Outsourcing Market Reaches EUR 58Bn Worldwide
Research
According to new research by silicon.com, the
total value of major outsourcing contracts rose to EUR 58 billion
worldwide in 2004. Research also suggests that although of the total
deals, 67 percent covered IT outsourcing, the total proportion of
contracts worth over EUR 40 million made up by BPO deals has doubled since
2003.
The research also shows that the growth can be
attributed to European companies increasingly turning to BPO and IT
outsourcers. European firms awarded EUR 28 billion worth of contracts in
2004, almost doubling what they spent in 2002.
The findings also reveal that Europe has
surpassed the US and the Asia-Pacific region as the biggest outsourcing
spender. Of all outsourcing deals worth EUR 40 million or more, 49 percent
were awarded by European firms, 44 percent were awarded by the US and Asia
Pacific awarded mere seven percent.
According to the research, the six major
outsourcing providers - IBM, CSC, EDS, Accenture, ACS and HP - have
witnessed a decline in the share of big contracts. The six providers
managed to grab 44 percent of larger contracts in 2004, as compared to 71
percent the year before. In IT outsourcing, the market share of the six
providers dropped by 51 percent year on year, while in BPO, the drop
recorded was 42 percent.
Further, the companies emerging as the favored European outsourcing providers include Capgemini and Siemens.
In
the News
EDS to buy Towers Perrin outsourcing
unit
Electronic Data Systems Corp. agreed to pay about $420
million for the human resources outsourcing unit of Towers Perrin, a
closely held consulting group
Aussies to outsource 50,000 bank jobs to
India
Banks in
Australia have reportedly activated an aggressive process, which could
eventually see them outsourcing about 50,000 jobs to India.
CSC Wins $280 Million Contract to Support United States
Patent and Trademark Office
Computer
Sciences Corporation announced today that it has won a systems development
and integration contract to provide services to the U.S. Patent and
Trademark Office (USPTO)
Norwich
Union and IBM in business consulting deal
IBM has won a $100m, two and a half year contract with
Norwich Union that will see the IT giant provide a business consulting
service to the UK life insurer.
The Bank of New York, a global leader in securities servicing, has signed a letter of intent with ING Investment Management (Europe) BV (ING IM) to offer a middle office trade and processing outsourcing service for the Euro 67 billion asset base of ING IM's operations in the Hague.
Payment Data reaches new agreement with Central Bancard
Payment Data Systems Inc. has signed a multiyear agreement
with Central Bancard LLC to provide credit card authorization and
settlement services.
Symcor Inc. and Laurentian Bank of Canada sign $20 million processing services agreement
Symcor
Inc. and Laurentian Bank of Canada (LBC) announced they have signed a
10-year agreement for Symcor to provide image-based check processing
services across Canada
Service Provider
News
Convergys wins contract to run Optus call centres in India
India's emergence
as the outsourcing capital of the world has received another boost with
US-based technology major Convergys winning a four-year contract to run
the new Indian-based call centres of the Australia-based technology
conglomerate Optus.
Wipro profit surges 61% as prices rise
Wipro, India's third-biggest exporter of software services, has said that third-quarter profit rose 61 percent from a year earlier as it added clients and raised process.
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