TCS BPO eyes new deals to hit annual growth target

Tata Consultancy Services' business process outsourcing unit is considering an expansion of its centers as it targets deals worth up to $50 million in banking, financial services and insurance.

In the coming year, TCS BPO is targeting to increase its workforce by 1,000 to 1,200 according to its vice-president and global head of BPO Services Abid Ali Neemuchwala in an interview with Business Standard.

He added that the targeted deals together with its continuous BPO services would facilitate their objective of reaching a projected $3 billion from a 40- to 50-percent compounded annual growth rate in the next five years. In 2008, TCS BPO earned $415 million in revenue.

Meanwhile, the TCS executive also said that their BPO services could be made available to more than 300 of its IT customers. He also mentioned that the acquisition of Citigroup Global Services Ltd (CGSL) gives them the foundation for new services that competitors do not have. The company has signed six clients within one year of its acquisition of CGSL.

Neemuchwala also revealed that they are close to inking a deal in the pharmaceutical industry. He said that 30 percent of the deals they are negotiating have a bundled component as clients are attempting to consolidate IT and BPO vendors.