Book-keeping contracts to remain strong for BPOs: Study

NEW DELHI: Outsourcing will remain strong in 2008, with HR outsourcing contracts worth $1.1 billion and finance & accounting outsourcing (FAO) contracts worth $600 million coming up for renewal, according to offshoring advisory firm Everest Research Institute.

In its study 2008 Market Predictions, the firm said that demand for FAO services will continue to be strong in the next 12-18 months, as large buyers in the exploratory phase begin to initiate actual engagements. “On the supplier side, battle for market share will intensify. While companies like Accenture, Genpact and IBM hold over 65% share, companies like Xansa, WNS, HP, Infosys and Wipro are fast emerging as notable contenders,” the Everest study said.

The firm also expects greater location diversification among suppliers, and a shift in the nature of contracts. Transaction-based FAO engagements will evolve to judgment-intensive processes such as regulatory reporting, compliance and analysis, it said.

In 2008, captive units, niche BPO players and technology providers would be prime acquisition targets. Some captives, particularly in the financial services space, would see change in ownership and become third-party suppliers, the offshoring advisory firm has predicted.

According to apex software and services association, Nasscom, finance and accounting (F&A) accounts for about 40-45% of Indian BPO revenues. HR administration services, including payroll and benefits administration, travel and expense processing, talent acquisition and talent management services, account for about 2% of revenues.

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Bookkeeping: Selling Half of CNinsure (CISG)

Chinese insurance firm CNinsure (CISG) is up about 4.5% on double the normal volume in just the first 90 minutes. Maybe there was a positive brokerage note out on this name... I don't see any particular news and earnings are not for a while. I assume something is up, but who knows what it is.

As the stock is peaking, and potentially forming a double top (or a double top breakout) I will sell half our stake north of $24 and look to rebuy lower OR... if the name clears the mid $24s, we'd be interesting in buying say north of $25 as that would mark a potential new leg up. I'm ambivalent on which it is...

Speaking to the greater market we are in a no man's land spot here... white noise. Until we get to new highs (>S&P 500 1100) or retrace more severely it's just high frequency trading machines milking the market and collecting their cute rebates. With the gap filled we are boxed in at the low 1070s with the 20 day moving average, and 1100 as a ceiling; a good area for daytraders to play in, but not our thing. What I am seeing is a lot of earnings reports being sold off since the market already anticipated quite a large amount of positive surprises. So a new catalyst (further destruction of the US dollar?) is needed.

I'll look to pick some spots to increase positions in a few names if the tide brings them in further... otherwise a holding pattern.

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Bookkeeping Accounting Services – Save up to 60% on Cost!!

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Good Reasons to Have Both: A Bookkeeper and A Tax Pro

It's tempting for small-business owners to want to handle their own bookkeeping and tax preparation. After all, there is a lot of excellent accounting software out there to help them.

And many business startups begin with a few partners who do everything, hiring outside contractors only when absolutely necessary.

But just because you can do something doesn't mean you should. There are indirect costs involved with everything that falls into the do-it-yourself category. These include the
time you spend doing it.

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