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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 countrys third largest BPO firm Firstsource Solutions has received about GBP 6.7 million about Rs 54 crore of support to scale up presence in Northern Ireland, from an arm of the Government there. The ICICI Bank promoted firm will create 800 new jobs in Northern Ireland by establishing a new centre of excellence and expanding its existing operations in Londonderry, according to the Invest Northern Ireland NI Web site.
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Infosys BPO Ltd., the business process outsourcing subsidiary of Infosys Technologies, today announced its alliance with MortgageFlex Systems, Inc. The alliance focuses on the support of U.S. loan servicing and loan modification initiatives as defined under the Home Affordable Modification Program (HAMP) or alternative loan modification programs, said a press release.MortgageFlex Systems is an origination and servicing technology solutions supplier for the U.S. mortgage industry.
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Warburg Pincus has approached its global private equity peers for selling its 50.12% stake in BPO firm WNS Global Services, an indication that the world-wide recession could lead to consolidation among providers of back-office services. NYSE-listed WNS, Indiab s second largest BPO firm, may fetch a valuation of around $800 million providing Warburg with an exit payout of $400 million, according to investment banking sources. In 2002, Warburg had paid $40 million when it acquired a 64% stake in WNS from British Airways.
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Vertex Customer Services, the Gurgaon-based Indian arm of the UK-headquartered business process outsourcing company, that grew to about 3,000 staff back in 2003 and then almost imploded with key client exits and got reduced to a 400 people operation, is now getting back in business. A new CEO and a new strategy hopes to see the BPO company back on track.
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The business process outsourcing (BPO) centres are not the forte of urban India alone. Dawing the point home, the state government on Friday. Set up India's first rural BPO centre at Baburayana Koppal off Mysore-Bangalore expressway near Srirangapatna. Through the BPO sector, the government aims to create 1 lakh jobs in next five years in rural Karnataka and arrest the migration to urban areas.
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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.Sciformix utilizes a global, cost optimized business model to provide high quality KPO services in the areas of drug safety management including, pharmacovigilance, biostatistics, clinical data management, and medical writing and regulatory document management. The company is led by a seasoned and successful executive team, which includes CEO, Dinesh Thakur and Chairman of the Board, Ajit Nagral who was the former founder of NuGenesis Technologies.
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Tech Mahindra, leading worldwide systems integrator & technology solutions provider to the telecom industry, has announced that it has established its fully owned facility in Chandigarh.According to company, the facility will focus on offering end to end customer service delivery to global telecom service providers.
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The global sub prime crisis will force financial institution to offshore more work to cut cost. Business Process Outsourcing BPO from the financial services sector will increase 40 to 45 times the current market size over the next five years, with key drivers of growth coming from cost pressures and the timely advent of more vertical specific offerings by offshore suppliers, predicts the Everest Research Institute.
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Current global recession, business mergers and acquisition, and bankruptcy filings have accelerated the growth of LPO (Legal Process Outsourcing) in India. There has been a sizeable uptrend in the LPO industry since the downfall of the US economy. In particular, the vendors providing support functions such as Documentation Review and Legal Research have grown immensely. Currently Indian Legal services industry is growing at a rate of about 40% per annum.
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American Express (AmEx) is looking to sell a slice of its back-office operation in India, at least three people with knowledge of the plan said, putting it on track to join a long list of overseas firms which have shed their captive business process outsourcing (BPO) units in the country. A portion of the back-office operation providing travel-related services for its international clients is being hived off and talks have started to sell this piece of the business, one person told ET, but declined to divulge details. Another person privy to the plan said the move is a precursor to the eventual sale of the entire BPO unit.
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Indian business process outsourcer Genpact said Monday that it has acquired a back office services delivery center in Guatemala City from GE Money, a division of General Electric GE.Genpact, which already has a delivery center in Mexico, said that the newly acquired facility in Guatemala will extend Genpacts presence in the region, and increase its ability to provide business process services in English as well as in Spanish. Genpact will provide services to GE Money from the facility, it added.
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T-Mobile UK has signed a five-year outsourcing contract with India's Infosys BPO, the BPO arm of Infosys Technologies. The contract covers several core processes for their finance directorate which cover customer finance, commercial finance and accounting (F&A), and procurement operations, Infosys BPO said in a statement.
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Aditya Birla Minacs, the BPO arm of Aditya Birla Nuvo (ABNL), will scale up its domestic operations, the company said in a filing to the stock exchanges.The company also said it is looking at building telecom expertise and it aims to tap customers of its telecom arm, Idea Cellular. ABNL has already launched a site for Idea Cellular and is targeting to add two more sites in financial year 2010 to serve the telecom sector, the stock exchange filing said. ABNL also said that it would focus on non-voice or knowledge process outsourcing (KPO) services.
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Indian outsourcing company Aegis has bought the Call Centre Nucleus (CCN) Group and says it will invest R500 million in local operations over the next three years.The business process outsourcing (BPO) division of the Essar Group has acquired 100% of the local call centre company and says the acquisition made strategic sense. It intends to use CCN as a platform to grow further and build a call centre base for itself locally.
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