WNS, an NYSE-listed business process outsourcing company, recorded good second quarter numbers, reflecting the improving market conditions in global markets. Neeraj Bhargava, Group CEO, attributed the performance to better volume growth and a robust pipeline. In a chat with Business Standard, he spoke about the recent stake sale talks with Warburg Pincus, appointing a new CEO and other issues.
The report tries to present data from the annual reports of the Indian Computer Emergency Team, and Symantec in a way that suits its story.
Terminates services of over 600 contract workers in February.
Shanmugam Nagarajan, co-founder and chief people's officer, 24/7 Customer, feels young grads should not feel disheartened because of the current economic downturn.
PV Kannan, co-founder and CEO of 24/7 Customer, on his success mantras and advice to young Indian entrepreneurs.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said on Monday.
The Maharashtra government has embarked on an ambitious plan to issue computerised, barcode-based ration cards within the next eight months in a bid to overhaul the operations of the Public Distribution System. Spanco Telesystems and Solutions Ltd, a leading systems integration and business process outsourcing companies has bagged from the Food, Civil Supplies and Consumer Protection department to execute this plan.
IT major Wipro's chief Azim Premji on Friday cautioned the industry that competition globally is hotting up and warned the sector against falling into a mind trap of 'India Advantage'.
Suggesting that layoffs in the information technology and business process outsourcing industry are still less than 1 per cent of the total workforce, top National Association of Software and Service Companies executives have said that the industry has not yet come in the grip of large-scale layoffs.
Taking the first concrete step towards curtailing the rising incidents of crime against business process outsourcing (BPO) staffers, a group of 32 Pune-based BPOs and National Association of Software and Service Companies (NASSCOM) have framed a 'code of conduct' to ensure their physical security.
Sensing the high stress levels among employees that lead to lower productivity and higher attrition rates
The Business Process Outsourcing companies in India appear to be handling the impact of the global economic crisis much better than IT firms
"The (tax) exception given to BPOs has to be withdrawn under section 10 (A) of Income Tax Act. There is no provision in DTC for any such extension of benefits," tax expert and International Fiscal Association of India Branch Chairman T P Oswal told PTI.
The survey covered around 3,000 units from sectors like textiles, gems and jewellery, metal and metal products, leather, automobiles, as well as infotech and business process outsourcing. The latest survey says total employment in the surveyed units was 15.72 million. This is less than the 16.2 million jobs in the same units seen in September 2008.
Two outsourcers would be selected to perform a range of work and are set to benefit as Westpac spends hundreds of millions of dollars over the next couple of years to update core banking systems and integrate complex technology functions as part of the 12-billion-Australian-dollars acquisition of St George Bank, the newspaper said. Westpac refused to comment on the issue.
Tata Consultancy Services has been named as one of the world's top BPO providers by The International Association of Outsourcing Professionals for 2006, a release said in Mumbai.
Wipro BPO, the business process outsourcing division of global IT services provider Wipro Technologies, would add about 1,000 people at its Hyderabad centre in six to eight months.
Leading business process outsourcing services provider Intelenet Global Services has said it plans to expand its footprint overseas and hire around 7,000 personnel in FY '11.
Countries that adapt to change and are on the cutting edge of IT innovation will come out of the recession stronger than before. Any number of countries could emerge stronger but that's up to their governmental leadership and the strength of their IT industry.
MphasiS, the IT and business process outsourcing service provider, has seen some changes in recent years. First, the Bangalore-based company promoted by Jerry Rao was acquired by EDS. Then, HP acquired EDS last year.
The domestic India BPO services market grew by 7.3 per cent year-on-year in 2009 primarily due to the global economic uncertainty which led to some price and volume pressures.
Following stringent cost-cutting measures by business process outsourcing units and IT firms across the country, the business of call centre cab owners has dwindled by anywhere between 5 and 40 per cent.
China poses the biggest challenge to India's IT outsourcing industry, which is expected to grow by an average 15 per cent over the next two years, according to the chief executive of India's biggest business processing outsourcer.
Currency hedging, cost management, operational efficiencies, coupled with robust demand for outsourcing IT services helped top four local business process outsourcing firms manage the subprime crisis and rupee appreciation.
Gripped by despair after being handed out pink slips, IT professionals now have help at hand with a group of concerned fellow professionals hosting a website to help them.
Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
EXLService Holdings, Nasdaq-listed business process outsourcing unit, posted a 77 per cent year-on-year fall in its net income for the quarter ended June 30, besides reporting a foreign exchange loss of about Rs 8 crore (Rs 80 million). Rohit Kapoor, the BPO's CEO and president, spoke to Kirtika Suneja on the road ahead in these challenging times.
The estimation is in line with an earlier forecast of 4-7 per cent given by National Association of Software and Service Companies. The industry was optimistic to reach the $50 billion milestone export target in the current fiscal.
Firstsource was perhaps the first BPO that set shop in the US city of Buffalo in 2004 with 287 employees.
Firstsource Solutions (formerly ICICI OneSource), a business process outsourcing company, on Thursday acquired BPM - a Delaware-based healthcare claims' outsourcing company.
Reliance Communications has received approvals from Maharashtra and MIDC for its proposed 45-acre special economic zone.
Fortune 1000 comprises a list of thousand largest American companies in terms of revenues compiled by the US business magazine.
The Mumbai terror attacks have once again put Indian IT and business process outsourcing firms on high alert. Over the next four to five weeks, many of these firms plan to meet or video-conference with their clients to update them of the country's security scenario.
Among insurance companies, general and health insurers are the worst affected by the shortage. The business process outsourcing industry, particularly the niche knowledge process outsourcing companies, are the second biggest recruiters of actuaries today.
Nasscom announced on Tuesday that it will soon introduce a `best practices' policy framework to streamline and standardise processes in the information technology-related services and business process outsourcing (ITeS-BPO) industry.
WNS Global Services, India's second largest business processes outsourcing company, has signed on Sri Lankan fast bowler Lasith Malinga as its brand ambassador. It has thus become the first Indian IT services firm to have a brand ambassador. Accenture, a multinational company, is another one that has ace golf player Tiger Woods as its mascot.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
The Tata Group has decided to defer its plan of setting up a rural business process outsourcing unit near the proposed steel plant at Kalinganagar in Orissa by two years.
Even as IT majors are hiring in fewer numbers this financial year on the back of a slowing global economy and trauma in the banking, finance and insurance services (BFSI) sector, Indian business process outsourcing (BPO) firms--captive and pure play--appear bullish. They are increasing their headcount in the country, attributing their optimism to business ramp-ups over the last couple of months and an increased acceptability of offshore work.
Sunil Wadhwani and Ashok Trivedi, co-founders, said: "The separation is a logical step for the company. Our board has reviewed the divestiture and believes it will benefit our shareholders, employees and customers."
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