2010 Outsourcing in the Financial Services Sector

Introduction

In recent years, the global financial markets were amidst the center of the worst crisis since the Great Depression of the 1930s. The impact was felt in terms of work outsourced by the FS sector. The aggregate TCV of outsourcing contracts declined since 2007, however, the number of outsourcing contracts improved in 2010 over 2009.

Features and benefits

* Results of the world's largest primary research project on customer satisfaction with outsourced service provision.
* Analysis of outsourcing activity by geography and service type within the global FS sector.

Highlights

Datamonitor expects the global market for IT and business process outsourcing in the FS sector to reach $332bn, growing at a CAGR of 9% during 2008–13.

Your key questions answered

* Which outsourced service providers provide the highest levels of customer satisfaction?
* What factors do FS clients consider most important when assessing satisfaction with outsourced service delivery?
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Executive Summary
Requirements awareness is the most important criteria
KPO players led the customer satisfaction ranking
Decrease in FS outsourcing activity
Players with varying capabilities and sizes address FS outsourcing requirements
Regulatory changes to create demand for outsourcing
Nearshoring is the current trend
Emergence of alternative platforms of service delivery in the FS sector
OVERVIEW
Introduction
Summary
Methodology
Satisfaction criteria
Questionnaire design
SURVEY FINDINIG 2010, GLOBAL FS
Overall Satisfaction Rankings
Scoring key for overall satisfaction ranking
The survey successfully captures the views of service users
The surveyed population was global
Outsourcing works: 90% of respondents are satisfied or very satisfied
Performance Criteria Rankings
Nine performance criteria
Requirements awareness is the most important performance criteria
Requirements awareness
Shared goals
Financial benefits
Risk mitigation
Partnership approach
Problem resolution
Corporate reputation
Skills and resources
Future orientation
SURVEY FINDINGS 2010, ICT OUTSOURCING IN FS
Overall satisfaction ranking
The survey successfully captures the views of service users
Outsourcing is a viable option: 63% of respondents are satisfied or very satisfied
Performance criteria rankings
Problem resolution was the most important of the nine performance criteria assessed for financial services ICT clients
OUTSOURCING CONTRACTS ACTIVITY, GLOBAL FS SECTOR
Overview
Decline in outsourcing by financial service providers
Few mega-deals
Reduced outsourcing in 2009 and 2010
ACV recorded the lowest figure in the first half of 2010
Fluctuating ACVs in insurance
A market for several players of varying sizes
IBM Corp, CSC and TCS contributed most to aggregate TCV in H2 2010
Five vendors expanded presence in the FS outsourcing landscape
The US, the UK and India were the top three signing regions in H2 2010
Germany was the fourth largest market by volume
The three most lucrative regions
TCV decreased for the US and the UK
MARKET TRENDS, OUTSOURCING IN THE GLOBAL FS SECTOR
Introduction
Outsourcing in the FS sector expected to reach $332bn by 2013
Government policies to influence trends in the IT and BPO outsourcing industry
Reforms in the banking sector to create demand for domain specific IT services
Document and record management
Outsourcing of legacy books by insurers
Increasing acceptance of private clouds
OUTSOURCING VENDOR LANDSCAPE, GLOBAL FS SECTOR
Nearshoring of FS IT services increasing in short term
Inorganic growth opportunities for outsourcing vendors
Emergence of web and mobile platforms
VENDOR PROFILES
Introduction
3I INFOTECH
Business description
Clients
Revenue breakdown
Major products and services
Key facts
Recent developments
ACCENTURE
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
AMBA RESEARCH
Business description
Clients
Major services and solutions
Key facts
Recent developments
ATOS ORIGIN
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent development
COPAL PARTNERS
Business description
Clients
Major services and solutions
Key facts
Recent developments
CRITIGEN
Overview
Clients
Major services and solutions
Key facts
Recent developments
DELL
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
ECLERX SERVICES
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
GENPACT
Business description
Revenue breakdown
Clients
Major services and solutions
Key facts
Recent developments
HEADSTRONG CORPORATION
Business description
Clients
Revenue breakdown
Major services and solutions
Key Facts
Recent developments
HP
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
IBM
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
INFOSYS
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
NIIT
Overview
Revenue breakdown
Clients
Major services and solutions
Key facts
Recent developments
OCÉ
Business description
Clients
Revenue breakdown
Major products and services
Key facts
Recent developments
PANGEA3
Business description
Clients
Major services and solutions
Key facts
Recent developments
SG ANALYTICS
Business description
Clients
Major services and solutions
Key facts
Recent developments
TCS
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
UNITEDLEX
Business description
Clients
Major services and solutions
Key facts
Recent developments
XCHANGING
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
XEROX
Business description
Clients
Revenue breakdown
Major services and solutions
Key facts
Recent developments
APPENDIX
Methodology
Further reading
Ask the analyst
Disclaimer
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