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Gurgaon based Quatrro BPO Solutions has bought out the captive accounting unit of RSM McGladrey, one of the top five global tax and accounting firms with revenues of over USD1.1 billion. Raman Roy promoted Quatrro BPO will merge the acquired entity with its own accounting business and post acquisition the BPO company will have over 2,000 customers globally.
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Satyam BPO, the business process outsourcing arm of Satyam, a leading global business and information technology services company has announced that it has won two prestigious shared services excellence awards from the International Quality and Productivity Council. The company was honored in Orlando, Fla. during shared services week, a conference organized by IQPC. Satyam BPO was a winner in the best business process outsource provider and the first runnerup in the best customer service delivery framework categories.
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Indias third largest software exporter, Wipro, has started offering legal process outsourcing LPO services as part of the knowledge process outsourcing KPO services business headed by former banker and Wipro BPO senior VP Ramit Sethi. The focus of the LPO will be to offer services such as patents and contract management rather than paralegal services and litigation support, where the clientele are mostly law firms.
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The Indian BPO sector is experimenting with assembly line type of job allocation as they are facing huge talent crunch.This means they are breaking up wholesome work into some non specialized parts processes demarcated step by step.
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Triton Corp Ltd, the Noida based tele marketing firm, said it plans to venture into the knowledge process outsourcing KPO business because of lucrative margins, which are becoming a distant dream in the call centre business.The company would be providing outsourcing services in the legal space, which includes legal transcription, prescription, intellectual property, and patents.
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The latest to join the outsourcing wave in the country is design support services, in which architecture and building design is supplied to remote customers as a service.Growing at 30 per cent per annum, this could make India the design centre of the world, say its pioneers, who put highskilled design workers to work with advanced software.The market size for the sector in the US is USD 225 billion, and with India just beginning to make a mark, its growth story appears to be on solid ground, say industry officials.
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Aegis BPO Services, part of the Essar Group, has announced the acquisition of AOLs call centre operations in India for an undisclosed sum. Following this acquisition, which is expected to close at the end of April 2008, Aegis will take over around 1,200 AOL people and enter into the tech support segment. AOLs call centre operations include both voice and nonvoice activity and it will now be serviced by Aegis.
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Indias fourthlargest software exporter Satyam Computer Services is looking at USD 50 million overseas acquisition in the knowledge process outsourcing space to deepen its own BPO offering. Satyam recently integrated its BPO operations with itself for capturing greater synergies and also expand its service offerings. BPO is one of the areas where we have not done any acquisitions so far. We are targeting small boutique BPO and knowledge process outsourcing KPO firms, where the deal size would be about USD 40 to USD 50 million. We are scanning the markets in Europe, the US and the Asia Pacific region for the buyout as part of our inorganic growth strategy,b said a senior company official.
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The financial services technology market faces declining budgets and only offshore providers will benefit, according to new research.Increased uncertainty in the UK economy is driving banks to reign back on IT spend, leading a market analyst to revise its growth forecast for this year.Pierre Audoin Consultants PAC said it is now expecting UK banks core software and IT services expenditure to drop to 4.6 per cent in 2008, from 8.4 per cent in 2007.
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Business process outsourcing firm ExlService Holdings on Tuesday said it has commenced operation at their first service delivery centre outside the country in Manila, Philippines entailing an investment of 8 million dollar. This is the first delivery centre of EXL outside India. We have invested about 8.3 million dollar to set up the facility, a company spokesperson told reporters.
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The Sri Lankan conglomerate John Keells Holdings JKH has acquired a 44 percent stake in the Indian BPO giant, Quatrro Finance and Accounting Solutions, for USD5.72 million, JKH announced on Wednesday. The deal values Quattro, a company founded by Indian BPO pioneer Raman Roy, at USD 13 million. Through the acquisition, JKH hopes to make Sri Lanka a major international resource base for finance and accounting solutions, exploiting the proven skills of Sri Lankans in finance and accounting.
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US based automobile manufacturer Chrysler is planning to expand its operations in India by establishing a BPO facility at RMZ Millenia IT Park in Chennai. This is the companys first setup in the country. Investment made in the facility was not disclosed. The center is expected to offer job opportunities to over 800 professionals.
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The Knowledge Process Outsourcing KPO industry will be worth as much as USD 17bn by the year 2010, according to research from KPMG.Technology is becoming increasingly sophisticated and less and less people are applying for higher academic degrees and qualifications, says KPMG IT advisor Rajeev Lalwani.
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Knowledge process outsourcing KPO firm Copal Partners is planning to enter the legal process outsourcing LPO space through acquisition of existing LPO firms in India. We are in discussions with 10 LPO firms in India whose revenues are in the range USD5 to 75 million. We hope to close one or two acquisitions this year, said Copal Partners president Joel Perlman. LPO includes outsourcing of functions like legal research, litigation support, contract drafting and review and paralegal services.
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US based outsourcing firm Integreon, which has a presence in India, is on the lookout for acquisitions here. Investment banking sources said the company is in talks with domestic knowledge process outsourcing KPO and business process outsourcing BPO firms and at least two small buyouts for a total of USD50 million are likely to be sealed during the current calendar year.
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Capgemi has signed an agreement with Unilever, the global consumer goods company, to acquire and manage the companys financial shared service centres in Santiago, Chile, and Sao Paulo, Brazil. The integration and management of the centres will begin in early May. In addition, Capgemini and Unilever will enter into a sevenyear agreement to deliver a full range of BPO financial shared services to Unilevers businesses in Latin America, including specific transactional tax services for Unilever Brazil.
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Cambridge Integrated Services, a leader in innovative claims and risk management services and subsidiary of Cambridge Solutions, has received a multi BPO contract to handle insurance claims transactions for the Victorian WorkCover Authority of Australia.
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Genpact is using the money from its NYSE listing last year for acquisitions and its CEO Pramod Bhasin knows that in a challenging growth environment the local business is where the money will be made. Bhasin believes it is now time to focus a big part of his BPO business away from US on to the rising demand for services in India.
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Spanco Telesystems and Solutions, one of the leading System Integration and BPO companies in India, has bagged an order of over 1.8 crore card holders, to completely overhaul the operation of the Public Distribution System from the Food, Civil Supplies and Consumer Protection FCS and CP Department, Government of Maharashtra.
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Zensar Technologies has bagged USD 5 million contract in Middle East and South Africa in the first three months of 2008 and is now targeting over 10 per cent of its total revenues from these fast growing segment of the market. The emerging markets have been maturing as outsourcing destinations in addition to the mainstay territories of US and UK.
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The 15year sales and services deal with Capita is the largest of its kind in the UK insurance market.Prudential UK has announced the closure of a USD1.5 billion GBP 745 million business process outsourcing BPO deal involving its life and pensions business.
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