Expansion

Dec 10, 2009 (LBO) – Mphasis, an Indian outsourcing firm, is opening a centre in Colombo which will offer legal, finance and accounting services starting with 600 people in the first stage, as a downturn is ending, officials said. “We have a fairly well established global footprint and with the Colombo office we are expanding it further,” Gopinathan Padmanathan, president applications at Mphasis said.

“After completing the due diligence Mphasis were really confident.”

The centre will be operational from next year. The office will recruit 600 employees in the first year and expand to 2,000 in three years, Padmanathan said.

“Mphasis is investing 2.5 million US dollars for the first stage of operations,” Duminda Ariyasighe, executive director at the Board of Investment of Sri Lanka said.

“The subsequent investments into the Colombo office will be much bigger. They need the economies of scale to compete in the global market place.”

The global BPO industry has been hit by a global slump, with much of its green pastures in Europe and North America drying up due to inward looking policies forced upon the private sector by governments to save local jobs. Asian BPO’s reacted to the crisis by cutting costs, Padman