Posts Tagged ‘BPO’

BPO firm puts up IT park in Bataan

December 17th, 2014

Business process outsourcing firm Grand Innovasia Concept Corp. (GICC) is setting up the first IT Techno Park at the Freeport Area of Bataan, which will serve as the company’s operations hub in the country.Outsourcing26

GICC’s planned complex will serve as the company’s main operation center for BPO online and interactive gaming activities in the country. It will also house other locators with provision for business and commercial spaces, the Authority of Freeport Area of Bataan (Afab) said in a statement.

GICC held a groundbreaking ceremony Monday for the facility which would be built on a three hectare land inside the Freeport.

GICC is a currently engaged in recreation, leisure resort, games and amusement center, particularly online and interactive gaming, computer games and other related recreational activities. It is also recognized as a master licensor and regulator of interactive gaming for international market.

The project of GICC is one of those that were approved this year by the Afab, which recently authorized the company to regulate and issue licenses to international gaming operators to operate their gaming businesses.

As of the end of October this year, investment pledges approved by Afab surged to P84 billion, from P2.2 billion a year ago.

The investment commitments came from 17 new business projects, including a business process outsourcing (BPO) facility and information technology related firms; a footwear manufacturing company; a distillery business, and a bulk terminal operation.

Source: http://business.inquirer.net/183616/bpo-firm-puts-up-it-park-in-bataan

BPOs, IT are top employers in Philippines

December 9th, 2014

Business process outsourcing and information technology continue to be the Philippines’ biggest employers and a lawmaker even cited the country’s 45 largest business process outsourcing providers and the back offices of global firms for driving the creation of new high-paying jobs.Outsourcing19

Rep. Roman Romulo, chairman of the House committee on higher and technical education, said: “These leading players in the BPO and information technology (IT)-enabled services sector are now among the nation’s biggest employers. They have helped to ease joblessness among fresh college graduates and young professionals in a big way.”

He said he is counting on the 45 firms to spearhead the production of more than 248,000 new jobs in the sector over the next two years. Based on their combined revenues of P250 billion in 2013, Romulo named the top 45 firms as follows: Accenture Inc.; Convergys Philippines Services Corp. ; 24/7 Customer Philippines Inc.; JPMorgan Chase Bank N.A.-Philippine Global Service Center ; Telephilippines Inc. .

Sutherland Global Services Philippines Inc.; Hewlett-Packard AP (Hong Kong) Ltd.; Stream International Global Services Philippines Inc.; Teletech Offshore Investments B.V. ; IBM Daksh Business Process Services Philippines Inc. .

And Sitel Philippines Corp.; TeleTech Customer Care Management Philippines Inc.; Manila-Oslo Renewable Enterprise Inc. ; IBM Business Services Inc.; Aegis PeopleSupport Inc.; Coca-Cola Far East Ltd.; Sykes Asia Inc.; Shell Shared Services (Asia) B.V.; Deutsche Knowledge Services Pte. Ltd.; HSBC Electronic Data Processing (Philippines) Inc..

Telus International Philippines Inc.; Luen Thai Macao Commercial Offshore Co. Ltd.; IBM Solutions Delivery Inc.; VXI Global Holdings B.V. Philippines ; Macquarie Offshore Services Pty. Ltd..

And also ACS of the Philippines Inc.; Citibank N.A. Regional Operating Headquarters; SPi CRM Inc.; Emerson Electric (Asia) Ltd.; Chevron Holdings Inc.; StarTek Philippines Inc.; Genpact Services LLC ; West Contact Services Inc.; Hinduja Global Solutions Ltd.; SPi Technologies Inc..

And ANZ Global Services and Operations Manila Inc.; Sykes Marketing Services Inc.; Maersk Global Service Centres (Philippines) Ltd. ; Manulife Data Services Inc.; Lexmark Research & Development Corp.; ExlService Philippines Inc.; Cognizant Technology Solutions Philippines Inc.; Thomson Reuters Corp. Pte. Ltd.; Citigroup Business Process Solutions Pte. Ltd.; and Acquire Asia Pacific Philippines Inc..

The law mandates all entities, including BPO firms, to protect the confidentiality of personal information collected from clients and stored in IT systems, in accordance with rigorous international privacy standards.

The BPO and IT-enabled services industry now directly employs 1.052 million Filipinos. The sector includes contact center services; back offices; medical, legal and other data transcription; animation; software development; engineering design; and digital content.

The industry is projected to yield up to $27 billion in annual revenues and engage over 1.3 million Filipinos workers by 2016, according to the IT and Business Processing Association of the Philippines, which has 229 member firms.

Source:http://www.mindanaoexaminer.com/news.php?news_id=20141208074901

BPO firms cited for creating more jobs

December 8th, 2014

Pasig City Rep. Roman Romulo, chair of the House committee on higher and technical education, has cited the country’s 45 largest business process outsourcing (BPO) providers and the back offices of global firms for driving the creation of new high-paying jobs.Outsourcing17

“These leading players in the BPO and information technology … sector are now among the nation’s biggest employers,” said Romulo. “They have helped ease joblessness among fresh college graduates and young professionals in a big way.”

Romulo also said he is counting on the 45 firms to spearhead the generation of more than 248,000 new jobs in the sector over the next two years.

The BPO companies’ combined revenues reached P250 billion ($5.9 billion) in 2013.

Romulo is author of the Data Privacy Act of 2012, which has encouraged transnational firms to either establish new back offices in Manila, or to transfer their noncore, business support activities to independent BPO firms operating here.

The BPO and IT-enabled services industry now directly employs 1.052 million Filipinos.

The industry is projected to yield up to $27 billion in annual revenues and engage over 1.3 million Filipinos workers by 2016, according to the IT and Business Processing Association of the Philippines, which has 229 member firms.

Source:http://business.inquirer.net/183185/bpo-firms-cited-for-creating-more-jobs

Global Insurance Business Process Outsourcing (BPO) Market 2014-2018

December 4th, 2014

About Insurance BPO Insurance BPO is a sub-segment of the Banking, Financial Services, and Insurance (BFSI) BPO segment. BPO service providers support some of the leading financial institutions and custodians in the world. The value chain of the Insurance industry comprises of product Outsourcing12development, marketing, administration, asset management, and claims management. Insurance BPO is a segment of outsourcing, which consists of subcontracting the business processes of an organization to a third-party vendor that has expertise in the insurance domain. It can be defined as delegating one or more business activities to external companies (vendors), which, in turn, administer and manage the selected activity, based on defined and measurable performance criteria. It helps clients increase operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with latest technologies, and build an organization with an economical cost structure.

TechNavio’s analysts forecast the Global Insurance BPO market to grow at a CAGR of 5.19 percent over the period 2013-2018.

Covered in this Report
The Global Insurance BPO market can be segmented on the basis of BPO services into the following: Property and Casualty and Life and Pension. The report also discusses in detail the market spending across these two segments and key geographical regions in the market.

TechNavio’s report, the Global Insurance BPO Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also covers the Global Insurance BPO market landscape and its growth prospects in the coming years and also includes a discussion of the key vendors operating in this market.

Source:http://www.prnewswire.com/news-releases/global-insurance-business-process-outsourcing-bpo-market-2014-2018-300004085.html

Infosys gains on collaboration with Stanford Graduate School of Business

November 21st, 2014

Infosys rose 0.65% to Rs 4,207.10 at 09:49 IST on BSEafter the company announced collaboration with Stanford Graduate School of Business to create a comprehensive executive education program.Outsourcing8

The announcement was made after market hours on Wednesday, 19 November 2014.

Meanwhile, the BSE Sensex was down 24.31 points, or 0.09%, to 28,008.54

On BSE, so far 6,197 shares were traded in the counter, compared with an average volume of 72,222 shares in the past one quarter.

The stock saw initial volatility. The stock hit a high of Rs 4,215 and a low of Rs 4,182 so far during the day. The stock hit a record high of Rs 4,225 on Tuesday, 18 November 2014. The stock hit a 52-week low of Rs 2,894 on 30 May 2014.

The large-cap company has an equity capital of Rs 287.12 crore. Face value per share is Rs 5.

Infosys announced after market hours on Wednesday, 19 November 2014, that it will collaborate with Stanford Graduate School of Business (GSB) to create a comprehensive executive education program. As part of this agreement, Stanford GSB will team with senior Infosys executives to design and deliver a customized strategic leadership development program for the company’s executives, clients and partners. The executive education program will include a suite of business management skills, as well as courses in corporate innovation processes to help Infosys balance business discipline and entrepreneurial spirit. The office of Executive Education at Stanford GSB and Infosys will deliver the leadership program through in-person and online instruction, as well as live sessions enabled by distance-learning technology. The initiative will include 200 executives who will each participate in a part-time, year-long program in groups of 40 over three years. Executives will be able to test and apply their learning to real business challenges in parallel, the company said in a statement.

Infosys’ outsourcing unit Infosys BPO had on 18 November 2014, announced the separation of Abraham Mathews, its Chief Financial Officer from the services of the company for not complying with its code of conduct. This departure was in keeping with the company’s goal of setting the highest standards of corporate governance and adhering to the letter and spirit of the company’s code of conduct. Gautam Thakkar, the current Chief Executive Officer has submitted his resignation to the company effective 30 November 2014, taking responsibility on moral grounds and will be assisting Uppadhayay in this transition. Meanwhile, the company appointed Anup Uppadhayay as Chief Executive Officer and Managing Director of the company. The board of Infosys BPO also appointed Deepak Bhalla as Chief Financial Officer of the company.

Infosys’ consolidated net profit as per International Financial Reporting Standards (IFRS) rose 7.28% to Rs 3096 crore on 4.48% rise in revenue to Rs 13342 crore in Q2 September 2014 over Q1 June 2014.

Infosys is a global leader in consulting, technology and outsourcing solutions.

Source:http://www.business-standard.com/article/news-cm/infosys-gains-on-collaboration-with-stanford-graduate-school-of-business-114112000232_1.html

Infosys unit’s overbilling Apple led to exit of top executives: sources

November 21st, 2014

Indian outsourcing major Infosys Ltd’s back-office services unit was overcharging Apple Inc, leading to the exit of top executives, two senior Infosys people said on Thursday.Outsourcing6

Infosys, India’s second-largest IT services exporter, said on Tuesday it had fired Abraham Mathews, chief financial officer of its Infosys BPO unit, for failure to comply with the company’s code of conduct.

Infosys BPO chief executive officer Gautam Thakkar resigned on “moral grounds” and would leave the company on Nov. 30, Infosys said. It did not give details about the charges against Mathews.

Infosys spokeswoman Sarah Gideon said the company would not comment further on the confidential investigations.

“The financial irregularities are not material in nature and the company has already made required disclosures. The company has taken disciplinary action on employees,” she said in an email.

Apple did not immediately respond to an email sent outside business hours seeking comment.

The irregularities in Infosys BPO’s dealings with Apple came out during an internal audit, said one of the people at Infosys, who declined to be named as he was not authorized to speak to the media.

Though the audit showed that the financial impact of the wrongdoing on the company was minimal, Infosys decided to take a tough stance to demonstrate its “zero-tolerance policy for any improper conduct,” he said.

The Economic Times newspaper on Thursday said Infosys would soon fire at least six more employees at the unit, after investigations revealed that they had produced inflated invoices and allegedly overbilled Apple for many months.

Infosys earlier this year brought in Vishal Sikka as its new CEO to chart a new strategy for the company, once a trend-setter for India’s more than $100 billion IT outsourcing industry. Infosys has struggled in recent years to retain staff and market share.

Source:http://indiatoday.intoday.in/technology/story/infosys-units-overbilling-apple-led-to-exit-of-top-executives-sources/1/402812.html

Leading BPO Harnesses Slideshare to Present The 10 Best Reasons to Outsource Telecom Services

November 21st, 2014

Sound Telecom, a provider of call center services throughout the country with US-based agents, has released a presentation via Slideshare that outlines The 10 Best Reasons to Outsource Telecom Services. The slides touch on the varying functions a call center can exercise before delving into the most beneficial reasons for a business to outsource their telecommunications.Outsourcing7

While each of the ten reasons stands to make its own point, there are themes that grow clear as the viewer progresses through the presentation. Some of the most prevalent motives that would most likely intrigue businesses include gaining an advantage over the competition, being able to focus on core competencies, enhancing customer service, and cutting costs. When compared to keeping call center function of business in-house, the benefits of outsourcing become quite apparent.

According to the presentation, one of the most crucial elements for creating a successful telecom outsourcing program is the relationship between both parties. The author of the article that these slides are based on states, “Building client trust should be embedded in the culture of any top tier telecom business process outsourcer as they strive to fully understand the objectives of each client and develop a customized solution that will meet specific needs. To achieve that goal, they need to listen closely to clients throughout the entire life of the relationship.”

Slideshare was chosen to showcase this content because it presents it in a much more visually appealing format than a simple article. Since Slideshare’s founding in 2006, their goal has been to share knowledge online, and they have grown into what is now the largest presentation sharing community for professional content. Sound Telecom chose this platform to share their presentation based on the natural connection between this type of content and typical Slideshare users.

Source:http://www.broadwayworld.com/bwwgeeks/article/Leading-BPO-Harnesses-Slideshare-to-Present-The-10-Best-Reasons-to-Outsource-Telecom-Services-20141120#

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