Financial Outsourcing to Asia

Emerging Markets:

Visiongain
Management Report May 2004

Visiongain’s latest financial report ‘Outsourcing to Asia’ provides the definitive insight into offshore outsourcing in the global financial market today. visiongain’s ‘Outsourcing to Asia’ provides the most comprehensive account and detailed forecasts and analyses of cost savings, job losses and anticipated job transfers from the US, Europe and Asia to the offshore hubs based within Asia. What is more these predictions are based on an approximation of outsourcing behaviour up to and including 2012. Given the radical increase in outsourcing to Asia within the financial arena, and its dramatic surge in popularity amongst the prominent financial moguls, Aviva, AXA, Barclays, Citigroup, Goldman Sachs, JP Morgan Chase, HSBC and Prudential, this is a report that no financial services division or institution can do without. This report examines every the many facets of outsourcing and offshoring, and most importantly explores: • The various breeds of outsourcing that exist in the market today; • The objectives of outsourcing; • The functions that are being outsourced and the extent to which they are being performed successfully; • The driving forces behind outsourcing; But are the perceived benefits actually true? This unique report examines the issues of - Generating cost savings; - Creating job in less developed economies; - Enabling onshore staff to focus on more core competencies; - Improving customer service; - Improving company disclosure; and - Providing an impetus for change. Or are the issues that have been effecting companies who have already outsourced to Asia likely to effect you? - Creating onshore job losses; - Enabling valuable data to fall into competitor’s hands; - Generating costs in excess of expectations; - Undermining importance of in-house knowledge and expertise; - Highlighting cultural differences, such as language barriers, time zone differences etc. This report contains unique specific case-studies from leading banks including: - JP Morgan Chase; - Deutsche Bank - Citigroup Inc; - HSBC; and - Barclays. While each company's shareholders demand growth, in contrast to the industry's ability to generate return on capital employed, outsourcing may be the best and most effective solution. What are the sacred core competencies that your organisation cannot outsource? If outsourcing is the answer, then where in Asia will suit you best and what are the key factors to be borne in mind when considering outsourcing to the Pacific Rim, focusing predominantly on India and China? These are just some of the questions this report will answer for you. Given the controversy surrounding this topic, ranging from the consumer uproar to outright political opposition, outsourcing is a strategic vehicle that can not be ignored. Therefore, any financial division or institution looking to slash costs who have not yet explored the option to outsource, particularly offshore, will find this an invaluable aid in determining this decision. - What level of success must be achieved by those who have outsourced to consider the project truly effective? - Discover which financial functions have not been outsourced effectively - Which financial functions have intentionally not been outsourced and why? - The yardstick of financial success that would induce other companies to outsource. Over 170 pages of analysis including charts, graphs and tables, with trends and forecasts till 2012. Company-specific information is also provided.

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