Vsource Appoints Two Key Executives to Launch Human Capital Management Services

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Share Name	Share Symbol	Market	Type
Vsource New (MM)	NASDAQ:VSCE	NASDAQ	Common Stock

Vsource (NASDAQ:VSCE)
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From Dec 2019 to Dec 2024

Vsource Appoints Two Key Executives to Launch Human Capital Management Services LA JOLLA, Calif., Dec. 9 /PRNewswire-FirstCall/ -- Vsource, Inc. (BULLETIN BOARD: VSCE) , an innovative leader in providing customized global business process outsourcing (BPO) services to clients worldwide, today announced the launch of its newly expanded Human Capital Management (HCM) services for small and mid-market businesses in the U.S. Vsource has selected two industry veterans, Ted Crawford and Howard Buff, to spearhead the HCM services. (Logo: http://www.newscom.com/cgi-bin/prnh/20030910/VSCELOGO ) According to Phil Kelly, Vsource Chairman and CEO, the company's entry into the HCM business reflects Vsource's ongoing commitment to growth and expansion into new markets to better serve clients around the globe. "After years of delivering superior BPO services to clients worldwide, we are truly excited about expanding into the HCM market," said Kelly. "Through our unique service delivery model, Vsource is able to bring the exceptional service levels typically reserved for our Fortune 500 and Global 500 clients to small and mid market business owners." According to Gartner Dataquest, the human resource outsourcing market is expected to grow to $55 billion by 2005. "Vsource has developed its HCM solutions to meet this growing market need," said Braden Waverley, President of Vsource. "Our HCM services will focus on helping small and mid-market businesses achieve operational efficiencies and increase productivity, while reducing cost and risk." Vsource offers a complete range of outsourced HR solutions, which include: Human Resource Management; Health and Welfare including a comprehensive medical package; Administrative Services including payroll and regulatory compliance; and Risk Management. Vsource has selected Ted Crawford and Howard Buff to lead the development and execution of HCM solutions. Mr. Crawford joins Vsource as President of HCM Solutions and brings tremendous depth of experience in the HR outsourcing industry. He has held executive positions at leading companies such as Administaff, Alliance One, and C.S.I. Howard Buff will serve as Chief Operating Officer of HCM Solutions and will oversee all operations, insurance and administration functions for the HCM division. Mr. Buff hails from Administaff and Paychex with over 18 years of senior management experience within the business services industry. "We have selected executives with the experience and leadership crucial to providing the best total HCM services to benefit our clients," said Kelly. "As we expand our service offerings, these talented individuals will be instrumental in guiding our efforts as part of our commitment to providing the highest level of service to small and medium sized businesses." About Vsource -- Vsource, Inc., headquartered in La Jolla, Calif., provides customized business process outsourcing (BPO) services to clients worldwide. Under Vsource Client Outsourcing Solutions (COS), Vsource delivers superior BPO solutions to Fortune 500 and Global 500 organizations. Vsource COS include: Human Resource Solutions, Warranty Solutions, Sales Solutions, and Vsource Foundation Solutions, which include Customer Relationship Management (CRM), Financial Services, Travel and Expense Claims, and Supply Chain Management (SCM). Under Vsource Human Capital Management (HCM) solutions, Vsource delivers Fortune 500 reliability to small and medium-sized businesses in the U.S. HCM solutions include: HR Management, Health & Welfare, Administrative Services, and Risk Management. For more information, logon to: http://www.vsource.com/. Forward Looking Statements: Some of the statements in this release and other oral and written statements made by us from time to time to the public constitute forward-looking statements. These forward-looking statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, without limitation, statements with respect to anticipated future operating and financial performance, introduction of services and growth opportunities expected or anticipated to be realized by management. Vsource disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information, or otherwise. Factors that could cause or contribute to such differences include, but are not limited to reliance on one client and the expectation that revenues from this client will decline significantly, a potential requirement to redeem our Series 4-A convertible preferred stock if we fail to meet certain conditions by March 31, 2006, our limited experience in the business process outsourcing business, the new and unproven market for business process outsourcing services in the Asia-Pacific region, long cycles for sales of our solutions, complexities involved in implementing and integrating our services, fluctuations in revenues and operating results, economic and infrastructure disruptions, dependence on a small number of vendors and service providers, litigation, and competition. Other factors that may affect these statements are identified in our previous filings with the Securities and Exchange Commission. Vsource is a registered trademark of Vsource, Inc. Vsource Foundation Solutions is a trademark of Vsource, Inc. Fortune, Fortune 500 and Global 500 are registered trademarks of Time Inc. Vsource disclaims any proprietary interest in the marks and names of others. Vsource Media Relations Contact: Cindy Kim Direct: 858.456.4871 Mobile: 619.708.5277 http://www.newscom.com/cgi-bin/prnh/20030910/VSCELOGO http://photoarchive.ap.org/ DATASOURCE: Vsource, Inc. CONTACT: Cindy Kim of Vsource, Inc., +1-858-456-4871, or mobile, +1-619-708-5277, Web site: http://www.vsource.com/

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VSCE Vsource New (MM)