In many cases, corporations business processes have become complex through decades of acquisition, divestitures, adoption of new technologies, and other changes/adaptations caused by the normal course of business. BPO offers the opportunity to clean up a specific function, optimize it for an organizations current operating structure, competitive environment, and technology platform. Moreover, the overheads of continuous optimization are low and flexibility, significantly large, courtesy the service provider. technology platform. Moreover, the overheads of continuous optimization are low and flexibility, significantly large, courtesy the service provider.
Goldman Sachs reports Although it is hard to generalize given the many different flavors of BPO, two examples from ACS (Affiliated Computer Services) highlight the compelling potential. (1) For one client, ACS cut its processing costs by two-thirds, and (2) for another client, it reduced the necessary staff by nearly 75%. Both were Fortune 500 companies. (Goldman Sachs; Technology: IT/Internet Services, March 1, 2001)
- Account Opening
- Foreign Currency Funds Transfer
- Local Currency Funds Transfer
- Signature Verification
- Imports & Exports trade processing
- Foreign Exchange Spot & Forwards
- Money Market transactions
- Loans processing
- Internal Controls
- Account Reconciliation
- Expense processing
- Payroll processing
- Fixed Assets processing
Estimates towards cost saves come to approximately USD 10 million, and FTE head count saves of 70, over a three year period.
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