The race for Citigroup Global Services, the business process outsourcing arm of Citigroup is hotting up with the entry of the BPO firm WNS and consultancy firm Accenture.
The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.
The worldwide business process outsourcing market is forecast to grow by 6.3 per cent globally and 17.9 per cent in the Asia-Pacific during the year 2011, says a study by market research firm Gartner.
According to international consultancy firm McKinsey, companies across the world are mostly planning to increase their headcount in the next six months with firms planning new hirings being double of those looking for job cuts.
VCFs plan to disinvest their IT holdings to ITeS firms and gain from local markets
Aegis BPO Services, an Essar Group business process outsourcing (BPO) company, is close to acquiring an 8,000-seater BPO firm in the Philippines. The exact size of the deal is not clear.Aegis has been bullish on inorganic growth as its races to reach a turnover of $500 million (around Rs 2,000 crore) by 2010.
The effects of the sub-prime crisis and the resultant slowdown of the US market is evident on the margins of Indian information technology (IT) and IT-enabled Services (ITeS) firms. Business process outsourcing (BPO) firms such as Firstsource, Pune-based HOV Services, Zenta, Aegis BPO and others have been receiving inquiries from existing as well as new customers for ramping up their account receivables management (ARM) business.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
While 2017 was a record year for private equity investments in India after $23.5 billion in 660 deals, 2018 too has begun with a bang.
At present, at least, five over $500-million deals are being discussed for potential acquisition.
The opportunities for Indian law graduates abroad are getting brighter. We take a look at why and how you can take advantage.
The name of the company could not be disclosed as per the confidentiality clauses of the agreement inked by Tech Mahindra.
Global business process outsourcing in the financial services sector has the potential to reach a market size of $250 billion, with India playing a key role, says a study by global consulting and research firm Everest Group.
The Essar group firm is in talks with 7-10 companies for a "strategic fit", as it races to become a $500 million company by 2010. In some of these cases the due diligence process is in progress. Aegis is looking at firms in the US, South America and the Philippines.
Leading Indian and global information technology firms such as Tata Consultancy Services (TCS), Cognizant Technology Solutions, IBM, Satyam Computer Services and Wipro top the list of L visa users for the financial year 2006-07.
When European debt and sovereign crisis is giving anxious moments to multi-national CEOs, India's HCL Technologies is bullish on the continental Europe, aiming to get one-third of its revenue from the region.
Tier-II and Tier-III cities to emerge as new BPO hubs to offer services in Indian languages for telecom, aviation sectors.
The overall FDI policy landscape is changing and can do so faster, says
India's top business process outsourcing (BPO) companies posted a total revenue of Rs 32,246 crore (Rs 322.46 billion) in 2010-2011.
India's top business process outsourcing (BPO) companies posted a total revenue of Rs 32,246 crore (Rs 322.46 billion) in 2010-2011.
While Team Indus had backing from Nandan Nilekani, Ratan Tata and Flipkart founders Sachin and Binny Bansal, it could not even muster half of the Rs 4.5 billion it required for the mission to the moon.
IT major Tata Consultancy Services Ltd has acquired 100 per cent stake in Chilean software firm Comicrom for $ 23 million.
The proposed overhaul of popular H-1B visa regime may result in higher operational costs and shortage of skilled workers for the $110-billion Indian outsourcing industry.
Technology outsourcing and consulting firm Accenture Plc on Sunday said it was ending its six-year sponsorship arrangement with golfer Tiger Woods, who is embroiled in a scandal involving extra-marital affairs with numerous women.
With better infrastructure and quality human talent, Chennai fares better than Bangalore in attracting new investments from business process outsourcing and software firms
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
Gartner has forecast that revenue from BPO services within the domestic market will grow by 31.1 per cent from $521 million in 2009 to reach $683 million in 2010 and experience steady growth through 2014 to touch $1.6 billion by 2014.
The announcement comes in the wake of outsourcing and the ensuing flight of jobs to cheap labour countries like India becoming a contentious issue in the developed world.
This time, not only would the job cuts be higher, but they would be even more broad-based, encompassing various levels of employees.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
iGate has been reorganising its structure and analysing client accounts to enhance cost efficiency and scale operations.
Microsoft founder Bill Gates with an estimated fortune of $78 billion heads the list
The past few weeks have seen several hundred people let go of by IT services firms joining unions claiming to represent tech workers fighting for their rights.
Continuing its inorganic growth strategy, Aegis, the Essar group's business process outsourcing arm, has signed a deal to acquire UCMS Group, an Australian firm, through an all-cash transaction worth AUD 54 million (around Rs 203 crore).
Financial services firm Citi has retained the projection for India's economic growth in next fiscal at 8.4 per cent, saying there is less challenging atmosphere to various aspects of the economy, including outsourcing.
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