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Bath, UK, 2nd September. eCODE — the European Centre for Offshore Development — today announced the successful Transfer and Migration of IFDL’s captive offshore development and test centre resources in Bangalore, India under a Managed Services brokerage deal to Collabera Solutions (Pvt.) Ltd. for an undisclosed sum.
The agreement was signed in April for subsequent cut-over in Q3 following an in-depth appraisal of the market by the "Captive ReLease" arm of eCODE acting as 3rd-party Trusted Advisors to independent Wealth Managememt Wrap platform leader IFDL, which is part of the Royal London Group — the UK’s largest mutual life and pensions company.
The deal sees the transfer and lease back of IFDL’s dedicated Indian software development and testing service subsidiary’s staff to Collabera, a leading third-party indigenous supplier. Cornerstone characteristics of the deal include negligible impact on Business As Usual to both technical delivery and IFDL’s ongoing Wrap business, minimal staff attrition, no loss of Intellectual Property Rights and full retention of the specialised know-how accumulated by the offshore staff over the past seven years.
Transition of staff and premises and changeover from physical equipment to a VPN-based (Virtual Private Network) delivery solution has now taken place under a predefined Transition roadmap, with Transfer successfully completing on 12th August, within the fifteen week period planned.
Software development and testing for the remaining life of the present system will continue to be carried out jointly at IFDL’s offices in Bath, UK and in one of Collabera’s several development and test centres in Bangalore, India.
“Captive ReLease” — the brokerage service offered by eCODE — brings together organisations wishing to dispose / divest of an offshore Captive and potential acquirers, with very firm emphasis being placed on both discretion and client confidentiality during the process.
The deal represents a landmark agreement for organisations such as IFDL that wish to divest themselves of running a fully owned offshore subsidiary but that still need to maintain continuity of IT development and test facilities combined with extremely low levels of staff attrition, BAU degradation and legal complexity.
Stephen Bullas, Managing Partner of eCODE said “eCODE has been acting as Trusted Advisor to IFDL for a number of years and was delighted to have been further engaged by them on this confidential and sensitive, business-critical project.
Following on from meetings with IFDL’s Board, eCODE was charged with identifying a shortlist of suitable partners for the Company — a partner that would stand-out from the crowd and be able to deliver not just continuity of development effort but, equally importantly, a first-class career progression plan to IFDL’s former Indian employees. We were able to do this by conducting due diligence on suitable candidate organisations gathered from our extensive database of onshore, nearshore and offshore service providers together with wide-ranging personal contacts, then managing the exhaustive tender process from a compiled shortlist of a dozen companies in the UK, Europe, the US and India.”
Hugo Thorman, Managing Director at IFDL commented, “We had a number of exacting objectives to meet during this project. eCODE quickly got to grips with our requirements and facilitated an efficient process to completion, importantly ensuring that the impact on our Indian employees was as smooth as possible.”
Martin Bamford, Managing Director at Informed Choice commented "Outsourcing non-core functions [to a 3rd-party provider] is a smart way to ensure a business stays focussed on what really matters."
For further information about IFDL, please visit either www.ascentric.co.uk or www.fundsdirect.co.uk
For further information about Collabera, please visit www.collabera.com
The results and predictions of an excellent study undertaken by Prof. Ilan Oshri, Director of the Centre for Global Sourcing and Services at Loughborough School of Business (UK) and Bob van Uhm, of the Rotterdam School of Management (Holland) appeared this week in "Professional Outsourcing Resources".
In it, they argue that the concept of captive centre is changing rather fast, and propound three principal predictions:
You can access the full article here.
eCODE Captive ReLease
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