September 2010 Blog Posts (12)

Nestle set up shared services in Ukraine

Swiss firm Nestlé S.A., the world leader for foodstuffs production, announced today about setting up the United Business Service Center in Lviv. Nestlé announced it was spending SFr25m setting up a back office services operation in the Ukrainian city of Lviv to look after more than 20 countries in the region, over the next 3…

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Added by Rakesh Sangani on September 30, 2010 at 1:00pm — No Comments

UK based firm Vertex forms JV with Delhi’s BPO firm Shell Transource

UK based BPO company Vertex announced its joint venture with Delhi-based BPO firm Shell Transource to tap the multi-billion dollar business opportunity in the Indian market. The JV, which is yet to be named, is eyeing revenues worth $100 million and plans to have a headcount of 20,000 over the next three years.



"We have inked a deal with Shell Transsource and the JV will allow us to strengthen our presence in the domestic market here and serve the Indian companies. In fact we hope to… Continue

Added by Rakesh Sangani on September 29, 2010 at 1:14pm — No Comments

Final Thought: Cognizant to acquire Genpact?

This week, the Indian press have rumoured that Cognizant Technology is looking to buy Genpact, and is currently carrying out its due diligence of the BPO company that was initiated a few weeks ago. It is expected that Genpact investors are expecting a 30% premium on the market value of the company. General Atlantic and Oak Hill Capital currently hold 89.57…

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Added by Rakesh Sangani on September 23, 2010 at 8:30am — No Comments

Edinburgh Council £90 million spending cuts not painless!

City of Edinburgh Council’s Finance Director, Donald McGoughan, has provided details of the first phase of £90 million cuts and stated that the three stage plan was “not painless” and that the savings could well involve shared services. The first phase of the cutbacks total £16 million, a sum Mr McGougan described as “modest” in…

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Added by Rakesh Sangani on September 22, 2010 at 8:56am — No Comments

Genpact agree strategic cooperation in China SEZ (Special Economic Zone)

Tianjin Economic-Technological Development Area Administrative Committee and Genpact signed a strategic cooperation agreement in order to provide a variety of services including human resources, financial operations, procurement and asset management.…

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Added by Rakesh Sangani on September 21, 2010 at 8:30am — No Comments

TCS acquires the India Captive Shared Service Centre of Grocery Retailer

Leading ITO and BPO provider Tata Consultancy Services (TCS) has acquired the India captive of Minneapolis-based grocery retailer SuperValu Inc in a “sale and leaseback” arrangement, with over 600 associates of SuperValu working in Bangalore now joining TCS.



The captive unit was set up in 2007 and focuses on IT infrastructure, applications and business and corporate services for its parent company. The supermarket chain SuperValu is one of the largest players in the US grocery… Continue

Added by Rakesh Sangani on September 20, 2010 at 8:30am — No Comments

Final Thought: Brazilian Growth

Brazil is in the heart of the growth in Latin America outsourcing. Forrester research predicted that the Latin American market for outsourced services will grow 12% in 2010 to $8 billion. According to BRASSCOM (the Brazilian equivalent to NASSCOM), Brazil’s offshore market rose 75% to $1.4 billion in 2008.



As one of the BRIC countries, Brazil is expected to have high growth over the next few years and with a 8.8% growth rate in Q2 2010 it is meeting those expectations. The market is… Continue

Added by Rakesh Sangani on September 10, 2010 at 6:30am — No Comments

Barclays to create 600 jobs in Glasgow

Global bank, Barclays, is set to create 600 jobs in the city of Glasgow, Scotland. It plans to expand its presence in the city, with a new facility for its investment banking and wealth management division, receiving more than £6.5m in Regional Selective Assistance Funding from Scottish Enterprise.



As part of this project, Barclays is establishing a global shared services hub in Glasgow to support the activity of its investment banking and wealth management divisions and should take… Continue

Added by Rakesh Sangani on September 9, 2010 at 6:30am — No Comments

UK Financial Services to save £8 billion through cost saving methods

BearingPoint research in financial services has stated that nearly 80% of large companies that have looked to introduce and optimise SSC models have realised cost savings of over 20%. As a result they recoup the initial set-up costs within three years.



According to BearingPoint’s calculations, moving beyond the traditional SSC and looking to optimise their models, would enable the top UK financial services organisations save around £3 billion in staff costs, £1 billion in… Continue

Added by Rakesh Sangani on September 7, 2010 at 6:30am — No Comments

TCS arm acquires UK-based Unisys Corp.’s insurance unit for £250 million

Diligenta, a UK based subsidiary of TCS, has acquired Unisys Insurance Services (UISL) from Unisys Corporation for an undisclosed amount, in lieu of which the company received business worth $385 million for the next six years. With the acquisition, Diligenta won business from Phoenix Group (earlier know as Pearl Group) and Old Mutual International. TCS will take over UISL's operations in Liverpool and Bournemouth.



Proservartner Point of… Continue

Added by Rakesh Sangani on September 6, 2010 at 6:00am — No Comments

Final Thought: Nigeria as an outsourcing location

A forum has been set up to bring together Nigerian Chief Executive Officers and NASSCOM (National Software and Services Companies of India) to discuss the growth of BPO in the country, and to empower Nigerian IT CEOs in collaboration with their international counterparts to tap into the huge potential for IT-BPO growth in Nigeria.



Nigeria is one of the “Next Eleven” countries, identified as having high potential to become one of the largest economies in the world in the 21st Century… Continue

Added by Rakesh Sangani on September 3, 2010 at 6:00am — No Comments

Mortgage finance industry’s electronic loan registry system awards Genpact 7 year deal

Genpact, a global leader in BPO, announced that it will provide mortgage services support and member-facing helpdesk services for MERS for an undisclosed fee. Genpact will perform services in the US for MERS, including managing the receipt, identification and delivery of mortgage-related correspondence on behalf of MERS 2,500 members while working to improve the quality and accuracy of the underlying business processes.


"In keeping with our mission, we are constantly looking at ways…
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Added by Rakesh Sangani on September 2, 2010 at 6:00am — No Comments

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