Archive for July, 2015

Detusche Bank extends Accenture BPO procurement contract

July 3rd, 2015

Accenture (ACN) today announced a five-year contract extension with Deutsche Bank to continue to provide procurement business process outsourcing (BPO) services globally to the bank. The extended agreement is designed to reduce operational costs, enhance spending control and streamline sourcing and procurement services of Deutsche Bank.Outsourcing21

Accenture is a member of Deutsche Bank’s Supplier Partnership Programme which was successfully launched in June 2014 and concentrates the most strategic vendors based on business impact across all categories of the bank.

Under the original contract signed in 2004, Deutsche Bank outsourced its procurement operations and accounts payable processing to Accenture, as well as the maintenance of its procurement information technology (IT) system. The new contract extends the initial agreement, which was scheduled to expire in December 2016, through the end of 2021.

In addition to continuing to provide Deutsche Bank with procurement operations and accounts payable processing services, Accenture will further automate the source-to-pay process, including invoice processing and contract compliance management. Accenture will also migrate Deutsche Bank’s current on-premise procurement IT platform to an on-demand procurement solution from Ariba, an SAP company.

“We extended our relationship because Accenture understands how to derive real financial benefits and business value from sourcing and procurement,” said Mark Loring, Head of Source-to-Pay and Travel Operations, and John Goyanes, Head of Purchasing, Deutsche Bank. “The contract extension positions Accenture as one of our few strategic business partners, and we can now leverage their enhanced sourcing capabilities to accelerate the source-to-pay process with strong compliance, and ultimately work towards meeting our clear business objectives, including sustainable cost savings targets.”

Julian Crossley, a managing director within Accenture Operations, said, “Procurement organizations, specifically in the banking industry, are under increasing pressure to deliver cost efficient and effective source-to-pay operations whilst maintaining high levels of compliance. In an ever-changing business landscape, our robust yet flexible services offerings create the foundation that will enable us to continue helping the bank meet its goals.”

“Our BPO contract extension with Deutsche Bank is a testament to the business value Accenture is able to create,” said Julian Skan, a managing director in Accenture’s Financial Services operating group and the client account director for Deutsche Bank.

Source:http://www.finextra.com/news/announcement.aspx?pressreleaseid=60333

Study Predicts Further Growth of IT Outsourcing in the United Kingdom

July 3rd, 2015

A new study of IT outsourcing customers and contracts in the UK projects that demand for IT outsourcing services in the UK will grow, and shows that some service providers meet customer expectations more consistently than others. The study—conducted by Whitelane Research in collaboration with PA Consulting Group and published on June 11—surveyed top sourcing executives from 260 of the UK’s biggest consumers of IT services that hold more than 800 contracts with a collective value of more than £15 billion.Outsourcing26

Among other questions, respondents were asked to describe their company’s future IT outsourcing plans and to rate their satisfaction with their service providers.

Key findings from the study include:

69% of survey respondents reported that their companies will maintain or increase the IT services they receive from service providers, and 40% of respondents said that they intend to outsource more.

15% of respondents said that they will outsource less. According to the study’s authors, anecdotal evidence suggests that companies are selectively in-sourcing certain services, particularly customer interaction functions.

More than half of respondents are using (or intend to use) public cloud vendors such as Amazon, Rackspace, and SAP.

86% of respondents report satisfaction with their IT outsourcing service providers.

When asked for the key drivers of their needs for IT outsourcing, 68% of respondents cited a need for their companies to focus on core businesses. However, respondents also expressed the need for better resources or a business transformation more frequently than in past Whitelane Research studies on the UK (Whitelane annually conducts studies on the market for IT outsourcing in 14 European countries). More UK companies are looking to service providers to help drive change in their company’s business model, not just its IT services. Vassilis Serafeimidis, Head of IT Sourcing at PA Consulting Group, describes the heightened demand for business transformation through outsourced IT services as a move by customers toward “digital everything,” such as offering their customers seamless service across multiple channels, including mobile.

The study includes a point-system ranking of IT service providers based on customer satisfaction. According to the authors, some respondents expressed frustration with service provider shortcomings in innovation, proactivity, and ability to drive change—critical competencies in a business transformation. While choosing a service provider should always be a careful decision, companies that intend to rely heavily on outside providers (especially those that seek business transformations through IT outsourcing) should do their due diligence and consider the strengths and weaknesses of various providers. Serafeimidis suggests that price may not be the most important factor, depending upon the particular IT function(s) to be outsourced.

Of the various sectors of the IT outsourcing market studied, telecommunications companies were among the most maligned. However, the authors argue that customers may have “unrealistic expectations” of low prices, customized services, and service levels from providers of commoditized, large-scale IT services.

Source:http://www.natlawreview.com/article/study-predicts-further-growth-it-outsourcing-united-kingdom

Sebi plans new outsourcing policy for exchanges, key entities

July 3rd, 2015

To safeguard capital markets from outside risks, regulator Sebi will soon issue a new set of guidelines to govern outsourcing by stock exchanges and other key entities in the marketplace.Outsourcing25

The new guidelines will ensure that exchanges, clearing corporations and depositories do not outsource their core and critical activities to third-parties, while they would need to put in place a robust system to monitor outsourced activities on a real-time basis.

The outsourcing policy for stock exchanges and clearing corporations has been discussed by Sebi’s Technical Advisory Committee (TAC), while its Depository System Review Committee has also given its recommendations on the need to regulate outsourcing by the depositories, a senior official said.

Consequently, Sebi has decided to issue a consolidated circular on outsourcing for stock exchanges, depositories and clearing corporations, he added.

Major exchanges in the country include BSE and NSE, both of which have their own clearing corporation arms. The two depositories registered with Sebi (Securities and Exchange Board of India) are NSDL and CDSL.

It has been felt that there is a need for further focus and strengthening of guidelines in the area of outsourcing by depositories.

In its recommendations, the Depository System Review Committee said that caution should be exercised while outsourcing and wherever possible depositories should put in place various controls to ensure that there is check on the activities of outsourced entity, especially to monitor that outsourced activities are not further outsourced downstream.

Besides, core and critical activities of depositories should not be outsourced, while similar recommendations have been made for the exchanges and the clearing corporations.

It has also been suggested that the core IT support infrastructure and functions for running core activities of these market infrastructure institutions should not be outsourced to the extent possible.

Wherever outsourcing is allowed, the key market entities will need to ensure that risk impact analysis is undertaken, only reputed entity with proven high delivery standards are selected and appropriate back-up and restoration systems are put in place.

Besides, they would need to monitor and have checks and overall controls over the outsourced entity on a real-time basis.

The depositories and other key market entities would also need to ensure proper audit of the implementation of risk assessment and mitigation measures listed in the outsourcing policy document, the outsourcing agreement and the service- level agreements pertaining to IT systems, among other measures.

Source:http://www.business-standard.com/article/pti-stories/sebi-plans-new-outsourcing-policy-for-exchanges-key-entities-115070200332_1.html

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