Phaneesh Murthy unveils IT services firm
Friday, 07 March 2003, 20:30 IST
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BANGALORE: After business process outsourcing and re-engineering comes business services provisioning from an Indian services company, promoted, among others, by controversial former Infosys Technologies director Phaneesh Murthy. Quintant Services Limited is offering a process that would streamline the customers' processes and provide what Murthy describes as "a much quicker, much better and cost-effective end result". BPO companies currently adopt the same processes that the customer firm has and provide the end result. "The GMR-Quintant combination provides an extra ordinary combination of business intelligence, domain expertise, technology and capital," Murthy said. Quintant's focus is on the banking and insurance sector. Its other promoters include G. Mallikarjuna Rao, chairman of the GMR Group and Ing-Vysya Bank, Luke Helms, former Bank of America vice chairman and Inder Singh, former CIO of Visa International. The company has already secured what is described as the highest first time investment in a service company in recent times. It has secured a funding of $29.8 million. Murthy said Primentor, the consultancy firm he launched, were advisors to Quintant. Quintant is derived from a Latin word 'quidni', which means why not. Murthy shot to fame after taking Infosys Technologies' sales to a new high during the peak of the global slowdown before being slapped with a sexual harassment case in the U.S. by one of his colleagues. "It's going to be an ongoing sustainable cost reduction for customers and not a one off thing," said Quintant president T.G.R. Ramesh.
Source: IANS
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