chairman of education software company, NIIT , took over as Nasscom chairman from Harsh Manglik.
April 21, 2011
India's data services market at Rs.11,800 crore by 2012
India's data services market, growing at a compound annual rate of 23 percent since 2010, is expected to touch Rs.11,800 crore ($2.6 billion) by 2012, said a study released Thursday.
The study -- India Data Center Services Market Review 2011 -- conducted by research firm CyberMedia Research , also said that the third party data services market, which makes up for 20 percent of the market, is also slated to grow at 34 percent to touch Rs.2,800 crore during the period under review.
April 18, 2011
First Source to hire 500 people for its Hubli centre
Business Process Outsourcing company Firstsource Solutions today said it plans to hire over 500 customer service associates at its Hubli centre to service the customers of two telecom service providers. "Hubli has a strong education system and multilingual talent in abundance which should be leveraged to deliver high quality work for the clients," Sanjay Venkataraman , executive vice-president and Head of Asia Business Unit, Firstsource Solutions
April 13, 2011
India's domestic BPO market to be worth $1.4 bn in 2011: Gartner
The country's domestic market for business process outsourcing is projected to grow over 23% to touch $1.4 billion this year, says Gartner. In 2010, the domestic Business Process Outsourcing (BPO) market was worth $1.1 billion. "It is relatively good growth rate (of over 23%). The domestic BPO market is expected to see increased volumes, especially in the telecom space," Gartner's Research Director T J Singh said.
April 7, 2011
Genpact acquires Headstrong for US$550 mn
Genpact Limited acquires Headstrong Corporation for $550 million.Headstrong is a complementary high-growth business, built by talented leaders, that is an excellent fit strategically, financially, operationally and culturally. With this acquisition, we are gaining critical domain and technology expertise in the complex, but highly attractive, capital markets industry vertical.
March 25, 2011
IT-BPO industry to cross $ 76 billion revenue in FY11: Nasscom
Pent-up demand for IT-BPO services and return of discretionary spending in the market were the key drivers for the industry performance," Nasscom President Som Mittal told reporters here.
Exports would continue to be the mainstay of the industry with estimated growth of 18.7 per cent to USD 59 billion revenue
March 22, 2011
Revenue nears $2 bn; to hire a few thousand in India: Dell
The world's second largest computer-maker Dell today said it is approaching $2 billion in annual revenue in India. The company, which has 23,000 employees in India, also plans to add "few thousand" people.
March 1, 2011
US turnaround will revive indian IT's fortunes: Jyotivardhan Jaipuria
We are overweight on the software sector due to its improving growth outlook. Our optimistic stance is driven by three key factors. First, the US recovery is helping provide a much better environment for software companies. With the US GDP forecast to grow at 2.5-3% (we expect 2.8%), companies are seeing strong demand and high visibility on order inflows.
The banking, financial and insurance vertical is witnessing demand driven by regulatory compliance, risk management, business rationalisation, etc
December 23, 2010
KPO business to touch $10 bn by 2012: Assocham
India's Knowledge Process Outsourcing (KPO) business could touch $10 billion by 2012, if the sector is opened for biotech and nano experts.
Currently, the KPO market size is estimated to be around $5.5 billion and the sector is growing by about 15-17 per cent. Assocham has projected KPO industry's size growing to $8 billion in 2011 and touching the 10 billion mark by 2012 with a growth rate between 25-27 per cent subject
December 23, 2010
Spanco bags Rs.85 crore Goa IT project
Technology infrastructure company Spanco Ltd. Thursday said it had baggedan infotech (IT) project worth Rs.85 crore from Goa State ElectricityBoard.
"This is Spanco's fourth consecutive win in this space. It hasalready bagged similar projects in the states of Punjab, Maharastra and Bihar,"the company said in a regulatory filing.
December 15, 2010
TCS bags $100mn core banking tech deal from Deutsche Bank
India’s top IT exporter Tata Consultancy Services (TCS) has won a multi-million dollar deal from Deutsche Bank for its core banking software.
The deal is the one of largest for the financial software products division of TCS and one of the biggest banking product deals of 2010, its president N Ganapathy Subramaniam said. TCS will implement TCS Bancs — its core banking software — in 30 countries where Deutsche Bank has operations and others where the bank plans to launch operations.
December 14, 2010
Sequoia leads $30 million funding in iYogi
Business-to-consumer outsourcing is emerging as a hot sector for private equity investments. Industry major Sequoia Capital is leading a $30-million round of investment in iYogi, an independent technical support company, with participation from existing investors Canaan Partners , SVB Capital Partners , SAP Ventures and Draper Fisher Jurvetson.
December 13, 2010
Tech billionaires: Gates, Jobs among top 5 influential geeks
Microsoft founder Bill Gates , and Apple Inc’s iconic CEO Steve Jobs seems to have become the rulers of the tech-world, featuring among five of the most influential geeks on earth, says a magazine, ExecDigital.
The credit of changing our lives and the entire world with the latest technologies also goes to the software major Oracle Corp CEO Larry Ellison , Larry Page , cofounder of internet search titan Google and telecom czar Carlos Slim Helu , the report added
December 8, 2010
Indian IT sector now in good shape, set for good growth: TCS
Tata Consultancy Services (TCS) today said India's multi-billion IT industry is now in a "good shape" and the domestic market would record a substantial growth in the coming days.
"The IT industry is now in a good shape and the industry will post substantial growth in the coming days (in the domestic market)," TCS Vice-Chairman S Ramadorai told reporters here
December 5, 2010
Indians will be 50% of global workforce in 3-5 yrs: Capgemini
Capgemini today said it expects the size of its Indian workforce to grow to about 50 per cent of its total global headcount within the next three to five on the back of organic growth initiatives.
The company is tipped to have about 31,000 employees in India by the end of December, 2010, with the net addition of around 11,000 personnel to its payrolls during the course of the year.
December 5, 2010
Global cloud computing mkt to be worth $30bn in 4yrs: Gartner
The global market for the 'transformational' cloud computing technology is expected to be worth over $ 30 billion (around Rs 1.35 lakh crore) in the next four years, according to a senior official at research group Gartner.
Cloud computing refers to the technology, whereby entities can share resources and software on-demand through the internet.
November 28, 2010
Persistent Systems eyes overseas buy in range of $ 10-15 mn
Outsourced software product development (OPD) firm, Persistent Systems, is looking for an $ 10-15 million overseas acquisition, preferably in North America, a top company official said.
"Acquisitions are a part of our expansion strategy. They enable us to enhance our business and technology expertise. We are looking for an overseas acquisition while also being open to domestic buys," Persistent System's Managing Director, Anand Deshpande
November 25, 2010
Capgemini acquires domestic IT services firm Thesys
IT consulting major Capgemini has snapped up domestic IT services firm Thesys Technologies for an undisclosed amount, an acquisition that will boost the French entity's global delivery capabilities.
Capgemini, which has a good presence in India, is a provider of consulting, technology and outsourcing services.
November 24, 2010
‘ICT spending to grow by 11% to $95.5 bn in 2014’
India Inc is expected to spend around $95.5 billion on information and communication technology (ICT) in the country by 2014, driven primarily by hardware and telecom, research firm Gartner said on Tuesday.
From a spending of $56.8 billion in 2009, it is estimated that the ICT spending in India will grow at a compound annual growth rate (CAGR) of 10.9% to reach $95.5 billion in 2014, Gartner said in a statement.
November 21, 2010
BPO companies' overseas strength multiplies
Mumbai-based BPO company Aegis has more employees overseas (27,000) than in India (20,000). Its operations are spread across ten countries, from the US and Argentina through Kenya and South Africa to Australia. 24/7 Customer has 3,000 employees in India, and 6,000 overseas, in countries like the Philippines, China, Guatemala and Nicaragua. And many other BPO companies are headed in the same direction—setting up a combination of onshore, nearshore and offshore centres.
November 18, 2010
Infosys, TCS, Wipro parcel off work to small companies
India’s top technology firms are for the first time beginning to explore sub-contracting of projects to smaller vendors.
Though they account for less than a per cent of the total projects delivered by TCS , Infosys and Wipro , officials and experts tracking the sector say these companies could sub-contract up to 5% of their work over the next five years.
November 13, 2010
TCS clinched UK 10 year Pension deal
The coalition government in the UK has confirmed the 10-year contract for administration of the state pension scheme awarded to India’s top software exporter Tata Consultancy Services (TCS), ending months of uncertainty over it. The contract is valued at around £600 million (over `4,000 crore).
November 10, 2010
Indian IT industry hails Obama's outsourcing stand
"Obama did a great job for our industry by terming them (anti-outsourcing lobbies) as stereotypes. I think his administration will also do a great job in terms of changing those stereotypes," IT industry lobby Nasscom president Som Mittal told reporters
November 10, 2010
BPOs empower women in rural areas
In rural conservative parts of Haryana and Rajasthan, women are increasingly being empowered by seeking and finding employment in various backoffice jobs such as data entry and research, thanks to various initiatives undertaken by the rural BPO industry.
Teekli and Bagar, dusty hamlets in Gurgaon and Jhunjhunu, where most women are found in purdah and are not permitted to venture outside their homes are gradually witnessing a silent revolution through Business Process Outsourcing that allow women to find jobs within the boundaries of the village and in turn become financially independent.
November 3, 2010
European lawmakers bat for outsourcing to India
Unlike US President Barack Obama , European lawmakers find outsourcing jobs , products or services to India mutually beneficial, creating a win-win situation. "Outsourcing is now seen more as a partnership than losing jobs. Success of Volkswagen cars in India provides more opportunities for our firms back home in a big way," European parliament member Barbera Weiler said here Wednesday.
October 24, 2010
Domestic IT services market to be worth $13.6 bn by 2014: Gartner
The fast growing Indian domestic IT services market is expected to be worth nearly $ 14 bn in the next four years, courtesy increased government spending, according to research group Gartner. "The country's domestic IT services market is expected to see a Compounded Annual Growth Rate (CAGR) of 16 per cent by 2014, which would make that market worth $ 13.6 bn," Gartner's Senior Research Analyst Arup Roy told media.In 2009, the domestic IT services market was worth about $ 9 bn.
October 23, 2010
Economictimes.com to power the BPO Industry Awards 2010
The Indian BPO industry has established dominance in the off-shoring space with exponential growth over the last few years. In the last financial year, BPO services exports were up by about 18% (source NASSCOM) and the emergence of the domestic BPO was a key highlight. To be held in the capital on October 27, 2010, the event aims to have the presence of Industry big-wigs. The members of the jury include prominent industry leaders like the chairman and MD of Cybermedia, Pradeep Gupta; Chairman & Managing Director, Quatrro BPO Solutions (P) Ltd., Raman Roy and and T. K. Arun, Editor-Delhi, The Economic Times .
October 20, 2010
Aegis buys Argentina's Actionline
The Essar Group-owned back-office firm, Aegis, has acquired Actionline, one of the largest BPO firms in Argentina. The acquisition will give Aegis a 5,000-people strong facility and a presence in the Latin America region, in addition to Spanish-speaking capability that can be leveraged for US and European markets.
October 18, 2010
IT/BPO, auto sectors lead hiring surge in April-June
Led by strong employment trends in the information technology and business process outsourcing (IT/BPO) and the automobile sectors, overall employment across eight manufacturing sectors perked up by an incremental 1.62 lakh during the quarter. The latest survey reports a maximum increase of 1.29 lakh in employment estimates in the IT/BPO sector, followed by 0.51 lakh in automobile industry, 0.45 lakh in the metal industry, 0.21 lakh in leather and 0.04 lakh in gems and jewellery.
October 13, 2010
IKF Tech bags BPO deal from Vodafone; plans to add 2K people
Kolkata-based IT firm IKF Technologies today said it has bagged a contract from telecom major Vodafone for running their BPO operation for the Eastern region. The scope of the contract consists of providing BPO and call centre services to Vodafone in Eastern India comprising Kolkata and rest of West Bengal circles, IKF said in a statement. IKF had bagged a three-year call centre contract from Aircel in the first quarter of this financial year.
October 7, 2010
Barclays acquires 12.75% stake in Intelenet
Intelenet Global Services said British banking group Barclays has picked up 12.75 per cent stake in its holding company SKR BPO Services. Financial detail of the deal was, however, not revealed. It is for the second time Barclays is buying into Intelenet Global. The British banking group had held some stake Intelenet Global but exited in 2007.
September 30, 2010
Firstsource bags $100 mn outsourcing deal from Barclays
Firstsource Solutions said it has bagged a five-year outsourcing contract, worth up to $100 million from the UK-based banking major Barclay Plc's unit Barclayscard.The deal involves management of Barclay card's credit card and consumer lending business, read the company press release.
September 29, 2010
US Senate bare anti outsourcing bill
Indian IT/BPO industries can breathe a sigh of relief as United States' Republican Senates on Sep 28 blocked the anti outsourcing bill, which would have restricted jobs within the boundary of the country.
July 16, 2010
China replaces India as preferred outsourcing destination
NEW DELHI: China has replaced India as the primary destination of outsourcing and shared services for Asia-Pacific companies, according to the
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accounting firm KPMG.
The China Daily quoted the KPMG survey, which covered 280 senior company executives across Asia, as saying that China's outsourcing and shared services are rapidly expanding and winning market share over India and other regional destinations.
June 15, 2010
Wipro Partners With Microsoft For Legal Process Outsourcing
Wipro Technologies, the global IT services business of Wipro Limited, today announced that its Business Process Outsourcing division has partnered with Microsoft Corporation to provide global Legal Process Outsourcing (LPO) for Microsoft's Intellectual Property (IP) portfolio.
April 12, 2010
BPO firms look for new talent to drive growth
NEW DELHI: Business process outsourcing firms across the country are drawing in new leadership as they face challenges in services delivery and
growth. The $11-billion, decade-old sector that redefined working out of India for global Fortune 500 companies for thousands of youngsters fresh out of college, is now looking for fresh faces to drive its next phase of growth.
February 16, 2010
India's IT-BPO market to touch $285 bn by 2020: KPMG
India’s IT-BPO market (including exports) could touch USD 285 billion in 2020 growing at a CAGR of 15 percent. The IT-BPO industry in India has achieved impressive growth rates over the past decade which currently stands at *USD 71.6 billion in 2009. A report release by KPMG and ASOCIO titled ‘Asia-Oceania Vision 2020: Enabling IT leadership through collaboration’ reveled that India the current market leader in global sourcing supply, serving approximately 51 percent of overall global sourcing demand is expected to retain its leadership position by 2020.
January 28, 2010
Genpact wins BPO contract
The United States largest drugstore chain Walgreens has announced a 10-year outsourcing deal with Indias BPO provider Genpact. As part of the contract, Walgreens will shift its accounting processes and jobs to Genpact, a move that will involve transfer of at least 500 jobs. This is Genpacts fourth large deal in past three months, signaling a gradual bounce back in the global BPO business market.
December 2, 2009
More outsourcing to India
With cost saving becoming more important in the downturn, foreign universities are now joining the IT offshoring bandwagon. While most of the educational institutions have begun outsourcing functions like school management and fee collection management, Australia University of Canberra (UC) has gone a step further by outsourcing its entire IT system to Wipro Technologies.
November 11, 2009
Infosys BPO to hire 1500-2000 by end of 2010 fiscal
Infosys BPO, the back-office unit of IT firm Infosys Technologies, on Monday said it would hire 1500-2000 people by the end of the current fiscal.
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