- September 2007
- Aviva’s BPO biz on the block
Aviva Global Services (AGS), the outsourcing arm of insurance major Aviva Plc, is said to be in talks to sell its business process outsourcing (BPO) units in India.It plans to put on the block call centres it owns and runs in Pune and Bangalore. Though specific details are still not available, industry professional says that the company has appointed bankers as preclude to the selling process.
- Health Minister Ramadoss bashes BPO employees, Nasscom defends
Nasscom on Friday reacted sharply to the statement of Health Minister A Ramadoss on the habits and health hazards of employees in the BPO sector, saying the government should not interfere in personal lives of the people.”Nasscom is deeply distressed by the comments, as reported in the media made by the Minister of Health. This is a generalized slur on half a million youngsters working in this industry,” the association said in a terse statement.
- India favourite destination for outsourcing
India still remains the favourite destination for outsourcing! A study by Global Services an industry publication and investment advisory firm Tholons put the Indian cities of Chennai, Hyderabad and Pune at the top of a list of 15 emerging outsourcing destinations for global companies.
- Vertex eyeing India buys for growth
UK-headquartered business process outsourcing (BPO) firm Vertex is looking at acquisitions in India. The company, which got acquired by a consortium led by private equity player Oak Hill Capital earlier this year, is looking at rapid organic growth.
- Outsourcing for India to continue: TCS CEO
India’s largest software and services firm Tata Consultancy Services (TCS) on Thursday said outsourcing to the country would continue, even as the company plans to raise the charges for new clients.Outsourcing firms in India are witnessing a fall in margins due to appreciation in the rupee, which is trading below the Rs 40-a-dollar mark. Companies have to reconsider the fee they charge from customers amidst a worry that outsourcing to the country may witness a fall.
- Cognizant BPO sees huge growth in pharma, healthcare & media
Cognizant Technology Solution’s business process outsourcing division sees a huge potential in pharmaceutical, healthcare and media/entertainment sectors, as it looks beyond the traditional financial services, telecom and manufacturing industries to drive its growth.This underscores the growing importance of non-traditional sectors in Indian offshoring space, even as they open up opportunities for new types of services and shore up demand for a different set of talent pool.
- Ron Friedmann Integreon’s new Senior VP
Integreon, a provider of knowledge support and complex business process outsourcing, announced today the appointment of Ron Friedmann as Senior Vice President, Marketing.Mr Friedmann, 49, is responsible for worldwide product marketing and strategy, sales support, public relations, and marketing communications. Based in Washington, DC, he will report to John Croft, Integreon’s President of Sales and Marketing.
- Indian BPO bets big on $38 bn Infrastructure management deals set for renewal
Multiple infrastructure management (IM) contracts worth around $38 billion are coming up for renewal over the next two years in North America giving Indian IT players an opportunity to bid for them and increase revenues in what is one of the fastest growing and least risk-prone segments in IT business today. The contracts are from different industry segments with those from telecom being the largest at about $22.4 billion, a source tracking these deals said.
- Captive BPO centres begin to pay off
India has long been a favourite destination for multinational companies to set up their own offshore centres for captive use. In recent times, questions have been raised whether this model was viable and capable of scaling up.
- Wipro bags $130 mn contract from Thames Water
In one of the big outsourcing deals, Wipro Technologies has bagged a five-year, $130 million contract from British utility Thames Water. As per the agreement, Wipro will provide integrated IT services encompassing applications support, maintenance and infrastructure management services.
- Usha Martin buys British BPO firm Converso Contact Centres
The Jhawars of the $750-million Usha Martin Group have acquired the UK-based BPO Converso Contact Centres for an undisclosed sum. The acquisition is aimed at spearheading the group’s plans to accelerate its BPO operations in India, South Africa and the UK.
- EXL looking for acquisitions in eastern Europe
Nasdaq-listed business process outsourcing firm, EXL Services, is looking for acquisitions in Eastern Europe to build multi-lingual capability and offer services in languages like French, German, Italian and Spanish. The company is already evaluating a few firms, each with annual revenues in the range of $10 million to $25 million, a senior company official told ET.
- BPO employees not tax-savvy: Survey
IT /ITeS employees, in the 22-34 age bracket, are not known for being tax-savvy. Besides, their investment behaviour too is skewed to traditional options like PF and PPF against equity instruments, according to a study conducted by investment advisory and wealth management firm Right Horizons.
- KPOs finding greener pastures in India too
The overseas-focused knowledge processing outsourcing (KPO) firms in India are now finding greener pastures back home too as there is increasing traction from domestic businesses seeking these high-end services.Though a small business currently for the many of the KPOs based in India, it is expected to grow to a larger size as the domestic companies are becoming more sophisticated in their operations.
- Fed rate cut to bring more business to IT and BPO
The IT and BPO companies expect to gain from the US federal reserve’s larger-than-expected 0.5 per cent cut in the benchmark interest rate. Service providers believe that it will boost the US economy, thus bringing in more business for the IT-BPO companies.
- Insurance BPO to create 1 lakh jobs in India
Amid falling margins and rising competition in the insurance sector globally, India has emerged as a net gainer with the country likely to generate $2 billion revenue and over one lakh jobs through insurance outsourcing business by 2010, a KPMG report says.
- BPOs augur well for old economy firms
The $9.5-billion business process outsourcing (BPO) sector is once again hogging the limelight.Old economy companies such as Hero, M&M, Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
- Taxmile buy brings end-to-end benefit for 3i
3i infotech is gearing up to take advantage of the government’s initiative to facilitate online income-tax filing. Its decision to acquire a 26% stake in the Mumbai-based e-tax filing company – Taxmile.com – will help the company break through in this new service segment. Based on the growth of this segment, 3i has retained the option to purchase the remaining stake in Taxmile.com.
- TCS, Wipro, Infy, Capgemini in race for $125-m ING deal
Top IT services companies are in the race to bag a $125-million contract from $95.6-billion Dutch insurance and banking giant ING. Infosys Technologies has already put in a bid for the three-year IT outsourcing contract while TCS and Satyam are also reported to be pitching for it.
- Aviva defers taking back BOT contracts
Two leading India-based business process outsourcing firms, WNS Global Services and EXLService Holdings, got a breather as their client Aviva has deferred by three months a possible move to take back its build-operate-transfer (BOT) outsourcing contracts with them. Such a transfer typically leads to a sharp fall in revenues for the service providers. But with Aviva extending the date for exercising its transfer option, the earliest the shift can take place is only in April 2008, a source said.
- Citigroup rides BPO arm to foray into SEZ space
Amidst market speculations that Citigroup is looking for buyers for Citigroup Global Services (CGSL), it is now reliably learnt that the financial services major is looking to set up special economic zone (SEZ) units in the country through CGSL. The world’s largest banking group by market capitalisation is looking to form a new subsidiary under this business process outsourcing (BPO) firm which would make downstream investments for setting up SEZ units.
- Hero group acquires Scotland’s TSC for 40 mn pounds
Hero Group has acquired Scotland’s largest call centre company, Telecom Service Centres (TSC), in a deal worth £40 million. TSC, which employs around 3,000 people, would be merged with the group’s call centre subsidiary, HeroITeS. The new entity will be christened TSC Hero and will offer customers a multi-site solution, increasing market potential and growth prospects in the core markets of Europe, Asia and the US.
- Aspect Rolls Out Contact Center Optimization Suite
Aspect has done more than merely package complementary functionality. The value it brings to PerformanceEdge is unification, which allows companies to leverage a deeper level of information about their customer interactions from agent performance, response times, average handle times, call recordings to campaign metrics, according to Bob Kelly, vice president, PerformanceEdge Group at Aspect Software.
- ValueNotes, 2nd in Black Book of Outsourcing-07
ValueNotes, a business research and competitive intelligence firm announced today that it has been rated as the Number Two market analysis and research vendor as per survey results published in the 2007 edition of “The Black Book of Outsourcing.”“We feel honoured to be in the top league among global market analysis and research firms, as the Black Book rankings are based on customer inputs,” said Arun Jethmalani, Managing Director of ValueNotes India. The firm is an end-to-end research services provider to clients across the globe.
- VRM Anyone?
Companies developed purchasing departments to centralize and coordinate the purchasing process. A purchasing department could negotiate all kinds of things with vendors, most importantly terms, quality and standards. On the personal or consumer side, though, there isn’t much technology and certainly no equivalent of CRM.
- India rules as favourite global destination
India continues to rule as the favourite global destination, even though factors like emergence of cheaper destinations, employee and salary crunch are adversely affecting the sector, a recent study shows.A recent study by recruitment solutions provider Elixier Solutions shows that India holds an edge as it commands global confidence to produce perfect Turn Around Time (TAT).
- ITeS workers get wage moderation by ’08
Industry NASSCOM said that the wages of IT and BPO workers would see moderation beginning next year as manpower supply to improve.
- EXL eyes local clients
Nasdaq-Listed Exl Services is entering the domestic business process outsourcing market. This makes it the second major BPO to take on projects at home, after Firstsource Solutions, which entered the Indian market with mobile phone operator Hutch as its first client.“We hope to sign up some clients in the third quarter,” EXL chief operating officer Rohit Kapoor told ET. The company’s move into the domestic market will help it hedge itself against the rupee appreciation and also address the growing opportunities here, he said.
- India star of region’s performance in BPOs
Asia-Pacific has been the only region to show growth in the business process outsourcing (BPO) market in the first half of 2007.
- The Evolution of CRM 2.0
Businesses are learning to communicate to the customer in the manner that they, the customer, want to be marketed. Not only does this alleviate a great deal of marketing waste; the customer is also happy to not receive spam, get another unwanted voicemail, or toss another direct mail piece into the recycle bin.
- 3i Infotech buys 51 per cent in HCCA
IT firm 3i Infotech Ltd has said it has acquired 51 per cent equity stake in BPO services provider HCCA Business Services Pvt Ltd (HCCA).HCCA has been acquired for its delivery capabilities in HR operations, including large scale payroll processing for clients in the BFSI sector, a company statement said.
- Aviva’s BPO biz on the block
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