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India has taken a lead in the knowledge process outsourcing space, better known as KPO. However, the services have been around for more than sometime, for example in Australia, but were not tagged with the popular acronym.According to Pradeep Ulhas, global head, sourcing advisory at KPMG India, told the Nasscom India Leadership Forum 2008, the industry started to leverage cost advantages, but that is no more the case. Now, its all about intellectual arbitrage, with factors such as skill availability, locations, and decisions such as captive or third party centres at the forefront of the industry.
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Infosys Technologies Ltd has opened its first Latin American subsidiary in Monterrey in Mexico. The subsidiary will offer a full range of business consulting and IT services for clients in all industries, including banking, financial services, distribution and retail in the region. The centre will provide key offerings in business process outsourcing BPO, infrastructure management and packaged solutions implementation, an Infosys release here said Thursday.
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Global consultancy services provider KPMG and Nasscom today indicated that the Financial Services industry KPO knowledge process outsourcing is poised to be worth USD5 billion in India by 2010. In a report brought out jointly and released by the Union IT and C Minister, A. Raja, KPMG researchers indicated that while there are various projections of KPO industry that range between USD10 billion and USD17 billion by 2010, India is well poised to garner about USD5 billion worth of financial services business.
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The UKs secondlargest BPO firm, Vertex, is moving some of its key support and administrative functions to its offshore centre in Gurgaon. The 1,800people strong offshore facility services about a fifth of its customer contracts, and will now also handle Vertexs own functions in finance and accounting, analytics, human resources, IT and workforce management.
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Software major Infosys Technologies Ltd has launched its first Latin American Subsidiary in Mexico.The company which was launched yesterday, informed the BSE that the subsidiary aims to enhance services to the existing clients in the US, Latin America and Europe. The Subsidiary, Infosys Technologies S. De R.I.De CV, would provide full range of business consulting and information technology services for all verticals including banking, financial services, distribution, retail, and more. The centre provides key offerings in business process outsourcing BPO, infrastructure management and packaged solutions implementation.
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Indias technology companies are looking to Europe and higherend knowledge businesses to retain the countrys position as the worlds backoffice hub in face of a sluggish US economy, spiralling costs and competition.
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The Indian insurance industry is going through rapid growth and change. Growth in life and general insurance markets has been very rapid and this is attracting the top global insurance companies. Intense competition, rapid market expansion and entry of global leaders in insurance, is yielding significant opportunities for outsourcing in insurance. Further, introduction of detariffing is leading to full competition in all product lines and insurers are seeking to compete through competitive pricing, control of operating costs and by providing customer satisfaction and service quality on a pan India basis.
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BPO firm Genpact is looking at acquiring companies in the financial and human resources sectors in India, US and Europe in three months.Pramod Bhasin, managing director and CEO, Genpact, said the company plans to spend about USD 200 million on these acquisitions. Bhasin, however, didnt confirm any timeline or target firms. Genpact follows the policy of near shoring capabilities to take advantage of time zones. As part of this it operates through its 30 operations centre spread across nine countries. It serves its North American customer organisations through its call centres in India, Mexico and the US.
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Although there has been some speculation about a possible slowing in demand for offshoring, fueled by news of rising salaries and shrinking labor pools in popular offshore destinations such as India, that doesnb t appear to be the case for BPO.Indias National Association of Software and Services Companies Nasscom and Everest Group are predicting a boom in BPO, reports InfoWorld. While Indiab s BPO industry should grow from USD11 billion to USD30 billion by 2012, it has the potential to reach USD50 billion. With that kind of revenue, BPO would account for 2.5 percent of Indias gross domestic product.
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Newly-enlarged IT-driven business services provider, Group Steria SCA, today announced its intention to both expand and rebrand its Indian operations following the recent acquisition of Xansa. Speaking at the NASSCOM Indian Leadership Forum Group Chairman and Chief Executive, Francois Enaud, exclusively confirmed that, under the stewardship of new Indian Chairman and CEO, Mukesh Aghi, Steria plans to significantly grow its Indian operations. It also plans to fully migrate from Xansa to the new Steria brand in the coming months.
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Indias knowledge process outsourcing KPO industry dealing with financial services is set to become USD 5 billion by 2010, global consultancy firm KPMG said in a report.The KPO industry is booming in India. The industry is expected to grow to USD 10 billion to USD 17 billion by the year 2010, KPMG said.
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Indian business process outsourcing Allsec Technologies has announced the opening of a new facility in Manila as part of its global expansion.Allsec Technologies has bought Philippines-based Kingdom Builders Inc., which has been operating a two-year-old, 150-seat facility in Ortigas, Pasig City.Investing between $4 million and $5 million, Allsec Technologies expects to become fully operational in two weeks. It is currently recruiting more agents to fill up 750 seats in the next six months, said Adi Saravanan, founder and president of Allsec Technologies.
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With a booming domestic IT market, India represents a viable market as well for local business process outsourcing BPO companies of the Philippines, according to the head of local industry group BPAP.A recent Gartner report forecast Indias IT services to reach nearly US USD11 billion, driven by the adoption of new technologies being outsourced by large companies.
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