Outsourcing in Financial Services: Cost Savings or Competitive Advantage?

Topics:
Strategic Management Tools
Tags:
Business Operations,
CMP Media,
Competitive Advantage,
Cost Savings,
Financial Service,
It Operations,
Outsourcing,
Outsourcing & Subcontracting
Source:
CMP Media

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Overview: Financial institutions are turning to business process outsourcing to save money. However, if properly managed, these arrangements can produce long-term strategic benefits. Today, institutions are finding real business opportunities in outsourcing various parts of their extensive IT capabilities. Outsourcing services covers a wide range of traditional service bureaus, Application Service Providers (ASPs), facilities management, and Web hosting arrangements. Thus, institutions should thoroughly understand their business case for outsourcing. In addition to the tactical and strategic cost reduction opportunities, access to the latest and greatest functionality and sophisticated IT development capabilities are powerful drivers that help institutions reduce the time to market of new products and maintain a competitive edge.

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Format: HTML | Date: Feb 2003 | Pages: 1

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