Kpit Cummins' BPO unit gets Rs 21 cr
Kpit Cummins Infosystems' BPO unit partners with Cummins Inc to deliver finance and accounting services.
By PTI |
MUMBAI: Kpit Cummins Infosystems Ltd will invest Rs 21 crore in its BPO subsidiary, which has entered into a partnership with Cummins Inc to deliver finance and accounting (F&A) services.
The board of directors on Monday approved the infusion of up to Rs 21 crore in company's BPO subsidiary, it informed the Bombay Stock Exchange.
The company's subsidiary - KPIT Cummins Global Business Solutions (GBS), has reached an understanding to partner with Cummins Inc to deliver F&A services to its entities worldwide, it said.
Under the pact, five million would be paid upfront and a further payment of up to five million dollars would be payable at the end of fifth year depending on achievement of certain financial parameters.
Finance and accounting BPO for manufacturing sector is expected to be a significant growth driver for KPIT Cummins and is likely to contribute approximately 10 per cent of its revenues by 2009-2010, the company said.
The board of directors on Monday approved the infusion of up to Rs 21 crore in company's BPO subsidiary, it informed the Bombay Stock Exchange.
The company's subsidiary - KPIT Cummins Global Business Solutions (GBS), has reached an understanding to partner with Cummins Inc to deliver F&A services to its entities worldwide, it said.
Under the pact, five million would be paid upfront and a further payment of up to five million dollars would be payable at the end of fifth year depending on achievement of certain financial parameters.
Finance and accounting BPO for manufacturing sector is expected to be a significant growth driver for KPIT Cummins and is likely to contribute approximately 10 per cent of its revenues by 2009-2010, the company said.
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