Bangalore. After Deutsche Bank predicted that one USD could equal 70 INR within a month, IT companies are delaying their bills to get the best conversion rate, and thus increase their revenues.
“The IT managers have turned into Forex traders,” disclosed T Kumaran, an industry expert, “They are meeting deadlines to get repeat business, but are employing tricks to delay the billing.”
“Instead of an invoice, they sent us a feedback form asking if we were satisfied with their work,” confirmed a Vice President of a New York based investment bank, which is a client of one of the India based IT majors.
“We got a PowerPoint presentation with motivational quotes about how work was worship in Indian culture and that they (the IT company) valued our well wishes more than our payments,” another client disclosed.
Sources tell Faking News that the managers of the above IT company were so excited with the prospect of Rupee touching the 70 mark that they even forgot to create a timepass feedback form.
“They just googled a random ppt and sent it instead of the invoice,” a company insider confirmed.
Sources further reveal that the weakening of rupee has strengthened the resolve of many professionals to get onsite projects, which could become a cause for concern for the otherwise happy companies.
“They may delay the bills to the client, but I won’t tolerate any more delay in my onsite posting,” a member of the e-Mazdoor Ekta Sangathan warned.