subject: Aarkstore Enterprise---back Office Outsourcing - Creating Business Opportunity For Banks In U.s. [print this page] Back office outsourcing creating business impact for banks in U.S.
Back office outsourcing is a strategy adopted across industries. The recession has brought about significant changes in the outsourcing space. These changes include outsourcing services such as customer relationship management, procurement outsourcing to improve customer focus and transparency in business processes, and outsourcing end-to-end processes instead of particular functions in the process.
The question is no longer whether to outsource back office or not, but whether to outsource it to a captive source or third-party vendor. Equally important is to identify the particular processes that a large, middle, or small sized bank should outsource to have maximum positive impact. Multi-sourcing has also emerged as a major trend, where a primary supplier functions as a contractor and arranges other suppliers, or a group of suppliers collaborate to offer a collection of services.
The report covers an overview of the U.S. business process outsourcing market and its segments for front, middle, and back office outsourcing. Back office outsourcing forms the largest segment, and is further categorized into the submarkets for finance and accounting outsourcing (FAO), human resource outsourcing (HRO), customer relationship management (CRM), and procurement outsourcing (PO). These in turn cover transformation services, which are value-added functions such as credit rating, forecasting, data mining, and customer need and attitude analysis.
The market overview section analyzes the features of the outsourcing solutions provided by different vendors in order to help banks to select a particular vendor for a particular function. The market share estimates of the vendors are based on publicly available information on deals.
The strategy formulation section analyzes the cost advantages of offshore captive centers set up by banks and vendors. It also offers a comparative analysis of established and upcoming offshoring destinations and their expertise. The report includes business case studies analyzing the strategies undertaken to overcome challenges with the help of outsourcing.
