OPI to invest $ 5 million in India

BANGALORE: Bangalore-based Outsource Partners International (OPI), a business process outsourcing firm specializing in finance and accounting services plans to invest $5 million to develop its India operations.

The company recently opened an offshore service center in Cochin.

Kishore Mirchandani, president and CEO, Outsourcing Partners International said, "OPI occupied a small portion of space in Kinfra Info Park in Cochin and would be constructing a new 127,000 sq ft facility in Kerala this year, which would house around 1400 professionals."

The new center would deliver accounting functions such as accounts payable, accounts receivable, payroll, reconciliation, financial reporting, tax compliances services and document management solutions.

OPI started their offshore activities in Bangalore in the year 2001 with around 250 people. “Today, we house around 400 professionals in this center and intend to increase the present headcount to 2000 by the end of 2006, Kishore said.

The company has planned to invest around $4 million to $5 million to develop India operations. Of these, 60 per cent would be used for the development of Kerala center.

OPI's revenue for the year Jan-Dec, 2004 was around $40 million and we expect to reach the $100 million revenue mark by the end of 2007, he said.

OPI has acquired KPMG LLP's outsourcing practice division in US and Arthur Anderson's regional BPO practice division in 2002. And is

currently scouting for more acquisitions outside India.

Globally, OPI has 10 centers, of which two are based in India.