It’s all looking up for the US this week. New figures show manufacturing activity is growing at its fastest pace since April 2011. Analysts have braced themselves for better than expected jobs data on Friday. Oh – and Indian IT outsourcing companies are funnelling money into the country. Continue reading »
Following on from Infosys and Tata Consultancy Services (TCS), HCL Technologies – the fourth largest of India’s IT services and outsourcing groups by sales – reported better that expected results on Thursday.
It seems spending on IT services is rising once again, suggesting that India’s outsourcing industry may be at a turning point. Continue reading »
Garment makers are set to stay in Bangladesh despite poor factory safety and worker unrest, according to a survey of 29 chief purchasing officers of some of the best-known European and US apparel manufacturers. But the level of commitment is falling. Continue reading »
In the past month, shares in Infosys have risen 21.1 per cent and Tata Consultancy Services has rallied 22.7 per cent. Meanwhile, shares in Wipro, India’s third largest IT company, have gained a relatively meagre 9.8 per cent.
The company’s results, out on Friday, followed positive figures from India’s other two IT giants. And comments from management suggest Wipro is ready to play catch-up. Continue reading »
Concerns around proposed reforms to US immigration laws have rocked India’s IT companies, which send employees to work on site with American clients.
But the president of Nasscom, India’s IT trade body, has said there’s little to worry about – the final legislation could actually benefit the Indian companies.
Continue reading »
In January, unexpectedly positive results from Infosys sent the company’s stock soaring and set the tone for a good run of quarterly earnings for India’s information technology sector.
One quarter later and Infosys has kicked off the full fiscal year earnings season with news that has sent its share price plunging right back to where it used to be. Is this, once again, a sign of what’s to come? Continue reading »
Despite the threat of fierce protectionism, challenging cultural barriers and major linguistic hurdles, the giants of Indian IT are looking to break into China’s previously closed software and outsourcing industry. Continue reading »
The great outsourcing story used to be from Europe to India (IT) and China (manufacturing). But now southeast Asian countries are the preferred destination, and not just for western companies. India and China are outsourcing to their Asean neighbours too.
That’s according to Adecco, the world’s largest provider of HR services, which says its clients increasingly want to hire in Indonesia, Vietnam and the Philippines. Continue reading »
The outsourcing sector may not be particularly glamorous – and the words “contact centre” may be loaded with associations of irritating unsolicited telephone calls – but it’s certainly a big earner for many emerging markets. India and the Philippines are two of the better-known outsourcing destinations.
Some eastern European countries have also found outsourcing niches for themselves, capitalising on their location, low overheads and a workforce of technically-able graduates. The business process outsourcing sector has become something of a success story for Bulgaria, where it employs around 15,000 people and generates revenues of €200m, according to the official Invest Bulgaria Agency. Continue reading »
The nondescript four and five-storey office buildings springing up on the outskirts of many Polish cities house one of the country’s biggest economic success stories – thousands of office workers hunched in front of computer terminals providing accounting, IT, human resources and other back office functions for a growing number of international companies.
But the boom – which has created about 90,000 jobs and made Poland the third most attractive back office location in the world after India and China, according to the Hackett Group consultancy – is in danger of coming to a rapid close. Continue reading »
By Graham Stack of of business new europe (bne)
Ukraine’s IT outsourcing sector has exploded over the last 10 years to top $1bn in 2011, capitalising on the strong science schools inherited from the Soviet Union.
Looking to the future, the sector has the potential to become a real force for Ukraine’s modernisation if it can meet some challenges. Continue reading »
In a widely expected move, Cognizant Technology Solutions – which is based in the US but operates mostly out of India – overtook Infosys as the IT industry’s second-biggest company by revenues, according to results for the quarter ended in June.
Analysts said such expectation-beating numbers have come to be, well, expected from Cognizant – to such an extent that when it merely meets expectations its stock falters – so there were few surprises contained in the results. Continue reading »
The podium can be an uncomfortable place.
Wipro, India’s third-largest IT company by market cap, followed rival Infosys in predicting gloom for the country’s outsourcing industry on Tuesday when it forecast muted revenue growth in the coming quarter. Continue reading »
G4S took a heavy blow in the UK this week, losing a £50m contract following its botching of Olympic security. With its reputation tarnished, worse may follow. However, even in the unlikely event that the UK government restricts the firm’s access to its proliferating outsourcing opportunities, G4S is much more than a UK company. Continue reading »