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NetScribes finalising plans for another centre `Financial research outsourcing set to grow faster'

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The Chief Executive Officer of NetScribes, Mr Sourav Mukherjee.
The Chief Executive Officer of NetScribes, Mr Sourav Mukherjee.

V. Rishi Kumar

Hyderabad, Dec. 15

FINANCIAL research encompassing equity, debt, financial markets, including due diligence process for mergers and acquisitions that comes under the domain of broader knowledge process outsourcing, is poised for rapid growth, according to findings of various independent research firms.

Though the projections vary from one researcher to another in terms of the market size, it is a multi-billion dollar opportunity where Indian companies are making it big.

The inherent advantage Indian financial professionals have and the technology expertise available in the country form a formidable winning combination for global financial and research firms, according to the Chief Executive Officer of NetScribes, Mr Sourav Mukherjee.

Speaking to Business Line, Mr Mukherjee, who heads a team of about 200 highly skilled chartered accountants, business management grads and engineers, said it was all about brains and not a number game. "Therefore, when we grow, we don't talk about growing in hundreds."

"Often, this type of work is broadly classified under the knowledge process outsourcing, but it has less to do with process as seen in the conventional mould. It is about technology, building intelligence into the data we gather and providing analytical solutions that help companies take right decisions," Mr Mukherjee said.

"Two of the top 10 private equity/hedge funds in the world, one of the top 10 investment banks, Europe's leading power utility provider, one of the top five information database vendors in the world, partner us for equity research. The best part is, as more and more global corporations get to see India seriously from investment perspective and to tap the business potential here, we see India offering immense scope for growth," he explained.

NetScribes was founded in 2000 when hardly anybody ever thought about knowledge process as an independent business opportunity. In fact, it is no coincidence that eValueServe and iRevna were formed in 2000. And many more companies are now foraying into similar areas.

"Having grown by about 100 per cent year-on-year, we are now at about 200 people and expect to continue to grow further. But since this is not a number game like IT services or BPO, the growth in numbers would be extremely selective," he said.

"We are in the process of finalising plans for one more centre in India. This could be Chennai, Kolkata or even Pune, but this is based on the availability of chartered accountants and business managers rather than pure cost considerations. The company is aggressively eyeing the European and Canadian markets for further expansion," he said.

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(This article was published in the Business Line print edition dated December 16, 2005)
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