ICRA to provide BPO facility

MUMBAI: ICRA, a credit rating agency, has announced its plans to set up a Business Process Outsourcing (BPO) facility to cater to the analytical and research based requirements of diverse users. The facility,being set up at Kolkata, will be operational from the middle of May 2004. Besides the analytical solutions, the facility will also provide various high-end value added services.

Joydeep Bhattacharya, who was earlier heading Indian operations of Zacks, has joined ICRA's BPO venture as CEO. The services at the center will range from providing economic analysis undertaking research projects including Equity Research, software development, assist clients in development of theme-based presentations, etc.

According to ICRA MD PK Choudhury, "We have built a specialized domain expertise and vast pool of knowledge base in the analytical and consulting services during the last 14 years of our operations. We would now like to now leverage this expertise for our BPO initiative."

Referring to an ICRA report on information and technology, Choudhury said, "BPO industry is poised for growth and the domestic market is expected to touch Rs 59.1 crore by 2006. Moreover, there is huge opportunity in high value added segments, which is our key focus area. In fact, we foresee 10 percent of our revenues arising out of the BPO segment by FY 2006." He added, "In terms of a strategic plan, BPO will be an on going endeavor for ICRA. Our plans for this market include the acquisition of long-term sustainable businesses in the domestic market and continue provide high-end services."

ICRA had recently picked up 33 percent stake in a Mumbai-based company, which is currently involved in content business and software development. The JV has been re-christened ICRA Online Ltd.

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