For the months ahead, with a recent acquisition and two new contracts signed and another two possibly in the works, TCS, UK subsidiary, Diligenta is expecting a positive run. It has won two major life and pension contracts, the first is with the Phoenix Group which is an extension to an original agreements with the company and it will extend the contract until 2018. The second is a new contract signed with the Old Mutual International. The both contracts are expected to generate 250 million pounds in revenue in the UK bringing the number of policies Diligenta administers to 5 million from 3.6 million currently. In 2006, this is not bad, considering that Diligenta was set up. The contract wins a boosts, the company’s position, positioning it as one of the leading providers within the UK’s life and pension BPO market where TCS is the second largest insurance business process outsourcing provider in the UK, second to Capita.
To be worth more than 100 million pounds each, not only that but on the 3rd of September news broke out that at least two more prospective clients have approached the company for the potential outsourcing contracts. The cycle time for the deals to materialize in the case of Diligents is six months to a year. They will have something to share, but winning the deals validates their strategy. With th current contract won by TCS. The government very clearly understands and realizes that for the economy to grow. They believe that they will do anything to upset their applecart in any form or manner.
REFERENCE:
http://www.blog.infinit-o.com/tata-consultancy-services-tcs-diligentas-future/
