Financial Daily from THE HINDU group of publications
Tuesday, Aug 02, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
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Info-Tech
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Outsourcing MphasiS BPO bags multi-year SBI order? — Brisk hiring of people with local language skills Vishwanath Kulkarni
Bangalore , Aug 1 MPHASIS BPO, formerly MsourcE, has forayed into the domestic business process outsourcing market with a bang. The company recently bagged a major multi-crore, multi-year order from State Bank of India, sources said. The SBI deal size could be close to Rs 250 crore, sources said adding that it involved handling customer support operations, predominantly the voice-based inbound services. However, an MphasiS spokesperson neither denied nor confirmed the new win. MphasiS BPO has been hiring people with local language skills aggressively in the last several weeks to service new client wins such as SBI. Call centre training firms such as NIIT's Planetworkz and Hero Mindmine, a division of Hero Corporate Services Ltd, among others are aggressively hiring people for MphasiS BPO. MphasiS BPO, which hitherto catered to the global firms, has been contemplating to tap the domestic market for some time now. The Chairman and CEO of MphasiS, Mr Jerry Rao, had told analysts at the post-Q4 earnings call that the domestic BPO market would be good for the company to get into. "The gross margins may not be as high as in the international business; very soon we believe net margins will get as good. The entry level pricing remains a little bit more aggressive, but over a two-year period as we add new clients, we believe we will take the net margins of Indian business also close to the international levels," Mr Rao had said then. According to the National Association of Software and Services Companies (Nasscom), the domestic market for ITES-BPO also witnessed a 100 per cent growth in 2004-05 as local companies outsourced more work. Nasscom said the domestic BPO market grew to $600 million in 2004-05 as compared to $300 million in the previous year. The key drivers of growth in domestic demand for ITES-BPO include the high degree of competition in the telecom and BFSI verticals, with companies laying increased emphasis on customer fulfilment and other customer relationship management activities.
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