HOV Services launches DocuTracks 2.0 a Secure Online Collaborated Workspace to Manage & Share Information

December 29th, 2006, Mumbai: HOV Services LLC, a leading Business Process Outsourcing (BPO) provider servicing the Finance and Accounting (F&A) sector, has launched DocuTracks 2.0 (DocuTracks). A secure, online collaborative workspace, DocuTracks enables organizations to manage and share information within and outside their firewalls and is designed to maximize flexibility, ease, productivity and control. Globally, the market for Document / Workflow Management services is worth $8 billion and plays a key factor in the success of an organization as it helps streamline processes and simplify decision making.

DocuTracks simplifies business processes, improves communication and enables project collaboration and management through its straightforward interface that is intuitive and affordable. It provides businesses with seamless enterprise document access from anywhere, with collaborative editing and complete on-demand publishing capabilities.

DocuTracks boasts of a number of innovations such as an Alert System, which will create reminders pertaining to individual documents, and Keyword Search that allows users to search for documents on the basis of keywords rather than file names. Further, built on the cost-effective ASP model, it enables multiple users located in different parts of the world to read and collaboratively review documents by accessing a centralized storage repository.

"As companies grow in size, information management needs also increase and become more complex. Organizations need to communicate on a continuous basis globally and across multiple locations, both within and outside the organization, while complying with increasingly tough data security and regulatory compliance requirements such as SOX, GLBA, HIPAA and others. DocuTracks, with its several user-friendly and unique features and cost-effective service model will help bridge this gap.

At present, we plan to target four major verticals, namely, Mortgage, Legal, Insurance, Banking and Financial Services. Our workflow management services allow geographically dispersed decision makers to manage their processes on a secure, reliable, redundant and cost effective basis," said Mr. Anish Desai, HOV Services.
Over the past few years, companies are increasingly outsourcing their workflow management requirements to enable them to focus on core functions.

HOV Services is a portfolio company of HandsOn Ventures, a private equity firm with four sector funds under management. Its prime focus is in investing and acquiring companies in the financial services sector in the US, India and other growing economies, with the US and India being the current primary focus. Over the last five years, HandsOn has acquired more than a dozen BPO companies, restructured them and successfully taken the consolidated company, HOV Services Limited, public in September 2006.

HOV Services' BPO and international deployment strategies address the need for Accounts Receivable Management (ARM), Enterprise Management Tools and Services (EMTS) and Insurance and Tax Services (ITS), for customers.