Capgemini to give enhanced data conversion to financial firms
Wednesday, 21 May 2008, 19:30 IST
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Mumbai: Capgemini, a provider of consulting, technology and outsourcing services, has announced an asset purchase agreement with Advantage Consulting Group, a specialist in data conversion for the insurance industry. Capgemini is now able to offer financial services clients a more robust suite of flexible, low-risk and cost-effective conversion solutions for consolidating and implementing new information technology (IT) systems. "The deal with Advantage demonstrates Capgemini's continued commitment to its financial services business," said Raymond Spencer, CEO of Capgemini's Financial Services Strategic Business Unit. "The addition of Advantage's tools, senior staff and depth of experience will give us a clear differentiator in the sector that not only enhances our ability to service existing insurance clients, but also enables us to expand into other industries, including banking, capital markets and cards." John Barr, vice president and leader of the Life, Health, and Annuity Portfolio at Capgemini, said "This niche service will be delivered by our 25 person team through Capgemini's Rightshore capabilities - a global network of onsite, onshore, nearshore and offshore resources - giving our clients the tools and services needed to effectively convert data." "Consolidating and implementing new IT systems can be one of the most expensive and risky projects for any type of business," said Richard Knutson of Advantage Consulting Group, "Our conversion method, customized for each project, verifies that the correct data is properly loaded into new systems, enabling our clients to focus on their core business, without worrying about data loss."
Source: IANS
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