OPI expands accounting services portfolio

BANGALORE: US-based Outsource Partners International (OPI), a BPO specializing in accounting services has expanded its services line to include sales tax and local tax management for customers.

Speaking to CyberMedia News, Kishore Mirchandani, OPI's CEO, said that the company had tied up with an Atlanta based company called Salis to deliver offshore services in managing sales tax and local tax.

“Now, we can offer our clients full-fledged accounting services from accounts and billing to sales tax. Apart from captive BPOs, no other third party provider in India offers these new services,” he said.

He also said that the company would be opening a 1200 seat facility in Kochi in November this year. In addition, OPI would also ramp up its headcount in Bangalore and add 100-150 new hires to the existing 500 employees here.

“We are increasing our offshore portion of our business significantly and soon plan to have around 70 percent of our operations in India and other locations, and the rest from the US,” Mirchandani said.

On his choice of Kochi as the site for the company's biggest facility, he said that issues such as high attrition rates and rising infrastructure costs in Bangalore and other cities would eventually put a squeeze on the company's margins in a few years.

“This is one way of neutralizing the effect. Compared to other cities like Pune, Hyderabad and Chennai, Kochi emerged as a good option,” he added.

Mirchandani also informed that he was looking at establishing a center in Eastern Europe to cater to its European clientele. He further said that the company was not averse to mergers and acquisitions to expand business.

The company is targeting revenues of $50 million this fiscal. It registered $35 million in revenues last year.