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Progeon and Aceva form partnership for outsourcing needs
July 21, 2004
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San Mateo, Calif., and Bangalore, India.  -- Aceva Technologies, Inc., a provider of enterprise software applications for optimizing working capital, and Progeon Ltd., a business process outsourcing (BPO) company, have formed a strategic partnership to comprehensively address the business needs of clients outsourcing their order management and accounts receivable functions. Aceva will provide software product technology designed to streamline the quote-to-cash process, and Progeon will manage the knowledge transfer and execution of the actual order management and accounts receivable process. The combined value proposition is expected to maximize the financial and operational benefits for clients through the use of best-in-class outsourcing solutions combined with industry leading software technologies.

"As organizations look to us to outsource their F&A functions, we are committed to delivering the industry's leading solution that addresses their comprehensive needs," says Akshaya Bhargava, CEO of Progeon. "Aceva is a natural partner because of their innovative and deep technology solutions in this space."

The Aceva Working Capital Management Suite enables global corporations to maximize their financial performance by minimizing accounts receivable and reducing revenue leakage while improving customer satisfaction. Progeon, a subsidiary of Infosys Technologies Ltd, is a business process outsourcing company based in India, which, through its Global Delivery Model, provides clients cost-effective solutions based on sound technical and process excellence.

"Progeon's extensive domain expertise and demonstrated track record for migrating key business processes offshore makes them an ideal partner for Aceva," says Sanjay Srivastava, COO of Aceva. "We are already installed in many captive service centers and this is a natural extension for us to provide the same solutions through a leading BPO partner."

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