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Third party BPO services provider 24 7 Customer plans to expand its operations and tap new markets in the wake of rupee appreciating against the US dollar in the last seven months. The company, which stands 14th in the Nasscoms Third Party ITES BPO Rankings 2006 07, derives 50 per cent of its revenue from the US. While UK contributes about 30 per cent of the revenue, Canada and Australia account for the remaining.
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The unrelenting march of the rupee against Uncle Sams currency is giving sleepless nights to tech and BPO captains. In the last two quarters, this has eaten into their profit margins. They are apprehensive that the rupee appreciation would have a multifold ramification for IT ITES industry, especially once the tax holiday is over in 2009. Therefore, its critical for enterprises to maintain and grow their margins through innovative measures, intelligent hedging mechanisms and smart deployment of manpower.
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After many a false alarm and multiple rounds of negotiations, the sale of Citigroups captive BPO operations has finally been concluded with Genpact winning the final bid in a closely run race with Firstsource Solutions. The transaction is the first such sale of a large captive BPO and sets the precedent for other captive managements that were closely following the process. In terms of transaction value, it is the largest deal in the business process outsourcing segment.
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Call it reverse outsourcing or localising globally, varied accents and foreign faces are fast becoming the norm at Indian BPOs abroad.With wages on a rise companies like Wipro are saying it is absolutely essential to have centres outside India.Wipro has just established a centre in Atlanta with 500 people and says that going ahead 30 per cent of its entire workforce will be global. It plans to open 5 to 6 centres in places like the Philippines, Mexico, Shanghai and Berlin in the next two years.
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Although security measures are already incorporated in some BPO companies, it is high time the checks are stringently implemented. With the increase in Information Technology Enabled Services, it has become a cakewalk for hackers to intrude in business matters. It is not just the aid of IT services, but mainly the psyche of the people working in these BPO companies. Every BPO should have their security policy and the employees should be asked to strictly follow them.
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Finacle, which provides banking solutions to over 100 customers in 55 countries, is integrating itself under the Infosys its parent banner by leveraging the IT bellwethers consulting and business process outsourcing BPO services. Essentially, this is one of the fundamental shifts in our business strategy considering the overall significant growth in the market. Its time we switch gears from being an independent software vendor to an endtototoend transformation player. We will play a key role in providing consulting services, Haragopal Mangipudi, vice president and global head, Finacle, said.
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In the largest information technology IT outsourcing deal by an Indian company, Tata Consultancy Services TCS on Thursday said it has won a US Dollar 1.2 billion IT and operations support deal from The Nielsen Company to be serviced over 10 years. Although the deal eclipses the US Dollar1 billion Tech Mahindra-BT deal announced last fiscal in absolute numbers, the latter is spread over five years against TCS 10, giving Tech Mahindra higher revenues per annum.
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NelsonHall, the leading independent BPO analyst firm, today announced the results of its BPO Index market monitor for 3rd quarter of 2007. NelsonHalls BPO Index for Q3 2007 shows that the BPO market is prospering with yearonyear TCV total contract value growth of 26 percent, and 57 percent growth during the first nine months of 2007.Much of this growth is coming from a resurgence of interest in BPO in North America. Levels of BPO contract activity have been particularly strong in the North American government and financial services sectors over the past twelve months, but in addition there has also been steady growth in BPO TCV across a wide range of other sectors in North America including manufacturing, retail, energy and utilities, and transportation.
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NYSE to listed WNS Holdings has achieved a market capitalisation of US Dollar1 billion, becoming the second Indian BPO listed on the US bourses after Genpact market cap of US Dollar3.29 billion to achieve the feat. The BPO, whose stock was reeling under the impact of having lost a major client in the wake of the US sub to prime crisis, saw shares soar 1.14 percent on Monday to touch the billion to dollar figure, within two weeks of revising its guidance upwards. dance upwards. EXL is the third Indian BPO listed on the US bourses Nasdaq.
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Outsourcing will remain strong in 2008, with HR outsourcing contracts worth US Dollar1.1 billion and finance and accounting outsourcing FAO contracts worth US Dollar 600 million coming up for renewal, according to offshoring advisory firm Everest Research Institute. In its study 2008 Market Predictions, the firm said that demand for FAO services will continue to be strong in the next 12 to 18 months, as large buyers in the exploratory phase begin to initiate actual engagements. On the supplier side, battle for market share will intensify. While companies like Accenture, Genpact and IBM hold over 65 percent share, companies like Xansa, WNS, HP, Infosys and Wipro are fast emerging as notable contenders, the Everest study said.
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The Commission on Information and Communications Technology CICT has identified 15 key cities assessed as ideal locations for investors in the BPO sector.Monchito Ibrahim, consultant for CICTs cyberservices group, said the 15 cities are among 35 being assessed under the Cyberservices Corridor initiative. The CICT looks at factors like availability of human resources, peace and order, power and telecom infrastructure.
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Credit Suisse, the global bank, whose back office outsourcing BPO is located at Wipros campus in the special economic zone at the Hinjewadi Info Tech Park, has now included a knowledge process outsourcing KPO centre.We are setting up our first KPO at the centre of excellence here. We have four such centres but this is the first where we are setting up a KPO, Credit Suisse global head of Centres of Excellence Nick Bloom, said. He added that they will expand the KPO, perhaps at the CoE in Wroclaw in Poland, which is CSs own facility.
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The legal profession in India has expanded to new dimensions and is no more confined to conventional bar practice. It is clear that the offshore outsourcing of legal services to India, commonly although perhaps misleadingly, referred to as legal process outsourcing LPO, is a fast to growing industry. The Trade Policy Review of India tabled at WTO in April this year terms this phenomenon as offshore outsourcing of legal services and estimates the market potential for offshore legal services from the US alone at US Dollar 3 to 4 billion. Legal professionals are enthusiastic, optimistic, yet curious about the nature and scope of offshore legal work provided from India.
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IT services majors Accenture and Wipro have evinced interest in acquiring Dells captive BPO business outside of the US. The worlds secondlargest PC maker has put its contact centres across India, Philippines, El Salvador and Canada on the block with a valuation estimated to be around US Dollar 4 billion, multiple sources familiar with the situation said. While both Wipro and Accenture declined comment, Dell denied it was putting its nonUS BPO services on the block.
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Animation and gaming are seen as the next wave in Indias successful outsourcing story. However, there is a major change, this is a sector which has moved up from outsourcing to co production, a move up the value chain from low end, less creative work to higher creativity and advanced technologies, says Krayon Pictures director Namrata Sharma. She said that for India to catch the animation bus, it needed to quickly provide the required manpower since Nasscom had projected that both animation and gaming were multi billion dollar opportunities for India. The usual block, however, is the lack of trained manpower.
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On the western edge of New Delhi, amid the glittering office developments of the suburb of Gurgaon, the newest part of Clifford Chances global empire is open for business. Unlike the firms other offices, however, this outpost is not practicing law, still a prohibited activity in India for overseas law firms. Instead, the Clifford Chance office houses a group of Indian IT and accounting specialists, part of the Magic Circle firms back,office function. By moving these operations out of higher,cost offices in Europe and the United States, chief executive David Childs predicts, the firm will save US Dollar 60 million during the next three years.
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Global insurance firm Avivas captive BPO unit in India, including the operations currently under two vendors, is likely to go only to one of its suppliers, WNS Global Services or EXL Services , as other big players are shying away from bidding for it. The consolidated unit will employ as many as 6,500 people and rank among the top 10 BPO units in the country.Avivas business process outsoucing contracts are now split among the three major suppliers and are designed under the buildoperatetransfer model.
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Leaving no doubt that India is still the global leader as far IT and outsourcing are concerned, a study jointly carried out Cyber Medias Global Services magazine and investment advisory firm, Tholons has drawn up a list of b Top 50 emerging outsourcing cities.As per the list five out of top 10 destinations are situated in India. It puts Chennai at the helm of the list.
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After the IT services companies, its now the turn of knowledge process outsourcing KPO firms in India to wade into China. The booming economy of China has evinced the interest of the KPO firms based in India, that look at it as a unchartered territory but possessing innumerable opportunities. Unlike the IT services companies, the KPO firms are looking at delivering their services out of India with certain frontend presence in China.
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