Cosmic Technologies IT Solutions Pvt. Ltd.

The World Is Flat is the timely and essential update on globalization, its successes and discontents, powerfully illuminated by one of our most respected journalists.  Friedman describes the unplanned cascade of technological and social shifts that effectively leveled the economic world, and “accidentally made Beijing, Bangalore and Bethesda next-door neighbors.”

"Globalization has helped India achieve tremendous growth even in hard times and make its mark on the world software map."

R. Kumar, President & CEO - is the founder of Cosmic, responsible for attracting high technology global investment. He started a company called Cosmic Internet Technologies Solutions Pvt. Ltd., which provides IT and ITES solutions in the area of financial accounting, Book keeping, Taxation, payroll and other allied areas for US and UK markets from India.  Say you are running a company and you need people for Book keeping, Taxation, and payroll. You have “Remote Analyst” in India, provided by Cosmic, will do all the end-to-end range of services, and communicate the whole thing to you overnight so that it is on your desk the day you have to deliver it.

It's no wonder so many countries covet a Bangalore of their own.  Compared with capital-intensive manufacturing, service businesses are cheap to set up -- and can generate a hundred times as many jobs per dollar invested.  Plus, the sector is exploding.  The total value of Information Technologies Enabled Services (ITES) – Business Process Outsourcing (BPO) exports, as available, is as (a) 2004-2005 US$5.2 billion, (b) 2005-2006 US$6.3 billion.

''India is expected to corner 12 billion dollar share of the above one trillion dollar BPO market by 2006 and among service categories, the growth will be highest in the back office processing,''

Back office processing is the fastest growing services segment in the BPO market and is expected to remain major revenue earner for both captive and non-captive operations. In India this segment will show a compounded annual growth rate (cagr) of 62 per cent from 1,614 million dollars in 2003 to 6,102 million dollars in 2006.  BPO services like market research, remote education and data search is a small segment in overall market but will grow 21 per cent annually from 11 million dollars in 2003 to 22 million dollars in 2006.

Kumar says “Cost effectiveness and quality of service are the two major encouraging factors for outsourcing, which is believed by the team COSMIC. We add the extra value to our customer support services, which makes a difference to your business”

"Currently, 8 per cent of the US banking transactions is processed by Indian BPOs and the figure has the potential to rise up to 30 per cent by 2010,"

The watchdog of the UK banking industry, Banking Code Standards Board, had announced that they had scrutinised Indian call centres and standards have yet again proven to be amongst the best in the world.

The talent pool of high quality is fully employed. The wage inflation is rampant in India. The BPO companies in India are now targeting smaller cities. However, they are finding that the talents pool in smaller cities lack the quality that made the Western companies interested in India.  According to international think tanks, India may have topped out in its boom in outsourcing.

IDC (International Data Corporation) estimates that U.S. and Europe will continue to drive BPO industry in India.