BPO February 2011 News
- Forget the gloom Indian BPO brand rules, says NASSCOMThe National Association of Software & Services Companies has released the key findings of the Indian IT-BPO sector performance for FY 2010-11. The IT-BPO industry (excluding hardware) witnessed a quick rebound in growth and is estimated to grow by 19 percent, aggregating revenues of $ 76 billion this fiscal year.
- IT sector poised to top NASSCOM growth projection: RamadoraiThe multi-billion Indian IT sector is likely to grow higher than the projection given by the apex industry body NASSCOM, a top official said today."I think we should be able to see growth that is better than NASSCOM's projection," S Ramadorai, TCS Vice- Chairman and Advisor to the Prime Minister on Skill Development, told reporters at the NASSCOM meet here.
- Global IT spending surges in 2010The global IT market staged a healthy comeback last year, with expenditure on IT products and services rising 8 per cent from 2009 to more than USD 1.5 trillion, according to market research firm IDC's Worldwide Black Book report released on Wednesday.The market research firm's 2010 report indicated that the IT industry registered its fastest growth rate since 2007 during the year gone by.
- Amba Research ranks among top 3 KPOs in the worldInvestment services provider Amba Research on Wednesday said it has been ranked among the top 3 KPO (Knowledge Process Outsourcing) service providers across the globe, in the Datamonitor's annual Black Book of Outsourcing Survey for 2010.The company has also grabbed the highest slot among firms specialising in financial research, Amba Research said in a statement.
- Target Corp looking out for the millennial buyerFor India’s top technology firms chasing nearly $4-billion worth of outsourcing projects this year from some of the biggest retailers in the world, Beth Jacob, CIO of Target Corporation, has some valuable insights to offer.Target, which has a captive research centre in Bangalore — and has outsourced projects to Tata Consultancy Services , Infosys, Wipro and Accenture — is now preparing to tap the new generation of consumers: the millennial . And traditional, complex business softwares like ERP are not among the top priorities for Ms Jacob any more.
- IT, BPO export to grow 3-fold to $175-bn by 2020-end: NasscomWith a steady recovery in major markets such as the US and Europe, Indian IT and BPO export is likely to grow three-fold to USD 175 billion in revenue by end -this decade, apex software industry body Nasscom said today.However, in 2011, the IT industry will witness a flat growth at 18 percent. In 2010 revenues from software exports and BPO services stood at USD 59 billion, it said.
- India world’s best back officeIndia remains the favourite backoffice of the world thanks to its “first-mover advantage” and deep skill base, as per global management consulting firm AT Kearney's ranking of the best outsourcing destinations . The top three slots in AT Kearney's 2011 Global Services Location Index (GSLI) are occupied by three Asian countries: India, China and Malaysia.The three countries have enjoyed the top three rankings since the inception of the GLSI in 2003, demonstrating “remarkable staying power, thanks to their deep talent pools and cost advantages” .
- IT-BPO industry: How to reach $225 bn by 2020Building higher aspirations based on detailed analysis of global opportunities is important for companies and countries alike. The higher aspirations lead to creative thinking, development of new models and creating new markets rather than only serving existing ones. It is however important that the aspirational goals are backed by concerted actions, regular reviews and course correction.
- Aegis on acquisition spree, sans IndiaAfter 16 global takeovers, the Essar Group's BPO arm Aegis is still on the lookout for acquisitions in Africa and Europe to expand its global footprint, but will stay away from Indian companies."We will not do acquisition in India that is for sure. It doesn't make any sense because first of all, the assets are very heavily priced.
- Aegis to hire 11,000 people globally in FY12Aegis, the BPO arm of USD 15-billion Essar Group , today said it plans to add about 11,000 people globally, including India , during the financial year 2011-12.Aegis has more than 50,000 employees across 11 countries. "Globally, we should add 11,000 people by March 2012," Aegis MD and Global CEO Aparup Sengupta said here.
- IT-BPO sector will grow by 19% in current fiscal, says NasscomBuoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to have grown 19% in 2010-11 to $76 billion in revenues, softwareindustry lobby Nasscom said on Wednesday.“Pent-up demand for IT-BPO services and return of discretionary spending in the market were the key drivers for the industry performance,” Nasscom president Som Mittal told reporters.
- IT-BPO industry crosses $76 bn revenue in FY11: NasscomBuoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to have grown 19 per cent in 2010-11 to USD 76 billion in revenues, software industry body Nasscom today said."Pent-up demand for IT-BPO services and return of discretionary spending in the market were the key drivers for the industry performance," Nasscom President Som Mittal told reporters here.
- Connecticut introduces bill to prevent law firms from offshoring work to IndiaThe US state of Connecticut has introduced a bill designed to prevent law firms and corporates from offshoring the drafting, reviewing and analysing of legal documents to workers overseas. This could impact the legal process outsourcing (LPO) sector in India. LPO players are also worried that other US states may pick up the cue from Connecticut.
