Financial Daily from THE HINDU group of publications
Wednesday, Oct 01, 2003
Financial Daily from THE HINDU group of publications Wednesday, Oct 01, 2003 |
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Info-Tech
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Outsourcing Nirvana sets up BPO unit; gets $6 m more funding Our Bureau
Bangalore , Sept. 30 NIRVANA Business Solutions has set up a 300-people business process outsourcing operation in Bangalore and announced that it has received additional funding commitments for $6 million from the existing and new investors. According to Raj Konduri, Chairman and CEO, NBS would provide finance and accounting, transaction support and customer care solutions from its Indian facilities, and deliver quality improvements at costs that could be 50 per cent lower than in the US or Europe. Investors include Mr Rajat Gupta, former MD, McKinsey and Co, Mr Victor Menezes, Sr Vice-Chairman, Citigroup, Mr Rana Talwar, former CEO, Standard Chartered Bank, Mr Richard Fisher, former Chairman, Morgan Stanley, among others. Nirvana expects to garner revenues of $30 million in 2004. Nirvana also announced the induction of Mr Charles Haven as President, BD and Tech Support operations, "We are in a position to deliver global best practices at offshore prices and our goal is to be a global BPO player with strong Indian roots," Mr Konduri said. Nirvana has a disciplined process-driven approach utilising proprietary tools and methodologies designed to provide consistently superior solutions, according to Mr Konduri. "We use six-sigma tools and bring a relentless commitment to quality to deliver process improvements that can transform productivity and business metrics, he said. Nirvana is focussed on providing world-class service while leveraging the advantages of delivering support from India, Mr Charles Haven said. "This is not just about labour arbitrage; Nirvana will change the dynamics of the BPO market," he said.
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