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Despite facing the challenges of rupee appreciation, talent crunch and emergence of newer media, Indian epublishing industry is estimated to grow annually by 35 percent and offer a USD1.46 billion outsourcing opportunity by 2010. During the worlds first conference on publishing BPO services organized by the Confederation of Indian Industry CII hosted at Chennai, Integra Software Services founderMDCEO Sriram Subramanya noted, With several global publishers offshoring their publishing BPO services to India, there is an accelerated trend of acquisitions, which is likely to intensify as more players look to acquire new capabilities, clients, market presence, offshore capacity and onshore capability.
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Large format Indian retailers and domestic telecom service providers are increasing their spend on market research and analytical work. It was disclosed by Palanivel Kuppusamy, Executive Chairman, Dexterity Group, a Chennai based KPO firm in the Market Research space, who has recently done some pilot projects for the state owned telecom major BSNL on defaulting customers and impact of large retail stores on nearby mom and pop shop owners and other business establishments.
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Bad times for some American companies is turning into good times for Indian legal offshoring industry.
For reasons largely economic and partly cultural, Indias legal process outsourcing, or LPO, services providers have seen a sizeable uptick in business since the US economy has faltered. In particular, firms that handle support functions, such as reviewing documents and researching witnesses for US litigation, have enjoyed the biggest increases amid mounting disputes over who knew what and when in the mortgage and related markets meltdown.
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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 2010 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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India faces some competition to hold onto its status as the world centre for legal process outsourcing LPO, with South Africa quickly emerging as an alternative LPO hub.Lovells is one of a handful of law firms piloting the offshoring of a portion of lowend legal work.
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Business Process Outsourcing is not entirely new to Vietnamese firms but most have not grasped the potential of an industry predicted to be red hot in 2010. BPO services were first seen here in 2005 when multinationals outsourced simple work to Vietnamese firms and did more complex work for others.
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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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Kale Consultants Ltd, a leading solutions provider to Airline, Logistics and Travel ALT industry, announced that it has entered into a multiyear outsourcing contract with Wataniya Airways, Kuwaits new full service luxury airline. As part of the deal, Kale will deliver complete outsourced revenue accounting and passenger audit services from its delivery centre. Kale will put into service its industry leading passenger revenue accounting solution REVERA, as the backbone of this platformbased BPO deal. Kale will provide services to the airlines from its Managed Processing Services centres in India.
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The Ruias of Essar are exploring an outright 100 percent buyout of troubled Satyams whollyowned outsourcing arm, Satyam BPO formerly, NipunaServices Ltd. Essar controlled Aegis BPO is slated to shortly put in a formal expression of interest EoI to Satyam Computers sixmember expanded board.
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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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Tata Consultancy Services TCS is in talks to win two large BPO contracts as a consequence of its acquisition of Citigroups BPO captive, Citigroup Global Services CGSL, a company official said . Indias number one IT exporter also announced the completion of the CGSL transaction. The transaction is estimated at USD 512 million and includes a revenue commitment of USD 2.5 billion from Citigroup.
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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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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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The economic slowdown has impacted the outsourcing business and eroded margins, with contracts shrinking by the day. But business process outsourcing BPO units have found a new torch in these dark times in clinical data management.Major BPOs such as Tata Consultancy Services TCS BPO, Satyam BPO and the BPO divisions of Accenture and Cognizant are betting big on clinical data management in these uncertain times. They believe that this business will continue to grow despite economic headwinds.
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