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Home > Business/Finance > Diversified Services > Business Outsourcing
BPO: the star of FSI spending growth in 2003
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| Published Date:
March 2003
Published By:
Datamonitor
Page Count:
15
Order Code:
R313-5594
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Introduction:
Business process outsourcing looks set to develop into one of the main outsourcing market in financial services in the next few years growing by $1.1bn from 2002 to 2005, a CAGR of 10.5%. Within the market however Datamonitor expects significant variations in growth as markets are at different levels of maturity and individual lines of business have different strategic priorities. The Future of Financial Services BPO analyses and identifies key growth segments by line of business and geography.
Scope:
* The brief covers the Western European financial services analyzing differences in attitudes to business process outsourcing take-up
* Retail banking, insurance and financial markets are all analyzed with key business processes outsourcing opportunities highlighted
* The report draws on extensive primary research with financial services institutions and key vendors operating in this market
Report Highlights:
Whilst BPO, as a professional service, is currently going through a first wave of demand, Datamonitor believes vendors must focus on addressing the basic inhibitors to take-up to continue to grow the overall market. More FSIs will still not consider BPO than will consider using the service. This proportion can and must be changed by addressing the fundamental inhibitors of take-up.
Corporate governance and partner control are pivotal issues for FSIs when considering BPO. The threat of post sign-up vendor problems is one which prevents many FSIs from considering BPO.
A key concern for the sustainability of growth in the BPO market is the vendor profitability on individual deals signed and vendors’ ability to continue offering the same attractive services to FSIs going forward.
Reasons to Purchase:
* Keep abreast of developments in attitude and take-up of business process outsourcing services in each financial services line of business
* Allows improved targeting of financial services institutions highlighting key opportunities in insurance, financial markets and retail banking
* Improves vendors' European financial services strategy planning providing market size and opportunities for all western European markets
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