Friday, September 30, 2005

Karvy Diversifies into BPO and Research Services

Karvy Consultants, an Indian financial services company, has diversified into BPO and research and analytics services. Karvy Global Services, the company's outsourcing subsidiary in Hyderabad, India, will be officially launched in October 2005.

Karvy Global Services has invested in three facilities in Hyderabad, with 800 seats, and already has a staff of 250 people.

According to Arthur Flew, CEO, Karvy Consultants, the company will finish a third facility it is setting up in Delhi, and may also look at facilities in other locations in India. The company plans to get to 4,000 staff in next five years.

He added that the company expects that large investment in facilities and staff by Karvy will help attract customers. However, Flew did not disclose the size of company’s investment in its outsourcing subsidiary.

The company has also opened a subsidiary in New York, which will be staffed primarily with business development staff.

Karvy is currently offering Finance and Accounting (F&A) back-office services, and plans to also offer other services including transaction processing and HR services. The company is also focusing on research and analytics such as investment and economic research.


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