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Irrespective of whether it is a captive or a third party, the vast majority of outsourced research work supports investment decisions taken offshore. Fewer than 5 percent of the people based in India are directly or even indirectly making valuation calls on securities. Instead, what they are doing is reading the regulatory filings every page, including footnotes, looking for the SPVs, negative pledges, cross default provisions and the other clues that you may have a company with shaky financials if not quite the next Enron, taking historical data and putting it into the onshore analysts format, Excel model, and performing Internetbased research on the industry, competition, regulatory trends, etc.
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Capita Group, UKs leading business process outsourcing BPO firm, has bagged a GBP 722 million USD 1.5 billion, outsourcing agreement with life insurance and pensions provider Prudential UK. The BPO firm will also acquire business and assets from Prudential, for a consideration of GBP 25 million USD 51 million, including part of the business of PPMS, Prudentials offshore centre in Mumbai.
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Indian backoffice firms such as Firstsource Solutions Ltd, HTMT Global Solutions Ltd and Mphasis Ltd are looking at the domestic market to expand and use this as a hedge against a further appreciation of the rupee and depreciation of the dollar and the growing credit crisis in the US.The BPO arms of Infosys Technologies Ltd and Wipro Ltd, Indias second and third largest software exporters, are also looking for domestic business opportunities. The main reason why we got into domestic market is because it acts as a hedge to our global business, says Alok Mishra, chief financial officer of Mphasis, a Bangalorebased IT services and BPO company, owned by Electronic Data Systems.
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TeleTech Holdings, Inc., one of the largest and most geographically diverse global providers of business process outsourcing BPO solutions, today announced its expansion into South Africa, further broadening its global sourcing platform to encompass six continents. TeleTech began construction on its first facility in Africa today. Ground was broken at the Old Match Factory in Salt River, Cape Town, at a ceremony attended by major officials from the South Africa government. The Cape Town facility is scheduled to commence operations later this year.
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As an increased number of Indian Companies are trying to focus on their core business by outsourcing specialised functions to third parties with domain experience, Spanco, IBM Daksh, Mphasis, HTMT, Intelnet, EXL Service, RMS and Firstsource as well as some banks through their subsidiaries are eyeing a pie of the domestic market.
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The domestic KPO industry needs to tighten its service level agreements to provide quality services and also needs to attract more revenue by entering into partnerships with big financial service organisations .Nearly 30 percent shortfall is likely in the Knowledge Process Outsourcing KPO business by 2012, which according to the Associated Chambers of Commerce and Industry of India ASSOCHAM would stagnate at USD 10.5bn against the projections of USD15bn mainly on account of lack of talented professionals in the absence of relevant institutions for imparting KPO skills in India.
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Coming hot on the heels of winning the USD250 million Philips deal in July 2007, Infosys BPO Limited has been conferred the Provider of the Year award by FAO Today Magazine at the One Conference hosted jointly by FAO Today and the Hackett Group. This award further enhances Infosys capabilities and positions it as one of the global leaders in the finance and administrative outsourcing industry, the company said.
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Reliance Communications Ltd, or RCom, is planning for a big expansion of its business process outsourcing BPO operations over the next two years, aiming to go to 30,000 employees in such operations, up from about 7,800 employees now, according to people familiar with the plans. RCom has picked Rajnish Virmani, former chief executive of Aviva Global Services, the offshoring arm of UKs largest insurance group, Aviva Plc., to head the expanding BPO operations.
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Business process outsourcing BPO and IT solutions company Affiliated Computer Services News Alert ACS announced Monday that its emergency medical services EMS billing contract with the City of Houston, Texas was extended for another seven years, representing a USD 35 million addendum.
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Indian BPO companies are slowly but surely moving towards rural areas in setting up shops. The key attributes to these are the rising attrition and real estate rates. With companies such as Satyam Computer heading toward rural areas in a bid to maintain their productivity. Satyam, Lason and Datamation have already set up their business process outsourcing centres in remote places such as Ethakota and Jalli Kakinada in Andhra Pradesh.
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In a bid to garner support for its efforts to create an IT,BPO Park exclusively for small and medium IT enterprises in Hyderabad, in Andhra Pradesh, India, the Small and Medium Enterprises Consortium SMEC held a business meet at the Royal Albert Palace in New Jersey.The meet attended by more than 150 IT entrepreneurs from New Jersey and across the nation, was primarily aimed at forming a united front to lobby with lawmakers in both countries, and safeguard the interests of the small and medium IT businesses through the Consortium.
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Aegis, the BPO arm of the Essar group, has acquired Tele Tech Services India, a joint venture of Tele Tech Europe and Bharti Ventures Ltd, for US Dollar 13 million.A share purchase agreement has been signed and the deal is expected to be closed in 30 days.Gurgaonbased Tele Tech Services, which has a turnover of US Dollar 15 million, has 2,200 employees who will be absorbed by Aegis.
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The growth story of Indian IT and ITeS sectors may continue unabated, but it is the big names that are dominating the market with double the growth rate recorded by the rest. The six IT majors TCS, Infosys, Wipro, Satyam, HCL Technologies and Congizant along with two BPO giants Genpact and WNS are recording a yearly growth rate of over 40 per cent, according to technology consultancy firm Everest Group. Apart from these big names, all the other smaller players are struggling at a growth rate of around 20 per cent a year, Everest Group CEO Peter BendorSamuel said.
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Is the party over for captive BPOs in India . Possibly, for a little bit of number crunching shows that many big players with captive BPOs in India are now logging out of the country. And many others are preferring to shift to third party vendors. For example, WNS which started as a captive of British Airways was later spun off as a third party service provider. Similarly, in 2001, HCL Technologies bought out a majority stake in Deutsche Banks BPO arm.
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In what could probably be the first of its kind venture, two Indian firms on Wednesday signed an initial pact with a Chinese industry body to train Chinese students in skills required in the booming outsourcing sector. China based Xi an Service Outsourcing Development Association signed an MoU with Starting Point Competence Training and Snam Abrasive to enhance the level of certification and training required for the BPO industry. The MoU, signed at the Xi an Bangalore Service Outsourcing conference, stresses on joint efforts to encourage, stimulate and formulate competency developmental activities that would promote the BPO industry in Xian. The city in western China is referred to as the capital of that countrys BPO industry.
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Asian countries have been very successful over the past few years at growing their outsourcing industries. However, India, for example, is now experiencing a labor shortage, which is leading to high attrition, high cost and lower-quality service as Indian companies move to rural areas to find resources. Naturally, this is starting to slow down their growth. People are now considering other locations. The only untapped region left with a large supply of underemployed labor is Africa.
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The Chesapeake Group Inc., a New Yorkheadquartered boutique investment bank focusing on midmarket companies in the IT,BPO verticals, today announced that it has established a direct presence in India. Pioneering crossborder advisory firm establishes local presence to facilitate midmarket Indian companies in their global M andA pursuit Former Infosys executive Siddhartha Padam to head Indian operations.The Indian operations of Chesapeake will enhance its ability to deliver corporate development and strategic initiatives to domestic clients as well as allowing these Indian companies to tap into the firms unsurpassed track record in crossborder M and A.
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The big daddy of Indian IT, Infosys Technologies, is entering the niche legal process outsourcing LPO business, so far dominated by companies started by lawyers or law firms. The move , first by a player of Infosys size and reputation, has created a stir among LPO players and employees. While the other top IT firms are active in business process outsourcing BPO, none of them have entered the LPO segment, which on the face it, doesnt have any direct synergies with IT.
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Corbus India, RMSI and Hytech Professionals may be lesser known companies IT space compared to peer group but they rank as the top three firms in Nasscoms Exciting Emerging Companies to Work for list. Releasing findings of a survey to identify Top 15 Exciting Emerging Companies to Work for in IT-BPO sector in India. This is a first such survey by NASSCOM, and also the first of its kind across any industry by far, for the emerging companies segment specifically.
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24 7 Customer, a global provider of business process outsourcing services has won the CCF Award for Best Non European Call Centre 2007. The award instituted by CCF European Call Centre Awards recognizes professional excellence in the contact centre industry across Europe, Middle East and Africa. The CCF European Call Centre Awards instituted for over a decade is also closely associated with the leading UK contact centre magazine , CCF Call Centre Focus.
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