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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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India is no where close to countries like US, Japan and China, when it comes to filing patents. But it still does a significant bit in the IP space. A lot of its happening through patent service outsourcing in India. This means, a lot of back ground work for the numerous patents that are being filed by other countries, are being done out of India. Experts say, patent services outsourcing, the high value work of legal process outsourcing LPO has been a fairly new phenomenon here, hardly four to six years old. According to estimates last year, more than 1.8 million patent applications were filed worldwide.
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InfoSearch BPO Services now offers Custom-made Telemarketing Solutions to complement its BPO & Call Center Services in India, to better serve companies that wish to outsource their telemarketing operations, thereby saving time and money and at the same time not compromising on an important aspect of the business.
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Expanding its footprint in Latin America, the countrys largest software exporter TCS says that it has opened a new deliverycentre in Buenos Aires for providing consulting, BPO and IT services which will employ 250 professionals. "Our growing presence in Latin America continues to be of strategic importance to our overall business growth and we remain committed to working in close collaboration with institutions and universities (here) to help foster the development of local talent in Argentina and provide our customers with IT solutions from this location," TCS CEO S Ramadorai said.
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Mobile services provider Vodafone Hutchison has announced offshoring a total of 450 call centre jobs from Melbourne to India and Tasmania. The decision comes three months after Vodafone Australia Ltd and Hutchison 3G Australia formed a 50:50 joint venture.
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Infosys Technologies says that it has opened a development centre in Brazil to service clients in that South American country as well as Brazilian subsidiaries of global customers. The companys wholly-owned subsidiary, Infosys Tecnologia Do Brasil, is located in Belo Horizonte, the third largest metropolitan area in Brazil after Rio de Janeiro and Sao Paulo, Infosys said in a statement. This is the third development centre of Infosys in Latin America. It has two centres in Mexico.
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Infosys BPO completed the acquisition of US-based insurance and retirement business process solutions provider McCamish Systems LLC. The deal establishes Infosys BPO as a key player in business platform services for the insurance and financial services sector and will enhance companyb s capability to deliver end-to-end business solutions, according to a press release.
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Patni, a leading global IT and BPO services provider, today announced expansion of its Actuarial Center of Excellence, ACE to provide consulting, risk management and actuarial services for Insurance and Financial services companies in an onshore and offshore delivery model.ACE TM provides proven Actuarial expertise and rich pool of seasoned actuarial consultants in US, India and Europe to provide customers optimized and cost effective solution for improved financial performance. Patni runs one of the largest offshore actuarial operations in India and serves several global insurance companies.
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US-based BPO and KPO firm Motif has opened a delivery centre in Costa Rica where it will offer bilingual service in English and Spanish.The company aims to tap Latino client base in the US and other geography. The company will invest USD2.5 million in the centre and will begin operations in January next year.
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US-based Sutherland Global Services, a BPO company that has been primarily focusing on the voice BPO segment, has diversified into non-voice operations."Non-voice in an important focus now along with voice to get aggressive profit margins in the range of 30 to 40 per cent," said a senior company official.
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Mphasis, an Indian outsourcing firm, is opening a centre in Colombo which will offer legal, finance and accounting services starting with 600 people in the first stage, as a downturn is ending, officials said.
We have a fairly well established global footprint and with the Colombo office we are expanding it further," Gopinathan Padmanathan, president applications at Mphasis said."After completing the due diligence Mphasis were really confident."
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Indian business process outsourcer Genpact says 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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Control of IsmartTimex, a Sri Lanka based outsourcing firm has been acquired by Indias Aegis Limited, a unit of the Essar group, but a minority 20 percent stake will be held by local partners, the company said.Sri Lankas Timex Garments had sold an 80 percent stake to Aegis parent Essar Services Holdings Limited.
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T-Mobile UK has signed a five-year outsourcing contract with Indias 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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Making a strong pitch for Lucknow as a premium IT-BPO hub in Uttar Pradesh, IT major Tata Consultancy Services TCS has called on the state government to stimulate the IT industry in the state. Jayant Krishna, principal consultant TCS, said among the b challenger' locations listed in the Nasscom-AT Kearney Study, Lucknow has a huge opportunity to emerge as an IT-BPO hotspot.
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Perot Systems is adding a new facility for business process outsourcing in Chennai in south India, citing strong business from the healthcare segment.BPO business from the healthcare segment has been relatively unaffected by the economic downturn, Manish Jain, head of corporate communications at Perot India, said. The facility is located in a special economic zone and by the rules governing these zones, it will have to work on new contracts from customers, Jain added.
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