August 10, 2005
Business Process Outsourcing becomes increasingly vertical in end-to-end solutions
In an effort to avoid compliance difficulties and cut their bottom line, increasingly financial services firms are looking to enter into end-to-end outsourcing solutions. While financial services companies have in recent years made an effort to outsource more and more horizontal business processes, such as human resources, finance, accounting, and procurement, they have not yet embraced vertical outsourcing. The shift towards more vertical outsourcing ventures comes in response to increasingly complex accounting and procurement regulations. In part, some of these new laws and regulations are due to Sarbanes-Oxley. Because new laws and regulations require constant vigilence and investment, some companies are choosing to simply move all the work out of house. This is creating a need for specialized outsourcing companies which are able to provide increasingly vertical services. Silicon.com reports:
In addition, increased cost pressure in retail banking and the need to stem costs in financial markets makes BPO particularly attractive, according to Datamonitor.
Read More: BPO: Financial firms eye up end-to-end outsourcing
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