Progeon Enters Knowledge Services Segment

Bangalore | Updated: Sep 21 2004, 05:30am hrs
Progeon Ltd, the business process outsourcing (BPO) arm of Infosys has ventured into the knowledge services segment. This new segment will provide equity research, credit analysis, fixed income research, bond analysis, economic analysis, industry analysis, and company analysis to our customers, said CEO of Progeon, Akshya Bhargava.

The company will initially focus on the financial services industry. We have spent the last few months studying the market and doing some pilot work to gain better understanding of the dynamics, he said.

We believe that the Indian BPO segment will focus on key support services like HR, and finance, in the next five years. In addition to this, they will concentrate on specialised projects on these verticals, said Mr Bhargava.

Progeon is looking at the knowledge service segment as a promising new vertical to enhance its business and revenue growth.

Global financial institutions are beginning to recognise the Indian capability for high-end outsourcing in this area, said Mr Bhargava.

However, the company didnt give any specific business projections from the new services. We have given a guidance that we will generate $30 million in terms of revenue this year, he said.

Speaking about the manpower requirement, Mr Bhargava said that the company would hire financial analysts, chartered accountants, PhDs in finance for the new division. We will go for mathematics people, he said.