Secova bags $5-mn HR BPO deal from US co

In the biggest HR outsourcing deals clinched by an Indian BPO, Chennai-based Secova eServices has won a $ 5 million contract from an American firm to provide health and welfare benefits services for its employees.

"The contract is for a period of five years. We will be doing health and welfare benefits for the employees of the US company, which is in the hospitality business," Venkat Tadanki, CEO of Secova services said.

The US company employs over 50,000 people, he said, without revealing the name of the client. About half of the employees are eligible for the health and welfare benefits services provided by Secova eServices.

Secova eServices, which specialises in payroll and health and welfare benefits business in the HR (human resources) BPO sector, would be providing the services from its US and Indian offices, Tadanki said.

By the end of second year, about 70 per cent of the health and welfare benefits services to the US client would be done out of India, he said.

The deal clinched by Secova eServices has catapulted India into the big league of emerging human resources outsourcing services, valued at $50 billion globally.