CIOL - neoIT Enter IT Outsourcing Pact

Cyber India Online Limited (www.ciol.com), a premier Indian IT Portal, today entered into a strategic alliance with neoIT, the leading global IT services marketplace, which will result in the first of its kind offering in the country to bring the global IT outsourcing community together. Under the agreement, CIOL will build an IT outsourcing Web site, powered by the expertise of neoIT, where global buyers can learn about Indian software services market and firms and Indian IT companies can bid on projects from all over the globe.

"There is a growing demand for IT services globally. It is increasingly going to be difficult to meet IT needs internally. We see a trend towards greater acceptance of outsourcing-not just basic IT but core development including mission critical applications," said Pradeep Gupta, Managing Director, CIOL "Also, IT services like call centers, biotech, test and verification and technical support services will see an exponential increase in outsourcing," added Mr Gupta.

"As these businesses are under immense pressure to be competitive in the global marketplace, they face an urgent need to outsource their IT projects. And, India is fast becoming a leading destination for such outsourced projects. Our alliance directly brins these buyers to the Indian software firms." Says Avinash Vashistha, Co-Founder and Managing Director, of

neoIT.

"The site will have relevant information and services for Buyers and Providers, thus encouraging the growth of IT outsourcing. The site will also drive at portraying India as a hot destination of global majors for outsourcing IT projects" said E Abraham Mathew, President,

CIOL.

The neoIt engine, which will be powering the CIOL outsourcing site, will have enormous value propositions for both Buyers and Providers. Some of the biggest benefits to the providers is access to global markets and global IT projects, significant reduction in sales and marketing costs and an online project tracking and collaboration engine. The buyers using this engine would also experience benefits such as enhanced speed to market, access to high-quality Indian providers, verification of provider quality, online project administration. These advantages directly result in time to market and cost reduction for the buyers. While, the provider segment, will be able to reach out to an otherwise difficult and expensive global market. The neoIT engine also offers global consultancy in IT strategy, systems analysis, RFP, project management and marketing.