| WNS, Reliance Comfort, Vertex, EDS, HP, HR XCEL |
| Written by The ValueNotes Team | |
| Wednesday, 17 September 2008 | |
|
EBI LLC awards healthcare management contract to WNS EBI LLC, a subsidiary of Biomet Inc.,has selected WNS for a 5-year healthcare revenue cycle management contract. As part of the contract, WNS will offer analytics services to improve delivery and operational efficiency. It will streamline processes to optimize collections and order processes. Reliance Comfort extends CIS outsourcing contract to Vertex Reliance Comfort has extended its CIS billing system outsourcing contract with Vertex till 2014. As part of the extended contract, Vertex will host the Enlogix customer billing system and provide application management and remittance processing services. The US Financial Market crisis to affect Indian outsourcing The Lehman Brothers bankruptcy and acquisition of Merrill Lynch will affect the contracts outsourced to the Indian IT firms including TCS, Satyam, Wipro Technologies, Satyam, and HCL Technologies. Lehman's captive operations in Mumbai offering financial process outsourcing services will be closed down and its employees terminated. Merrill operations in Hyderabad may either be consolidated or closed by The Bank of America. Post- merger with EDS, HP will layoff 25,000 employees globally After acquiring EDS, HP has planned a cost cutting strategy to be completed by 2011. The company plans to reduce the headcount by 25,000 and estimates $1.8 b in annual cost savings. Brown-Forman awards a multi year HRO contract to HR XCEL Kentucky-based manufacturer of Wines and Spirits, Brown-Forman has signed HR XCEL for a million dollar Benefits Administration outsourcing contract. HR XCEL will provide its technology and service delivery model to hire employees for Brown-Forman in the US. |
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