- Genpact signs 5-Year contract with Carnation Auto
Genpact and CarnationAuto, an auto sales and service venture, have announced the signing of a five-year contract for Carnation Auto’s operations.Under this engagement, Genpact will design and manage Carnation Auto’s core processes, including finance & accounting, customer relationship management, procurement & supply chain management and human resources. These key processes will be supported by Genpact’s analytics and reengineering capabilities to enhance their overall management and delivery.
- BPOs embrace ‘onshore’ outsourcing to boost business
Having successfully serviced American and European clients from India for almost a decade, BPOs are now strengthening their ‘onshore’ presence in these countries to tap new opportunities.Offshore outsourcing is the practice of hiring an external firm to perform some business functions in another country at lower costs. When the work is done in the same country, it is referred to as ‘onshore’ outsourcing.
- NASSCOM to shy away from terms like outsourcing, offshoring
Gains from exports notwithstanding, India’s IT industry lobby group NASSCOM is shying away from using terms such as “offshoring” and “outsourcing” in view of its apparent “negative connotations” in some of the mature markets such as the US.”I think we have to remove ‘offshoring’ from our vocabulary”, President of NASSCOM (National Association of Software and Services Companies), Som Mittal said.
- Aegis buys Sallie Mae unit, saves 350 US jobs
Indian outsourcing services provider Aegis seems to have rescued employees at the Killeen, Texas, centre of Sallie Maefrom possible unemployment. The Essar group company said on Wednesday it will acquire the Sallie Mae centre along with 350 employees.Recently, the student loan provider had announced company-wide job cuts numbering nearly 2,500, as part of a restructuring exercise viewed as a fallout of the US government taking over the lending of student loans from private firms.
- UK’s Conservative view on offshoring worries ITThe newly formed coalition government in the UK is reviewing at least six outsourcing contracts, including the $850-million pension administration deal signed by the Labour government with Tata Consultancy Services (TCS) earlier this year.The new political leadership led by Conservative prime minister David Cameron and chancellor George Osborne plans to split up these contracts into smaller parts in a bid to cut government spending by nearly $9 billion this year.
- BPO Firm Accentia To Buy Firms In Legal Process DomainAccentia is looking at firms that provide services to companies in the US, UK and Canada.Mumbai-based business process outsourcing firm Accentia Technologies Ltd is planning to chase an inorganic strategy to build its presence in the legal process domain. The company is currently in talks with some prospective companies, and is expecting to close a couple of deals in the next few weeks, it said in a statement.
- Indian BPO to employ prisoners to process bank work
In what has been billed as ‘a unique public-private experiment’, an Indian outsourcing company that claims Royal Bank of Scotland and Goldman Sachs as its clients, is to employ inmates at the Cherlapally Central Jail in Hyderabad to help process bank paperwork.According to The Times, about 250 prisoners, both convicts and those awaiting trial, will carry out work for Indian banks and insurance companies after receiving training in basic tasks such as typing application form details into computers.
- Sutherland to acquire US BPO firmUS-based Sutherland Global Services announced the acquisition of Adventity Global Services, a business and financial research and analytical services company. The 100 per cent acquisition was estimated to be for around Rs 2.5 billion (Rs 250 crore) and concluded through an all-cash deal.
- Infosys BPO launches sales-support solution
Infosys BPO has launched a sales-support solution to reduce the amount of time spent by sales organizations in non-value adding administrative tasks.The suite of services includes lead qualification, customer profiling, quoting, pricing, service revenue assurance and channel partner support.
- EXL hiring 3,800 in India by year end
Noted BPO firm Exl is planning to recruit 3,800 professionals by December this year, reports Businessline. The firm has already hired 1,200 employees in the first three months of this year the newspaper notes.It quoted the company CEO Rohit Kapoor saying new employees would be recruited for Noida and Jaipur centers. EXL has also reportedly handed a wage hike of 8-9 per cent.
- Sutherland close to buying out Adventity
Sutherland Global Services, a multi-national BPO provider with significant offshore operations in Chennai, Kochi and Mumbai is close to acquiring Adventity, a BPO focussed on the financial services space, according to sources close to the development.The deal size is pegged at $40-$45 million, which is roughly one time of Adventity’s annual sales. When contacted, Adventity CEO Kumar Subramanian told ET, “We don’t comment on market rumours.” On the other hand, Sutherland could not be contacted for comments.
- BPO leader Intelenet hiring 7,000 in India
BPO major Intelenet has announced its intentions to hire as many as 7,000 personnel in India in 2010.”The IT sector is expected to grow at 15-20 per cent and so is the BPO sector. With the US economy back on the recovery path, we expect double-digit growth as against four-seven per cent last fiscal. We are, hence, planning to expand our business and hire more people. We plan to hire 7,000 personnel across the country this year,” Intelenet CEO Susir Kumar said.
- Firstsource fourth quarter profit dips 13%
Mumbai-based business process outsourcing or BPO firm Firstsource Solutions Ltd posted a 13% decline in profit in the three months ended March from a year earlier, while revenue rose 7.3%. Profit dropped to Rs35.6crore from Rs40.8 crore.In the fiscal ended March, profit more than tripled to Rs160 crore from Rs50.6 crore. One-off items such as foreign exchange and foreign currency convertible bond related losses had resulted in a low profit base last year.
Also see news archives