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Syntel: IT Provider

July 28, 2014

Syntel, Inc. came to life in 1980 and was founded by Bharat Desai and Neerja Sethi to provide software services. In its first year of operation revenue was at $30,000. Today the firm provides information technology and knowledge process outsourcing (KPO) services globally.

From its less sophisticated origin Syntel now does business in four segments: Applications Outsourcing, KPO, e-Business and TeamSourcing. The Applications Outsourcing segment offers outsourcing services for ongoing management, development, and maintenance of customer business applications. The KPO segment provides outsourced solutions for knowledge and business processes. This segment concentrates on middle and back-office business processes of the transaction cycle in capital markets, banking, healthcare, and insurance industries.

The e-Business segment offers technology services in the areas of architecting, implementing and maintaining, Web solutions, data warehousing, business intelligence, enterprise application integration, business process management and enterprise resource planning solutions. The TeamSourcing segment offers professional IT consulting services to customers on a staff augmentation basis. Its services include systems specification, design, development, implementation, and maintenance of complex IT applications involving computer hardware, software, data, and networking technologies and practices.

The firm has shifted its business model in many ways. Currently, almost 80 percent of its revenues come from e-Business services and Application Outsourcing. Knowledge Process Outsourcing is where 20 percent of the revenues come from. Syntel has also radically altered how it delivers services, pioneering an on-site, offshore approach that gives customers the ideal flexibility.

Syntel highlights the fact that around 90 percent of its revenues are repeat or referred customers, having one of the best rates in the services business.

The firm offers its services to a range of companies in the financial services, healthcare and life sciences, insurance, manufacturing, retail, logistics and telecom industries. Today Syntel has grown to become an $800 million company with a market cap of more than $3.7 billion. It has over 24,000 employees and over 24 offices and Global Development Centers located worldwide.

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