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US based CPA Global, a leading provider of legal process outsourcing (LPO) and the world's top intellectual property (IP) management specialist, has plans to hire 1,450 people over the next two years.Presently, the company is busy in the set up of its third centre, which may come in one of the shortlisted cities - Pune, Bangalore and Hyderabad. The company intends to hire 1,450 professionals in the next two years, taking the total headcount to nearly 2,000.
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Outsourcing revenues from the telecom sector in India are set to grow at a CAGR of 31 percent to nearly USD2 bn in 2012, according to a first-of-its-kind study on the potential of the domestic BPO industry by Ernst & Young. Bharti has been growing at CAGR of 41 percent in the past two years. The telecom industry has been adding around 10 million subscribers every month with a subscriber base of 375 million in 2008-09.
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Indian legal process outsourcing LPO sector is currently experiencing a positive effect of U.S. financial crisis as bankruptcy filing incidents as that of the major investment firm Lehman Brothers make many corporate houses and investment banks to shift their credit crisisrelated work to lawyers in India as it is a more viable and costeffective option.With more international firms turn to India for LPO, the sector is expected to witness a surge in business. Major LPOs such as Pangea3, Quislex and Mindcrest have seen a significant increase in the number of outsourced projects in the last few months.
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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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Indiab s leading entertainment company Adlabs Films announced its entry into BPO for film industry. The company is owned by Indiab s leading business conglomerate Reliance Anil Dhirubhai Ambani Group. Adlabs owns Indiab s largest chain of multiplexes called Big Cinemas.BIG Cinemas is the largest cinema chain in India. It was previously known as Adlabs Cinemas. Adlabs was founded in 1978 by Manmohan Shetty as a film processing unit. In 2001, Adlabs entered the multiplex business by launching India's first IMAX theatre in Wadala, Mumbai.
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The Indian publishing BPO industry is expected to grow to a value of $ 1.2 billion by 2012. This growth is expected to come from rise in the number of publishing companies that will outsource , which include traditional segments such as STM/Academic, Educational & Legal Publishing, as well as new segments such as magazines, corporate and B2B publishing.
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The market for KPO or Knowledge Process Outsourcing, which follows the success waves created by ITO Information and Technology Outsourcing in the 1980s and the BPO Business Process Outsourcing in the 1990s, is expected to touch USD10 to 17 billion by 2010 and India is well poised to grab a major share of the market, a research paper released by the global audit, tax and advisory services group KPMG has revealed.
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India continues to be the most favoured back-office of the world, but the West Asia and North Africa region is slowly emerging as a promising offshoring destination, global management consulting firm A T Kearney says.
According to A T Kearneyb s Global Services Location Index GSLI , India, China and Malaysia have retained the top three spots since the last five years.
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Wipro Technologies said on Monday that its Business Process Outsourcing divison, Wipro BPO has partnered with Oracle for 'best-of-breed HR platform solutions.' Wipro has also selected The Hackett Group, a global strategic advisory firm, to provide empirical data, best practices and world-class performance insights on the development of its innovative bundled solution platform.
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Essar Group-owned BPO Aegis has acquired Australia-based UCMS Group for USD40.7 million Rs 200 crore. Aegis Australian affiliate, Aegis BPO Services Australia, will pay UCMS shareholders USD0.68 per share. With this acquisition, Aegis will add 2,000 UCMS employees with the combined entity having a staff strength of 35,000 spread across India, the Philippines, the US, Costa Rica, Kenya and Australia.
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Founded by India's ICICI Bank as a BPO start-up in 2001, Firstsource has risen to prominence in recent years as a serious offshore BPO contender. With total annual revenues of $383 million, Firstsource now ranks alongside IT services vendors such as TCS, and pure-play BPO vendors such as WNS and Aditya Birla Minacs in the Indian BPO services landscape. This places it in the broad group of second-tier Indian BPO vendors that sit far below the largest player, Genpact, which generates just over $1 billion in BPO revenues annually.
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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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Sparsh BPO Services, the domestic BPO subsidiary of Intelenet Global Services Intelenet announced the launch of its second delivery centre in Bangalore.The 450seater centre located at Hebbal in Bangalore further expands Sparsh`s presence in the city and provides proximity to key customers in the Southern region.
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The legal profession in India has expanded to new dimensions and is no more confined to conventional bar practice. It is clear that the offshore outsourcing of legal services to India, commonly although perhaps misleadingly, referred to as legal process outsourcing LPO, is a fast to growing industry. The Trade Policy Review of India tabled at WTO in April this year terms this phenomenon as offshore outsourcing of legal services and estimates the market potential for offshore legal services from the US alone at US Dollar 3 to 4 billion. Legal professionals are enthusiastic, optimistic, yet curious about the nature and scope of offshore legal work provided from India.
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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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Syntel, Inc., a global IT and Knowledge Process Outsourcing KPO company, was named the top-rated BPO provider to the health insurance industry by The Black Book of Outsourcing. The results were generated by tabulating surveys from over 2,800 insurance executives, who were asked to evaluate providers on 18 Key Performance Indicators KPIs.
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Faced with high costs and falling demand, the Aditya Birla group is shifting part of its backoffice operations from Canada to India.Aditya Birla Minacs, the groups BPO firm, has closed down its three centres, with a capacity to house 1,200 people, in Canada. The company downed shutters of units at Pickering, Saskatoon and Chatham in Canada. Aditya Birla Minacs, which was acquired by the Birlas from the Minacs family in Canada in June 2006, is a division of the groups holding company Aditya Birla Nuvo. The company has 12 centres in Canada. BPO and IT business together constitute 13 per cent of Aditya Birla Nuvos total revenues.
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