The ProsWhy do financial services firms decide to outsource back-office business processes?
Here are the top reasons (in order of importance):
* To improve service levels
* To migrate to a new technology
* To focus on the core business
* To supplement IT staff
* To reduce capital costs
* To align IT with business goals
* To reduce transaction costs
* To gain process knowledge
* To enable e-business strategy
The Cons
Why wouldn't a financial services firm want to outource back-office business processes?
Here are the top obstacles (in order of importance):
* Perceived higher cost
* Perceived lower quality of service
* Fear of losing control
* Company culture
* Threatens the team
* Employee unrest
