Mumbai, India and San Mateo, Calif: Progeon, a leading business process outsourcing (BPO) company and Aceva Technologies, Inc., a leading provider of enterprise software applications for optimizing working capital, have entered into a strategic partnership to comprehensively address the business needs of clients outsourcing their order management and accounts receivable functions.

Progeon, a subsidiary of Infosys Technologies is among the leading business process outsourcing company based in India, which, through its global delivery model, provides clients with faster, high-quality and cost-effective solutions based on sound technical and process excellence.

For clients this represents a unique opportunity to simultaneously take advantage of the cost and process improvements offered by BPO and technology-enabled efficiencies afforded by best-of-breed software solutions in a well managed, risk mitigated fashion.

Aceva will provide software product technology designed to streamline the quote-to-cash process, while Progeon will manage the knowledge transfer and execution of the actual order management and accounts receivables 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's leading software technologies.

The Aceva working capital management suite enables global corporations to maximize their financial performance by minimizing accounts receivables and reducing revenue leakage while improving customer satisfaction. Together, the two companies are bringing robust and comprehensive industry leading solutions to clients through this forward-thinking partnership in the f&a space.

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

"Progeon's extensive domain expertise and demonstrated track record for migrating key business processes offshore makes them an ideal partner for Aceva," stated 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," he added.

Progeon, among the leading BPO (business process outsourcing) companies in India is focused on end to end process outsourcing for major global customers across industries. Incorporated in April 2002 as a subsidiary of Infosys, India's second largest software exporter with revenues that exceeded $1 billion in 2003-04, progeon leverages the infrastructure, management practices and talent depth of its parent company and has world-class expertise in process management, process outsourcing and ongoing process improvements.

Aceva Technologies with headquarters in San Mateo Calif, US, is a leading provider of enterprise application software solutions for optimizing working capital. The Aceva working capital management suite enables global corporations to maximize financial performance by reducing accounts receivable and minimizing revenue leakage. Aceva's products for dispute prevention, collections management, vendor managed inventory and deductions management provide a comprehensive approach to optimizing working capital.