Three BPO firms battle it out for mega Citigroup outsourcing deal

Citigroup outsourcing

Business process outsourcing (BPO) firms Tata Consultancy Services (TCS), Infosys and Wipro are battling it out for Citibank’s outsourcing contract that was worth USD2.5 billion in 2008. The contract was awarded to TCS in 2008 for a 10-year period. Don Callahan, head of operations and technology at Citigroup Inc, has reportedly visited the headquarters of India’s top three IT services exporters as part of a 12-18 month process during which Citigroup will decide the work it wants to outsource as well as the contract size and duration. One IT analyst said all three BPO companies will be aggressively competing for the deal, describing Citi as a brutally tough customer. Aside from the three BPO giants, the Citi outsourcing deal is also expected to invite bids from foreign and Indian technology vendors. The contract is set to be awarded by March 2018.