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Capgemini UK plc has signed a six year IT outsourcing contract valued at GBP 23 million with UKbased SHL, world leaders in the science of psychometrics in the workplace. Capgemini will maintain and transform the whole IT infrastructure at SHL and provide support for some 1,000 desktop users at SHL's 35 locations across the Americas, Europe, Africa and Asia Pacific.
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Small is big that is the new mantra of IT bigwigs like Wipro. With big ticket acquisitions not adding much value, the software majors now want to go in for smaller but more strategic buyouts.The big boys of Indian IT industry have been flirting with this name for a while and now there is a brand new add on. The buzz is Wipro is eyeing parts of Electronic Data Systems EDS business, the second largest global IT player.
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According to the latest TPI Index from sourcing advisory firm TPI, 2007 witnessed a landmark regional shift with Europe, the Middle East and Africa EMEA taking the lead in outsourcing activity. 2007 was the first year ever
that both the number of contracts and the total contract value TCV in EMEA exceeded those measures in the Americas. Although the final quarter of 2007 had the lowest quarterly number of contracts awarded in EMEA that year 51, it yielded the highest quarterly TCV , up nearly 43 percent quarteroverquarter and 18 percent yearon year. And despite the award of fewer contracts in 2007, EMEA accounted for EUR6.4B more in TCV yearoveryear a 24 percent increase on 2006.
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Indias IT services market is forecast to grow to USD 10.73 billion by 2011, at a five year compound annual growth rate of 23.2 percent, as outsourcing emerges as a more favored option for companies in India, according to research firm Gartner.As companies are finding it more difficult to hire and retain staff in their IT departments, they are looking at external service providers as an option, hoping to also cut down costs, and better manage growth in the process, Gartner said Tuesday.
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UK firms that offshore their IT functions are increasingly favouring Indian suppliers, a new national study has found. According to independent sourcing advisory firm EquaTerra, Indian IT services firms such as Wipro and TCS are steadily increasing their profile and popularity among UK IT decision makers.EquaTerras Outsourcing Service Provider Performance Study 2007 polled highranking executives at 110 of the UKs top IT spending organisations and evaluated GBP 34bn worth of UK contracts.
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Software major Tata Consultancy Services TCS, which was the first to brack the billiondollar rubicon in revenue among Indian software companies, has now bagged the largest outsourcing deal in the Indian software sector. TCS has bagged a USD1.2 billion outsourcing contract from The Nielsen Company, a USbased information and media company in a 10year deal that involves maintaining IT systems, providing support to IT systems remotely, developing and maintaining HR, accounting software and providing back office services to Nielsen.
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Most segments in the knowledge process outsourcing space, such as legal, publishing, media services, analytics and engineering services are growing at anywhere between 30 to 40 percent per annum. Within a few years of takeoff, the offshoring industry is rapidly moving towards more innovative business models and showing signs of growing maturity.
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Tata Consultancy Services Ltd, Indias largest software services firm, reported profits of Rs 1,326.67 crore for the three months to December, almost one fifth more from a year ago, riding increased business volumes in a quarter the Mumbai firm signed a USD 1.2 billion, or Rs 4,740 crore, tech services contract with audience measurement firm Nielsen Co.Revenues at the firm, commonly referred to as TCS, expanded 21.5 percent to Rs 5,923 crore in the quarter, the third in fiscal 2008. The revenues were lower than estimates in a Mint poll of six analysts. The average of the poll anticipated revenue growth of 22.6 percent to Rs5,960 crore for the firm.
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National Retail Federation Annual Convention and Expo 2008 HCL Technologies Ltd. HCL, Indias leading global IT services company, today announced the launch of a serviceoriented architecture SOA Competency Center for Retailers at this weeks National Retail Federation Convention. The Competency Center is designed to guide retailers in the areas of SOA tool selection, development methodology and project execution, leveraging an industryspecific set of services and the deep expertise of HCL team members in areas relevant to SOA and BPM.
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A clean sweep of UK businesses that outsource their IT said they offshore all or part of their IT function to India, according to the survey, which was undertaken by sourcing advisory firm EquaTerra. If anything, Indian service providers extended their popularity over European providers during the last year, securing four of the top five rankings for customer satisfaction. Meanwhile, despite Chinas high profile, only 5 percent of the UK C level respondents said they offshore to the region.
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The GCC should transform itself into an offshore services hub to reduce the regions dependence on dwindling oil reserves and generate more jobs, according to a human resources consultancy.The offshoring trend has propelled several countries onto a high growth path. One of them is India, whose gross domestic product GDP has grown at twice the global rate over the past 20 years, said Vikas Verma, Hewitt Associates practice leader for Asia Pacific.
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After weathering a tough 2007, Indias flagship IT companies face the spectre of a US economic slowdown squeezing profits as they start unveiling earnings this week, analysts say. Software firms such as Tata Consultancy, Infosys and Wipro were last year roiled by the rupees steepest appreciation against the dollar in three decades, surging wages and realestate values and the end of a tax holiday. Now come possible cutbacks in the informationtechnology budgets of US clients preparing to tighten their belts as a housing slump, tighter credit and high energy costs take their toll on the worlds biggest economy.
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Analyst Gartner predicts the global outsourcing market will grow at a steady pace of 8.1 per cent in 2008, and such growth will be driven by multisourcing and offshoring.Publicly reported IT outsourcing and business process outsourcing contract values decreased overall by 50 per cent last year. Gartner says more firms are using a multisourcing strategy that includes a range of smaller deals that are not reported in the press.
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Until now, companies offshoring some of their IT operations have generally followed two broad paths, they have either outsourced to a third party services provider overseas, or launched their own captive centre at the offshore destination.A captive centre is a companys wholly owned facility for software development, IT support, backoffice data processing, call centre operations, or business process outsourcing.In this model, the activities are performed offshore, but are not outsourced to another company.
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US based CDC Software expects to make one or two acquisitions in India next year to spread its offerings, company officials said on Wednesday.Nagaraja Prakasam, Managing Director of CDS Softwares operations in India, said the company is evaluating four potential acquisition targets in India now and expects to buy out one or two next year.
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Outsourcing any part of your business is a risky step, as it means handing over control to another company. The outsourcing supplier may do a better job of the outsourced process than you could, and for a lower cost, but there is also a chance it will get things wrong. And if something goes wrong, it is your companys name that will feature in the headlines.So, anyone looking at outsourcing needs to think carefully. It is essential to understand the risks, and to take all reasonable steps to keep them to a minimum.It is also worth keeping the risks in perspective. Since the days of the computer bureaux in the 1970s, companies have given payroll processing to outside suppliers to handle, and for the most part those specialist companies carried out their task without a problem.
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The mega corporate of India which is vying with the international business conglomerates for primacy Reliance Anil Dhirubhai Ambani Group ADAG will launch the IT Company entitled Tech Reliance shortly aiming to provide Information technology consulting and services. According to a source in the internal circles of the group Tech Reliance will launch its functions from four to five development centres across the country, out of which the company will look at Bangalore and Mangalore as a possible first launch centers.
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Indias information technology market is poised to expand 24 percent in 2008 as it enters a new growth trajectory, an industry report said Tuesday.Revenue from the domestic IT and outsourcing market will touch 1.1 trillion rupees 27.9 billion dollars this year, offsetting a slowdown in IT spending worldwide, according to the report by market research firm IDC.The industry is now onto a new growth trajectory, IDC India country manager Kapil Dev Singh said in a statement.
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It has been a tough year for the darling of the past few years, the information technology and IT enabled service industry. But there is always a silver lining to clouds.The rupee has run up 15 per cent over the past year and wages also went up in the exportoriented industry. As if that was not enough, the US stared into a recession and the hottest clients of the hottest IT market, the financial service giants, ran into deep problems following the subprime crisis involving bad loans.
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