neoIT opens Philippines office

By siliconindia staff writer   |   Tuesday, 13 January 2004, 20:30 IST
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BANGALORE: neoIT, offshore outsourcing advisory and management firm, has announced a JV with Argosy Holdings in a move to build its advisory and management services in the Philippines. The Manila-based consulting and advisory operation will be in place by end January 2004. The JV will be known as neoIT Philippines. According to the company release, as Philippine companies continue to win a larger share of the outsourcing contracts, neoIT anticipates US and other leading offshore outsourcing buyer markets to look closely at the outsourcing services available in the Philippines. The release further states that neoIT is a buyer-centric advisory firm and does not represent any suppliers, thereby ensuring impartiality in assisting clients with global market and supplier decisions. The JV with Argosy Holdings will support this "buyer centric, supplier neutral" philosophy, and will provide advisory and management services on behalf of neoIT's clients. neoIT Philippines will provide a local market presence and a strong understanding of the local business environment. "The establishment of a JV with Argosy Holdings gives us a major jumpstart in the Philippines outsourcing market, which is set to take off in 2004", said neoIT CEO Atul Vashistha. "By partnering with Argosy Holdings we've selected a JV partner that has the advantage of in-depth market knowledge and excellent relationships with key government and industry leaders," he added. "We're pleased that neoIT selected Argosy Holdings to be its JV partner," stated Vice-Chairman of Argosy Holdings Alfonso S Yuchengco III. "Our knowledge of the market and local relationships will meet the needs of outsourcing buyers who want 'feet on the street' know-how," he added. (Source: CIOL)

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