Next Generation Outsourcing
Nasrin Janmohamed, Global Strategic Deals in Financial Services, Capgemini Outsourcing and Nick Ford, Head of Payments and Supply Chain, Capgemini Financial Services comment in on the current state of offshoring & outsourcing in financial services in a recent MCA report.
19 June 2008
Publication
The Management Consultancies Association (MCA) has released a new report highlighting the state of outsourcing & offshoring in financial services.
The report is based on a survey carried out by the British Bankers Association & MCA reveals that:
- The current credit crunch will drive a new wave of outsourcing and offshoring in financial services as cash becomes tighter
- Outsourcing is an established practice
- Offshoring is becoming an established practice
- Outsourcing has made organisations more competitive
- The use of outsourcing & offshoring has not led to job cuts
The report revealed that 90% of respondents have outsourced or almost a third
had offshored some part of their business. Nasrin states that “Outsourcing and Offshoring are not only increasing, but all predictions we made a year ago
are being accelerated by the current market decline”.
With the increasing use of outsourcing and offshoring, there are concerns about the future of these practices. Nick states that “Traditional outsourcing companies were not core to the business, now we see banks move to a different agenda, coming from a different area of the board which is focused on shareholder value and growth. Those that are successful will use global sourcing models to drive both cost and growth”.
To download a free PDF copy of the report at MCA.org.uk, click here.
For the latest news on Capgemini & Financial Services, click here.
Related links:
- Capgemini ranked no.1 global outsourcing vendor, Black Book of Outsourcing
- Collaboration across the globe - offshoring comes of age
- The Road to Successful Multisourcing
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