Cambridge Services' new facility in Bangalore

Cambridge Integrated Services, a $230m strategic global outsourcing provider, on Thursday announced the dedication of its new facility in Bangalore to accommodate its major growth and expansion plans.

The facility will augment Cambridge's existing capacity and complement the work being done for the Company's Development Centres in the USA, UK and Australia.

Cambridge focusses on the complex business of process consulting and transaction processing for insurance companies, healthcare organisations and financial institutions.

It also provides a myriad of services including mortgage application and renewal, medical billing, finance and accounting backoffice support, insurance claims administration and processing, inbound and outbound contact centres to support all these activities.

"The new facility that we have dedicated today in Bangalore is indicative of the growing demand for the specialised services that we provide," said Chris Sinclair, executive chairman, Cambridge, a Scandent Group company.

"The demand for knowledge-based transaction processing services in the insurance, finance and healthcare industries has never been greater, with malpractice crises, increasing worker's compensation costs, and expanding liabilities for companies all over the world driving growth for us. It is with great pride that we can today claim our position as the number two player in the BPO industry in India," he added.

With development centres on four continents, Cambridge's current employee strength of 2,300 is expected to nearly double by the year-end and revenue is targeted to grow to $300 million in the next 12 months. Of this the majority will be added at the India centre. As it grows its employee strength, Cambridge plans to make investments in training to ensure cross transfer of skills and resources across its global operations.

"We identified a business opportunity ahead of its time and have made significant investments in developing our human capital and engineering processes to offer the best quality products to our clients," said Satyen Patel, executive vice chairman, Cambridge.

"As we grow our business, we will stay focused on extending our vertical market expertise and international 'bench strength', enabling us to offer more speciality services," he added.