Global sourcing in European and North American FS

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Global sourcing in European and North American FS
Market Report, April 2005, 1836 €

Description

IntroductionThis report analyses the role of global sourcing strategies in European and North American financial services, highlighting the key trends and opportunities as well as the barriers that continue to prompt a skeptical approach to offshore sourcing by many FSIs.ScopeThe report draws on over 400 interviews with key IT decision makers in banks and insurersThe report benifits from in depth interviews with all the key global sourcing vendorsThe report covers global sourcing trends in North American and European financial servicesHighlightsApplication outsourcing has developed from a workload capacity management solution, for bespoke application development requirements, to an increasingly strategic solution.
As a result, FSIs are increasingly outsourcing large portions of, or all of the application services function to concentrate on specific areas of core expertise.Vertical offshore BPO (offshoring of industry specific processes and operations) is gradually gaining momentum and looks set to grow rapidly over the next yearsDatamonitor believes that FSIs with captive offshore operations will increasingly encounter the same staffing and retention problems that many vendors have experienced.Reasons to PurchaseImprove FSI targeting through Datamonitor's propietry datasets on global sourcing strategiesCompare your companies performance to market leaders on key global sourcing parametersEnhance your competitive positioning through improved understanding of FSI drivers and the competitive environment

Sommaire

TABLE OF CONTENTS

CHAPTER 1 EXECUTIVE SUMMARY 3

CHAPTER 2 MARKET CONTEXT 8

Introduction 8

Key findings 8

Scope 10

Background: offshore sourcing has gathered pace over recent years, but the real sourcing story starts here… 10

Application outsourcing services get strategic scope 11

Changing deal structures in application services is improving FSI acceptance 11

Moving to critical systems 12

Vertical offshore BPO - gradually gaining momentum 13

Process diagnostics offered as precursor to BPO pilot 14

A growing number of vendors have established increasingly global/international fulfillment models 14

Vendors have increasing sector expertise 15

Core vertical FS processes are increasingly starting to be offshored 15

Offshore markets and operating models are maturing 17

FSI attitudes: the vindication of global sourcing is in the experience 18

FSIs need to develop pragmatic global sourcing strategies / comprehensive choice in near- and offshore sourcing destinations is the linchpin to widespread global sourcing take-up 20

CHAPTER 3 COMPETITIVE DYNAMICS 22

Introduction 22

Key findings 22

Vendors fit into three main categories 23

Credible vendor coverage is increasing 23

CHAPTER 4 THE FUTURE DECODED 23

Introduction 23

Key findings 23

Offshore outsourcing is a small share of overall global sourcing spending 23

Growth drivers for offshore outsourcing are region- and even country-dependent 23

Growth will be fastest in BPO and greatest in application services 23

CHAPTER 5 APPENDIX 23

Abbreviations 23

Forecasts and assumptions 23

Future readings 23

SPP writing team 23

LIST OF TABLES

Table 1: Origination based region growth will be largely similar although captive operations conversion will drive higher North American spending growth 23

Table 2: Market growth of ˜ $1bn: in the short term growth is more driven by service type than line of business 23

LIST OF FIGURES

Figure 1: Idealized FSI decision making process 16

Figure 2: Offshore BPO maturity model 17

Figure 3: Actual offshoring remains confined to a relatively small part of the financial services industry – but clear evidence of polarization as offshore leaders continue to offshore 19

Figure 4: Vendor categorization 23

Figure 5: Vendor coverage of the market is improving, but FSIs have limited choice in higher value segments 23

Figure 6: Sourcing market coverage 23

Figure 8: Origination based region growth will be largely similar although captive operations conversion will drive higher North American spending growth 23

Figure 9: Market growth of ˜ $1bn: in the short term growth is more driven by service type than line of business 23