| Firstsource, Pillar Administration, TCS, WNS, Aviva |
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FirstSource wins 5-year outsourcing deal from Barclays FirstSource Solutions has won a 5-year outsourcing contract worth $80 m from Barclays Plc. FirstSource will offer customer care and collections support for Barclays credit card operations in Colorado Springs, US. The deal involves transfer of around 300 employees to Firstsource. Pillar wins outsourcing contract from Aon Aon Consulting has outsourced superannuation management service to Pillar Administration. Aon will gain from Pillars' expertise in technology platforms. TCS to restructure global operations To improve revenues and remain customer centric, TCS plans to restructure its global operations. The company has formed a separate BPO unit. All three businesses - the new BPO unit, TCS Financial Solutions and the Small & Medium Business Solutions will function as separate operations. WNS delays transfer of Pune operations to Aviva WNS has used the option given by Aviva to extend the transfer of its Pune unit from 1 Jan 2008 to 1 April 2008. The notice period has been reduced to one month. If demanded by Aviva, WNS will have to transfer the unit on 1 May 2008. WNS reported yoy decline of 23.1% in net revenues WNS' net income for Q3 ending 31 Dec 2007 declined by 23.1% to $5.5 m from $7 m a year ago. Revenue went up by 13.4% yoy to $115.6 m. The decrease in net income is due to strengthening of rupee against the dollar. Related Items: |
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ValueNotes’ research indicates that the domestic BPO industry stands at an inflection point, with the growing scale of Indian buyers as well as the emergence of significant vendors with greater capabilities