Tech Span India is one of the major assets management & securities transaction software maker and it is currently focusing on expediting its goal of becoming a billion dollar company by 2010.

The efforts include the plan to increase its revenues from the existing & future contracts. Tech Span top line is growing at the pace of 50% year-on-year.

During year-ending 2005, the company reported service & software revenues of $102 million. Most of the Tech Span’s US &UK-based clients are equipped with their own captive BPOs in India or the Philippines or Outsource it to third parties in either of these countries.

Tech Span India is a subsidiary of headstrong services LLC, an American Company.

Arjun Malhotra, founder and chief executive officer of Tech Span said that most of the investment banks & asset management firms who are using their software would also prefer BPO services to manage their transaction.

The BPO operations will be started at one of the existing locations in Noida and an investment of $20 million has already been announced by the company.

Many smart IT Companies are using the India story to create a global footprint for themselves. For instance, Finacle division of Infosys has cited the reference of ICICI Bank while making sales presentation for its core banking solutions to banks in Europe & Africa. Nucleus software also follows the trend & cites its software installation for SBI.

Telecom system integrator ORG informatics explains its role in the growth story of Airtel & Reliance Infocom to prospective telecom customers in Africa.

This new program is known as “Easy online payroll” and it is a part of a series of business applications that the bank has developed in its business 24/7 portfolio.

The president of global consumer & small business banking for the bank said that the customers were keen on availing products that would facilitate their business to run smoothly. He also said that the bank planned to introduce the payroll program, as this may be a complex area for the customers to carryout on their own.

The new payroll program will be free to small business customers who pay their employees by direct deposit with a bank of America account.

The program will also set up tax statements, perform with-holding calculations, link to accounting & bookkeeping software & would pay & file federal & most state payroll taxes electronically.

Online invoicing & electronic payment of vendors would also be a part of the bank’s business 24/7 portfolio.

This has made it to make an exodus from the city-based Mphasis BFL.

The holding would bring Barings Rs.114.52crore for its stake at the offer price of Rs.204.5.

Barings possessed a 34.79% stake in the company followed by 4.25% of Investek Maritius according to the stock market data.

Mr. Jaithirth Rao, CMD of Mphasis BFL, had reportedly surrendered 18.75 lakh shares or 29.36% of his holding in the company to the acquirers. Mr. Rao had a 3.97% stake in Mphasis BFL as of March 31, 2006.

On an acquisitions spree, this Bangalore-based IT giant has made five buyouts in the last six months including enabler.

Buying enabler may include shelling out an up front cash payment of around $53.3 million on closure of transaction & earn-outs on achieving agreed financial targets over a two year period.

The revenues for Wipro from this acquisition will start accruing from July 2006. the acquisition will strengthen Wipro’s retail services division & also offer it, a strong presence in the Latin American Market.

Enabler currently possesses two development centers in Portugal & Brazil with over 310 employees. The company was started in 1997 & posted revenues of $39 million for 2005 & possess a customer base of 15 including Tesco, Sonar, Espirit & the likes. Integration of Oracle retail solutions & consulting services is where the enabler’s expertise lies in.

The acquisition strategy according to Wipro technologies is guided by three factors namely, strengthening of domain expertise, adding new service lines & increasing the geographical footprint.

A 33% enhancement in software exports that would touch $223.6billion in 2005-06 is estimated by industry association Nasscom.

According to the annual Nasscom report, the overall growth of the industry that includes exports & the domestic Market has already registered a 31% increase to reach $29.6billion.

The total number of employees in the IT & ITes industry grew to 1.29million in 2005-06 from 1.05 million in the year 2004-05 according to Nasscom.

The senior vice Justice Minister Taro Kono, confirmed that the proposal will be included in a draft package of immigration policy reform measures to be drawn up in a short period of time.

The Justice Ministry said that the foreign residents accounted for 1.2% of the country’s total population at the end of 2005.

The proportion stood at 8.9% in Germany in 2001, at 11.1% in the United States in the same year & at 5.6% in France in 1999. Some countries also accept 5% or 10% but according to the spokesmen for the ministry, it would be absolutely impossible for Japan.

Tightening immigration requirements on foreigners of Japanese descent was also proposed by the Panel.

The Panel does not consider it important to become extra-strict on the Criteria, as the number of problems caused by such residents has been on the rise.

The enhancement plans for its ageing work force has been a debatable issue for the country.

TCS will approach $4 billion revenue as per the recent growth rate of 27-30% & Infosys & Wipro will experience a growth between $2.7 billion & $3 billion. However, this growth rate will get them nowhere when compared to the dreamy target of $10 billion revenue figure that has been set to be accomplished by 2010.

The Indian IT majors would become massive men power factories and the growth is contributed by the recent growth rate of 27-30%. Around 70,000 to 90,000 staff is supposed to be added by the three companies in the coming 12 months.

Experts at Gartner & other research firms feel that its’ time that the Indian troika strengthens its IT BPO & Consulting proficiency. The strategy will help offing more to the clients. None of the companies have confirmed talking about $10 billion target. Wipro had eventually failed to get to its internal calculations of $4 billion revenue by 2004.

TCS has an internal target called 7-4-1. TCS also wants to be ranked among the global top 10 by 2010.

IBM, HP Accenture, EDS, Atos origin, CSC, ACS and Bearing point being the current global top 10 IT companies.

Last year TCS acquired FNS an Australian banking solution company for $23 million & comicorm, a Chile based BPO for $26 million.

• Save Time

If you are a business owner or work in your company’s accounting department you know that payroll can be a major hassle. Unfortunately it is a necessary evil as you will be hard pressed to find employees who do not wish to be paid. If your company has yet to begin using electronic timesheets to track employee attendance, then the time to switch is now.

Electronic timesheets can eliminate time consuming paperwork and tedious data entry. They can perform such simple tasks as totaling employee hours, but also can highlight missed and late punches to save you the hassle of dealing with employees that are upset over unpaid hours.

• Unlimited Access

Because electronic timesheets are Internet based they can be accessed from anywhere. This is ideal for companies that have traveling employees. If your company has just one employee that goes on the road, even if it is not a frequent occurrence, electronic timesheets will greatly simplify your payroll accounting. You can eliminate the hassle of accurately tracking their hours.

With the Internet becoming more and more accessible from almost anywhere your employees can clock in from anywhere they may be. They can even log in from home to check their hours for the current or previous pay periods. An Internet based payroll system makes your company much more adaptable to your changing needs.

• Increased Productivity

When you put an electronic timesheet to work in your office the ways in which productivity is increased are numerous. From the obvious time saved by your administration or accounting department to the overlooked time saved by your employees.

Your administrators or accountants will have more time to concentrate on the more important aspects of their work. Your employees will also no longer have to type their times into a spreadsheet or go to a central location to clock in on the office time clock. Instead, they can easily clock in with a single click on the electronic timesheet. Your offices overtime and rounding rules will automatically be taken into consideration and hours and pay will be calculated for you.

The benefits of electronic timesheets are diverse and they are becoming more versatile every day.

————————————————————————
Kent Fairbourn is a Client Account Specialist for 10x Marketing, an Internet marketing company. Go now to ADP Small Business Services, the business behind small business, to access their free “Solution Builder” to find payroll solutions that fit your business needs.

• What is EasyPay?

EasyPay is a Payroll Management Service that allows small business owners to concentrate on running their business rather than managing payroll. Large businesses are able to staff in-house accountants to run their payroll and ensure that it is all done correctly. For a small business the idea of staffing in-house accountants is not feasible.

With EasyPay small businesses can outsource their payroll affordably, giving them security in knowing that their payroll needs will be taken care of correctly and in time to meet payroll deadlines.

• How do I use EasyPay?

Using EasyPay is simple and does not require any special accounting or payroll experience. It is easy to use and quick, leaving business owners more time to concentrate on their business.

As a business owner you simply report how many hours each employee worked and the rest is taken care of for you. EasyPay even allows several different options for submitting these hours. You can submit by phone, fax, or securely over the internet

• How will my employees be paid?

Once you have submitted employee hours their pay is calculated as well as all pertinent taxes and withholdings. You then have a few options as to exactly how your employees will be paid.

You may choose to have professional checks, reports, and pay vouchers mailed to your door. They will be delivered in time for payday and all of this information is available to be accessed online for future reference.

Another option is to print your own checks from your business with the information you receive from EasyPay.

Regardless of the option you choose EasyPay will increase your productivity by removing a major hassle from your business. No longer will you worry about payroll errors as EasyPay will handle it all.

——————————————————————–
Kent Fairbourn is a Client Account Specialist for 10x Marketing, an Internet marketing company and does not represent ADP or their views. Go now to ADP Small Business Services, the business behind small business, to access their free “Solution Builder” to find services that fit your business needs.