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| Home > Resources > Analyst Newsletter > December 2009 |
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| ENGAGEMENTS @ HCL |
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| HCL Technologies signs deal with Equitable Life for $200 Million |
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| HCL IBS Ltd. part of HCL Technologies Ltd. has been awarded a major service contract by Equitable Life Assurance Society (Equitable Life). The contract, which starts in March 2011, will deliver substantial cost benefits to Equitable Life’s policyholders through the transfer of core processing and support activities required to run its closed book of business. HCL will be providing end-to-end solutions, including policy administration, finance, actuarial services, IT operational support and call center services. |
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| HCL Technologies and Savvion announce Global Alliance |
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| HCL Technologies has entered into a strategic partnership with Savvion, the trailblazing business process management company to extend its service focus into the Business Process Management (BPM) Space. Through this partnership, both the companies will be able to help customers implement and optimize business processes across the organization. |
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| The BPM solutions enable visibility into extremely critical business processes such as order management, onboarding new clients and releasing & supporting products with an ability to track and measure these processes real-time. This leads to elimination of inefficient processes and ensures informed decision making. |
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| iLumen™ and HCL Announce Strategic Relationship |
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| In a joint announcement, HCL Technologies and iLumen, announced a strategic relationship to power CapitalStream, HCL’s business and commercial lending system, using iLumen technology. The combined offering will extend CapitalStream’s Straight Thru Processing solution to allow a bank’s customers to send financial statements, information and documents through a secure electronic portal thereby improving customer data and relationship management while also lowering costs and enhancing portfolio management. The partnership will include both technical product integrations and co-marketing arrangements. |
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| SERVICE INNOVATION @ HCL |
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| HCL’s HomeNeeds Solution |
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| HCL HomeNeeds Solution offers integrated multi-channel retailing along with a multitude of solutions to help overcome the challenges faced by each entity in the Indian retail arrangement. HomeNeeds is a platform that is visualized to create a new retail selling & fulfillment channel. It is an attempt to build on customer’s business strategy in India and lead it to competitive advantage by leveraging Customer Relationship Management to drive increased value across the value chain. |
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| HomeNeeds is a matchless solution aimed at uplifting the highly unorganized retail industry in India and other countries. It is an integrated model which brings consumers, retailers, wholesalers and distributors on a single platform. The solution comes along with a portable touch screen device providing virtual shopping experience for users. The device will have several retail applications which include: |
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Multi Channel Order Capturing |
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Order Management |
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Point of Service (POS) |
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Loyalty Management System |
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Sourcing (Purchase Order) |
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Inventory Management |
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Inventory Visibility |
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Value Added and Utility Services |
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Bidding & Reverse bidding for customer order & purchase order respectively |
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| NEW @ HCL |
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| HCL Technologies opens Global Development Centre in Brazil to service growing client base in Latin America, North America and Europe |
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| HCL Technologies has opened a Global IT development center in Sao Leopoldo, Brazil, which will serve as Strategic Gateway to Latin America, Strengthening the company’s Global Service Delivery Network. |
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| This center compliments HCL’s operations in Sao Paulo and will offer a range of services including Enterprise Application Services, Custom Applications Development and Maintenance, and Remote Infrastructure Management to clients primarily in Latin America, North America and Europe. The company expects to hire over 300 engineers to work at the center by 2012. |
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| HCL Technologies emerges as a Most Admired Knowledge Enterprises (MAKE) Winner |
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| HCL Technologies has been recognized as a 2009 Most Admired Knowledge Enterprise (MAKE) in India for maximizing Enterprise Intellectual Capital. The winners were announced during a special awards ceremony at the Confederation of Indian Industry's ‘KM India 2009’ Conference in Chennai. |
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| A panel of Indian-based Fortune 500 senior executives and internationally recognized knowledge management / intellectual capital experts selected the winners. |
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| HCL Technologies launches Window 7 Migration Services |
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| HCL Technologies has announced launch of its XpressMigrate suite of offerings for Windows 7 migrations enabling enterprises to minimize risk, bring higher visibility and reduce Windows 7 deployment cost upto 25%. HCL’s XpressMigrate suite consists of three offerings: |
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Remote Desktop Deployment Solution for Microsoft Windows 7 |
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Application Compatibility Factory Service (ACFS) for Windows 7 |
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Application Packaging Service (APFS) for Windows 7 |
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| HCL Expense Management Services appoints Rick Valencia as new CEO |
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| HCL Expense Management Services Inc., (HCL EMS), a subsidiary of HCL Technologies Ltd., has appointed Rick Valencia as its new CEO. Rick brings to HCL remarkable entrepreneurial experience. He will be responsible for driving HCL EMS to the next level while enhancing HCL’s competitive positioning in the global Telecom Expense Management (TEM) space. |
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| HCL EMS (originally Control Point Solutions) was fully acquired on 1st September 2008 by HCL Technologies Ltd. Through the acquisition HCL became the first Indian BPO company to enter the global TEM space. After a successful integration, and as part of the re-branding, CPS is now formally HCL Expense Management Services. |
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| HCL celebrates World Quality Day |
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| HCL celebrated World Quality Day on 12th November 2009. ‘Celebrating Excellence’ was the theme for this two-week Quality carnival. The objective of this initiative was to further embed Quality into the workings of the BPO organization. |
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| ‘Zero Defects Performance Standard’ was the key message that was reinforced across the organization this year in the weeks leading up to World Quality Day. In order to take the Zero Defects drive to the next level and sustain the initiative, HCL’s BPO organization has launched ‘Zero Defects’ training programs for all processes. |
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| During the World Quality Day celebrations last year, HCL devoted special focus to empowering employees through ‘Kaizen’. Through the ‘Kaizen’ employee empowerment program, HCL encouraged BPO employees to come up with creative suggestions to further improve the respective processes. These suggestions were then evaluated, tested and implemented. HCL’s BPO organization had posted 2,613 kaizens of which 1,444 kaizens were approved and 872 kaizens were implemented as small projects. |
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| IT Companies reduce reliance on headcount to cut costs |
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| The Business Standard carried an article titled ‘IT companies reduce reliance on headcount to cut costs’ on 23rd November 2009 in which HCL’s BPO IT services platform featured prominently. This is further to the interview with HCL’s head of technology for BPO, Vijay Reddy. |
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| The article highlights the conscious strategy of HCL’s BPO organization to move away from linear monotonic growth as well as to de-link the revenue growth from the headcount growth. This strategy encompasses HCL BPO’s technology initiatives where automation and centralization have been the two pillars of this non-linear approach. |
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