Financial Daily from THE HINDU group of publications
Friday, Jan 11, 2002
Financial Daily from THE HINDU group of publications Friday, Jan 11, 2002 |
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Info-Tech
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Software Corporate - Alliances & Joint Ventures Exult Inc deal with Hexaware, HCL Our Bureau
BANGALORE: In what probably might be the biggest deal so far in the IT outsourcing business, Exult Inc, a market leader in HR business process outsourcing has selected two providers, Hexaware and HCL Technologies as providers of application support and maintenance services. According to industry sources, the deal is worth around $350 million over five years, though the company did not disclose the amount. This would make it a significantly larger deal than the one signed by Wipro for the Lattice group. Exult struck the deal through neoIT, using its Global Services Network to sign up the two providers in India. NeoIT also provides services value chain automation (SVCA) and technology, which is "designed to assist companies such as Exult in managing the outsourcing process," according to neoIT. Exult will use SVCA to streamline management and oversee the delivery of these contracts. The IT industry has been expecting larger outsourcing orders from the US in the aftermath of the slowdown and the Sept 11 attacks. Exult Inc, headquartered in California, focuses on HR business process outsourcing and counts Fortune 500 companies among its clients. It uses its HR process expertise it help companies enhance human capital productivity, reduce HR costs, streamline processes and provide superior HR services to employees.
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