Wipro hires former TCS veteran as Group Prez & COO.
In its interaction with finance minister Pranab Mukherjee on Tuesday, the IT-BPO industry - represented by Nasscom -- stressed that the industry and government would have to join hands to accelerate IT adoption in the government sector. "We received a positive response from the government," said Nasscom president Som Mittal.
Terming the Eurozone debt crisis as a "short term" phenomenon, IT industry body Nasscom on Wednesday said that the European bloc will continue to be one of the largest markets for the Indian IT-BPO industry.
Quattro is the first BPO to have secured permission for this model from DoT. "This is a provisional permission. Once the company is able to meet all our security concerns, we will grant them a license," confirmed a senior DoT official on condition of anonymity.
According to the 2008-09 report of the IT-BPO industry body, the Indian animation industry was worth $494 million in 2008.
Nasscom representatives, on their recent visit to the US, met a large cross-section of stakeholders the US administration, elected representatives of the Congress, various associations, US headquartered companies and customer companies as well. The industry body also said that protectionist policies would only delay the recovery of the US from the ongoing recession.
Nasscom has identified 4-5 different areas and is taking these recommendations to the government.
It took India's IT-BPO sector just over a decade to grow more than 12 times, from $4 billion in 1998 to a shade under $50 billion in 2009. Admittedly, the target set by the software service providers' body Nasscom was off by a year.
Software services major Wipro on Wednesday said its BPO has been rated among the top global Finance and Accounting (F&A) service providers by analyst firm HfS Research.
Industry body Nasscom on Wednesday said it has formed a corporate governance and ethics committee to prevent Satyam-like incidents in future.
Sources said that Essar group firm Aegis BPO submitted the EoI recently as the Essar group is trying to expand its BPO business. Both Aegis and Satyam BPO work with companies in telecom, banking, finance and insurance. Satyam BPO's biggest international clients reportedly include BellSouth, Verizon and GlaxoSmithKline
The IT-BPO industry is becoming increasingly alert on fake biodatas. India's largest IT serivces provider, Tata Consultancy Service, has recently asked close to 20 employees at its Kolkata centre to leave after the company, during the background verification, found that these employees have used fudged resumes to get jobs.
Fearing that the image of the Indian IT companies globally will take a beating following the Satyam fiasco,IT-BPO union UNITES on Friday said that industry body Nasscom should institute an inquiry in association with World Bank on Satyam, which has been banned from doing business with the bank for eight years.
The last couple of months have dealt a severe blow to IT firms, which has even prompted the top listed Indian IT services providers to inform investors that they need to scale down their growth expectations from the sector that, on an average, has been growing almost 30 per cent year-on-year.
It is necessary that at least three million additional jobs (if not more) are created every year to ensure that there isn't an increase in the stock of unemployed, says Mahesh Vyas.
Companies say it helps them save on consultant fees and reduces the recruitment life cycle. Companies pay consultants close to 20 per cent of the annual package of a person provided by them as their fee; incentives paid to the company's employees for bringing a candidate is comparatively paltry. Besides, companies believe the buddy system gets them the right person who is in sync with their culture, which becomes more significant in turbulent times.
IT-BPO firms, which are already facing a US slowdown and currency fluctuations, are now busy in firming up their plans to tackle a rising inflation in the country and its impact on salary, sales, general and administrative (SG&A) and travel costs, which can dent their profit margins.
On the second day of the summit, Indian vendors discussed ways to tackle the financial crisis head-on with innovation being the focal point. Most believed that there is enough opportunity within the country for the industry.
The Satyam incident did not come as a bolt from the blue for the Bangalore-based IT-BPO union, who had written to the IT industry body Nasscom, the Prime Minister, IT Minister and Ramalinga Raju himself to conduct an inquiry into the affairs of the company in 2008.
Three major undersea cables -- the Sea Me We 4, Sea Me We3, and FLAG -- were cut, considerably slowing down India's internet and voice traffic. The extent of the damage is still being assessed.
Despite a tough economic scenario, the Indian IT software and services sector will touch the $50-billion mark in 2008-09, though the indicated growth is lower at 21-24 per cent (currency-adjusted), according to Nasscom.
What started as a "low-cost support industry", is now a sector specialising in knowledge-intensive processes. Recognising the specialised skill sets built up by the Indian IT-BPO industry in new and emerging areas such as engineering services outsourcing, remote infrastructure management and animation and gaming, Nasscom has released focused research reports on the potential opportunity in these segments.
Employees who forward office documents and emails to personal email accounts pose the greatest security risk to an organisation, according to a report by Websense.
Infosys BPO, which started knowledge process outsourcing services as a part of its BPO offerings four years ago, is aiming to make Gurgaon the hub for its KPO business.
Corbus India has been named the most-lucrative emerging company to work for, in a new survey by information technology industry body Nasscom. In its first survey on the 'Top 15 Exciting Emerging Companies to Work for' in the IT-BPO sector in India, Nasscom identified the best small- and medium-enterprises that had a turnover of less than Rs 250 crore.
The success of IT highlights the importance of opening up and integrating our economy with the world economy.
Infosys BPO is planning on closing 3 deals to the tune of Rs 600 crores in the next 3-6 months.
The herculean effort and complexity involved in getting IT-BPO employees and employers to register - coupled with the high costs incurred in the process - is likely to force IT industry body Nasscom to miss its March 2008 target of 500,000 registrations for its National Skills Registry (NSR) by a huge margin.
In the knowledge economy they are a new retention tool.
This Diwali, Rakesh Mehta, a senior sales and marketing employee with an IT firm, will celebrate in Australia with his family. Mehta, is one of the top performers of his company and has been rewarded with this 'Diwali Gift'. Other top performers from his company will celebrate their Diwali in New Zealand and Mauritius. In fact, a lot of IT, BPO, pharma companies and banks are rewarding their employees for good performance by sending them to exotic locations.
Corbus India, RMSI and Hytech Professionals may be lesser known companies IT space compared to peer group but they rank as the top three firms in Nasscom's 'Exciting Emerging Companies to Work for' list.The other companies in the list of 15 are Nagarro Software, VCustomer, e4e Business Solutions, Synergy India, Ajuba Solutions, Mindlogicx, Nucleus Software, Infogain, ValueLabs, Barry-Wehmiller, GlobalLogic and AgreeYa.
Right from day one, the delegates were faced with external odds over which they had little or no control. For instance, would the Software Technology Parks of India scheme be extended beyond 2009? They could only take home the assurance that Minister for Communications and IT Thiru A Raja was on their side.
IT and ITeS sectors' contribution to India's GDP has increased by 4 times in the last 10 years, revealed a study.
Today, however, the major six IT MNCs alone -- IBM, Accenture, Capgemini, EDS, HP and ACS -- account for over 9 per cent of the Indian IT-BPO workforce. Overall, MNCs in India account for an estimated 14-15 per cent of the Indian IT workforce.
IT major Infosys on Tuesday showed the door to Abraham Mathews, CFO of its BPO subsidiary, for not complying with the code of conduct, while CEO Gautam Thakkar has resigned taking responsibility on moral grounds.
Software major Infosys Technologies on Thursday said it has reached an agreement with Citicorp International Finance Corporation to acquire the latter's stake in its BPO arm Progeon Ltd for $115.13 million (nearly Rs 518 crore) in cash.
An early stage venture capital fund recently raised a Rs 100 crore (Rs 1 billion) Mauritius-based fund to invest in Indian real estate and plans to raise a similar fund later this year.
Out of the top 11 Asia Pacific economies, the average monthly Indian starting salary was ranked ninth.
Wipro Spectramind is hiring Technical Support and Customer Care Associates.
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