Progeon

Within just three years of operations Progeon has almost equaled Infosys's earning margins of around 25%. It has, in fact, done better than most of Infosys's other businesses this year. From being known just as Infosys's BPO arm trying to leverage on its brand value, Progeon is gradually emerging as a leading player in BPO bandwagon.

At a time when Infosys's other new business ventures like Infosys Consulting and Infosys China made a loss, Progeon grew by 24%, adding 773 in headcount in the first quarter of this fiscal. With about 20% revenue coming from voice services and 80% from non-voice, Progeon is probably one of the largest transaction processing companies in the country.

Its strong focus on end-to-end processing services and non-voice leaning is explained by the fact that it is trying to cross leverage on Infosys's expertise into the BPO business. And why not? The Infosys connection has allowed Progeon to be choosy about its clients. The Infosys tradition of strategic thought, analytical ability, and foresight on where the market will move have endowed Progeon with something like a sixth sense that enables it to plan for the future. Progeon and Infosys are also working together on developing collaborative client servicing models to integrate the IT and BPO offering satisfying their client's interests.

Progeon also made a foray into knowledge services this year. It has already bagged its first contract for providing services in the area of income research and credit analysis for a very large European bank. In the coming year, the company will continue with its successful strategy of end-to-end services, where end-to-end implies all the adjacent processes that support a particular product line. This calls for a combination of strategy in operations and technology, onsite and off site, a mix of voice and non-voice. In terms of headcount, the company plans to add a total of about 3000 employees this year.

FACT FILE
CEO: Akshaya Bhargava
Startup Year: 2002
Annual Revenue: $43 million (2004-05)
Employees: 4740
Locations: Bangalore, Pune
Address: 26/3, 26/4 and 26/6, Electronics City, Hosur Road, Bangalore - 560 100
Tel: 91-80-8522405
Fax: 91-80-8522411
Website: http://www.progeon.com
Services: Banking (credit cards, retail banking, cash management), securities (fund administration, investment banking, market data and analytics), insurance (life, non-life, re-insurers), finance & accounting (accounts payable, accounts receivable, fixed asset accounting), and telecom (operators, OEM s, value service providers)

Awards:

• Optimas Award, 2005, for workforce management initiatives
• ASTD (American Society of Training & Development), 2005, in the Workplace Learning & Development Category.
• Recognized as Most Enterprising Organization in the Outsourcing Industry at the Asia Pacific HR Outsourcing Conference, 2005