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There is a great transformation in the way business functions, and the clear-cut need today is to improve the quality and efficiency of essential services that matter to millions of people around the world. Serco is an international provider of business process outsourcing service focused in bringing a unique perspective to the BPO industry.

The company recently signed a new BPO contract with a large U.S. financial conglomerate to provide HR outsourcing services in India.

"This is a significant win for us and we are delighted to collaborate with a company that is a leading issuer of credit cards and financial products,” Susir Kumar, chief executive of Serco Global Services, said in a statement.

As per the terms of the agreement, Serco has been chosen as an exclusive partner and will operate as a talent acquisition and transformation partner. The deal will now allow the company to deploy over 350 personnel across 11 locations in India in the next four months.

The global HR BPO market is valued at $42 billion as of 2013 with the Asia Pacific market at $3 billion.

Serco claims that it is well positioned to capitalize on this market.

"Our specialized Human Resources Outsourcing (HRO) offerings enable customers to embark on the HRO journey easily and realize benefits promptly,” said Bhupender Singh, chief executive officer of Serco Global Services – Asia, Middle East and Australia (AMEA).

Singh also highlighted about the wide offerings of Serco’s HRO services to a range of public sector customers, covering processes such as HR and payroll administration, benefits and pension's administration and recruitment process outsourcing. Its offshore operations processes over 600,000 payroll records and around 80,000 resumes annually for corporate clients in the U.K., Australia and domestic Indian market.

Serco is committed to delivering value and helping its clients achieve significant business outcomes. The company’s expertise in the financial services market and predominant play in the Indian market combined with a strong culture of operational excellence has helped it to deliver superior offerings in this engagement and support its client in its growth strategy.