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Satyam Computer Services Ltd, a leading global consulting and information technology services provider, announced today that Satyam BPO, its business process outsourcing BPO arm, has been ranked second among the worlds leading BPO vendors in BrownWilson Groups Black Book of Outsourcing. Satyam BPO also ranked fourth on the Knowledge Process Outsourcing Vendors list. More than 4,000 organizations were evaluated in compiling the lists.
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Financial services major Citigroup Inc will sell its business process outsourcing arm in India, Citigroup Global Services Ltd, and its technology and infrastructure outsourcing arm Citos amidst reports that the global bank could write down over USD9 billion in the second quarter of the current year.
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Satyam Computer Services on Thursday announced that it formed an alliance with Sciformix Corporation, a Westborough, Mass. based, life science knowledge process outsourcing KPO firm, to deliver endtoend and data management services in Pharma covigilance.
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Addressing a press conference, Edge Zarella, Global Partnerincharge, IT Advisory, KPMG, said that India is at an extremely advantageous position to garner this business, which is often mis understood. It is not a numbers game but a mindgame, where consultants would play a very strategic role. A couple of years ago, talk of KPO seemed farfetched, especially as businesses were still struggling to come to terms with what the earlier forms of outsourcing could do for them.
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Spanco Telesystems BPO subsidiary, Spanco BPO Venture Ltd. and USbased MRS Associates Inc. have entered into an agreement which aims to generate revenues of USD100 million in two years.As per the partnership, Spanco Respondez, the international BPO arm of Spancos BPO business vertical will offer back office and contact centre services in Mumbai and Gurgaon.
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Sciformix Corporation, a leading provider of knowledge process outsourcing KPO services for the life sciences industry, today announced it has completed a 3.3 million Series A round of financing led by Flybridge Capital Partners. With operations in the United States and India, the company will utilize the funds to expand its sales and marketing and further build global operations as it provides high quality services to life sciences focused companies.
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Visionet, a Cranbury, N.J.based business process outsourcing BPO provider to mortgage banks, says it is experiencing rapid growth in its BPO operations and has moved to a newer and larger premise in Bangalore, India.Most of this growth is in the higher end, knowledge based services such as high cost lending auditing, tax searches, title policy production, lien release, loan boarding and repurchase management.
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UST Global UST, a leading provider of IT services and BPO solutions for Global 2000 enterprises, announced today that it signed two agreements to provide quality control services to the FHA lending division of one of the top mortgage lenders in the nation. The client is a leading national lender and thrift that provides financing secured by single family homes and other banking products to facilitate consumers personal financial goals. UST has been engaged to conduct quality control reviews of post closing loan origination as well as to manage the quality control analysis and reporting for the servicing processes of FHA VA loans.
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DST Health Solutions today announced that Colorado Access has extended its agreement for business process outsourcing BPO services, including claims payment and frontend processing. This comprehensive BPO agreement provides Colorado Access with efficient administration of all lines of business, including their Medicare Advantage products.
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Aditya Birla groups BPO division Aditya Birla Minacs Worldwide Ltd ABMWL plans to acquire captive arms of financial services firms engaged in niche segments such as asset management, credit risk analysis and others.Dev Bhattacharya, managing director, ABMWL says, The company plans to invest around USD 150 million for the initiative.
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End to end knowledge and business process outsourcing company, Adventity, has partnered with Fostera,a rural BPO organisation promoted by District Administration of Tamil Nadu,to set up a rural BPO in Krishnagiri. Fostera will provide the infrastructure for the new facility and Adventity will provide end to end training of resources for the pilot batch of hires, Adventity said in a statement.
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Insurers in Europe and the United States are increasingly considering policy administration business process outsourcing BPO, says a new report by London based independent market analyst . Facing challenging market conditions, both life and non life insurers are seeking to reduce costs and gain flexibility. Often times, however, these goals are stymied by rigid policy administration platforms, which are frequently built in house, Datamonitors report states.
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BristolMyers Squibb BMS has recruited IBM in its latest round of outsourcing, granting the IT giant a USD324m business process outsourcing BPO contract. Under the 10year agreement, IBM will be charged with providing the drug behemoth with human resource HR functions across the globe, with a primary focus on BMS operations in the US, UK, Ireland, France, Germany, Italy, Spain, Belgium and Puerto Rico. In addition, IBM will offer limited support to 40 other BMS locations in the Asia Pacific, Europe and the Americas.
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BPO Management Services, Inc., BPOMS a leading full service business process outsourcing company focused on serving middle market enterprises, today announced that Deutsche Rentenversicherung Bund DRVBund and Deutsche Post Real Estate Germany have purchased its Enterprise Content Management ECM solution eReview. DRVBund has also signed a maintenance contract.
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Releasing the report Knowledge Process Outsourcing KPO, Unlocking topline growth by outsourcing the core, during an outsourcing industry event organized by Nasscom in Mumbai, Edgidio Zarrella, global partnerincharge, IT advisory, KPMG, said that KPO, which is seen as the third generation of the outsourcing process, is fast becoming a mainstream outsourcing option and has come of age.
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Joint ventures with other countries to develop projects in the Dubai Outsource Zone DOZ are on the pipeline, Ismail Al Naqi, Executive Director of DOZ, said. DOZ is seeking at least five per cent of the global outsourcing market by 2010, when its fourth and last phase is expected to be completed. Outsourcing helps many companies keep down costs by handing over some tasks to outside firms. Gartner, a market research firm, estimates the size of the global business process outsourcing market by 2007 at USD 173 billion Dh 635 billion, of which USD 24.23 billion Dh 88.9 billion would be outsourced to offshore contractors.
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Spanco BPO, the hivedoff business process outsourcing BPO operations unit of Spanco Telesystems, is on the lookout for an acquisition to break into the knowledge process outsourcing KPO domain.The deal, in the highmargin financial research and collections area, could be valued around Rs 100 crore.
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Barclays is increasingly confident in its use of business process outsourcing BPO which it says has improved time to market and is now looking to increase the complexity of the services it offshores.Charles Stiller, global servicing new initiatives director at the bank, said its confidence has grown since its first serious foray in 2004 and that it now relies on about eight operational sites in India.
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Sutherland Global Services, a leading multi national Business Process Outsourcing BPO provider, announced the opening of its newest service delivery center located in Camarines Sur, Philippines. The facility was unveiled by Her Excellency Gloria Macapagal-Arroyo, President of Philippines along with Dilip Vellodi, Chairman and CEO and senior company executives in a grand inauguration ceremony.
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Capita has announced that it is relocating more than 300 of its jobs to India. Capita said that it had already circulated a formal notice among its staff, intimating that their jobs were at risk of redundancy. The company, however, expressed confidence that many of the workers would be redeployed, and that their staff could apply for new jobs in the company. However, that would mean a transfer to Glosgow from England.
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