Tag: outsourcing

Revolutionizing Risk: Exploring Actuarial Outsourcing in Insurance | Blog

Outsourcing is a growing trend in the insurance industry to transform the actuarial function by reducing costs, creating innovation, increasing efficiencies, and filling the talent demand. Explore the factors driving insurers to partner with specialized service providers and the advantages and obstacles of actuarial outsourcing. Contact us to learn more.

In response to today’s uncertain macroeconomic conditions, changing customer demands, and geopolitical and climate risks, insurance and financial institutions realize the critical need for actuarial transformation.

This transformation involves reimagining the role of actuaries in the organization and adopting new technologies and methodologies. Enterprises increasingly seek outsourcing support from specialized service providers to enhance the effectiveness and efficiency of actuarial processes, including pricing, reserves determination, capital assessments, and financial reporting.

Outsourcing can also help enterprises meet a surging demand for specialized actuarial talent. According to the Bureau of Labor Statistics, the demand for actuaries is expected to increase by 21% between 2021 and 2031. This growth rate surpasses most occupations, signaling a promising future for those working in the industry.

The rising demand for attractive job opportunities in related fields like data science compounds this increasing demand. Additionally, insurers compete with technology firms for the best actuarial professionals, even inside the profession.

Recognizing that the increasing demand for actuaries is unlikely to subside naturally, insurers are proactively addressing this issue. Outsourcing actuarial services is emerging as a compelling long-term solution that enables insurers to maintain control and gain a strategic market advantage.

While insurance providers and insurtechs have outsourced actuarial services since the early 2000s, the trend has accelerated in recent years due to the rising complexity of actuarial work, the need to focus on core competencies, and the rise of insurtechs. Let’s take a look at the factors fueling its momentum.

Key trends shaping actuarial services outsourcing

Heightened demand for expertise and the integration of cutting-edge technologies are among the key factors shaping the future of actuarial outsourcing. These trends reflect the industry’s commitment to staying ahead in a competitive market.  Understanding these driving factors is crucial for insurers to harness the full potential of actuarial services outsourcing.

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Advantages of outsourcing in actuarial transformation

The advantages of outsourcing in actuarial transformation extend beyond fiscal efficiency to encompass resource flexibility, access to specialized knowledge, and freeing resources to focus on more strategic tasks.

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  • Cost optimization: Actuarial outsourcing optimizes costs by using offshore resources and the specialized expertise of external partners. This fiscal advantage is significant in the insurance industry, where financial prudence is paramount. Insurance companies can significantly cut operational costs by automating manual processes and eliminating the need for an extensive in-house team
  • Resource scalability: Actuarial workload fluctuates frequently, making maintaining an appropriately sized in-house team difficult. Outsourcing enables insurers to adapt their actuarial workforce to changing demands. This flexibility encourages prudent control of operating costs while ensuring workforce numbers align with actual needs
  • Specialized expertise: Outsourcing partners bring a rich reservoir of specialized knowledge and expertise. Their in-depth understanding of actuarial nuances and steadfast commitment to staying current with best practices elevate actuarial work standards and expedite the implementation of novel solutions. This augmented expertise ensures alignment with the ever-evolving regulatory framework and enhances the organization’s overall actuarial capabilities
  • Strategic focus: Outsourcing relieves internal teams of routine actuarial tasks, freeing them to concentrate on key strategic objectives. Insurance companies can focus on developing cutting-edge products, creating customer-centric solutions, and other mission-critical initiatives supporting growth, leading to a competitive edge
  • Regulatory agility: Actuarial outsourcing is a flexible tool for regulatory conformity when supported by providers with a clear focus on compliance. It ensures that actuarial procedures consistently meet the ever-changing regulatory environment. This regulatory agility helps insurers avoid compliance-related pitfalls while enhancing their reputation for diligence and reliability
  • Resource optimization: Actuarial outsourcing allows insurers to manage their resources more effectively. It will enable insurers to skillfully adjust their resource configuration while supporting legacy applications during the transformation without incurring internal hiring and training costs. This flexibility ensures actuarial tasks are handled quickly and continuously, guaranteeing smooth operations even in the face of unforeseen resource constraints

Challenges with outsourcing actuarial services

Next, we explore the obstacles insurers may face, as illustrated below:

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Financial challenges

  • Accuracy and timeliness: Outsourcing partners may struggle to deliver accurate results on time because of the complex nature of actuarial processes, potentially leading to financial errors or reporting delays
  • Expertise gap: Outsourcing providers might lack the in-depth actuarial expertise required for precise financial calculations, raising concerns about the quality of results

Operational challenges

  • Communication challenges: Poor communication between the insurer and the outsourcing partner can result in subpar project management, inefficient processes, and delays in critical tasks
  • Quality and risk management: Inadequate quality and risk management processes by the outsourcing provider can compromise the overall quality of work, leading to operational inefficiencies

Counterparty challenges

  • Resource scalability: The outsourcing partner’s ability to scale resources to match fluctuating actuarial workloads is crucial. If they lack the talent, capacity, or expertise, it can hinder the insurer’s objectives
  • Contractual obligations: If the provider does not fulfill contractual terms, actuarial processes may be disrupted, causing unanticipated issues

Reputational challenges

  • Stakeholder interactions: Inexperienced outsourcing partners may jeopardize relationships with external stakeholders such as regulators, insurers, and policyholders, leading to reputational risks
  • Specialized roles: Outsourcing specialized actuarial roles due to a shortage of local talent may negatively impact the insurer’s reputation in those areas if the provider is inexperienced

Armed with an understanding of the opportunities and challenges of outsourcing actuarial services, selecting the right partner is critical. Insurers must evaluate providers’ capabilities by carefully considering their expertise, experience, cost-effectiveness, security measures, and technology infrastructure to make an informed decision.

To discuss actuarial outsourcing trends, contact [email protected] and/or [email protected]. Stay updated by accessing Everest Group’s latest research on Insurance Business Processes.

Watch the webinar, Transforming to Thrive: Building Winning Operating Models Amid Disruption Across Industries, to learn about trends impacting enterprises across industries, such as healthcare, life sciences, insurance, and banking and financial services?

From Auditors to Providers: Big Four’s Journey into FAO Services | Blog

The Big Four accounting firms have been steadily expanding their service horizons, casting a wider net in the managed services market in pursuit of growth and diversification. Leveraging their deep-rooted understanding of global organizations’ financial and operational intricacies, the Big Four possess a unique vantage point that can help them cause a shift in the Finance and Accounting Outsourcing (FAO) market. With their proven track record of innovation and adaptability, coupled with the inherent synergies between their core competencies and the F&A value chain, the stage is set for the Big Four to carve out a significant stake in this competitive domain. Read on for insights into the research. Or reach out to discuss this topic further.

FAO market’s appeal for the Big Four

Despite uncertain economic conditions, the FAO market has demonstrated remarkable resilience, with robust growth in the last year (~9%) and a double-digit growth forecast (11-13%) till 2025, demonstrating sustained expansion in the coming years. This growth goes beyond the mature North American and European markets. Geographies such as Latin America (LATAM) and Asia-Pacific (APAC) and industry segments such as retail and CPG, healthcare, and travel and logistics are witnessing a recent surge in FAO demand, indicating increasing openness to leverage third-party support for F&A operations.

Though FAO is the most mature BPO segment, there is enough white space for new and incumbent players to mark their presence in the market. With an estimated total addressable market of US$80-85 billion in 2023, the penetration rate is no more than 15-17%. This suggests that many global organizations have yet to fully embrace outsourcing services for their F&A function, which signifies ample opportunities for growth and expansion for FAO service providers.

Parallelly, enterprise satisfaction levels have remained stagnant over the past two years, primarily due to perceived shortcomings in innovation, slow decision-making processes, and inadequate stakeholder management. As enterprises increasingly demand contextualized and high-end niche services, there’s an anticipated transformation in the dynamics of outsourcing relationships. This evolution underscores a growing emphasis on long-term sustainable outcomes, prompting providers to recalibrate their strategies to meet evolving client needs.

This shifting landscape sets the stage for significant disruption, with providers gearing up to offer innovative solutions that cater to enterprises’ evolving demands and expectations.

Assessing the Big Four’s dive into FAO waters

With their formidable expertise, extensive resources, and global delivery network, the Big Four possess the capabilities to seize untapped opportunities and capture the white spaces in this evolving FAO market. While their vast client network will allow them to cross-sell their F&A services to their existing consulting customer base, their trust and track record will also solidify a credible foundation in competitive RFP scenarios for FAO contracts. Such strategic advantages in favor of the Big Four ensure significant benefits for buyers, as has been detailed in the exhibit below: 

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Buyer benefits from Big Four’s FAO market expansion | Source: Everest Group (2024)

Beyond tapping into new revenue streams, the Big Four’s foray into this market offers an opportunity to strengthen client relationships and mitigate risks by diversifying their services beyond traditional audit, tax, and advisory services. It also gives them an opportunity to expand their footprint globally and penetrate new geographies and industries. Leveraging the natural synergies of their existing capabilities with F&A, the Big Four can take a stronger value proposition to the clients, which would ensure a comprehensive suite of services for organizations as they focus on their core operations.

While entering the FAO market seems promising, it also demands meticulous evaluation of critical factors to ensure success, as detailed in the table below:

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Key considerations for successful FAO market expansion for the Big Four | Source: Everest Group (2024)

What happens to the existing provider landscape?

Both large and small providers need to strategically adapt in the FAO market due to increased competition from the Big Four. However, there could be inherent differences in the way these two categories might experience the expansion of the Big Four in the FAO space:

  • Impact on large providers: Even while the large F&A players have the capabilities to withstand the Big Four’s expansion, they will find themselves amid a fierce competitive storm. While many of the large F&A players come either from a domain or technology heritage, the entry of the Big Four from their consulting roots will create a pull for advisory capabilities from the clientele of most of the existing large F&A providers, compelling them to ramp up their advisory capabilities. Niche services such as enterprise risk management and compliance will no longer remain as good-to-haves given the experience of the Big Four in these areas. Large providers must also be attentive to client perception since preserving long-term partnerships requires upholding trust and proving value in the face of formidable competitors
  • Impact on small providers: While the impact of the entry of the Big Four for the smaller players remains minimal, they still need to prepare to compete for market share at a larger scale than before. Both the Big Four and existing providers will look to homogenize their target segments by penetrating the booming SMB and lower mid-market segments, which have historically been the forte of these small providers. Hence, differentiation will be paramount for these small providers to stay relevant with the big players of the market. Some of the ways smaller providers can create differentiation are by providing tailored solutions in an as-a-service construct, offering flexibility in pricing and scope expansion after SoW signing, and handholding throughout the client’s transformation journey

What’s ahead?

The Big Four will bring a new set of first-generation FAO buyers with them. Progressively, a lot of them will move ahead in the maturity spectrum, exposing them to the breadth of services and providers available in the FAO market. Existing F&A players will have the chance to carve out a share from this larger market, albeit with substantial strategic adjustments. With the four biggest accounting firms jostling to create their space in the FAO services market, it will be intriguing to see how the first movers among the Big Four chart a bold course forward to secure a significant edge in the coming years.

As we continue tracking the changes in the FAO market landscape, stay tuned for the Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2024 and Finance and Accounting Outsourcing (FAO) State of the Market 2024 reports for more details on the Big Four’s play in the FAO market.

Watch our webinar, Sourcing Leaders’ Key Priorities: Accelerating Growth Through Global Services, to hear our sourcing and pricing analysts discuss action items to attain an accelerated growth trajectory.

Forward-looking Sourcing for 2024: Outsourcing, Location, and Pricing Strategies in APAC | Webinar

ON-DEMAND WEBINAR

Forward-looking Sourcing for 2024: Outsourcing, Location, and Pricing Strategies in APAC

Following a muted 2023, business leaders in the Asia-Pacific (APAC) region are cautiously optimistic about 2024. Within the current APAC sourcing market, as buyers prepare for the coming year, they are actively leveraging inventive commercial models, emerging location trends, and innovative pricing constructs to optimize the value they achieve from service providers.

In this on-demand webinar, Everest Group analysts will explore how APAC buyers can develop forward-looking sourcing strategies with the potential of advancing innovation in their outsourcing relationships and portfolios as value acceleration takes priority in 2024.

What questions will the on-demand webinar answer for the participants?

  • What are the top forward-looking strategies in APAC for outsourced services buyers for 2024?
  • What location strategies are sourcing leaders planning to adopt in 2024 to achieve increased value from their service provider portfolio?
  • What are the pricing trends and forecasts in APAC?
  • What are the new-age commercial models observed in the APAC market?
  • How should APAC-focused procurement leaders shape their contracting and negotiation strategies in 2024?

Who should attend?

  • CIOs, CTOs, CPOs, heads of procurement, and heads of outsourcing
  • Category managers
  • Indirect sourcing leaders
  • Buyers of outsourced services
  • Strategic sourcing leaders
  • IT and BPO department leaders
  • Supplier management leaders
  • GBS leaders managing IT and BPO outsourcing contracts
  • Price-to-win teams from service providers
  • Service Providers’ sales leaders and country heads
Ashutosh Dhoot
Bhanushee Malhotra
Ashish Sehdev
Mihir Sinha

Pricing and Outsourcing Trends: Navigating Uncertainties in Services Sourcing from APAC | Webinar

on-demand WEBINAR

Pricing and Outsourcing Trends: Navigating Uncertainties in Services Sourcing from APAC

Persisting economic uncertainty and increasing geopolitical pressures continue defining the macroeconomic environment this year. Because outsourcing service providers are unable to pivot to meet changing demands, buyer satisfaction with providers is hitting a record low, and the Asia Pacific (APAC) region is no exception.

In this webinar, our analysts will discuss shifting buyer expectations and the defining characteristics of the outsourcing climate in 2023 from an APAC-focused lens.

We will also explore what sourcing leaders are doing to navigate uncertainties across a range of levers, including service provider portfolio shifts, location and talent strategies, pricing and contracting tactics, and engagement models.

Our speakers will discuss:

  • What are the macroeconomic trends shaping the APAC outsourcing market?
  • What are the top focus areas in APAC for buyers of outsourced services?
  • What location and talent strategies are sourcing leaders adopting to overcome increasing uncertainties?
  • What are the pricing trends and forecasts in APAC? Which skillsets are facing more demand?
  • How should APAC-focused procurement leaders shape their contracting and negotiation strategies?

Who should attend?

  • CPOs, CIOs, and CTOs
  • Category managers
  • Indirect sourcing leaders
  • Buyers of outsourced services
  • Strategic sourcing leaders
  • IT and BPO department leaders
  • Supplier management leaders
  • GBS leaders managing IT and BPO outsourcing contracts
  • Price-to-win teams from service providers
  • Service providers’ sales leaders
  • Service providers’ country heads
Prateek Gupta
Bhanushee Malhotra
Abhishek Sharma

The Rise of Retail Investors in Global Capital Markets | Blog

Retail investors are here to stay. As global capital markets face macroeconomic headwinds and a liquidity crunch, retail investors are gaining volume in traditional equity and debt markets as well as emerging alternate investments. Read on to understand the new global capital market trends, the staying power of retail investors, and the impact on investment banks, asset and wealth managers, and service providers.

Watching global capital markets over the past few years has been a rollercoaster ride of issuances and investments. Concerns of market volatility and issuances softening started way before the recent collapse of global banking giants, Silicon Valley Bank (SVB) and Credit Suisse. As illustrated below, overall global equity issuance was stagnant from 2017-2019, while global debt issuance has been steadily rising since 2017.

Driven by the pandemic, total equity issuance increased significantly starting in the third quarter of 2020 and remained high until the fourth quarter of 2021, resulting from regulatory support, major rate cuts, and gradual liquidity pumped into the markets by governments across the world.

Similarly, global debts in capital markets witnessed a significant increase in borrowing levels from the first to the third quarters of 2020. Interest rates across the globe reached historic lows during 2020 and remained down in 2021, leading to continued low borrowing costs for activities such as refinancing existing debt or financing mergers and acquisitions.

After the booms in 2020 and 2021, equity and debt issuance slowed in 2022 due to various macro-economic headwinds that resulted in volatile and low-growth capital markets.

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The current market volatility has been impacted by the following factors:

  • Tightened money supply
  • Aggressive interest rate hikes
  • Inflationary pressures
  • Heightened geopolitical risks that triggered supply chain issues; Russia’s invasion of Ukraine has resulted in higher global costs for energy, minerals, and grains
  • Tensions between the US and China and regulatory pressures

Rise of retail investors

Despite the ups and downs in global capital markets through the recurring macroeconomic headwinds, the growth of retail investors reshaped investing trends starting in early 2020 and by 2022, individual investors held roughly half of all global wealth.

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The strength of retail investors has been fueled by both demand and supply side factors. The exhibit below shows the contributing demand-side factors that include:

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Drivers for expanded retail volumes

Now let’s explore the various supply-side drivers for the increased participation of retail investors:

  • Growth of blockchain technology-backed assets – Retail investors have had a huge influence on the performance of cryptocurrencies, non-fungible tokens (NFTs), and other similar assets/stocks
  • New retail investment platforms – Newly available stock trading, investment platforms, and apps that provide better customer experience and real-time information to investors at a low commission/brokerage or subscription model have grown
  • Innovative debt, equity, and other assets investment offerings – As the market matures, banks and fund managers are delivering innovative and customized offerings, bridging the gap between retail investors and the ticket size. Concepts such as fractional investments and ownerships have highly encouraged and facilitated market entry for retail investors with smaller trades. These fractional investments can cross investment classes, such as real estate investment trusts (REITs). These tokenized options to invest in real estate allow retail investors to gain returns from fractional investments in real estate that otherwise require huge investments with low liquidity
  • New equity investment options – Similarly, investing in private companies that are not yet listed through debt instruments, invoice discounting, or sale of shares in private markets have drawn retail investors’ attention to realize high returns that are less impacted by volatility compared to stocks
  • Central Bank Digital Currency (CBDC) – The introduction of a digital currency issued by a central bank is expected to especially appeal to cash-rich yet risk-averse retail investors
  • Alternative investment funds – Private investment funds such as private equity firms and hedge funds that historically catered to institutional investors are now increasingly looking to tap wealthy individuals. According to reports, individual wealth invested in alternatives will grow more than institutional capital allocated in the next decade

As retail investors increase their volume and market participation, enterprises are rapidly scaling operations to support demand from growing retail investors as well as institutional investors.

Enterprises also are building capabilities across the traditional equity-debt markets and exploring building alternative investment offerings such as gold commodities, invoice discounting, crypto, and NFTs. To enable this, enterprises require support for back-end operations and to manage declining margins.

What does it mean for Business Process Services (BPS) on the sell side:

Amid the global rise in interest rates and capital markets volatility, investment banks have begun to feel margin and cost pressure. The subdued demand was visible in the quarterly earnings results of some major investment banks. In the fourth quarter of 2022, Morgan Stanley reported a 49% drop in its investment banking business compared to the prior year, Goldman Sachs registered a 48% plunge, and Citi Group witnessed a 58% decrease, among others.

The margin strain trickled down to operational cost pressure that led to job cuts in the investment banking division of all the big banks, including Barclays, Citi Group, Deutsche Bank, and Goldman Sachs.

The volatile environment is expected to drive the industry to look for support from service providers to stem costs and sustain business profitability in the following ways:

  • Offshoring: Tier 2 and tier 3 banks that may feel more heat are expected to move more back-office and regulatory reporting operations to low-cost nearshore and offshore centers by partnering with BPS providers
  • Accelerated shift to digitally-enabled operations: Banks are keeping IT investments restricted to core offerings and focusing on intelligent automation transformation, cloudification, and deploying machine-learning-based platforms, among other strategies
  • Captive carve-outs: Banks scrambling with extreme cost pressures are expected to carve out their captives to service providers, giving them responsibility for operations and accountability for business risks

What does it mean for BPS on the buy-side:

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Increasing demand for retail as well as private investments is driving many banks, fintechs, private equity firms, and hedge funds to make inroads or expand their existing asset and wealth management operations.

For instance, Morgan Stanley acquired E*TRADE in 2020 to strengthen its wealth management offerings, while JP Morgan bought digital wealth manager Nutmeg in 2021.

With enterprises scaling up and the regulatory environment changing, the need for low-cost and seamless operations is fuelling outsourcing spend in some of these key areas:

  • Technology-enabled and data-enabled services for better user experience
  • Asset servicing, such as fund administration and accounting
  • Corporate actions
  • Automated workflow for client onboarding, reconciliation, settlements, etc.
  • Support for existing regulations as well as up-and-coming regulations on Environmental, Social, and Governance (ESG), and cryptocurrencies
  • Increase in cyber security and data safety platforms and services

Changing yet challenging times

The fast-changing financial services landscape and the recent collapse of banking giants such as SVB and Credit Suisse are expected to influence investor sentiment as well as operating models and capital requirements of banking enterprises.

Watch this space for further updates on how the changing banking landscape opens additional risks and opportunities for service providers.

For more information on trends in global capital markets, reach out to the authors, Sakshi Maurya, Shrey Jain, Dheeraj Maken, and Suman Upardrasta. To learn more about BPS market trends, the competitive landscape, and our latest research findings, see Capital Markets Operations PEAK Matrix Assessment 2023.

Changing Dynamics In The Business Process Services Marketplace | Blog

I’ve blogged often in the past few months (here, for instance) about the emerging platform operations model and how it creates a more intimate, dynamic relationship between the tech stack and business operations. Just like the IT and engineering services marketplace, this new relationship between technology and operations because of platform operations is now increasingly dominating the business process services (BPS) outsourcing space.

Structuring an Outsourcing Deal in This Era of Uncertainty in Europe | Webinar

LIVE WEBINAR

Structuring an Outsourcing Deal in This Era of Uncertainty in Europe

Economic changes have taken the global market by storm, and Europe is no exception. In this webinar, our analysts will discuss changes in enterprise expectations and the defining characteristics of an outsourcing deal in 2023 in Europe.

Join us to learn what an ideal outsourcing deal in Europe should entail in terms of offshoring, automation, pricing and cost savings, engagement models, and contract terms.

Our speakers will discuss:

  • Business expectations from outsourcing deals
  • How service providers are structuring deals to meet these expectations
  • How outsourcing pricing in Europe has evolved and its consequent trajectory in 2023

Who should attend?

  • Sourcing leaders
  • Category strategy leaders
  • GBS leaders managing IT and BPO outsourcing contracts
  • Price-to-win teams from service providers
  • Service providers’ country heads
  • Industry leads within service providers.
  • Service Providers’ sales leaders
Vice President, Pricing Assurance
Practice Director, Pricing Assurance
Partner, Pricing Assurance

Four Steps to Transformation: Overcoming Buyers’ Achilles Heel in IT and BPO Deals | Blog

By starting with four basic elements in agreements, buyers can realize the transformation objectives they desire but often struggle to achieve from their outsourcing relationships. Read on to learn recommendations from our findings evaluating sourcing proposals over the past two years.

It is no secret that when buyers evaluate proposals for IT and BPO work in a managed services model, they consider various criteria such as provider capabilities, cultural alignment, pricing, etc. But one of the most important selection criteria, without a doubt, is the transformation the organization can achieve through the provider’s solution.

Based on our experiences in reviewing existing engagements, transformation is the biggest gap between buyer expectations and provider performance. The outcomes often are not transparent or measured, and when they are, the results are subpar.

This observation is astounding. Transformational outsourcing can reduce the outsourcing spend or total contract value (TCV) and improve the user experience, quality, and timeliness. While buyers know they need to focus on this critical aspect, they visibly struggle to realize the desired transformation objectives through their outsourcing relationships.

Here are a few examples that highlight the extent IT and BPO providers can fall short of expectations:

Example 1: A Tier 1 IT service provider was near the end of an application management service contract with a mid-sized US-based manufacturer. During the entire term, it charged the client for specialized automation resources as well as proprietary automation platforms. While the provider believed it had done a great job by piloting various use cases, no meaningful reduction in the number of full-time equivalents (FTEs) could be attributed to its efforts, leaving the customer dissatisfied.

Example 2: A leading BPO service provider was in the middle of its managed BPO services contract with a large UK-based client. Even though multiple transformation projects had been initiated and completed, neither the provider nor the client had measured the results because it was a fixed-price contract, making the business benefits unclear.

Four elements to ensure transformation

To overcome issues with lack of transparency, the following elements should be included in agreements after the initial proposal sales spin:

  1. Have the provider commit to a practical level of benefits from transformation
  2. Agree to a mechanism to measure the benefits and hold the service provider accountable for delivering on them (for example, link non-performance to reduced fees for the provider)
  3. Ensure regular transformation governance to identify new initiatives, track execution of existing ones, and measure the intended benefits compared to the plan
  4. Incentivize providers to deliver beyond the committed benefits through mechanisms like gainsharing

Once these basic aspects are part of the agreement, further steps can be taken to ensure the benefits realized are best in class and transformation is achieved.

To discuss how to realize or elevate transformation benefits in IT and BPO deals, please reach out to [email protected] or [email protected].

Discover more about outsourcing deals and contracting in our webinar, Pricing Actions to Capture Outsourcing Savings and Drive Success in 2023.

For Growth Objectives, Select A Service Provider Suitable For A Deeper Partnering Relationship | Blog

Companies that contract with third-party service providers to build and evolve digital platforms that help them compete must understand that this calls for a different kind of relationship. A partnering relationship with a deep commitment between both parties. A much more dynamic, fluid relationship. Not an arm’s length relationship with a provider that focuses on driving efficiencies. Unfortunately, not all service providers are equally strong in this kind of partnering relationship.

Read more in my blog on Forbes

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