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Outsourcing: Banks juggle service providers as they strive to save money

The difficult thing is, who do you get to manage it all? What’s the best way to get providers to collaborate?"



Jessica Twentyman

Financial Times

17 October 2012



PA is quoted in an article in the Financial Times on outsourcing in financial services. The article looks at how financial services companies have been pioneers when it comes to IT outsourcing, but they are now changing their approach and moving away from big outsourcing contracts to multi-sourcing.

PA comments on the challenges of this new approach: “In the past, financial services companies were happy to sign megadeals, where they hosted all the infrastructure, applications and application development over to a single provider for one big fee,” he says.

"The difficult thing is, who do you get to manage it all? What’s the best way to get providers to collaborate? How are you going to ensure that they all stick to their service-level agreements and how do you decide who’s responsible when something goes wrong?”

PA goes on to comment on the dearth of formal accreditations in the area of service integration and an acute shortage of individuals with the right skills and experience to manage end-to-end delivery of multiple providers.

PA says: “I’ve spoken to IT leaders at two major financial services firms in the past couple of weeks about multi-sourcing and they’ve both told me that deciding how they’re going to manage gaps in service delivery and create an integrated approach is the biggest struggle they face with outsourcing right now.”

You can read the article in full here


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