neoIT guns for high value buyers

BANGALORE: neoIT, a company engaged in offering solutions for procurement,

management and delivery of IT services, has tied up with a global consultancy

firm that will help the former to penetrate into the Blue-chip buyer markets in

US, Europe and Australia.

The US-based firm, will help neoIT to find high value buyers for its IT

services. neoIT managing director Avinash Vashistha, however, declined to name

the company, by stating that the deal was in its final stages and an

announcement would be made shortly.

Meanwhile, neoIT has planned to shortly launch a program named neoQA, which

will allow providers to conduct independent verification and evaluation

processes during the development of projects. The third-party verification would

be done by British Standards Institution (BIS) and Germany-based TUV, with whom

neoIT has signed agreements. According to Vashistha, most of the ISO and SEI

quality assurance procedures will be carried out on the projects. Buyers can

also get detailed report on the progress of the project.

In the past few months, the company has been witnessing the average value of

its projects going up to about $250,000, said Vashistha. But, there was a fall

in the number of projects posted on the site, which he cited, was partly due to

the slowdown in the US market. This apart, buyers seem unwilling to go in for

online IT services, he added.

However, Vashistha was confident of a quick recovery and pointed out that the

present lull in the market would not last long. "I expect the market to

pick up by May 2001, by that time the US companies would have resumed their

spending exercise," he said.