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Aditya Birla Minacs, an arm of Aditya Birla Group, on Tuesday announced the acquisition of the UK-based Compass BPO, a leading end-to-end finance and accounting (F&A) services provider.Through this acquisition, Minacs would take over all the operations of Compass across the UK, US, Middle East and in India, bringing Minacs F&A employee strength to 600, it said in a statement.
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The US is the largest trading partner of India. Indo-US trade relations have been strengthened following the liberal policies adopted by the Indian government to promote foreign direct investment (FDI) in the country in the early 1990s.In recent times, Indo-US trade has increased by 25%, indicating ample scope of growth for Indian companies. Indo-US bilateral relations have been further consolidated by the growing presence of the Indian SMEs in the US. Significantly, an increasing number of Indian SMEs in the legal process outsourcing (LPO) sector can be attributed for fuelling this growth.
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US largest drugstore chain Walgreens has announced a 10-year outsourcing deal with Indias BPO provider Genpact. As part of the contract, Walgreens will shift its accounting processes and jobs to Genpact, a move that will involve transfer of at least 500 jobs. This is Genpact fourth-large deal in past three months, signaling a gradual bounce back in the global BPO business market.
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ExlService Holdings, Inc., a leading provider of outsourcing and transformation services, has announced plans to set up two new delivery centers in Noida and Jaipur in India. These centers will expand EXLb s global services capacity, support new client acquisitions and enable greater flexibility to meet client requirements. It will also strengthen EXLb s ability to provide a stronger business continuity framework.
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US-based private equity group KKR-owned HR software and services provider NorthgateArinso has acquired the HR management division of US based Convergys for USD100 million. The firm will pay about USD85 million at closing and another USD15 million over three years. The acquisition includes the assets, customer portfolio and global delivery network of Convergysb HR management division. Convergys HR management division alone has global revenue run rate of about USD250 million and services some major clients like Cadbury, Whirlpool and Shell from India. This takes the total value of the NorthgateArinso-Convergys entity to be around USD900 million.
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Software exporter L&T Infotech, which has been lagging its larger rivals in growth rates and profitability, wants to add BPO capability to its portfolio of offerings so it can provide customers with the full range of services starting from application development and testing to back-office processing. The company has appointed one of the big four consulting firms to advise on its BPO strategy. L&T Infotech is a fully-owned subsidiary of engineering giant Larsen & Toubro.
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BMO Capital Markets has signed a long-term BPO contract with BancTec to manage its invoices and cheques. As part of the contract BMO Capital Market will direct invoices to BancTecs facilities, where they are scanned, processed and archived for backup. Additionally, paper cheques will be converted to electronic images to enable clients to manage late payments or missing customer account details more efficiently.
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Indian media company UTV Software Communications has signed a five-year BPO deal with IBM to streamline its key provisions. The technology giant will take over the companys finance and accounts, rights management, procurement, projects, material management and other key functions in a bid to provide a customer-centric operating environment. Included in the contract is Indias first cloud-enabled email system, according to the company.
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India-based back office services firm EXL Services, which competes with bigger rivals like Genpact and WNS Global Services, plans to establish a delivery footprint in its top export market of the US through an acquisition. The firm is currently evaluating several deals, said the companyb s president and CEO Rohit Kapoor. b We are pursuing acquisitions for geographic location and capability. For geographic location, we are primarily interested in onshore. There are several deals in the pipeline, some in the initial stages, some in the due diligence stage and others, where we are vetting the term sheet,b says Mr Kapoor.
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Back-office services provider Genpact has bagged a five-year contract from telecom operator Unitech Wireless to provide multiple customer service solutions to the latter. The BPO firm, however, did not disclose the size of the contract. Under the five-year contract, Genpact will deploy customer service solutions for Unitech Wireless in North India through its operation centre in Jaipur.
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French digital and print content management company, USD 150 million Jouve group has announced the acquisition of the Chennai-based outsourcing firm TexTech for USD 5.4 million and said it will shift a part of its Madagascar operations to India.b As a de-risk strategy and to avoid disruption in our services to our customers, we plan to shift the English language publishing work from Madagascar to our Indian subsidiary TexTech,b said Pierre Vincent Debatte, chief executive of the French firm.
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Indian business process outsourcing (BPO) firm Hinduja Global Solutions, Ltd. opened another facility in the Philippines on Friday, bringing its total investments to the country to USD35 million. The 3,522-square-meter, 1,000-seat call center at Eastwood Cyberpark in Libis, Quezon City cost USD2.5 million. This complements an existing facility also in Libis, known as HTMT Philippines. Opened in 2004 after the Hinduja Groupb s acquisition of Customer Contact Center (C-Cubed), the facility which measures 8,672 square meters and has 2,000 seats is the single largest facility of the group outside India, company officials said.
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Indiab s largest back-office firm Genpact has announced the acquisition of US-based analytics and data management services provider Symphony Marketing Solutions SMS. Apart from expertise in data integration, modelling and consulting, the acquisition will see transfer of 1,200 SMS employees spread across centres in India and the US to Genpactb s payrolls. Currently, the Indian firm employs more than 37,000 people globally.
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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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India's IT-BPO market,including exports could touch USD 285 billion in 2020 growing at a CAGR of 15 per cent, according to a report.The IT-BPO industry in India has achieved impressive growth rates over the past decade and stood at USD 71.6 billion in 2009, said the report prepared by KPMG and ASOCIO (Asian-Oceanian Computing Industry Organisation).
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BMO Capital Markets has signed a long-term BPO contract with BancTec to manage its invoices and cheques. As part of the contract BMO Capital Market will direct invoices to BancTecb s facilities, where they are scanned, processed and archived for backup. Additionally, paper cheques will be converted to electronic images to enable clients to manage late payments or missing customer account details more efficiently.
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Firstsource Solutions and UniRush LLC, USA have entered into a three year agreement. As per this, UniRush will be getting its customer care management services being take care of by Firstsource, which is a global provider of outsourcing services.The services that Firstsource will provide will include call center services and also back office management. This is going to support the UniRush's e-work division. Talking about the deal, Sanjeev Sinha, Executive VP, Firstsource said that the company has a long and credible track record of providing such services to big clients. And majority of them are from the financial services segment.
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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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India is expected to retain its leadership position in global sourcing supply of IT-BPO by 2020 and could touch the market at USD285 billion by then, growing at a CAGR of 15 per cent, says a report released by KPMG and Asian-Oceanian Computing Industry Organisation (ASOCIO).The report,Asia-Oceania Vision 2020: Enabling IT leadership through collaboration revealed that India, which is the current market leader in global sourcing supply serves around 51 per cent of the overall global sourcing and has achieved impressive growth rates over the past decade. Nasscom in its latest announcement said that Indian IT-BPO market stands at USD 64 billion as on 2009.
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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 companys capability to deliver end-to-end business solutions.
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IBM has signed a business process outsourcing (BPO) contract with Convergys to provide customer service and data accuracy services for the upcoming 2010 US census, in a project that will need more than 1,500 agents.As part of the outsourcing deal, Convergysb contact centre agents will call citizens who have submitted incomplete or inaccurate census questionnaires to improve data accuracy.
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US largest drugstore chain Walgreens has announced a 10-year outsourcing deal with Indias BPO provider Genpact. As part of the contract, Walgreens will shift its accounting processes and jobs to Genpact, a move that will involve transfer of at least 500 jobs. This is Genpact fourth-large deal in past three months, signaling a gradual bounce back in the global BPO business market.
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IT and outsourcing giant announces plans to expand Indian BPO centres, having significantly cut US and European workforce in 2009. IBM has announced that it will increase its business process outsourcing (BPO) resources in India during 2010 by at least 5,000 people. The company currently operates BPO facilities in a number of Indian cities, including Mumbai, Kolkata, Pune, Hyderabad and Gurgaon, and indicates that any expansion will likely take place in existing locations. It hopes to capitalise on an anticipated uptick in demand for BPO services during the coming year.
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Indian media company UTV Software Communications has signed a five-year deal with IBM to streamline its key provisions. The technology giant will take over the companyb s finance and accounts, rights management, procurement, projects, material management and other key functions in a bid to provide a customer-centric operating environment. Included in the contract is Indiab s first cloud-enabled email system, according to the company.
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The US largest drugstore chain Walgreens has announced a 10-year outsourcing deal with Indias BPO provider Genpact. As part of the contract, Walgreens will shift its accounting processes and jobs to Genpact, a move that will involve transfer of at least 500 jobs. This is Genpacts fourth large deal in past three months, signaling a gradual bounce back in the global BPO business market.
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