- Nasscom’s recommendations for IT-BPO industry
The Nasscom Governance and Ethics Committee on Tuesday released its recommendations aimed at further strengthening corporate governance practices in the Indian IT-BPO industry. The report by the committee, set up last year comprising industry experts and chaired by Infosys mentor N R Narayana Murthy, enumerates a set of detailed voluntary recommendations with an objective to establish highest standards of probity and corporate governance within the IT-BPO industry.
- CBay plans to shift half of its work to India
CBay Systems — a leading healthcare BPO, that services nearly 40% of the US hospital market — is looking to become a $1-billion company and shift nearly half its work to India in the next two years.This comes within days of CBay acquiring a bankrupt clinical documentation firm Spheris in the US, which, in turn, has increased CBay’s revenues to $500 million.
- IT/BPO firms increase hiring but exercise caution
With business showing signs of normalcy returning and projects increasingly getting the green signal from clients, the information technology/business process outsourcing (IT/BPO) sector has started increasing its hiring after a lull of almost two years.India’s second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year. So does India’s largest IT firm, Tata Consultancy Services (TCS), which plans to hire 30,000 (almost 38,000, if one were to include its subsidiares). HCL Technologies, too, plans to hire 5,000 freshers in 2010, compared with the 2,000 it hired in calendar year 2009. In the quarter gone by, the gross employee addition was 7,136, taking the headcount to 58,129.
- Patni wins integrated IT, BPO services deal from US company
Information Technology and BPO services provider Patni Computer Systems said on Tuesday it has won a multi-million dollar deal from Universal American, a senior health insurance company in the US.”It is a five-year agreement for providing end-to-end policy administration services for Universal American Corp,” Patni Computer said in a statement here.
- Aegis Srinagar BPO to kick off with Vodafone deal
Aegis’s Srinagar BPO has entered into a deal with Vodafone Essar to take care of its customer call traffic from Uttar Pradesh east. The Essar Group-run firm is now hunting for partners so that the unit in the troubled Jammu & Kashmir capital can begin operations.The facility is offering hundreds of Kashmiris working in Delhi and NCR a chance to return home. The team that will manage the BPO also consists of those who had worked outside the Valley. Omar Wani, the Aegis Srinagar centre head, left Barclays to become the team leader. Parvez Sarfaraz resigned Wipro to head its HR.
- CBay buys Spheris for $116 mn
CBay Holdings, a global medical transcription (MT) company, completed the acquisition of another MT company Spheris for $116.3 million last Friday. The deal would boost CBay’s revenue by $500 million this year.In the two-phased acquisition, CBay’s subsidiary MedQuist acquired the North American assets of Spheris while CBay bought out the entire stock of Spheris India. Spheris had earlier filed for bankruptcy protection in the US court.
- Will see decline in BPO rev next few quarters: HCL TechHCL Technologies has announced its third quarter results of FY10. Its consolidated net profit increased 20.06% to USD 76.6 million versus USD 63.8 million, on quarter-on-quarter basis (QoQ), as per US GAAP.The management believes that HCL Technologies would see a decline from BPO revenues for a couple of quarters.
- News Roundup: Quatrro BPO Raises $13M In Series B Round
Quatrro has earlier raised $90 million in the first round of funding in which Olympus has also participated.Quatrro BPO Raises $13M In Series B Round – Quatrro BPO Solutions Pvt Ltd, a global services company led by Raman Roy and offering business and knowledge processing services to organizations, has raised $13 million from Walden International, Olympus Capital and other individual investors. The company has raised its series B round. It has earlier raised $90 million in the first round of funding in which Olympus has also participated. Quatrro has also acquired a few companies in BPO space earlier including Babel Media in UK. (ET)
- iGate looking at acquisitions in healthcare & financial BPO
The Nasdaq-listed company iGate has said it is planning to recruit 500 people in the next six months to support its expanding operations.iGate CEO Phaneesh Murthy said, “Most of the 500 people we plan to hire in over the next six months will be in India and some in Mexico and the US. They will be employed in both services in BPO areas.”
- Microsoft outsources internal tech care to Infosys
Microsoft has outsourced its internal tech support to Indian technology services firm Infosys, the companies have announced.The move was first revealed in an Infosys press release Tuesday announcing a three-year deal to “manage internal IT services for Microsoft worldwide” and later confirmed by the US software giant.
- Satyam will take two years to rejoin race against TCS, Infy & Cognizant: CEO
Beleaguered Satyam Computer, which was taken over by the Mahindras a year ago and renamed as Mahindra Satyam, is still facing major operational challenges, said CEO CP Gurnani. He said the company will take two more years to rejoin the race against erstwhile peers TCS, Infosys and Cognizant.“At the time of acquisition, we had presented a three-year transformation plan. The company still needs another two years to level out on some scorecards. It has been structurally reorganised to reduce the management layers between the CEO and a trainee engineer from 14 to seven. These changes have happened for transparency, collaboration among teams and for better customer centricity,” he said.
- KKR in talks with ICICI to buy stake in Firstsource
US private-equity firm Kohlberg Kravis Roberts & Co is in talks to buy a controlling stake in Indian back-office service provider Firstsource Solutions, three sources with direct knowledge of the matter said.KKR is negotiating to buy a stake totalling about 68 percent of the IT services company from No. 2 Indian lender ICICI Bank, Singapore state investor Temasek Holdings and US-based banking technology group Metavante, the sources said.
- Rural BPO staffers end strike
The employees of Mpro Solutions, a BPO in Srirangapatna, have withdrawn their strike. In what can be dubbed as the first strike in a BPO, the employees had risen in protest against the low wage rate, says the Deccan Herald. The employees were pacified after the management promised to look into the issue.The staff was unhappy over the fact that in spite of the company making high profits, they were not being paid reasonable wages. So far they had attempted to convey their grievances to the management through peaceful protests, which had gone unheard. Therefore they had to resort to striking, says the report.
- Domestic WNS wins best BPO award in Philippines
TWNS has won the ‘Best BPO Locator of the Year’ at the 2010 International ICT Awards ceremony in Manila. The Business Processing Association of Philippines (BPAP) and the Canadian Chamber of Commerce of The Philippines come together to organize the Awards.WNS Philippines has witnessed a good growth in the short time since its foundation. It has also contributed to corporate social responsibility initiatives and the ICT industry in Philippines.
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