Protiviti, a subsidiary of the world's first and the largest
specialized staffing firm
Robert Half International Inc
), has collaborated with technology services provider Xchanging
in order to provide legal and regulatory compliance related
services to Southeast Asian customers.
Xchanging provides managed business processes, technology
enabled outsourcing and procurement outsourcing services
internationally across multiple industries. With the help of
Protiviti's consulting services, Xchanging is making efforts to
help its customers with regulatory requirements, internal
policies and standard operating procedures.
We note that companies are nowadays increasingly focusing on
compliance with contracts and procurement policies. With this
collaboration, Xchanging will benefit from Protiviti's solid
consulting and internal audit services. In addition, Xchanging
will enable organizations to prevent financial leakages in the
purchase to payment (P2P) process.
Xchanging's customers may also gain from Protiviti's expertise
in vendor recovery, data privacy and security solutions. On the
other hand, Protiviti will be able to help organizations take a
disciplined approach to managing credit, market and operational
risks, especially in the procurement process.
Overall we remain encouraged with Robert Half's sound
fundamentals. The company is gaining from the growing demand for
specialized staffing and consulting services, particularly in the
U.S. Permanent placement, information technology staffing and in
Protiviti operations of the company are benefiting from improving
demand. Further, the improving global economic condition has
increased demand for the company's temporary and permanent
staffing services and risk consulting and internal audit
However, weak staffing demand outside the U.S., especially in
Europe, is hurting revenues. Further, we believe that currency
headwinds and a tough job scenario, particularly in Europe, are
denting the demand for recruitment services.
Robert Half holds a Zacks Rank #3 (Hold). Other stocks in the
business services sector that are performing well and are worth
), all carrying a Zacks Rank #1 (Strong Buy).
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