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Information Services Group,[link widoczny dla zalogowanych], Inc. (ISG) (NASDAQ: III) (NASDAQ: IIIIU) (NASDAQ: IIIIW) , an industry-leading information-based services company, announced today that its business unit TPI, the largest sourcing data and advisory firm in the world, has signed an agreement to help Huaqiao,[link widoczny dla zalogowanych], a satellite zone of Shanghai, take the lead in expanding the outsourcing market in China.
Under the agreement, TPI will assist Huaqiao with the creation of China's first operating protocols and standards for outsourcing industry participants. The protocols and standards,[link widoczny dla zalogowanych], which will address issues such as business setup, data privacy, intellectual property, measurement and reporting systems and training and education, are designed to increase the city's appeal to global sourcing buyers, service providers setting up delivery centers and global corporations building captive or shared services centers.
Huaqiao is an economic development zone in China dedicated to services outsourcing. The Huaqiao International Service Business Park, located just 12.4 miles (20 km) east of central Shanghai, is expected to become a hub of financial services outsourcing (FSO) and business process outsourcing (BPO) activity,[link widoczny dla zalogowanych], with an anticipated workforce of 300,000 and a productive capacity of $15 billion within five to 10 years.
"We are very pleased that TPI is working with us to strengthen our position in the global outsourcing marketplace," said Ren Xueyuan, chief executive of Huaqiao. "We believe Huaqiao is the most dedicated service sourcing industry park and that dedication and focus give us a strong advantage. As we aim to be a leading global service sourcing location, we've increasingly realized the need to align with global operating protocols and standards. TPI's unparalleled sourcing experience and expertise will help us address that need and make Huaqiao and China attractive destinations for both the buy and sell sides of the industry."
ISG launched TPI in China in March with the opening of its Hangzhou-based Training and Assessment Center to provide advisory services and information to both buy- and sell-side clients. In May, ISG signed agreements with the Chinese Ministry of Commerce (MOC) and a strategic cooperation agreement with the China Council for International Investment Promotion (CCIIP) to work together on accelerating the growth of the country's emerging IT and business process outsourcing sectors.
"TPI is a very important strategic partner of CCIIP and we are looking forward to working with its global experts and their unique resources to speed up the development of China's sourcing market," said Madam Zhou Ming, Executive Vice President and Secretary General, CCIIP. "Huaqiao represents a first step in this journey."
Added Zhou Wei Qiang, Vice Mayor of Suzhou: "China needs to find its own way to stand out from countries such as India and attract more attention from global first-tier buyers. We are looking forward to TPI's success in helping Huaqiao."
Said Michael Rehkopf, TPI Partner and Head of TPI China: "This is another step in our continuing efforts to help develop a strong outsourcing industry in China. With this agreement, Huaqiao is demonstrating leadership that should inspire confidence in corporations around the world that are looking to China to be the next major sourcing market."
"We are pleased to be a partner with Huaqiao in strengthening China's outsourcing sector," said Michael P. Connors, Chairman and CEO,[link widoczny dla zalogowanych], ISG and TPI. "China is an extremely important market for ISG and TPI and for the sourcing industry as a whole and we are excited to be participating in its further development and growth."