Source: www.business-standard.com

KPMG, the $20-billion global advisory and audit firm, is set to broaden its basket of operations in India as it sees annual growth of 40 per cent in the coming years as well.

Michael Wareing, international chief executive officer of KPMG, in an interview with Business Standard, said: “The Indian operations have been delivering successfully. The education system and work ethics in India are particularly high and positive. In addition to offering direct services to clients, we see enormous opportunities to leverage the resources India offers.”

At present, a significant chunk of KPMG’s global client service support is being outsourced to Outsource Partners International, a strategic partner, in India. Going forward, the outsourcing volumes are expected to double.

“In fact, our own half-yearly results for our global operations were prepared in Bangalore,” Wareing said. In addition to outsourcing these knowledge processes’ from its own stable and clients, KPMG has contracted a major portion of its IT applications to two Bangalore-based software services firm.

KPMG is witnessing a significant growth in the tax and advisory practices business and is eyeing the mid-market mergers and acquisitions space. According to Indian regulations, non-Indian firms cannot offer auditing services. KPMG operates in this space through BSR & Co, a member firm, which adopts the same practices as KPMG.

KPMG is keen to offer its direct services in India as and when regulations ease, especially in India post the upcoming WTO talks at Doha. “It’s a national regulatory issue. We are keen to offer our direct services to clients here and we are in talks with our peers to make that clear,” he noted.

KPMG is also actively scouting the Indian market place for ‘bolt-on’ acquisitions to widen its presence. “It’s a people intensive business. We will look at organisations and at people who can increase the depth of our practices to deliver more value to our clients,” Wareing noted.

Source: newsblaze.com

FREMONT, Calif.,PRNewswire — Tricom Document Management (Tricom), a company specializing in the electronic management of legacy and current documents for a global clientele, has announced the acquisition of Godrej Global Solutions Ltd (GGSL) by its parent company, Tricom India Ltd., subject to approval from the shareholders. GGSL is a subsidiary of Godrej Industries Ltd, and a global BPO solutions and services company.

GGSL is headquartered inMumbai, India, and provides services in three primary enterprise areas: healthcare, data capture and data conversion. GGSL provides document solutions from its offshore service delivery centers at Chennai and Navi Mumbai, while maintaining onshore offices inMinneapolis, MN andBoston, MA. In acquiring full equity in GGSL, Tricom will provide an initial cash payment, with the remainder of the transaction to be funded through optionally fully convertible debentures.

Commenting on the acquisition, Sanjay Tipnis, managing director, GGSL, said, “We are looking forward to exploring synergies as both companies are focused in similar areas of business. We believe that by using the additional infrastructure that Tricom provides we will be able to grow faster and service our clients more efficiently.”

“Acquisitions are a part of the growth strategy for Tricom, and we hope to continue to grow both organically and inorganically,” stated Chetan Kothari, managing director, Tricom India Ltd. “Post acquisition, the core team of GGSL will continue to function in their respective positions and capacities.”

Sameer Sheth, Tricom Vice President of North American Sales, added, “GGSL’s expertise in the areas of claim processing and medical billing reinforces the strength of our North American operations. This acquisition increases our employee level to more than 3,000, and their facilities in Chennai add a fresh location from which to provide enhanced services to our clients.”