U.S.-based i-Vantage expanding India operations

Tuesday, 11 November 2003, 20:30 IST
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HYDERABAD: U.S.-based i-Vantage Inc, a global delivery and management set-up service provider, Tuesday said it would invest $3 million by 2005 to expand operations in India. Amit Maheshwari, the i-Vantage president and CEO, will double the capacity of its Hyderabad-based Global InServe (GI) model to 150 seats, move to a new facility of 8,000 square feet, increase its employee base to 75 and manage a multinational company employee base of 200 by the end of current year with an investment of $250,000. The company plans to have two more GI centres in the country with 300 seats in each. The number of i-Vantage India employees will go up to 150. The firm helps companies achieve cost-reduction advantages associated with both building offshore subsidiaries and offshore outsourcing with Global InServe model. "This offering allows companies to own an offshore subsidiary/cost-centre without the traditional hassles associated with deploying and running an offshore operation. "The cost advantages are significant, reducing operational costs up to 50 percent as compared to an onshore alternative," said Maheswari. i-Vantage Inc is part of a $50 million group and offers Global Delivery Centre (GDC) set-up and management services that allow U.S and European companies to establish their own low cost development and business process outsourcing operations in emerging places such as India. "These companies don't want to take risks while setting up GDCs and this is where we offer the Golibal InServe model with turnkey GDC creation, human resources management, procurement, finance and regulatory services," he said. The company, which earns a net profit of 30 to 40 percent, also plans to raise another $2 million for sales and marketing.
Source: IANS
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