NIIT, Genpact form JV; to impart IT training     
June 12, 2008
Source:  PTI

NEW DELHI: To address the increasing demand for skilled workers in the technology sector, BPO firm Genpact and IT training institute NIIT today joined hands to form a new venture - NIIT Institute of Process Excellence -- which will offer training in business process services. 

NIIT and Genpact has entered into a joint venture where the training institute would have 75 per cent stake and BPO major would have 25 per cent. The two firms would invest Rs 25 crore in the first phase. 

As per the agreement, Genpact would provide industry- specific knowledge as well as internship and job opportunities to students and NIIT would complement this with its expertise in content development and training delivery. 

Genpact President and CEO, Pramod Bhasin said, "The training institute would focus on developing talent and increasing employability to meet the growing demand for a skilled workforce in the countries where we operate." 

"The training programmes will be offered to students through our learning centres in key metros , mini metros and Tier II towns in India, followed by China and the Philippines," NIIT CEO Vijay K Thadani said. 

The first centre would come up in Gurgaon in September this year. Both the companies expect the new institute to have over 250 centres by 2012. 

The move is likely to address the talent crunch that the BPO industry is facing. IT industry body Nasscom estimates that the Indian BPO industry is expected to generate over 1.4 million jobs by 2010.

3i Infotech acquires 51 pc in Fineng Solutions     
June 12 , 2008 
SOURCE: PTI

MUMBAI: IT Solutions provider 3i Infotech today said it has acquired 51 per cent stake in the Fineng Solutions with an option to acquire the remaining stake later. 

The company has acquired a majority stake of 51 per cent in Mumbai-based Fineng Solutions Pvt Ltd with a commitment to acquire the remaining stake in two tranches over a period, 3i Infotech said in a filing to the Bombay Stock Exchange. 

However, financial details of the transaction were not disclosed. 

Fineng Solutions is a software services company providing software solutions to clients in the financial sector, like, commercial and investment banks, mutual funds, insurance companies, software product companies and financial institutions. 

Share of 3i Infotech closed at Rs 111.20, up 2.54 per cent on the BSE.

Patni completes first-ever SAP ERP implementation     
June 12, 2008 
SOURCE: PTI

MUMBAI: IT services provider, Patni Computer Systems today said that it has successfully completed the first-ever SAP ERP implementation for a temple trust in the country. 

Patni has done this for the Shri Sant Gajanan Maharaj Sansthan, a prominent pilgrimage destination in Maharashtra, a press release issued here stated. 

The Trust partnered with Patni to implement the SAP ERP solution in order to streamline its various functions including automation of its donation collection, accounting and inventory management processes. 

"The combination of SAP's ERP software and Patni's expertise in enterprise applications services and its speed-to-value approach towards ERP implementation has helped us meet our unique requirements. 

"The solution, coupled with Patni's change management programme, has led to an increase in manpower utilisation at the Trust," its Chairman, S S Patil, said. 

Patni's Senior Manager, Vivekanand Sangle, said, "We are pleased to partner with the Trust for such a prestigious project and are confident that this implementation will show the way to other social institutions in terms of leveraging ERP for improving operational efficiency, ensuring accuracy and transparency in financial reporting and driving social change."