Surviving the Aftermath of a Lift and Shift Transition<\/a>).\u00a0 Being able to grasp – and live –\u00a0with such rapid change, and find a provider which can work with you to\u00a0ahieve that is the only way forward.\u00a0 Selecting the wrong provider in this market could be fatal.<\/p>\nFinancial Services<\/span><\/strong><\/em><\/p>\nIn financial services, the appetite to move away from captive-only support\u00a0models is helping many firms find new levels of cost-elimination, but also new flexible models for improving the delivery of their current services.\u00a0 Banking and insurance services aren’t changing that much per se, it’s how effectively<\/em> they are delivered to market that is providing the competitive edge.\u00a0 <\/span>Deploying more flexible and sophisticated global sourcing models, is the only\u00a0way to go for most financial services firms today.\u00a0 By staying with\u00a0 jaded and often expensive\u00a0captive operations, is holding many financial services firms back from being exposed to new ideas, new process flows, and\u00a0the new energy\u00a0some BPO providers can bring to the table, based on their experience with many other enterprises.<\/span><\/p>\nCore sourcing challenges:\u00a0 <\/strong>The majority of financial services enterprises are busily shopping their captives at present, and only a few will find willing service providers to buy them.\u00a0\u00a0\u00a0Most providers now\u00a0have the scale they need, and are only interested in specific niche competencies that give them new capability.\u00a0 Many financial service firms are facing the prospect of having to phase out their captive operations in order to move into a blended, or fully-outsourced, operational support environment.\u00a0 They will need to decide whether or not to write-off\u00a0years of investment in their captive operations,\u00a0in order to transform their delivery model.<\/span><\/p>\nThe Bottom-line:\u00a0\u00a0We’re caught in a\u00a0relentless pursuit of cost elimination and efficiency<\/span><\/em><\/strong><\/p>\nWe\u2019ve spent the last few weeks having intense dialog with buyers regarding how the uncertain, but recovering, economy, is impacting their stance on outsourcing, and the common thread is one of speed and urgency.\u00a0 There\u2019s a genuine impetus from business leaders to act on new efficiency drives that were formulated during the recessionary months \u2013 and global sourcing strategy is right at the heart of these.\u00a0 The conversations dominating this week\u2019s SSON show in Orlando left\u00a0us with the phrase \u201cthe relentless pursuit of cost elimination and efficiency\u201d firmly etched on\u00a0our minds.<\/p>\n
Our\u00a0argument with current BPO engagement models is that they have to encompass more<\/em> than simply a few administrative processes to be truly effective.\u00a0 If your BPO provider is only fulfilling a few standalone functions such as purchasing, or invoice processing, it’s going to be very difficult for them to achieve much more than a few dollars shaved off the labor cost, and perhaps some elimination of duplicate tasks and unnecessary process steps.\u00a0<\/p>\nIn order to find that next level of performance, you need to take a broader view of your entire global business operations and find ways to bring your BPO partner into the heart of your critical data management processes, so they can help you source unique and creative ways to be more productive and source new avenues for growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
There was a suggestion recently (see “Busting the Innovation myth”)\u00a0that innovation in back office operations wasn\u2019t important and it\u2019s all…<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,50,81,838,836,832],"tags":[364],"ppma_author":[19],"yoast_head":"\n
Why innovation in global business operations is critical for survival - Horses for Sources | No Boundaries<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n