Kitcoff-APSI Selects Patni's Defined Contribution BPO Service
February 27 2006 - 9:07AM
PR Newswire (US)
Maximizes Consulting and Administration Profits Through Patni
Expertise CAMBRIDGE, Mass., Feb. 27 /PRNewswire-FirstCall/ -- Patni
Computer Systems
(BSE:PATNIBSE:COMPUTBSE:NSE:BSE:PATNIBSE:NYSE:BSE:PTI) today
announced that Kitcoff-APSI, a full-service employer sponsored
retirement plan consulting and administration firm, has opted for
Patni's Defined Contribution BPO Services. Patni's Defined
Contribution BPO provides the flexibility and speed necessary to
support Kitcoff-APSI's aggressive growth plans in the retirement
plan administration space. Kitcoff-APSI chose Patni for its broad
spectrum of insurance and technology expertise. Patni will assist
Kitcoff-APSI's existing business in the annuity and life space,
with domain knowledge that will extend into the brokerage space as
Kitcoff-APSI increases its market share within this segment.
Additionally, Patni's technology expertise has helped Kitcoff-APSI
smoothly transition to the InvestLink platform, following the
recent merger of Kitcoff and APSI. "At Kitcoff-APSI we have
consistently worked to improve the efficiency of our processes so
we can focus on providing improved and broader services to our
customers," said Dr. Michael Campo, CEO and Owner Proprietor of
Kitcoff- APSI. "Like Kitcoff-APSI, Patni's Defined Contribution BPO
suite stands out because of its scalability and ability to support
future growth and change, while continuing to improve performance."
Bill Budde, senior vice president and head of the Insurance
Business Unit, Patni said, "The small and medium business segment
is among the fastest growing and needs technology and industry
expertise support to be successful. Today, Patni's established
success within the SMB sector, combined with our ability to commit
dedicated financial technology will help players like Kitcoff-APSI
to continue on their path to success." Launched in June 2005,
Patni's Defined Contribution BPO Service is specifically designed
for companies expanding their offerings into lucrative defined
contributions segments such as 401(k) plan administration. The
service employs a "reverse ASP" model that leverages the customer's
existing IT infrastructure, eliminating the burden of migrating to
an unknown administrative platform. About Patni Patni Computer
Systems Limited
(BSE:PATNIBSE:COMPUTBSE:NSE:BSE:PATNIBSE:NYSE:BSE:PTI) is a global
IT Services provider servicing Global 2000 clients. Patni caters to
its clients through its industry-focused practices, including
insurance, manufacturing, financial services, telecommunications,
and its technology- focused practices. With an employee strength of
over 11,000 and multiple offshore development facilities across
eight cities; Patni has 23 international offices across the
Americas, Europe and Asia-Pacific. Patni has registered revenues of
US$ 450 million for the year 2005. Patni's service offerings
include application development, application maintenance and
support, packaged software implementation, infrastructure
management services, product engineering services, business process
outsourcing and quality assurance services. Committed to quality,
Patni adds value to its client's businesses through
well-established and structured methodologies, tools and
techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level
5 organization, assessed enterprise wide at P-CMM Level 3. In
keeping with its focus on continuous process improvements, Patni
adopts Six Sigma practices as an integral part of its quality and
process frameworks. For more information on Patni, visit
http://www.patni.com/. Safe Harbor Certain statements in this
release concerning our future growth prospects are forward-looking
statements, which involve a number of risks, and uncertainties that
could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding fluctuations in earnings, our ability to
manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in
India, our ability to attract and retain highly skilled
professionals, time and cost overruns on fixed-price, fixed-time
frame contracts, client concentration, restrictions on immigration,
our ability to manage our international operations, reduced demand
for technology in our key focus areas, disruptions in
telecommunication networks, liability for damages on our service
contracts, the success of the companies in which Patni has made
strategic investments, withdrawal of governmental fiscal
incentives, political instability, legal restrictions on raising
capital or acquiring companies outside India, and unauthorized use
of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our
future operating results are more fully described in our Red
herring filing. The company does not undertake to update any
forward-looking statement that may be made from time to time by or
on behalf of the Company. First Call Analyst: FCMN Contact:
DATASOURCE: Patni Computer Systems CONTACT: Brenda Chroniak of Text
100 for Patni Computer Systems, +1-617-399-4984, ; or Colin White
of Patni Computer Systems, +1-617-914-8337, Web site:
http://www.patni.com/
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