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KPIT Cummins to partner with Cummins Inc.

KPIT Cummins Infosystems Ltd. has announced that its wholly owned BPO subsidiary, KPIT Cummins Global Business Solutions, has reached an understanding to partner with Cummins Inc. to deliver Finance and Accounting services to Cummins entities worldwide.

Highlights:
This expansion in KPIT Cummins partnership will strengthen KPIT's capability in providing Integrated Services (IT, BPO and Engineering) to the Manufacturing Vertical.

KPIT Cummins Global Business Solutions will benefit from access to the global finance and accounting processes of Cummins Business Services, the shared services organization of Cummins.

GBS revenues from this partnership are expected to be USD 1 Million in the first year with a potential to grow into a USD 15 Million BPO business, annually, in 48-60 months

Finance and accounting BPO for manufacturing sector is expected to be a significant growth driver for KPIT Cummins and is expected to contribute approximately 10 percent of its revenues by 2009-2010

USD 5 Million will be paid upfront. Further payment of up to USD 5 Million will be payable at the end of fifth year depending on achievement of certain financial parameters.



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