NIIT bags $10-M contract

Wednesday, 27 November 2002, 08:00 Hrs
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NIIT Ltd., one of India's leading software development and computer training companies, said Wednesday it had signed a $10-million deal with a British firm for providing business process outsourcing (BPO) services.

NEW DELHI: As part of the agreement, NIIT SmartServe, the BPO services arm of NIIT, will set up a "quality assurance" centre for Misys Independent Financial Advisory Services' (MIFAS) business processes, said an NIIT statement here.

BPO refers to delegating IT-enabled business process of a company to a third party who owns, administers and manages a wide range of processes such as human resources, finance and accounting, supply chain management and customer care.

NIIT SmartServe focuses on providing BPO services in the areas of insurance and financial services. It also provides support for remote learning services.

MIFAS is a leading supplier of research services to independent financial advisers in Britain.

"This is a substantial step towards our vision of delivering higher quality to the international financial advisers market," said Patrick Gale, chief executive officer of MIFAS.

"Our network members can be assured that the new quality centre will help to raise standards across the industry," he added.

The "quality assurance" centre will function at NIIT SmartServe's new 560-seat facility in Gurgaon, on the outskirts of New Delhi, said the statement.

"The $10 million order from Misys is a breakthrough not only for NIIT SmartServe but also for the industry as a whole," said R. Venkatesh Iyer, president of NIIT SmartServe.

"This is one of the first core processes to be migrated into India especially in the area of insurance".

The NIIT statement said the $10 million contract is one of a series of outsourcing projects by companies in Britain financial services industry looking to improve the quality of their processing by opening outsourcing centres in India.
Source: IANS

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