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But was has TCS to do with the British job market? TCS as a leading Indian outsourcing company owns a a call centre in a large, oriental-style building outside Peterborough where about 700 British people sit at desks, fielding customers' queries about their life assurance policies. The company who actually owns the call center is Diligenta andit was set up as a British subsidiary of TCS to establish "onshore" operations in the UK, specialising in total outsourcing of services for the life and pensions sector.
The interesting part is that Diligenta signed the biggest business outsourcing contract in the UK life assurance industry with Pearl, the closed fund group and is looking to seal more deals in the UK life assurance sector. The life assurance sector in UK is an industry with huge annual value and it seems that until now less than 15 percent of the companies in the sector have outsourced their operations.
David Power, chief executive of Diligenta explains that if a company is providing full outsourcing for another business, it has no option but to establish onshore capabilities. TCS is not the only Indian company to have made inroads into the UK - India is now the third largest investor in Britain after the US and Japan. According to Mr. Power the corporate perception of companies from the subcontinent is starting to evolve: "Some people are seeing that big Indian companies are not just playing the labour arbitrage game ... I was taking part in corporate games a few months ago, and the TCS/Diligenta team took part in a dragon boat race. I counted the nationalities on our boat: there were eight different nationalities out of 16 people. That's how global TCS has become."
It seems that it is one of TCS’s desires to become one of the top 10 global service providers by 2010.
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