Rakesh Sangani's Blog (40)

Genpact to double India headcount

Global BPO player, Genpact, plans to double its India headcount in the next 25 months. The company currently has slightly less than 3,000 people in India and plans to increase this to 6,000 by the end of 2012. "We are looking at talent acquisition to enter into Tier-II and -III cities and for this, we will double the headcount for the India business," said Harpreet Duggal, who heads Genpact's India initiative that focuses on the domestic market.…


Added by Rakesh Sangani on November 24, 2010 at 2:30pm — No Comments

Thomson Reuters acquire Pangea3

The $13-billion financial news and business information provider, Thomson Reuters, is gearing up to get a piece of the fast-growing Legal Process Outsourcing market with the acquisition of Pangea3. The LPO industry, a sub sector of the Knowledge Process Outsourcing (KPO) industry, is growing at more than 20 per cent annually and projected to exceed $1 billion this year.…


Added by Rakesh Sangani on November 23, 2010 at 2:30pm — No Comments

Shared Services and Outsourcing in the NHS

Being a former Non Executive at a NHS Trust, I have some understanding of the political challenges, culture and attitudes within the NHS. Within the UK public sector, it is important to note that the most notable offshore outsourcing transaction is the Department of Health – Steria joint venture offering HR and Finance services to NHS entities. The take up has been better than any other offshoring venture within the public sector.…


Added by Rakesh Sangani on November 22, 2010 at 2:49pm — No Comments

KF awards Accenture 6 year F&A Deal

Accenture has signed a six-year BPO agreement with KF Shared Services AB – The Swedish Cooperative Union, to provide the KF Group and its subsidiaries with Finance and Accounting (F&A) services. The agreement is designed to streamline KF’s F&A processes, while improving cost effectiveness and service delivery. Under the terms of the agreement Accenture will manage KF’s accounts payable, accounts receivable and record-to-report processes.…


Added by Rakesh Sangani on November 22, 2010 at 2:00pm — No Comments

What is the story with Procurement BPO?

Recent IDC research estimated that Procurement BPO services revenue will grow from $2.7 billion in 2010 to $4.2 billion in 2014, with Everest predicting in early 2010 that the market would grow 25% over the year. In the last 12 months we have seen two high profile acquisitions, with Accenture acquiring the BPO assets of Ariba for $51 million to strengthen their position in leading the Procurement BPO… Continue

Added by Rakesh Sangani on November 22, 2010 at 1:30pm — No Comments

Accenture to hire 5,000 in the Philippines

Global technology, consultancy and outsourcing company, Accenture has stated that it aims to hire 5,000 more people in the next 9 months in the Philippines. During a press conference, Bill Green, Accenture chairman and Chief Executive Officer, said that the company will increase its workforce to 25,000 by end-August next year, the end of its current fiscal year 2011.

Accenture Philippines also inaugurated three additional sites: one each at McKinley Hill in Taguig City, Eastwood in Quezon… Continue

Added by Rakesh Sangani on November 21, 2010 at 1:30pm — No Comments

UK Councils sign £2m a year deal

Leicestershire County Council and Nottingham City Council have signed an innovative partnership that will pool administrative functions, including human resources, payroll and finance services, in the first step of a new East Midlands Shared Services centre, which could attract other authorities.

Leicestershire County Council leader David Parsons said: In these challenging times, our innovative agreement shows how authorities can achieve real savings by working together. “Every pound we… Continue

Added by Rakesh Sangani on November 20, 2010 at 1:00pm — No Comments

EXL 3rd Quarter Net Income up 95%

Global BPO firm ExlService Holdings posted a 95 per cent jump in net income at USD 7.8 million for the third-quarter ended September 2010. This is against net income of USD 4 million for the same quarter last fiscal. The Nasdaq-listed firm has now increased its revenue guidance for the year 2010 to about USD 247 million.

"EXL experienced a record quarter of growth driven by a significant number of new process migrations in outsourcing services and exceptionally strong demand for… Continue

Added by Rakesh Sangani on November 19, 2010 at 1:00pm — No Comments

Final Thought: One million jobs lost by public sector cuts

According to recent research by PwC, almost one million UK jobs will be lost by government public spending cuts. The total job losses amount to around 3.4% of total employment in the UK and around 943,000 jobs in absolute terms in the next three years.…


Added by Rakesh Sangani on October 25, 2010 at 10:30am — No Comments

ACS (Xerox) acquires TMS Health

Affiliated Computer Systems, a Xerox company, became one of the largest providers in the US of customer care services to the pharmaceutical, biotech and healthcare industries with the acquisition of TMS Health from private equity firm Palm Beach Capital.…


Added by Rakesh Sangani on October 24, 2010 at 10:30am — No Comments

Uttlesford and Harlow district councils to debate formation of new shared services partnership

The formation of a shared service partnership which has the potential to save Harlow and Uttlesford Council taxpayers hundreds of thousands of pounds a year has moved a step closer. Both Harlow and Uttlesford District Councils are recommending that in principle a joint partnership for the administration of Council Tax, Business…


Added by Rakesh Sangani on October 23, 2010 at 10:30am — No Comments

WNS bags back-office deal from Mashreq

In one of the first offshoring deals in the Middle East, global IT and BPO provider, WNS, has secured a back-office contract from Mashreq, one of the largest banks in the United Arab Emirates.

Technology deals from West Asia and Asia-Pacific are becoming important for the $60-billion Indian IT-BPO industry as it tries to hedge against a slow recovery…


Added by Rakesh Sangani on October 22, 2010 at 10:32am — No Comments

Final Thought: Shared Services in Ireland

According to recent research released by the Ireland Development Agency (IDA) there are currently 140 shared service centres (providing technical support, finance and accounting, human resources and payroll functions) that exist in the country, and employing 35,000 staff. The Chief Executive of IDA in Ireland (Barry O’Leary) stated that the sophistication of the centres had increased significantly in the last 20 years.

Shared Services is a mature initiative in Ireland, with a number…

Added by Rakesh Sangani on October 2, 2010 at 1:00pm — No Comments

US stops BPO training in Lanka

The US Agency for International Development (USAID) that provides humanitarian and economic aid worldwide has suspended the training of 3,000 youth from war-ravaged northern Lankan districts in outsourcing skills, to ensure that the new jobs created in Sri Lanka will not take away employment opportunities from Americans.

“The programme has been suspended and is being reviewed,” stated Glen Davis, US embassy spokesperson in Columbo. Although Davis did not say why the programme… Continue

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

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…


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…


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…


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.…


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

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