Mastek Ranked Among the Top 50 Global Outsourcing Providers

Mastek Ltd on July 05, 2007 has announced that its been ranked in the top 50 global outsourcing providers in The Black Book of Outsourcing published by the Brown-Wilson Group.

According to The Black Book of Outsourcing, the Company was "rated number one by insurance vertical clients in large part for developing end-to-end mission critical solutions." This independent ranking of global outsourcing vendors is based on surveys of C-level executives and other outsourcing decision makers.

Mr. Sudhakar Ram, CEO, Mastek group said on the occasion, "I am delighted to receive this great honor on behalf of the Mastek family. This recognition is a manifestation of the success of our strategic focus on providing world class IT solutions to all our insurance clients. This ranking validates the steady growth and customer acceptance from top life and annuity global insurance Companies of the end-to-end solutions we are providing at Mastek. We are pleased to have received the highest rating in the insurance segment".

He added, "Mastek works with top 8 insurance Companies in the world among the top 20 Companies and works with top 2 US insurance Companies out of three. In India, Birla Sun Life Insurance Company and Max New York Life Company among many others are using Mastek's "Elixir" for improvements in operational and distribution efficiency, and a considerable reduction in the time-to-market of new products. As a result, it has developed a strong maturity in life ITO and acquired customers in North America, Europe and Asia / Pacific."

Overall, the Company rated high in C-level commitment, corporate direction, leadership impact and human capital performance by the more than 20,000 survey respondents. The Company was recognized as an "outsourcing trailblazer," specializing in information technology and business process outsourcing.

This is the first year the Company has made this list and is indicative of its focus on software-enabled business solutions for the insurance industry.

The Company also was rated 11th in the Global Outsourcing 100 compiled by the International Association of Outsourcing Professionals (IAOP) last month, following a rigorous judged application process. The Company was recognized for its innovation and methodology.

Source : Equity Bulls

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