Treasury Services

Citi Deal Delivers $505Mn Worth of BPO to TCS in India

Tata Consultancy Services (TCS) has acquired a 96.3 percent stake of Citigroup Global Services Ltd (CGSL), the back-office operations of Citigroup in India, for $505 million. With the transaction, which is expected to be completed by the end of this year, TCS will become the second largest BPO services provider across the globe. The transaction is subject to customary approvals.

Read more »

HOV Services Taps Global F&A Talent Pool With 1,800-Seat Xi’an Facility in China

HOV Services which provides business process and knowledge process outsourcing solutions, has launched a new delivery center in Xi’an, located in Shaanxi Province, China. The facility is integrated into HOVS’ scalable and secure global delivery platform and meets the most stringent standards and government regulations.  

Read more »

The Global Top 50 Destinations of Outsourcing Are Revealed

A recent study published by Tholons and Global Services announced the top 50 emerging outsourcing cities of the world in 2008. China was leading with six cities on the list, followed by India and the Philippines with four cities each. The list reveals India losing its position in the outsourcing industry to competitors including China and the Philippines. As per 2007 rankings, India was leading with six cities in the top 50 list. Cebu has been recognized as the leading emerging destination for outsourcing in 2008 as compared to Chennai in 2007.

Read more »

IBM Builds Latin American Presence with Three New Global Delivery Centers in Argentina

IBM has expanded operations in Argentina by establishing three global delivery centers (GDCs) in the country. The company will invest $60 million over the next 10 years for the development of the GDCs. The investment is in addition to the $200-million initiative of the company pertaining to establishing delivery centers in Spanish-speaking South American countries: Argentina, Bolivia, Chile, Colombia, Paraguay, Peru, Ecuador, Uruguay, and Venezuela.

Read more »

Genpact Q2 Revenues Up 26% Over Same Period a Year Ago

Genpact has enjoyed a very good second quarter this year, with revenues for Q2 2008 up 26 percent compared with the same period last year.
Other key financial results included:
 
•         Net income was $24.8 million, up 250 percent from $7.1 million in the second quarter of 2007; net income margin for the second quarter of 2008 was 9.8 percent, up from 3.5 percent in the second quarter of 2007.
 

Read more »

FAO Olympics

Letter from our CEO

Read more »

Celebrating the Best in FAO

FAO Today fêtes the outstanding practitioners, advisors, and providers of the past year.

Read more »

Scaling the Summit of FAO

Highlights of the FAO Summit 2008 include success stories, provider panels, and advice on standards and practices.

Read more »

Till Death Do Us Part

Put the right commercial model in place to support a long-lasting relationship.

Read more »

NelsonHall: Global BPO Market Forecast is Upbeat, but North America Stands Poised on a Knife's Edge

NelsonHall's recently released study, "Global BPO Market Forecast: 2008–2012," predicts sunny days ahead for the global BPO market. The survey said global BPO is expected to generate $450 billion in revenues by 2012. As supplier capability continues to mature, the growth of the BPO market is being augmented by economic slowdown in the U.S., which puts more pressure on outsourcers across all sectors to evaluate their efficiency in mature markets, according to NelsonHall.

Read more »