MIRA
INFORM REPORT
|
Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
IBM DAKSH BUSINESS PROCESS SERVICES PRIVATE LIMITED |
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Formerly Known As : |
DAKSH.COM ESERVICES PRIVATE LIMITED |
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Registered Office : |
1ST Floor, Birla Tower 25 Barakhamba Road, Connaught Place,
New Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.12.1999 |
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Com. Reg. No.: |
55-102972 |
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CIN No.: [Company
Identification No.] |
U72200DL1999PTC102972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD04603E |
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PAN No.: [Permanent
Account No.] |
AABCD4187D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of BPO and IT Enabled Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 11446116 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company and a part of IBM
Worldwide. Available information indicates high financial responsibility of
the company. Trade relations are fair. Fundamentals are strong and healthy. Payments
are reported as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
1ST Floor, Birla Tower 25 Barakhamba Road, Connaught Place,
New Delhi, India |
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Tel. No.: |
91-124-4095000 / 4635100 |
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Fax No.: |
91-124-4263311 |
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E-Mail : |
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Website : |
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Corporate Office: |
186, Udyog Vihar , Phase – I, Gurgaon – 122 016, India |
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Tel No.: |
91-124-243 9816 -25 |
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Fax No.: |
91-124-243 9844 / 243 9845 |
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Email: |
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Websites: |
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Location: |
Commercial |
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Head Office: |
DLF Building No. 8, Tower B, 4th Floor, DLF Cyber City, DLF Phase II, Gurgaon - 122002, India |
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Tel No.: |
91-124-4635100 |
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Fax No.: |
91-124-4263311 |
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Administrative Office: |
Two Lincoln Center, 5th Floor, Oakbrook Terrace, IL 60181 |
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Tel No.: |
+1 630 240 3096 |
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Fax No.: |
+1 630 904 7744 |
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Email: |
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Financial Services Sector; |
Anurag Bhatia Tel: +1 212 493 2212 Email: anurag@daksh.com Industrial Brian Lemon Tel: +1 585 637 3740 Communication James J. Ziaja Tel: +1 512 329 8610 Email: james.ziaja@daksh.com Distribution Jaysimha Raju Tel.: +1 (609) 806 3935 Email: jayr@daksh.com |
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Overseas Office: |
Sanjoy Das Mobile: +44 20 72023049
1 Mouli Ganguly Mob.: 61-(0)- 437 546842 Services Phils. Inc. Tel No.: +632 81 32574 Fax No.:+632 840 6040 Narendra Nayak
(for Business Development related enquiries) |
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Delivery Centers: |
New Delhi-National
Capital Region (NCR) Tel: 91-124-4093000 444 Udyog Vihar
Center Tel: 91-124-4095200 Cyber Greens Center Tel: 91-124-4115555 Infinity Towers B
& C Center Tel:
91-124-4115555 / 4358899 Email: nayak@daksh.com
Unitech Cyber Park
(Towers B & C) Center (Tel: 91-0124-4614310, 300 Tel: 91-124-4359999 Bangalore Delivery Centers ITPL Delivery Center Tel: 91-80-41974666 MTP Delivery Center Tel: 91-80-40204400 PTP Delivery Center Tel: 91-80-41784300 Mumbai Delivery Centers Magnus Tower Center Tel:
91-22-40605677 / 56775677 Email: kulbir.ahuja@daksh.com
Prism Towers Center Tel. 91-22-40366466 Pune Delivery Centers Ozone Center Tech Park One Center Tel: 91-20–40006600 Kolkata Delivery Centers DLF IT Park Center Tel: 91-33-44004400 Millennium City
Center Tel: 91-33-40072101 to
40072109 Chandigarh Delivery
Center Tel: 91-172-4600581-84 Vizag Delivery
Center Tel: 91-891-2547204,
91-0891-2547207 PBCom Tower Center EDSA Central
Pavilion Center Tel: 2-840-6020 |
DIRECTORS
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Name : |
Mr. Ashish Kumar |
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Designation : |
Director |
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Address : |
EGI/36, Garden Estate, Mehrauli GGN Road, Gurgaon -122 002, Haryana,
India |
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Date of Birth/Age : |
20.09.1964 |
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Date of Appointment : |
29.03.2006 |
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Name : |
Mr. Ajay Dua |
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Designation : |
Director |
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Address : |
913 Vikas Kunj, Vikas Puri, New Delhi – 110 018, India |
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Date of Birth/Age : |
02.08.1972 |
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Date of Appointment : |
29.03.2006 |
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Name : |
Mr. Chandrasekhar Thyagarajan |
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Designation : |
Director and Chief Financial Officer |
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Address : |
D -116, First Floor, Saket , New Delhi – 110 017, India |
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Date of Birth/Age : |
31.10.1966 |
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Date of Appointment : |
10.08.2005 |
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Name : |
Mr. Pavan Vaish |
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Designation : |
Director and CEO |
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Address : |
Court Green , 301A, The Laburnam, Sector – 28, Sushant Lok Gurgaon –
122 002, Haryana, India |
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Date of Birth/Age : |
05.12.1967 |
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Date of Appointment : |
29.03.006 |
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Name : |
Mr. Sanjeev Aggarwal |
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Designation : |
Director |
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Address : |
C -9 / 9130, Vasant Kunj, New Delhi |
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Date of Birth/Age : |
27.03.1960 |
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Date of Appointment : |
24.12.1999 |
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Name : |
Mr. Thomas Jeffrey Weiland |
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Designation : |
Director |
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Address : |
312 North 45th Street, Seattle WA 98103, USA |
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Date of Birth/Age : |
12.08.1969 |
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Date of Appointment : |
14.06.2002 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Vish Iyer |
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Designation : |
Director |
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Address : |
Vishwageet 204, 3rd Cross Koramangala Block –I, Bangalore –
560 034, India |
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Date of Birth/Age : |
12.08.1953 |
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Date of Appointment : |
22.06.2004 |
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Name : |
Mr. Donald Peck |
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Designation : |
Director |
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Address : |
11, Golf Links, New Delhi |
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Date of Birth/Age : |
18.05.1952 |
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Date of Appointment : |
19.04.2000 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Gopi Krishnan |
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Designation : |
Director |
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Address : |
4, Ferndale Apartment, 3 Artillery Road, Bangalore – 560 008, India |
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Date of Birth/Age : |
05.05.1976 |
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Date of Appointment : |
22.06.2004 |
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Name : |
Mr. Ajit Bhushan |
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Designation : |
Director |
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Address : |
33, Cavendish Square London WI A2SY UK |
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Date of Birth/Age : |
11.04.1963 |
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Date of Appointment : |
23.06.2001 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Mark Dzialga |
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Designation : |
Director |
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Address : |
2250 Broadway Apartment, 9D, New York, NY 10024 |
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Date of Birth/Age : |
10.01.1963 |
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Date of Appointment : |
22.06.2004 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. M J Aravind |
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Designation : |
Director |
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Address : |
JI /17, Qutbu Enclave DLF Phase II, Gurgaon |
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Date of Birth/Age : |
24.12.1999 |
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Date of Appointment : |
22.06.2004 |
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Name : |
Mr. Anupam Puri |
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Designation : |
Director |
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Address : |
186, 100 ft Ring road, Banashankari Extension, Bangalore – 560 085,
India |
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Date of Birth/Age : |
23.03.1957 |
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Date of Appointment : |
24.12.1999 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Ashish Gupta |
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Designation : |
Director |
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Address : |
339 Verang Drive, Los Altos Ca |
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Date of Birth/Age : |
18.12.1966 |
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Date of Appointment : |
19.04.2000 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Abhay Havaldar |
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Designation : |
Alternate Director |
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Address : |
19, Mallika Makarand Society, VS Marg, Mahim , Mumbai – 400 016,
Maharashtra, India |
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Date of Appointment : |
27.11.2002 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Jayanta K Basu |
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Designation : |
Director |
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Date of Birth/Age : |
09.11.1965 |
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Date of Appointment : |
22.08.2001 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. Vivek Chhachhi |
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Designation : |
Alternate Director |
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Address : |
B -427, New Friends Colony, New Delhi , India |
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Date of Birth/Age : |
06.01.1971 |
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Date of Appointment : |
19.06.2004 |
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Date of Ceasing: |
22.06.2004 |
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Name : |
Mr. G Rathinam |
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Designation : |
Director |
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Address : |
11, Golf Links, New Delhi, India |
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Date of Birth/Age : |
16.09.1967 |
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Date of Appointment : |
19.06.2004 |
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Date of Ceasing: |
22.06.2004 |
KEY EXECUTIVES
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Name : |
Ms. Swarna Niranjan |
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Designation : |
Secretary |
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Address : |
Mausam Apartment, West Enclave, Pitam Pura, New Delhi – 110 034, India
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Date of Birth/Age : |
27.05.1979 |
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Date of Appointment : |
23.10.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2006) |
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No. of Shares |
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IBM India Private Limited |
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10890498 |
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IBM South Asia Holding Limited |
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28391380 |
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Total
|
39281878 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2006):-
|
Sr No. |
Category |
Percentage |
|
1 |
Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial institutions
, non residents or Overseas corporate bodies or others |
72.30 |
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2 |
Bodies Corporate |
27.70 |
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of BPO and IT Enabled Services. |
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Exports : |
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Products: |
Subject provides BPO Services and IT Enabled services to its overseas
clients in USA |
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Imports : |
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Products : |
Hardware and Software Hardware · HP, IBM, Sun and Apple MAC – Computing Infrastructure · CISCO , AVAYA and NORTEL – WAN · AT and T, Sprint, Singtel, Reach and MCI – Long Distance Carrier · AVAYA, ASPECT – Voice Infrastructure · Verint, Nice and witness – Voice Quality Recording solution · Davox Corporation – Predictive Dialer Software · Aspect Workflow Management · Microsoft Office Automation , OS, System Management · Symantec Anti Virus Security · Seagate Reports · Veritas Backup Solution · Target Vision AVI · Hp Openview Network Infrastructure |
GENERAL
INFORMATION
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Bankers : |
· Union Bank of California · The Hong Kong and the Shanghai Banking Corporation |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Price Waterhouse Charted Accountants |
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Address : |
Plot No. Y -14, Block EP Sector -5, Salt Lake, Electrics Complex,
Bidhan Nagar, Kolkata – 700 091, West Bengal, India |
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Holding Company: |
IBM South Asia Holdings Limited |
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Associates/Subsidiaries : |
· IBM Daksh Business Process Services (Phillipines) INC · IBM Corporation · IBM World Trade Corporation |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60000000 |
Equity Shares |
Rs. 1/- each |
Rs. 60.000 millions |
|
2500000 |
Preference Shares |
Rs. 1/- each |
Rs. 2.500 millions |
|
|
|
Total |
Rs.62.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
39281878 |
Equity Shares |
Rs. 1/- each |
Rs.39.281
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
39.282 |
43.571 |
|
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2] Share Application Money |
|
0.002 |
0.002 |
|
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3] Reserves & Surplus |
|
2822.245 |
2471.411 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
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NETWORTH |
|
2861.529 |
2514.984 |
|
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LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
110.611 |
1.718 |
|
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2] Unsecured Loans |
|
0.000 |
0.000 |
|
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TOTAL BORROWING |
|
110.611 |
1.718 |
|
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
2972.140 |
2516.702 |
|
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
|
1003.232 |
687.126 |
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Capital work-in-progress |
|
129.530 |
6.544 |
|
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|
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INVESTMENT |
|
5.763 |
5.763 |
|
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DEFERREX TAX ASSETS |
|
20.030 |
0.000 |
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
763.674 |
452.822 |
|
|
Cash & Bank Balances |
|
944.753 |
1126.788 |
|
|
Other Current Assets |
|
764.236 |
497.490 |
|
|
Loans & Advances |
|
305.701 |
205.797 |
|
Total
Current Assets |
|
2778.364 |
2282.897 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
880.844 |
405.228 |
|
|
Provisions |
|
83.935 |
60.400 |
|
Total
Current Liabilities |
|
964.779 |
465.628 |
|
|
Net Current Assets |
|
1813.585 |
1817.269 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2972.140 |
2516.702 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
6113.000 |
3494.600 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
6113.000 |
3494.600 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1000.300 |
355.600 |
|
|
Provision for Taxation |
|
36.000 |
44.300 |
|
|
Profit/(Loss) After Tax |
|
964.300 |
311.300 |
|
|
|
|
|
|
|
|
Export Value |
|
5750.411 |
3343.016 |
|
|
|
|
|
|
|
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Import Value |
|
145.564 |
190.312 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
19.300 |
2.600 |
|
|
Depreciation & Amortization |
|
402.500 |
308.000 |
|
|
Other Expenditure |
|
4269.100 |
2517.800 |
|
Total Expenditure |
|
4690.900 |
2828.400 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
15.77 |
0.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
16.36 |
10.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
26.27 |
11.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.35 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.38 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.87 |
4.90 |
LOCAL AGENCY
FURTHER INFORMATION
Notes :
The subject was formerly known as Daksh Eservices Private limited and
changed to its present name i.e. “IBM Daksh Business Process Services Private
Limited with effect from March 11, 2005.
OTHER INFORMATION:
The subject
provides the following services to its clients:
Financial
Services:
IBM Daksh is providing support for a wide array of banking and financial
services products and services
Services:
· Information calls
· Account – verification, confirmation, fulfillment and maintenance
· Research , place investigations and resolution of queries
· Bill payments
· Technical Queries
· Welcome Calls
· Customer feed back program
· Sell sticky services
· Offer sales referrals
· Liability processing
· Collections
· Telesales for home loans
· Welcome and insurance calls
· Order / replace cards
· Skip tracing
Customer Care:
The subject is one of the largest customer care services provider in
India. The subject provides the following services:
· Customer retention
· Research escalated cases sand provide solution
· Cross – Sell / up sell purchases
· Complaint and query resolution
· Activation and charge of services
· Billing queries
· Product information support
· Order management
· Warranty / replacement support
· Booking and reservations
· Loyalty programs
· Account queries and maintenance
· Insurance claims calls
Technical Support
· Troubleshooting support
· Installation support
· Software usage and problems
· Application and desktop related queries
· Internet related issues
· Connectivity problems
· Up-sell / cross – sell services and products
· Computer hardware queries
· Product related services queries
· Product up gradation and accessories
Collections
· Telesales / Telemarketing
· Transaction processing and Back office Services
· Application processing
· Order fulfillment
· Information verification and confirmation
· Skip tracing
· Payroll processing
· Research , analyze and resolve escalated cases
· Account maintenance and changes
· Correspondence management
· Data Conversion
Insurance:
· Handle Voluminous Transactions services
· Claims processing / adjudication (traditional , managed care and coordination of benefits)
· New accounts application processing
· Data entry and data correction
· Customer services
· Coordination of benefits
· Outbound member satisfaction survey
Technology
First contact resolution and enhanced customer satisfaction
IBM Daksh has carved out a unique standing of having experience in a wide array of technical support processes, servicing clients such as a Fortune 50 Computer Hardware Provider and Fortune 1000 Financial Software Product Company.
IBM Daksh provides simple to high – end tech support including customer
service, product feature / services support and troubleshooting. We have
exceptional experience in supporting diverse hardware and software products.
IBM Daksh has successfully launched pilots followed by rapid increase in size
and scope without compromising on project on project metrics. We provide
flexibility to mange higher call volume and spikes. We also have migrated
clients processes to new channels of communication such as chat to provide
economic efficiencies.
Services:
Some of the
services include:
· Customers service for customer and SOHO
· Tech support
· Product support
· Application and desktop support
· Troubleshooting
· Installation support
· Software usage problems
· Sales
· Knowledge base management
· Payroll processing
Telecom:
Providing customer service, technical support, complex query resolution,
and back office services to their clients in telecommunications
Customer Care
IBM Daksh provides exceptional customer service to its clients and their
performance has made them the Beat Customer Care Partner for their clients. The
customer care services include:
Service
activations
· Billing queries
· Service / plan changes
· Order Fulfillment
· Product / services features support
· Equipment warranty and replacement program
· Cross – Sell and up sell
· Correspondence management
· Account maintenance
· Marketing strategies
· Sales and promotions
· Contract extension
E Commerce and Retail:
Services
· Customer Services
· Exceptions support for 1-800 numbers
· Inbound sales
· Technical support
· Telesales for extended warranty
· Telemarketing of co –branded credit cards
· Account maintenance and updation
· Fraud detection
· Inventory management
· Order processing
IBM Daksh, one of India Business Process Outsourcing (BPO) Company
launches its overseas facility in Philippines at Manila. The state of the art
facility over 2900 square meters is expected to employ 1000 people in the next
12 months, increasing IBM Daksh total strength to 10000 by 2005.
As the first Indian BPO company to start operations in the Philippines,
IBM Daksh aims to become one of the largest BPO Companies in the Asia – Pacific
region. This new state of the art facility is a full service BPO operation,
offering customer service, technical support and back – office transaction
processing services.
Awards and
Recognition:-
· IBM Daksh was ranked as the No. 1 Preferred Employer in the Dataquest – IDC BPO Employee satisfaction survey 2005
· IBM Daksh recognized as the Best Managed Outsourcing Vendor in the world by the Black Book of Outsourcing in 2005
· IBM Daksh was ranked as the No. 1 Employer by Dataquest – IDC in their BPO Employee satisfaction survey 2004
· Daksh chosen as the top Independent Brand player in the BPO Employee Satisfaction survey 2003 by Dataquest – IDC
· Daksh is a COPC Certified Company – a Worldwide Quality Standard for the Customer Service Provider Industry (CSP)
· Youngest Company among India’s top 20 Companies across different segments that are poised for global success , only player in the ITes Sector – study by BT , India most prestigious business magazine
· Ranked as the number 1 independent BPO Player in India by NASSCOM – the apex body for the IT industry in India
· Fortune 100 Telecom Major Star Award by one of the clients in February 2002 for excellence Outstanding customer service provided by a Contact Center.
· Awarded Dr. Jon Anton’s Certificate of Efficiency and Effectiveness by Purdue University , Indiana
·
Awarded Frost and Sullivan Market Engineering Award for
Customer Service Leadership 2001 in Indian Outsourced Call Center Market.
WEBSITE DETAILS:
History:
A report published by the Yankee group stated that in the US, '67% of online transactions were being abandoned due to inadequate customer support'. And with this, an idea was born. The year - July 1999. In no time, the entrepreneurial drive and the realization of opportunity within India became the two most important factors towards the inception of what would be the largest BPO service provider in India - Daksh. A core team of 4 members sprung into immediate action to put together a sturdy business plan which got them their first client and the first round of funding.
It was not a company that was created but a whole new enterprise, a potentially new industry that had no history and no business model to follow. All it had was sound leadership, a focused vision and an undying passion.
And today, IBM
Daksh...
· Is a Leading Continuous 'BPO' player.
· Has a strong platform of corporate governance.
· Has a 20000 strong team that has embraced the subject values.
· Is a winner of multiple globally recognized awards in the domain of employee and customer satisfaction.
· Has built a strong platform of quality around Six Sigma and COPC across the enterprise.
· Has 14 service delivery locations.
· Is known to be profitable since inception.
Subject offers business performance improvement rather than just cost-savings and is a step closer to Business Transformation Outsourcing (BTO).
By unlocking revenue generation through up-selling and cross-selling, improving customer satisfaction scores, optimizing capital use and reducing operational expenditure, Subject offers far-reaching and positive impact on shareholder value
Subject has worked with a pioneering group of global companies that have successfully used BPO and BTO to execute a broad range of strategies with strong results
An independent report in the US stated that more than two-thirds of online transactions were abandoned due to inadequate customer support. In India, a core team of four people thought about the implications of that report, and acted quickly. They put together a business plan that got them their first client and their first round of funding.
It was the first step in creating a new enterprise, in a new industry that had no history and no business model to follow. But what subject did have was sound leadership, a focused vision and an undying passion.
By 2003, the company employed around 5,000 people and was acquiring blue chip clients almost as quickly as it was attracting large numbers of ambitious and talented young staff.
In April 2004, IBM Corporation acquired Daksh e-Services to serve as a global hub to manage business processes for clients from across the world. With 14 service delivery centers in India (4 in New Delhi (NCR), 4 in Bangalore, 1 in Mumbai, Pune, Kolkata and Chandigarh each) and 2 in Manila, Philippines, Subject is a key part of a network of more than 36 BTO centers around the world. Today Subject employs more than 20,000 people and has won several major awards for employee and customer satisfaction.
Leadership Team
Milestones:
June 2006
IBM Daksh grows to 20,000 employees, up 234 percent from 6,000 employees at the time of its acquisition in April 2004.
May 2006
With over 20,000 employees, IBM Daksh emerges as the second largest business process outsourcing vendor in India, in terms of headcount.
March 2006
IBM awarded
eSCM-SP certification.
August 2005
Indian Telecom major Bharti Tele-Ventures partners with IBM Daksh as part of a deal to outsource its call centre operations for the next four to five years.
November 2005
IBM Daksh announces plans to double headcount at its three Indian centers within the next 12 months - raising staff numbers to 4,000.
December 2005
IBM Daksh announces the launch of three new outsourcing delivery centres with a total capacity of 2,100 seats. The company now has centres in Delhi, Mumbai, Bangalore, Pune, Kolkata, Chandigarh and Manila.
January 2004
Daksh e-Services launches new center in the Philippines
March 2004
Daksh e-Services implements Peoplesoft ERP
April 2004
IBM acquires Daksh e-Services in a $170 million deal.
November 2004
Daksh is rated Number 1 in the IDC Dataquest Survey of BPO employees
January 2003
We begin an inbound voice-based customer support project for an insurance
client. We insitutionalize voice and
accent competency as a Center of Excellence.
February 2003
Employee headcount now exceeds 3,000 people.
As the financial year ends, we open a fourth center in Mumbai and turnover now stands at $29.5 million
April 2003
Daksh commences relationship with a leading retailer - we provide inbound sales,
telemarketing and customer services
May 2003
Daksh receives prestigious COPC certification.
IBM Daksh wins first travel client - one of the world's largest airlines and a Fortune 500 company.
June 2003
Daksh now ranked as the largest independent BPO player in India by Nasscom, the
country's premier body for the IT industry.
Institutionalized "New Projects and Transitioning" as a Center of Excellence.
August 2003
We employee strength reaches 4,200. Daksh begins work for the world's leading
travel management company.
September 2003
Multiple projects ramp-up, employee strength now exceeds 5,000. The executive
team is expanded.
January 2002
Work begins on financial services (inbound and outbound)
March 2002
Close of financial years 2001-2002 sees Daksh with a turnover of $17.8million.
Daksh becomes the first Indian company to move to a model based on strategic
business units.
May 2002
General Atlantic Partners and Citi invest in Daksh.
June 2002
Daksh wins the Frost & Sullivan Award as the premier call center in India.
July 2002
Daksh begins working in the insurance sector as claims adjudicators.
August 2002
Our financial services operations expand to include auto loans, student loan
and sub-prime lending.
October 2002
Awarded Purdue University Certification.
November 2002
Daksh partners with a technology client for technology support.
December 2002
Multi-country expansion gets under way as Daksh's Asia-Pacific project begins.
Work for their insurance client expands to include voice and data entry processing.
January 2001
Headcount is ramped up to 650 people with e-support focus; a Fortune 1000
financial software leader
April 2001
Citigroup invests in the business. Daksh profitable in first year of business
June 2001
One of the world's leading Internet portals outsources for the first time, with
Daksh as a partner
July 2001
Telecom back-office and e-mail project begins. Daksh's second facility opens in
New Delhi
October 2001
Daksh begins voice operations for inbound telecom services.
December 2001
Second year sees Daksh headcount in excess of 1,300 people.
January 2000
Daksh sets up at New Delhi, India
March 2000
Daksh closes first round of funding by CDC Capital. Employee strength is just
seven people.
April 2000
Acquires first marquee client - a Fortune 500 eRetailer
News:
Match Point
Source: India Today
Woman, January 2008
Four companies redefine gender equality and are recognized by the Nasscom-India Today Woman awards for excellence in gender inclusivity as they strive to create work spaces for women that enable them to excel.
The IT Industry has been busy wooing women. And why not? A Nasscom study predicts that the percentage of women in the IT industry will grow from 30 to 45 percent by the year 2010.Gender inclusivity aims at creating work spaces to entice a college graduate, a career woman and a mother. Recognising this change, Nasscom and India Today Woman announced winners of the corporate awards for Excellence in Gender Inclusivity, recognizing companies that have implemented outstanding practices in promoting gender empowerment. The independent team of judges choosing the winning companies was a veritable who's who: N.R. Narayana Murthy, chairman, Infosys Technologies Ltd.; Aroon Purie, editor-in-chief, India Today Group; Kiran Karnik, President, Nasscom; Vinita Bali, managing director, Britannia Industries Ltd., Hema Ravichander, strategic HR advisor and Rekha Jain, professor, IIM Ahmedabad.
IBM Daksh
Award for Best
ITES-BPO Company
When the policy makers at IBM Daksh sat down to review its work space and employees, they realized that of the potential talent in the country, women were an untapped resource. Drawing from the DNA of their mother company, IBM, Daksh decided it was time to tap into that untouched talent in an aggressive manner. At first, says D.P. Singh, vice president, Strategic HR, the company focused on bringing in diversity at senior levels. "Being a young industry, BPOs didn't have that traditional mindset", adds Seema Ajwani, general manager, Work Force Relations. Daksh also put in place programmes like self-defence workshops and a mentoring system. These policies, Ajwani said, are good for business and encourage diversity of thought. At the same time, she believes that just like the company's clients and consumers are a diverse mix, the same should be the case within the company that services the outside world.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.02 |
|
UK Pound |
1 |
Rs.79.44 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|