Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981. The concept, which The Economist says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process, operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support.
Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care software tailored to the communications, financial services, technology, retail, healthcare and government markets. Information management provided convergent billing and business support system (BSS) products and services including revenue management, product and order management, and customer care management to telecom, utilities, and cable/satellite/broadband service providers. They had approximately 130,000 employees across 33 countries.
Wolters Kluwer N.V. is a Dutch information services company. The company is headquartered in Alphen aan den Rijn, Netherlands (Global) and Philadelphia, United States (corporate). Wolters Kluwer in its current form was founded in 1987 with a merger between Kluwer Publishers and Wolters Samsom. The company serves legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare markets. It operates in over 150 countries.
Syntel, Inc., was a multinational provider of integrated technology and business services. The company was led by Rakesh Khanna. Atos Syntel was created by the acquisition of Syntel, Inc. by Atos S.E., which was announced on July 22, 2018, and completed on October 9, 2018. The subsidiary was later dissolved into Atos itself.
Affiliated Computer Services Inc. (ACS) was a company that provided information technology services as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. ACS was based in Dallas, Texas. ACS was ranked at number 341 on the 2010 Fortune 500 list. Founded in 1988, by Darwin Deason, ACS operated in nearly 100 countries, generating over $6 billion annually. As of September 2009, ACS employed approximately 74,000 people.
Visma is a privately held company headquartered in Oslo, Norway, that provides business software and information technology-related development and consultancy. The majority of the company is owned by HgCapital, a private equity firm.
One of the most dynamic and fastest growing sectors in the Philippines is the information technology–business process outsourcing (IT-BPO) industry. The industry is composed of eight sub-sectors, namely, knowledge process outsourcing and back offices, animation, call centers, software development, game development, engineering design, and medical transcription. The IT-BPO industry plays a major role in the country's growth and development.
Heartland Payment Systems, Inc. is a U.S.-based payment processing and technology provider. Founded in 1997, Heartland Payment Systems' last headquarters were in Princeton, New Jersey. An acquisition by Global Payments, expected to be worth $3.8 billion or $4.3 billion. was finalized on April 25, 2016.
EFD was an American payments services company. It provided financial service companies and other large enterprises with new account decisions, fraud detection and payment processing services. On June 27, 2007, Fidelity National Information Services, Inc. (FIS) announced that it was acquiring EFD in an all-cash transaction valued at about $1.8B. The target completion date for the acquisition was the 3rd quarter of 2007.
EXL Service is a global analytics and digital solutions company serving industries including insurance, healthcare, banking and financial services, media, retail, and others. The company is headquartered in New York and has more than 37,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.
A vendor management system (VMS) is an Internet-enabled, often Web-based application that acts as a mechanism for business to manage and procure staffing services – temporary, and, in some cases, permanent placement services – as well as outside contract or contingent labor. Typical features of a VMS application include order distribution, consolidated billing and significant enhancements in reporting capability that outperforms manual systems and processes.
Thomson Reuters Corporation is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre.
Apollo Global Management, Inc. is an American global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under management, including $372 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $80.7 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors. Since inception in 1990, private-equity funds managed by Apollo have produced a 24% internal rate of return (IRR) to investors, net of fees.
Stream Global Services, was a BPO company acquired by Convergys through a definitive merger, together with more than 37,000 employees in 22 countries and 50 contact centers. The footprint of the company included countries across North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
HOV Services is a publicly quoted business process outsourcing company that operates in North America with multiple locations in the U.S., and international headquarters in Chennai, India.
SumTotal Systems, Inc. is a software company based in Gainesville, Florida, that provides human resource management software and services to private and public sector organizations. The company uses multiple cloud-based channels, including software as a service (SaaS), hosted subscription, and premises-based licensure.
Banking business process outsourcing or banking BPO is a highly specialized sourcing strategy used by banks and lending institutions to support the business acquisition and account servicing activities associated with the customer lending lifecycle. These specific BPO services are usually offered through multi-year service-level agreements for all or portions of the credit card lending, consumer lending or commercial lending segments of the financial services market. Some larger financial services organizations choose to extend their sourcing strategy to include other outsourced services such as ITO systems and software, human resources outsourcing and benefits services, finance and accounting outsourcing (FAO) services, procurement or training outsourcing.
Integrated Device Technology, Inc., is an American corporation headquartered in San Jose, California, that designs, manufactures, and markets low-power, high-performance mixed-signal semiconductor solutions for the advanced communications, computing, and consumer industries. The company markets its products primarily to original equipment manufacturers (OEMs). Founded in 1980, the company began as a provider of complementary metal-oxide semiconductors (CMOS) for the communications business segment and computing business segments. The company is focused on three major areas: communications infrastructure, high-performance computing, and advanced power management.
Robotic process automation (RPA) is a form of business process automation technology based on metaphorical software robots (bots) or on artificial intelligence (AI)/digital workers. It is sometimes referred to as software robotics.
Exela Technologies, Inc. is an American business process automation ("BPA") company. It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.
