HP and Bank of India Win IT Outsourcing Award

HP (www.hp.com) and Bank of India today announced that the companies' IT outsourcing engagement has been selected as the winner for the Outsourcing Center's 2005 Outsourcing Excellence Awards "Best First Steps" category.

The Outsourcing Excellence Awards recognize IT and business process outsourcing vendors and their clients for excellent achievement. To select the winners, a panel of judges reviewed all components of relationship structures and outcomes achieved among all of the nominations.

The "Best First Steps" category honors the vendor and client that have taken exceptional initial steps toward achieving the client's outsourcing goals.

Bank of India decided to outsource its IT environment to HP because it recognized that IT was necessary to increase productivity, standardization and drive competitive advantage, as well as to provide a unified interface for customers and produce faster time to market for new products and services.

Since IT was not a core competency, Bank of India decided to engage HP, which now provides IT outsourcing services, including the implementation and management of a core banking solution across Bank of India's 750 branches in India.

"Since our relationship with HP began more than a year ago, we've become more agile, able to focus more of our resources on our core competencies and as a result are providing a better banking experience for our customers," said D. Krishnamurthy, general manager, Information Technology, Bank of India. "We are delighted that these accomplishments are being acknowledged in the outsourcing industry."

As part of its contract with Bank of India, HP is implementing a data warehousing and document imaging solution, as well as building and managing a data center, disaster recovery site, help desk and call center.

"Since signing an agreement in February 2004, HP and Bank of India have begun implementing one of the largest IT outsourcing engagements in India and the financial services industry to date," said Steve Smith, senior vice president, HP Services.