FREMONT, Calif., Nov. 21, 2012 (GLOBE NEWSWIRE) -- iGATE (Nasdaq:IGTE), the first integrated technology and operations company providing Business Outcomes-based solutions, today announced an aggressive campaign to take on the dated-yet-prevalent 'Time & Materials' (T&M) outsourcing model used by majority of the IT Services companies globally. This multi-media and multi-million dollar campaign is targeted at mega corporations in key global markets such as North America in order to shift the outsourcing model from an 'efforts' based model to a strategic 'results' based approach.
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The T&M outsourcing model, used primarily since the onset of the IT industry, comprises of billing clients based on hourly efforts provided by vendors. iGATE aims to dispel the model with its Business Outcomes proposition enabled by its proprietary iTOPS (Integrated Technology and Operations) platform.
Phaneesh Murthy, CEO, iGATE said, "The old model of IT vendors getting paid on a flawed metric of effort without any risk being shared, is dying in today's times. Corporations are now moving away from the T&M model that has curbed innovation in the IT industry."
Through its campaign, iGATE will target several forms of media highlighting the need for corporations to shift to the Business Outcomes way of working with its partners.
About Business Outcomes
iGATE's industry-first Business Outcomes-based approach focuses on the realization of tangible and measurable results, unlike traditional models which are driven by work, effort, time and manpower. By integrating technology and processes in a proprietary way and pricing services on results, iGATE exchanges fixed costs for a variable cost structure in an attempt to get clients to 'pay for results only' while enabling them to adjust to the peaks and valleys of their demand.
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE's multi-location global organization has a talent pool of over 27,000 employees and consistently delivers effective solutions to over 300 clients including Fortune 1000 and Global 2000 companies spanning verticals such as: banking and financial services; insurance, healthcare and life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; communication, energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information. iGATE Corporation is listed on the NASDAQ Global Select Market under the symbol "IGTE."
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CONTACT: For further information, contact Prabhanjan Deshpande "PD" Corporate Communication and Media Relations PD@igate.com +91 80 4104 5006