Wednesday, July 11, 2007
DAALLO Airlines Outsources Accounting to Kale Consultants, India
BlogOut provides regular, global outsourcing updates. See BlogOut Directory for the complete list of categories
See also outsourcing updates for related categories: Airlines, Finance & Accounting
DAALLO Airlines Outsources Accounting to Kale Consultants, India
25 Jun 2007, Source : Moneycontrol.com
DAALLO Airlines, an airline operating between Middle East, Africa and Europe has selected Kale Consultants Ltd. for providing passenger revenue accounting and cargo revenue accounting on an outsourced basis. Kale will provide revenue accounting processing services to Daallo from its Managed Process Services centre in Mumbai, India.
Kale will provide passenger & cargo revenue accounting services including the processing of sales and uplifts, claims to credit card companies and to other airlines for interline coupons, declaration of revenue with comprehensive account postings for the general ledger, management of deals, and a decision support business intelligence system.
Read the full report from here @ Moneycontrol India
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See also outsourcing updates for related categories: Airlines, Finance & Accounting
DAALLO Airlines Outsources Accounting to Kale Consultants, India
25 Jun 2007, Source : Moneycontrol.com
DAALLO Airlines, an airline operating between Middle East, Africa and Europe has selected Kale Consultants Ltd. for providing passenger revenue accounting and cargo revenue accounting on an outsourced basis. Kale will provide revenue accounting processing services to Daallo from its Managed Process Services centre in Mumbai, India.
Kale will provide passenger & cargo revenue accounting services including the processing of sales and uplifts, claims to credit card companies and to other airlines for interline coupons, declaration of revenue with comprehensive account postings for the general ledger, management of deals, and a decision support business intelligence system.
Read the full report from here @ Moneycontrol India
Click on the labels below for more posts on those categories
Labels: accounting, accounting-india, airlines, airlines-africa, airlines-asia, airlines-europe, airlines-india, business-intelligence, finance, finance-asia, finance-india
PermaLink - DAALLO Airlines Outsources Accounting to Kale Consultants, India posted by Ecacofonix : 7:59 AM
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Saturday, June 9, 2007
Financial Services Cos Bullish on Outsourcing, Demand in Traditional, Emerging Processes
BlogOut provides regular, global outsourcing updates. See BlogOut Directory for the complete list of categories
Financial Services Firms Bullish on Outsourcing, with Demand Increasing in Traditional and Emerging Processes
Press release
HOUSTON (June 7, 2007) – Multiple EquaTerra research studies have concluded that financial services organizations plan to expand their outsourcing initiatives into new geographies, business units and emerging processes more than other industries. The firm’s research also found that organizations in this industry are among the heaviest users of IT outsourcing (ITO) and business process outsourcing (BPO). These findings, as well as financial services industry outsourcing satisfaction levels, complexities, drivers, anticipated benefits and a wide range of other topics are detailed and analyzed in a new EquaTerra perspective paper titled, “Outsourcing Trends in the Financial Services Industry.”
According to EquaTerra research, IT is the back-office process most commonly outsourced by financial services organizations, followed by call centers and then HR. Other industry specific processes commonly outsourced include claims, transaction (e.g., credit card, equity trading) and check processing activities. The firm’s research also identified emerging trends in financial services outsourcing, including an increase in the outsourcing of content and document management, as well as “knowledge process outsourcing” or KPO. The former is an important issue for financial services organizations since they generate huge amounts of electronic and paper documents particularly when undertaking capital markets and M&A work for their clients, and stringent regulatory requirements around the management of these documents drives up costs. Financial services firms, therefore, are exploring all options, including the use of third party service providers to help support these efforts.
KPO, a relatively new area, continues to gather momentum and encompasses a broad array of processes such as market research, financial analysis, M&A due diligence and related M&A legal work. The Indian market is particularly well-suited to KPO not only due to its lower costs, but also because of its reservoir of highly educated workers albeit with limited experience and context around some of the business processes they support.
Said John Boyle, EquaTerra’s Managing Director, Financial Services, “The growth in KPO is intriguing because it involves work that was traditionally viewed as too strategic to outsource, or where outsourcing was not viable because candidate services providers lacked the skills or experience required to perform the work. But these perceptions are changing. While in most cases KPO today involves rote work and number crunching, the breadth and depth of work being performed is expanding as buyers gain comfort with the model and suppliers’ skills and levels of context improve.” He added, “However, KPO work, particularly in the financial services industry, is not always outsourced in the true sense. Larger financial services companies are at the forefront in establishing captive operations to perform KPO and related work.”
EquaTerra research also found that financial services firms have greater future outsourcing investment plans than do other industries. For instance, 36 percent of financial services respondents whose firm’s had outsourced one or more of the defined process areas planned to expand outsourcing into new geographies or business units, as compared to 30 percent overall in the study. Twenty-eight percent planned to expand outsourcing into new process areas. Financial services firms will continue to invest in multiple forms of service delivery models including shared services operations, captive centers and the use of outsourcing providers. While the nature of the industry complicates efforts, the potential rewards of adopted blended service delivery models, particularly impact on bottom line and share price, outweigh the additional constraints and complexities.
EquaTerra believes the most innovative financial services firms will lead the way by showing innovation in their strategies around service delivery models and balancing that innovation with execution excellence and cost efficiency. Those institutions that have already outsourced and are looking for ways to increase the value of their investment should consider the points below, among others:
1. Is the outsourcing initiative achieving the value sought at the beginning of the relationship?
2. Is your outsourcing governance team utilizing all the tools in the marketplace to effectively manage the relationship?
3. Have changes in the regulatory environment put your firm at risk relative to outsourcing efforts? Can you ensure your service providers are maintaining the regulatory integrity of your operations?
4. Are you diversified enough in your global services delivery footprint? What are regional options beyond India?
EquaTerra’s new “Outsourcing Trends in the Financial Services Industry” perspective paper also contains insights into how both financial services organizations and outsourcing service providers are responding to the current market and its complexities. To request a copy of the study, please visit: www.equaterra.com
About EquaTerra
EquaTerra advisors help clients achieve sustainable value in their business and IT processes. With an average of more than 20 years of industry experience in over 600 global transformation and outsourcing projects, our advisors offer unmatched industry expertise. EquaTerra has deep functional knowledge in Finance and Accounting, HR, IT, Procurement and other critical business processes with advisors throughout North America, Europe and Asia Pacific. We help clients achieve significant cost savings and process improvement with outsourcing, internal transformation and shared services solutions. For more information on EquaTerra, please contact Lee Ann Moore at +1 713.669.9292; www.equaterra.com.
See also outsourcing updates for related categories:
Click on the labels below for more posts on those categories
Financial Services Firms Bullish on Outsourcing, with Demand Increasing in Traditional and Emerging Processes
Press release
HOUSTON (June 7, 2007) – Multiple EquaTerra research studies have concluded that financial services organizations plan to expand their outsourcing initiatives into new geographies, business units and emerging processes more than other industries. The firm’s research also found that organizations in this industry are among the heaviest users of IT outsourcing (ITO) and business process outsourcing (BPO). These findings, as well as financial services industry outsourcing satisfaction levels, complexities, drivers, anticipated benefits and a wide range of other topics are detailed and analyzed in a new EquaTerra perspective paper titled, “Outsourcing Trends in the Financial Services Industry.”
According to EquaTerra research, IT is the back-office process most commonly outsourced by financial services organizations, followed by call centers and then HR. Other industry specific processes commonly outsourced include claims, transaction (e.g., credit card, equity trading) and check processing activities. The firm’s research also identified emerging trends in financial services outsourcing, including an increase in the outsourcing of content and document management, as well as “knowledge process outsourcing” or KPO. The former is an important issue for financial services organizations since they generate huge amounts of electronic and paper documents particularly when undertaking capital markets and M&A work for their clients, and stringent regulatory requirements around the management of these documents drives up costs. Financial services firms, therefore, are exploring all options, including the use of third party service providers to help support these efforts.
KPO, a relatively new area, continues to gather momentum and encompasses a broad array of processes such as market research, financial analysis, M&A due diligence and related M&A legal work. The Indian market is particularly well-suited to KPO not only due to its lower costs, but also because of its reservoir of highly educated workers albeit with limited experience and context around some of the business processes they support.
Said John Boyle, EquaTerra’s Managing Director, Financial Services, “The growth in KPO is intriguing because it involves work that was traditionally viewed as too strategic to outsource, or where outsourcing was not viable because candidate services providers lacked the skills or experience required to perform the work. But these perceptions are changing. While in most cases KPO today involves rote work and number crunching, the breadth and depth of work being performed is expanding as buyers gain comfort with the model and suppliers’ skills and levels of context improve.” He added, “However, KPO work, particularly in the financial services industry, is not always outsourced in the true sense. Larger financial services companies are at the forefront in establishing captive operations to perform KPO and related work.”
EquaTerra research also found that financial services firms have greater future outsourcing investment plans than do other industries. For instance, 36 percent of financial services respondents whose firm’s had outsourced one or more of the defined process areas planned to expand outsourcing into new geographies or business units, as compared to 30 percent overall in the study. Twenty-eight percent planned to expand outsourcing into new process areas. Financial services firms will continue to invest in multiple forms of service delivery models including shared services operations, captive centers and the use of outsourcing providers. While the nature of the industry complicates efforts, the potential rewards of adopted blended service delivery models, particularly impact on bottom line and share price, outweigh the additional constraints and complexities.
EquaTerra believes the most innovative financial services firms will lead the way by showing innovation in their strategies around service delivery models and balancing that innovation with execution excellence and cost efficiency. Those institutions that have already outsourced and are looking for ways to increase the value of their investment should consider the points below, among others:
1. Is the outsourcing initiative achieving the value sought at the beginning of the relationship?
2. Is your outsourcing governance team utilizing all the tools in the marketplace to effectively manage the relationship?
3. Have changes in the regulatory environment put your firm at risk relative to outsourcing efforts? Can you ensure your service providers are maintaining the regulatory integrity of your operations?
4. Are you diversified enough in your global services delivery footprint? What are regional options beyond India?
EquaTerra’s new “Outsourcing Trends in the Financial Services Industry” perspective paper also contains insights into how both financial services organizations and outsourcing service providers are responding to the current market and its complexities. To request a copy of the study, please visit: www.equaterra.com
About EquaTerra
EquaTerra advisors help clients achieve sustainable value in their business and IT processes. With an average of more than 20 years of industry experience in over 600 global transformation and outsourcing projects, our advisors offer unmatched industry expertise. EquaTerra has deep functional knowledge in Finance and Accounting, HR, IT, Procurement and other critical business processes with advisors throughout North America, Europe and Asia Pacific. We help clients achieve significant cost savings and process improvement with outsourcing, internal transformation and shared services solutions. For more information on EquaTerra, please contact Lee Ann Moore at +1 713.669.9292; www.equaterra.com.
See also outsourcing updates for related categories:
Click on the labels below for more posts on those categories
Labels: finance, it-finance, trends, trends-finance
PermaLink - Financial Services Cos Bullish on Outsourcing, Demand in Traditional, Emerging Processes posted by Ecacofonix : 3:53 AM
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Sunday, April 8, 2007
Mellon Financial to Provide Managed Accounts Outsourcing for Bear Stearns Asset Management
BlogOut provides regular, global outsourcing updates. See BlogOut Directory for the complete list of categories
See also the following for related categories: Finance & Investment, Asset Management, Investment Banking
Mellon Financial to Provide Managed Accounts Outsourcing for Bear Stearns Asset Management
03 Apr 2007
Source: Mellon Financial Corporation
PressRelease
Boston, April 3 - Mellon Financial Corporation announced that its Asset Servicing group will administer the middle and back office for the managed accounts business of Bear Stearns Asset Management (BSAM). Among the services that Mellon will provide are account opening and maintenance, transaction support, custodian reconciliation, and investor reporting services. Mellon will also be providing BSAM with an imaging and workflow tool.
"What impressed us most was Mellon's long-term industry commitment as a managed accounts outsourcing provider, and the experience of its industry- focused service team," said Stuart Hendry, managing director of investment operations for BSAM. "We needed a partner that brought the same level of quality and expertise to the back office as we bring to the front. Mellon is that partner."
"Asset managers want to focus on what they do best for clients - making excellent investment decisions," said James P. Palermo, Mellon vice chairman and head of asset servicing. "Outsourcing back office functions is a cost- effective solution that enables money managers to do that successfully. We look forward to enhancing the strong relationship Mellon enjoys with Bear Stearns Asset Management and furthering their efforts to better serve clients." Mellon currently administers approximately 65,000 managed accounts, representing $35 billion in assets.
Bear Stearns Asset Management manages more than $42 billion in assets across a spectrum of active investment disciplines, including a selection of U.S. equity and fixed income separate accounts, hedge and private equity funds, and funds of funds.
Mellon's Asset Servicing group develops solution-oriented tools to support the entire investment process for public and private pension funds, endowments and foundations, asset managers, mutual funds, insurance and other financial institutions.
Source: Mellon Financial Corporation
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See also the following for related categories: Finance & Investment, Asset Management, Investment Banking
Mellon Financial to Provide Managed Accounts Outsourcing for Bear Stearns Asset Management
03 Apr 2007
Source: Mellon Financial Corporation
PressRelease
Boston, April 3 - Mellon Financial Corporation announced that its Asset Servicing group will administer the middle and back office for the managed accounts business of Bear Stearns Asset Management (BSAM). Among the services that Mellon will provide are account opening and maintenance, transaction support, custodian reconciliation, and investor reporting services. Mellon will also be providing BSAM with an imaging and workflow tool.
"What impressed us most was Mellon's long-term industry commitment as a managed accounts outsourcing provider, and the experience of its industry- focused service team," said Stuart Hendry, managing director of investment operations for BSAM. "We needed a partner that brought the same level of quality and expertise to the back office as we bring to the front. Mellon is that partner."
"Asset managers want to focus on what they do best for clients - making excellent investment decisions," said James P. Palermo, Mellon vice chairman and head of asset servicing. "Outsourcing back office functions is a cost- effective solution that enables money managers to do that successfully. We look forward to enhancing the strong relationship Mellon enjoys with Bear Stearns Asset Management and furthering their efforts to better serve clients." Mellon currently administers approximately 65,000 managed accounts, representing $35 billion in assets.
Bear Stearns Asset Management manages more than $42 billion in assets across a spectrum of active investment disciplines, including a selection of U.S. equity and fixed income separate accounts, hedge and private equity funds, and funds of funds.
Mellon's Asset Servicing group develops solution-oriented tools to support the entire investment process for public and private pension funds, endowments and foundations, asset managers, mutual funds, insurance and other financial institutions.
Source: Mellon Financial Corporation
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Labels: back-office-finance, finance, investment-banking
PermaLink - Mellon Financial to Provide Managed Accounts Outsourcing for Bear Stearns Asset Management posted by Ecacofonix : 1:40 PM
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UK Co-op Financial Services extends Xansa outsourcing deal
BlogOut provides regular, global outsourcing updates. See BlogOut Directory for the complete list of categories
See also the following for related categories: UK, Finance & Investment, Banking, Insurance, Europe
UK Co-op Financial Services extends Xansa outsourcing deal
Company announcement, Source: Xansa
Apr 2007
Co-operative Financial Services (CFS) and Xansa, the outsourcing and technology company, are pleased to announce that CFS is extending and expanding its outsourcing partnership with Xansa.
In a contract which could be worth up to £100 million over five years, Xansa will work with CFS to create a unified Application Development and Support (ADS) service across the whole of the business.
Xansa has been working in partnership with CFS since May 1994 when it signed a £22 million seven year agreement to develop and support the Co-operative Bank's applications. This contract was extended in May 1998 and again to May 2007. The new contract represents a broadening of the partnership to encompass the Insurance side of the business in addition to the current banking relationship. As at present, Xansa will provide the service from a blend of locations in the UK and India.
CFS currently faces the twin challenges of a highly competitive market place and an increasing regulatory environment. Creating the unified ADS service will enable CFS to respond to the regulatory pressures in a cost effective, timely manner. In addition the technology enabled business services will allow CFS to expand and enhance its product lines, improving speed to market and thereby respond quickly to competitive challenges. In selecting Xansa, CFS is able to build on the existing Banking service operation and carry out a fast-track transformation to a unified CFS-wide service.
Commenting on the announcement David Anderson, Chief Executive, Co-operative Financial Services, said: "Xansa has been successfully delivering to Co-operative Financial Services for 12 years. Their approach suits us well with their integrated delivery capability. This will support our business change agenda which is driving us towards the vision of becoming the UK's most admired Financial Services business.
"Xansa's commitment to the UK Retail Banking and Insurance sector means that they understand our market and regulatory environment. In addition Xansa's transformation expertise will enable us to create a best in class, unified application development and maintenance service under the controlling direction of our IS department."
Commenting on the announcement Alistair Cox, Chief Executive, Xansa said: "We are delighted that Co-operative Financial Services continues to choose Xansa as its partner for applications management, IS transformation and web based development. CFS represented Xansa's first ever financial services outsourcing contract and our second ever outsourcing deal, and this expansion and renewal is a clear endorsement of our excellent and longstanding relationship. It also demonstrates our commitment to long term relationships which means that CFS can count on Xansa to help deliver its vision for the future."
Click on the labels below for more posts on those categories
See also the following for related categories: UK, Finance & Investment, Banking, Insurance, Europe
UK Co-op Financial Services extends Xansa outsourcing deal
Company announcement, Source: Xansa
Apr 2007
Co-operative Financial Services (CFS) and Xansa, the outsourcing and technology company, are pleased to announce that CFS is extending and expanding its outsourcing partnership with Xansa.
In a contract which could be worth up to £100 million over five years, Xansa will work with CFS to create a unified Application Development and Support (ADS) service across the whole of the business.
Xansa has been working in partnership with CFS since May 1994 when it signed a £22 million seven year agreement to develop and support the Co-operative Bank's applications. This contract was extended in May 1998 and again to May 2007. The new contract represents a broadening of the partnership to encompass the Insurance side of the business in addition to the current banking relationship. As at present, Xansa will provide the service from a blend of locations in the UK and India.
CFS currently faces the twin challenges of a highly competitive market place and an increasing regulatory environment. Creating the unified ADS service will enable CFS to respond to the regulatory pressures in a cost effective, timely manner. In addition the technology enabled business services will allow CFS to expand and enhance its product lines, improving speed to market and thereby respond quickly to competitive challenges. In selecting Xansa, CFS is able to build on the existing Banking service operation and carry out a fast-track transformation to a unified CFS-wide service.
Commenting on the announcement David Anderson, Chief Executive, Co-operative Financial Services, said: "Xansa has been successfully delivering to Co-operative Financial Services for 12 years. Their approach suits us well with their integrated delivery capability. This will support our business change agenda which is driving us towards the vision of becoming the UK's most admired Financial Services business.
"Xansa's commitment to the UK Retail Banking and Insurance sector means that they understand our market and regulatory environment. In addition Xansa's transformation expertise will enable us to create a best in class, unified application development and maintenance service under the controlling direction of our IS department."
Commenting on the announcement Alistair Cox, Chief Executive, Xansa said: "We are delighted that Co-operative Financial Services continues to choose Xansa as its partner for applications management, IS transformation and web based development. CFS represented Xansa's first ever financial services outsourcing contract and our second ever outsourcing deal, and this expansion and renewal is a clear endorsement of our excellent and longstanding relationship. It also demonstrates our commitment to long term relationships which means that CFS can count on Xansa to help deliver its vision for the future."
Click on the labels below for more posts on those categories
Labels: banks, banks-uk, finance, finance-uk, insurance, insurance-uk, it-finance, it-finance-europe, it-finance-uk
PermaLink - UK Co-op Financial Services extends Xansa outsourcing deal posted by Ecacofonix : 12:59 PM
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Wednesday, April 4, 2007
Finance giants defend offshore outsourcing
Finance giants defend offshore outsourcing
The UK’s financial giants yesterday defended their Indian call centre operations amid fresh concerns from British customers about data security and declining customer service.
An internal report from insurer Norwich Union found shortcomings in its Indian call centres may potentially lead to losses of more than £10million, and fines from the FSA. There was also an alert from consultant AT Kearney that the cost savings of offshore hotspots have “declined almost universally.”
Read the full news report from here @ Contractor UK
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
The UK’s financial giants yesterday defended their Indian call centre operations amid fresh concerns from British customers about data security and declining customer service.
An internal report from insurer Norwich Union found shortcomings in its Indian call centres may potentially lead to losses of more than £10million, and fines from the FSA. There was also an alert from consultant AT Kearney that the cost savings of offshore hotspots have “declined almost universally.”
Read the full news report from here @ Contractor UK
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
Labels: banks-uk, call-centres-india, costs, finance, finance-uk, offshore-problems, opposition
Sunday, March 25, 2007
Metavante, Temenos in Strategic Alliance to Launch Core Banking Platform in USA
Metavante and TEMENOS Form Strategic Alliance to Launch Advanced Core Banking Platform for United States
Press release
March 14, 2007
Metavante and Temenos form exclusive alliance for TCB in U.S.
Product development aimed at top-tier U.S. financial institutions
Metavante and Temenos take U.S. leadership in next wave of core technology
MILWAUKEE & GENEVA, Switzerland - Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced the signing of a strategic agreement with TEMENOS Group (SWX: TEMN), the international provider of integrated core banking systems, to launch an advanced core banking platform based on TEMENOS™ COREBANKING (TCB) for top-tier U.S. financial institutions.
This innovative initiative combines leading TEMENOS TCB global banking technology with Metavante’s unique depth of banking knowledge and 40 years of experience in developing and deploying technology for the U.S. financial services marketplace. Metavante will be the exclusive provider of the new, advanced TCB-based platform to the United States market and also enjoy a preferential status for providing TCB as an outsourced solution internationally.
Metavante will deliver the new, enhanced TCB-based platform on a component basis, enabling large banks to replace aging solutions on a “line of business,” or phased approach. It will initially be available as a licensed solution designed for tier-one and tier-two financial institutions. In addition, Metavante plans to integrate these advanced capabilities as a series of component upgrades for those large financial institutions already using its core banking platform.
“Metavante is making a significant investment in core banking that, together with our on-going investment in our core business, will provide financial institutions with access to the latest technology and functionality to successfully compete in tomorrow’s banking market,” said Metavante President and Chief Executive Officer Frank Martire. “This platform will be one cornerstone of Metavante’s growth strategy for serving large financial institutions and expanding business internationally.”
“We expect the combination of Metavante’s leading market position, its development and distribution prowess in the U.S. banking software market, and its expertise in outsourcing services, with the product superiority of TCB will prove a formidable combination both in the United States and internationally,” said TEMENOS Chief Executive Officer Andreas Andreades.
TCB is the Temenos’ solution for large-scale retail and commercial banks. TCB is a highly scalable solution for tier-one and tier-two banks, as well as multi-bank outsourcing centers. It is a next-generation platform that delivers core retail processing together with a competitive advantage. TCB runs a number of large-scale banking operations. In Europe, TCB operates in the largest retail bank outsourcing center in Spain, running 74 banks and supporting a branch network of over 4,000 branches in a single processing instance. In Asia, TCB has been used as the core platform for a retail bank processing 17 million accounts.
“Because the TCB solution is platform independent, it can be deployed in COBOL as well as Java in a J2EE environment. This should be attractive to large U.S. banks, which operate with large mainframe environments and are challenged with aging platforms,” said Paul Danola, group president, Metavante Enterprise Solutions. “The new Metavante solution will provide large banks with next-generation technology to support advanced frameworks and standards; platform independence; offer a parameter-based solution built with flexible code generation; and a services-oriented architecture that is both open and able to integrate to other environments,” he added.
Metavante and Temenos will be co-hosting an investor briefing session in New York on 21st March, and in London on the 22nd March. Investors who are interested in attending should contact the respective investor relations officers (see contacts below).
About TEMENOS
Founded in 1993, TEMENOS Group AG is a provider of integrated modular core banking systems to over 580 financial institutions in 110 countries worldwide. TEMENOS software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, TEMENOS knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 39 offices in 31 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). www.temenos.com
About Metavante
Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).
Metavante is a registered trademark of Metavante Corporation.
TEMENOS and TEMENOS™ COREBANKING are registered trademarks of TEMENOS Group AG.
Contacts
Metavante Corporation
Chip Swearngan, 414-357-3688
or
TEMENOS
Max Chuard, +41 (0) 22 708 1157
Caroline Guennelon, +41 (0) 22 855 1476
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
Press release
March 14, 2007
Metavante and Temenos form exclusive alliance for TCB in U.S.
Product development aimed at top-tier U.S. financial institutions
Metavante and Temenos take U.S. leadership in next wave of core technology
MILWAUKEE & GENEVA, Switzerland - Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced the signing of a strategic agreement with TEMENOS Group (SWX: TEMN), the international provider of integrated core banking systems, to launch an advanced core banking platform based on TEMENOS™ COREBANKING (TCB) for top-tier U.S. financial institutions.
This innovative initiative combines leading TEMENOS TCB global banking technology with Metavante’s unique depth of banking knowledge and 40 years of experience in developing and deploying technology for the U.S. financial services marketplace. Metavante will be the exclusive provider of the new, advanced TCB-based platform to the United States market and also enjoy a preferential status for providing TCB as an outsourced solution internationally.
Metavante will deliver the new, enhanced TCB-based platform on a component basis, enabling large banks to replace aging solutions on a “line of business,” or phased approach. It will initially be available as a licensed solution designed for tier-one and tier-two financial institutions. In addition, Metavante plans to integrate these advanced capabilities as a series of component upgrades for those large financial institutions already using its core banking platform.
“Metavante is making a significant investment in core banking that, together with our on-going investment in our core business, will provide financial institutions with access to the latest technology and functionality to successfully compete in tomorrow’s banking market,” said Metavante President and Chief Executive Officer Frank Martire. “This platform will be one cornerstone of Metavante’s growth strategy for serving large financial institutions and expanding business internationally.”
“We expect the combination of Metavante’s leading market position, its development and distribution prowess in the U.S. banking software market, and its expertise in outsourcing services, with the product superiority of TCB will prove a formidable combination both in the United States and internationally,” said TEMENOS Chief Executive Officer Andreas Andreades.
TCB is the Temenos’ solution for large-scale retail and commercial banks. TCB is a highly scalable solution for tier-one and tier-two banks, as well as multi-bank outsourcing centers. It is a next-generation platform that delivers core retail processing together with a competitive advantage. TCB runs a number of large-scale banking operations. In Europe, TCB operates in the largest retail bank outsourcing center in Spain, running 74 banks and supporting a branch network of over 4,000 branches in a single processing instance. In Asia, TCB has been used as the core platform for a retail bank processing 17 million accounts.
“Because the TCB solution is platform independent, it can be deployed in COBOL as well as Java in a J2EE environment. This should be attractive to large U.S. banks, which operate with large mainframe environments and are challenged with aging platforms,” said Paul Danola, group president, Metavante Enterprise Solutions. “The new Metavante solution will provide large banks with next-generation technology to support advanced frameworks and standards; platform independence; offer a parameter-based solution built with flexible code generation; and a services-oriented architecture that is both open and able to integrate to other environments,” he added.
Metavante and Temenos will be co-hosting an investor briefing session in New York on 21st March, and in London on the 22nd March. Investors who are interested in attending should contact the respective investor relations officers (see contacts below).
About TEMENOS
Founded in 1993, TEMENOS Group AG is a provider of integrated modular core banking systems to over 580 financial institutions in 110 countries worldwide. TEMENOS software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, TEMENOS knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 39 offices in 31 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). www.temenos.com
About Metavante
Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).
Metavante is a registered trademark of Metavante Corporation.
TEMENOS and TEMENOS™ COREBANKING are registered trademarks of TEMENOS Group AG.
Contacts
Metavante Corporation
Chip Swearngan, 414-357-3688
or
TEMENOS
Max Chuard, +41 (0) 22 708 1157
Caroline Guennelon, +41 (0) 22 855 1476
BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories
Labels: alliances, banks, banks-usa, finance, finance-north-america, finance-usa, it-finance, it-finance-europe, it-finance-usa
PermaLink - Metavante, Temenos in Strategic Alliance to Launch Core Banking Platform in USA posted by Ecacofonix : 10:10 AM
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Wednesday, March 21, 2007
India is a fantastic centre for finance and accounting
“India is a fantastic centre for finance and accounting”
David Leigh, Commercial & Strategy Director, Xansa spoke to Dominic K of Express Computers (India) on the developments in the Indian BPO market particularly in non voice processes for finance, accounting and payroll. Read the details of the interview from this report @ Express Computers
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
David Leigh, Commercial & Strategy Director, Xansa spoke to Dominic K of Express Computers (India) on the developments in the Indian BPO market particularly in non voice processes for finance, accounting and payroll. Read the details of the interview from this report @ Express Computers
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, accounting-india, accounting-usa, finance, finance-india
PermaLink - India is a fantastic centre for finance and accounting posted by Ecacofonix : 10:11 AM
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Tuesday, March 13, 2007
T&E Expense Reporting: an Arduous Process Begging for Automation
T&E Expense Reporting: an Arduous Process Begging for Automation
Aberdeen Group Study Press Release
New Aberdeen Study Finds a $1 Million Savings Opportunity for Expense Reporting
BOSTON, MA -- (MARKET WIRE) -- March 06, 2007 -- T&E (travel and entertainment) expense reporting and management is a complex process that, when manually managed with paper-based systems, is fraught with extraordinary compliance risk and inflated processing costs. Unfortunately, lack of automation in managing one of the largest categories of controllable enterprise spend is the norm, leaving most enterprises with inefficient processes that offer little visibility into overall T&E spend and no mechanism to ensure policy compliance. Material was revealed in a new study by Aberdeen, a Harte-Hanks Company (NYSE: HHS).
Several factors are increasing the focus on expense management for the 377 enterprises that participated in this study, including:
-- Compliance focus: The need to reduce current risk levels posed by non-
compliance with internal policies and external government regulations
-- Cost reduction: The competitive pressure to reduce processing,
administrative and auditing costs associated with expense reports
-- Employee productivity: The organizational pressure to improve employee
productivity and satisfaction
The top strategic action planned by almost 70% of respondents in this study is the adoption/improvement of technology to automate expense management processes.
Enterprises are looking to automate the "back-end" of expense management. Among others, accounts payable personnel expressed concerns with manual methods -- lengthy reimbursement cycles, losses due to fraud, non-compliance to regulatory requirement and travel policies, and poor visibility into spending data.
-- Processing costs: while enterprises using fully automated processes
have an average cost of $15 per expense report, costs for those using
manual systems is more than double ($31 per expense report). A company
processing 5,000 expense reports a month can save approximately $16 per
report on processing costs. The result is a savings of $960,000 in one
year.
-- Approximately 70% of Best in Class enterprises are using one of the
four automated methods for expense management (i.e., end-to-end solution,
ERP provider, expense management software or outsourcing), compared to only
42% for all other enterprises.
Additionally, respondents showed significant interest in using certain features that expense management systems provide, such as: on-demand access, hotel e-folio data integration, ability to use mobile devices, and receipt fax imaging.
For a complimentary copy of this report, made available with support from American Express, IBM, Infor, InterplX and Spendvision, please visit: http://www.aberdeen.com/link/sponsor.asp?cid=3903
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen™ for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to
http://www.harte-hanks.com.
Media Contact:
Vishal Patel
Aberdeen Harte-Hanks
(627)854-5245
vishal.patel@aberdeen.com
SOURCE: Aberdeen Group, a Harte-Hanks Company
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Aberdeen Group Study Press Release
New Aberdeen Study Finds a $1 Million Savings Opportunity for Expense Reporting
BOSTON, MA -- (MARKET WIRE) -- March 06, 2007 -- T&E (travel and entertainment) expense reporting and management is a complex process that, when manually managed with paper-based systems, is fraught with extraordinary compliance risk and inflated processing costs. Unfortunately, lack of automation in managing one of the largest categories of controllable enterprise spend is the norm, leaving most enterprises with inefficient processes that offer little visibility into overall T&E spend and no mechanism to ensure policy compliance. Material was revealed in a new study by Aberdeen, a Harte-Hanks Company (NYSE: HHS).
Several factors are increasing the focus on expense management for the 377 enterprises that participated in this study, including:
-- Compliance focus: The need to reduce current risk levels posed by non-
compliance with internal policies and external government regulations
-- Cost reduction: The competitive pressure to reduce processing,
administrative and auditing costs associated with expense reports
-- Employee productivity: The organizational pressure to improve employee
productivity and satisfaction
The top strategic action planned by almost 70% of respondents in this study is the adoption/improvement of technology to automate expense management processes.
Enterprises are looking to automate the "back-end" of expense management. Among others, accounts payable personnel expressed concerns with manual methods -- lengthy reimbursement cycles, losses due to fraud, non-compliance to regulatory requirement and travel policies, and poor visibility into spending data.
-- Processing costs: while enterprises using fully automated processes
have an average cost of $15 per expense report, costs for those using
manual systems is more than double ($31 per expense report). A company
processing 5,000 expense reports a month can save approximately $16 per
report on processing costs. The result is a savings of $960,000 in one
year.
-- Approximately 70% of Best in Class enterprises are using one of the
four automated methods for expense management (i.e., end-to-end solution,
ERP provider, expense management software or outsourcing), compared to only
42% for all other enterprises.
Additionally, respondents showed significant interest in using certain features that expense management systems provide, such as: on-demand access, hotel e-folio data integration, ability to use mobile devices, and receipt fax imaging.
For a complimentary copy of this report, made available with support from American Express, IBM, Infor, InterplX and Spendvision, please visit: http://www.aberdeen.com/link/sponsor.asp?cid=3903
About Aberdeen Group, a Harte-Hanks Company
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen™ for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com or call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go to
http://www.harte-hanks.com.
Media Contact:
Vishal Patel
Aberdeen Harte-Hanks
(627)854-5245
vishal.patel@aberdeen.com
SOURCE: Aberdeen Group, a Harte-Hanks Company
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, compliance-finance, finance, it-finance
PermaLink - T&E Expense Reporting: an Arduous Process Begging for Automation posted by Ecacofonix : 3:21 AM
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More Companies Use Offshore Shared Services to Standardize Business Processes
Alsbridge Report: More Companies Use Offshore Shared Services to Standardize Business Processes
Cost Savings Not Main Focus
DALLAS, March 12 PRNewswire — A new report released today by Alsbridge finds that offshore shared service centers represent a significant force in the movement to transform the business operations of companies into standardized processes.
Read the full report from here @ Digital 50
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Cost Savings Not Main Focus
DALLAS, March 12 PRNewswire — A new report released today by Alsbridge finds that offshore shared service centers represent a significant force in the movement to transform the business operations of companies into standardized processes.
Read the full report from here @ Digital 50
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: finance, hr, offshore, procurement, shared-services, standardisation
PermaLink - More Companies Use Offshore Shared Services to Standardize Business Processes posted by Ecacofonix : 2:41 AM
0 Comments
Sunday, March 11, 2007
European Companies Turning to Finance Shared Services To Drive Cost Savings
European Companies Turning to Finance Shared Services To Drive Cost Savings
(WebWire) 3/6/2007 9:13:22 AM
LONDON - Finance shared services organisations (SSOs) have now become a proven and standard approach for most European companies, helping to cut the cost of finance operations by over 20% while enabling them to improve quality, productivity, and customer service by up to 40%, according to new Book of NumbersTM research from The Hackett Group.
Hackett’s research also predicted that the use of offshore SSOs by European companies is expected to expand significantly over the next two years.
Read the entire news story from here @ WebWire
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
(WebWire) 3/6/2007 9:13:22 AM
LONDON - Finance shared services organisations (SSOs) have now become a proven and standard approach for most European companies, helping to cut the cost of finance operations by over 20% while enabling them to improve quality, productivity, and customer service by up to 40%, according to new Book of NumbersTM research from The Hackett Group.
Hackett’s research also predicted that the use of offshore SSOs by European companies is expected to expand significantly over the next two years.
Read the entire news story from here @ WebWire
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: europe, finance, finance-europe, shared-services, shared-services-europe
PermaLink - European Companies Turning to Finance Shared Services To Drive Cost Savings posted by Ecacofonix : 10:56 AM
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Barclaycard to Shut Manchester Call Center, to Outsource to India
Barclaycard to Shut Manchester Call Center, to Outsource to India
March 09, 2007
Barclaycard, the credit card division of Barclays, has announced the shutting of a call center in Manchester. The bank has decided to route more customer queries to India.
The Manchester call center mostly handles customer service and sales calls for U.K. credit card customers.
More about this from Global Services Media
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
March 09, 2007
Barclaycard, the credit card division of Barclays, has announced the shutting of a call center in Manchester. The bank has decided to route more customer queries to India.
The Manchester call center mostly handles customer service and sales calls for U.K. credit card customers.
More about this from Global Services Media
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: banks, banks-europe, banks-uk, call-centres, call-centres-banks, call-centres-europe, call-centres-india, call-centres-offshore, call-centres-uk, finance, finance-europe, finance-uk
PermaLink - Barclaycard to Shut Manchester Call Center, to Outsource to India posted by Ecacofonix : 8:42 AM
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Financial benefits of IT outsourcing revealed
Financial benefits of IT outsourcing revealed
Outsourcing IT services can save companies significant sums of money, a new study claims.
A report by the Info-Tech Research group has revealed that large and small businesses alike can achieve financial benefits from outsourcing their IT applications to a specialist firm.
The research found that outsourcing IT help-desk services could save a company up to 13 per cent in costs & application development outsourcing offering savings of 20 per cent.
Full report here @ iHotDesk
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Outsourcing IT services can save companies significant sums of money, a new study claims.
A report by the Info-Tech Research group has revealed that large and small businesses alike can achieve financial benefits from outsourcing their IT applications to a specialist firm.
The research found that outsourcing IT help-desk services could save a company up to 13 per cent in costs & application development outsourcing offering savings of 20 per cent.
Full report here @ iHotDesk
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: costs, finance, it, it-finance, outsourcing-benefits
Friday, March 9, 2007
Strategic Risk Management for Financial Services Seminar
OpenPages Partners With Guillermo Kopp and TowerGroup to Deliver Strategic Risk Management for Financial Services Seminar
By: Marketwire @ Sys-Con
Mar. 9, 2007
Financial Services Risk Management roundtable event: Turning Risk and Compliance Cost into a Profitable Business Investment
Where: Millennium Hilton, 55 Church Street, New York, New York 10007
When: Tuesday, March 20, 2007; 8:00am EDT
The fully loaded cost of risk and compliance across the financial services industry will reach an estimated global total in the range of 330 billion USD in 2007. In addition to unnecessary duplication in technology, more than 80% of this cost is still comprised of direct administrative expenses (e.g., compliance, risk management, operational and financial controls) and includes the administrative overhead that is also loaded on most line and management functions.
This seminar addresses these issues. More on this news release from Sys Con
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
By: Marketwire @ Sys-Con
Mar. 9, 2007
Financial Services Risk Management roundtable event: Turning Risk and Compliance Cost into a Profitable Business Investment
Where: Millennium Hilton, 55 Church Street, New York, New York 10007
When: Tuesday, March 20, 2007; 8:00am EDT
The fully loaded cost of risk and compliance across the financial services industry will reach an estimated global total in the range of 330 billion USD in 2007. In addition to unnecessary duplication in technology, more than 80% of this cost is still comprised of direct administrative expenses (e.g., compliance, risk management, operational and financial controls) and includes the administrative overhead that is also loaded on most line and management functions.
This seminar addresses these issues. More on this news release from Sys Con
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: compliance-finance, events, events-finance, events-finance-usa, finance, finance-risk-management, it-finance, it-finance-risk-management, it-finance-usa
PermaLink - Strategic Risk Management for Financial Services Seminar posted by Ecacofonix : 10:53 PM
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Press Release - SourceNet Solutions Ranked as No. 1 Accounts Payable Outsourcing Vendor
SourceNet Solutions Ranked as No. 1 Accounts Payable Outsourcing Vendor
Press Release
Texas, March 7 /PRNewswire-FirstCall/ -- SourceNet
Solutions, a Mellon Financial Corporation (NYSE: MEL) business, has been
ranked the No. 1 accounts payable outsourcing vendor in the 2006 Top 50
Best Managed Global Outsourcing Vendors list compiled by the Brown-Wilson
Group, authors of The Black Book of Outsourcing. The recent results show
that SourceNet was ranked first in 12 categories, including:
- Vendor Overall Preference/Recommendation
- Innovation
- Training
- Client Relationships & Governance Accountability
- Trust & Integrity
- Deployment & Outsourcing Implementation
- Customization
- Reliability
- Marginal Value Adds
- Data Security & Backup Services
- Support & Customer Care
- Best of Breed Technology & Process Improvement
"We are very proud of this outstanding ranking, which stems from our proactive efforts to expand and enhance our solutions to address our customers' need for enhanced cash management control through better process management and reporting capabilities," said Leon Busch, SourceNet president and chief executive officer. "Our best-in-class technology, combined with our consultative expertise in assisting clients with enhancing internal controls and automating processes while improving efficiencies and reducing costs, are key differentiators for SourceNet."
Brown-Wilson analyzed more than 870 outsourcing vendors in 63 countries to provide objective analysis and advice to outsourcing buyers around the world. The survey rated companies on their consistent strength in four areas -- human capital performance, CEO commitment, corporate direction and leadership impact. A complimentary copy of the report can be downloaded at http://www.sourcenetsolutions.com.
For more than a decade, SourceNet Solutions has provided an AP outsourcing service that has helped companies lower their direct operating costs by up to 40 percent, while strengthening their working capital management processes and promoting risk mitigation. SourceNet also provides payroll management and utility bill analysis services. More information about SourceNet Solutions is available at http://www.sourcenetsolutions.com.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing asset management, private wealth management, asset servicing, payment solutions and investor services. Mellon has approximately $5.5 trillion in assets under management, administration or custody, including $995 billion under management. News and other information about Mellon is available at http://www.mellon.com.
SOURCE Mellon Financial Corporation
Related links:
http://www.mellon.com
http://www.sourcenetsolutions.com
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Press Release
Texas, March 7 /PRNewswire-FirstCall/ -- SourceNet
Solutions, a Mellon Financial Corporation (NYSE: MEL) business, has been
ranked the No. 1 accounts payable outsourcing vendor in the 2006 Top 50
Best Managed Global Outsourcing Vendors list compiled by the Brown-Wilson
Group, authors of The Black Book of Outsourcing. The recent results show
that SourceNet was ranked first in 12 categories, including:
- Vendor Overall Preference/Recommendation
- Innovation
- Training
- Client Relationships & Governance Accountability
- Trust & Integrity
- Deployment & Outsourcing Implementation
- Customization
- Reliability
- Marginal Value Adds
- Data Security & Backup Services
- Support & Customer Care
- Best of Breed Technology & Process Improvement
"We are very proud of this outstanding ranking, which stems from our proactive efforts to expand and enhance our solutions to address our customers' need for enhanced cash management control through better process management and reporting capabilities," said Leon Busch, SourceNet president and chief executive officer. "Our best-in-class technology, combined with our consultative expertise in assisting clients with enhancing internal controls and automating processes while improving efficiencies and reducing costs, are key differentiators for SourceNet."
Brown-Wilson analyzed more than 870 outsourcing vendors in 63 countries to provide objective analysis and advice to outsourcing buyers around the world. The survey rated companies on their consistent strength in four areas -- human capital performance, CEO commitment, corporate direction and leadership impact. A complimentary copy of the report can be downloaded at http://www.sourcenetsolutions.com.
For more than a decade, SourceNet Solutions has provided an AP outsourcing service that has helped companies lower their direct operating costs by up to 40 percent, while strengthening their working capital management processes and promoting risk mitigation. SourceNet also provides payroll management and utility bill analysis services. More information about SourceNet Solutions is available at http://www.sourcenetsolutions.com.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing asset management, private wealth management, asset servicing, payment solutions and investor services. Mellon has approximately $5.5 trillion in assets under management, administration or custody, including $995 billion under management. News and other information about Mellon is available at http://www.mellon.com.
SOURCE Mellon Financial Corporation
Related links:
http://www.mellon.com
http://www.sourcenetsolutions.com
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, accounts-payable, finance
PermaLink - Press Release - SourceNet Solutions Ranked as No. 1 Accounts Payable Outsourcing Vendor posted by Ecacofonix : 9:40 PM
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India Seen as Hot Spot for Finance, Accounting Outsourcing
India seen as hot spot for F&A outsourcing
Times News Network, Feb 17, 2007
India, along with Sri Lanka, China and the UK, is emerging as a hotspot for finance and accounting outsourcing (FAO) activities, according to a latest report by investment and advisory firm, Tholons. “Mumbai, Delhi, Philippines, Sri Lanka, Central Europe, Latin America, UK, Singapore, Shanghai and Toronto will be the preferred destinations for FAO,” the report by Tholons said.
Read more from this report
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Times News Network, Feb 17, 2007
India, along with Sri Lanka, China and the UK, is emerging as a hotspot for finance and accounting outsourcing (FAO) activities, according to a latest report by investment and advisory firm, Tholons. “Mumbai, Delhi, Philippines, Sri Lanka, Central Europe, Latin America, UK, Singapore, Shanghai and Toronto will be the preferred destinations for FAO,” the report by Tholons said.
Read more from this report
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, accounting-india, finance, finance-india
PermaLink - India Seen as Hot Spot for Finance, Accounting Outsourcing posted by Ecacofonix : 7:00 AM
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Technology Innovation Becoming Key for Future Finance & Accounting Outsourcing
Technology Innovation is Becoming Crucial Driver behind the Future of Finance & Accounting Outsourcing
Via Business Wire
Everest Research Institute Study: Labor Arbitrage No Longer a Differentiator; 83% of FAO Suppliers View Technology as New Critical Component to Success
Findings from a new Everest Research Institute study entitled “Technology Innovation – Delivering Higher Value in Finance and Accounting Outsourcing” reveals over 70 percent of Finance and Accounting Outsourcing (FAO) suppliers and the majority of experienced FAO customers view technology as playing a key role in ensuring the future success of their FAO environments.
The doubling in size of the FAO market over the past two years historically was fueled by cost arbitrage...the new generation of FAO engagements are moving towards process innovation and continuous improvement enabled increasingly by technology platforms and solutions. Eighty-three per cent of all FAO suppliers in the study stated the future role of technology as critical to their FAO success
More from this Business Wire report
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Via Business Wire
Everest Research Institute Study: Labor Arbitrage No Longer a Differentiator; 83% of FAO Suppliers View Technology as New Critical Component to Success
Findings from a new Everest Research Institute study entitled “Technology Innovation – Delivering Higher Value in Finance and Accounting Outsourcing” reveals over 70 percent of Finance and Accounting Outsourcing (FAO) suppliers and the majority of experienced FAO customers view technology as playing a key role in ensuring the future success of their FAO environments.
The doubling in size of the FAO market over the past two years historically was fueled by cost arbitrage...the new generation of FAO engagements are moving towards process innovation and continuous improvement enabled increasingly by technology platforms and solutions. Eighty-three per cent of all FAO suppliers in the study stated the future role of technology as critical to their FAO success
More from this Business Wire report
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, finance, it-accounting, it-finance
PermaLink - Technology Innovation Becoming Key for Future Finance & Accounting Outsourcing posted by Ecacofonix : 6:55 AM
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AmeriServ, SEI in Finance, Accounting Outsourcing Deal
AmeriServ, SEI Extend Outsourcing Deal
March 09, 2007
by Global Services
AmeriServ Trust and Financial Services, a U.S.-based trust and investment management products and services provider, has awarded a finance and accounting deal renewal to Pennsylvania-based SEI. SEI will provide outsourcing services including portfolio management, brokerage, custody, retirement benefit payment and portfolio processing services, integrated trading, income processing and reconciliation software platform.
Original report here
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
March 09, 2007
by Global Services
AmeriServ Trust and Financial Services, a U.S.-based trust and investment management products and services provider, has awarded a finance and accounting deal renewal to Pennsylvania-based SEI. SEI will provide outsourcing services including portfolio management, brokerage, custody, retirement benefit payment and portfolio processing services, integrated trading, income processing and reconciliation software platform.
Original report here
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: accounting, accounting-usa, finance, finance-usa, financial-portfolio-management, financial-reconciliation, retirement-benefits, trusts, trusts-usa
PermaLink - AmeriServ, SEI in Finance, Accounting Outsourcing Deal posted by Ecacofonix : 6:49 AM
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New Approach to Mortgage Loan Processing Outsourcing
New Approach to Mortgage Loan Processing
Press release - Services-On-Tap's new service lets the mortgage processor retain total control of the loan application process while outsourcing the details.
Santa Clara, CA (PRWEB) March 8, 2007 - Services-On-Tap, a leading provider of services for the mortgage brokerage industry, announced today the creation of a new service for mortgage loan processing professionals.
Services-On-Tap's Personal Processing Assistant allows loan officers, mortgage brokers and mortgage processors alike to retain full control over the loan application process while outsourcing the mountain of paperwork and tedious tasks that accompanies every mortgage loan.
"Other companies have offered mortgage brokers the ability to outsource processing loan processing, but Services-On-Tap is the first firm to combine the benefits of outsourcing while preserving a mortgage broker or loan processor's ability to retain total control of the process and eliminate the risks of outsourcing," said Greg Harris, Senior Director of Marketing for Services-On-Tap.
Personal Processing Assistant (PPA) Features
• 12 step preparations to ready the mortgage loan application
• Initiation of the appraisal, title and flood certification
• Verification of disclosures, 1003, income/employment, rent deposit and mortgage
• Review of all key documents
• Updated hazard insurance
• Payoff and subordination agreement
• All completed within five business days, or its free (and frequently faster).
Introductory Offer
As an introductory offer, Services-On-Tap will process one file for free--an $85 value. Call Services-On-Tap at 1-866-643-8768 and ask for your free Personal Processing Assistant. Unfortunately availability of this offer is limited and will be provided on a first come first serve basis. This offer expires March 23, 2007 and is limited to new clients and one file per office.
About Services-On-Tap™
Services-On-Tap, based in Santa Clara, CA, provides a range of on-demand services for the mortgage industry including exclusive live and electronic mortgage loan leads, loan processing, and employment and income verification services. Services-On-Tap has helped generate more than $1 billion in loans and is committed to helping mortgage brokers and loan officers profitably grow their customer base while reducing their back office costs. For more information visit www.ServicesOnTap.com
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Press release - Services-On-Tap's new service lets the mortgage processor retain total control of the loan application process while outsourcing the details.
Santa Clara, CA (PRWEB) March 8, 2007 - Services-On-Tap, a leading provider of services for the mortgage brokerage industry, announced today the creation of a new service for mortgage loan processing professionals.
Services-On-Tap's Personal Processing Assistant allows loan officers, mortgage brokers and mortgage processors alike to retain full control over the loan application process while outsourcing the mountain of paperwork and tedious tasks that accompanies every mortgage loan.
"Other companies have offered mortgage brokers the ability to outsource processing loan processing, but Services-On-Tap is the first firm to combine the benefits of outsourcing while preserving a mortgage broker or loan processor's ability to retain total control of the process and eliminate the risks of outsourcing," said Greg Harris, Senior Director of Marketing for Services-On-Tap.
Personal Processing Assistant (PPA) Features
• 12 step preparations to ready the mortgage loan application
• Initiation of the appraisal, title and flood certification
• Verification of disclosures, 1003, income/employment, rent deposit and mortgage
• Review of all key documents
• Updated hazard insurance
• Payoff and subordination agreement
• All completed within five business days, or its free (and frequently faster).
Introductory Offer
As an introductory offer, Services-On-Tap will process one file for free--an $85 value. Call Services-On-Tap at 1-866-643-8768 and ask for your free Personal Processing Assistant. Unfortunately availability of this offer is limited and will be provided on a first come first serve basis. This offer expires March 23, 2007 and is limited to new clients and one file per office.
About Services-On-Tap™
Services-On-Tap, based in Santa Clara, CA, provides a range of on-demand services for the mortgage industry including exclusive live and electronic mortgage loan leads, loan processing, and employment and income verification services. Services-On-Tap has helped generate more than $1 billion in loans and is committed to helping mortgage brokers and loan officers profitably grow their customer base while reducing their back office costs. For more information visit www.ServicesOnTap.com
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: finance, loans, mortgage-loan-processing, mortgages
PermaLink - New Approach to Mortgage Loan Processing Outsourcing posted by Ecacofonix : 2:03 AM
0 Comments
Outsourcing Experts Concur In Attractive Outlook for Philippines BPO Sector
Outsourcing Experts Concur In Attractive Outlook for Philippines Business Process Outsourcing (BPO) Sector
Press release by DDC HRO
In a marked convergence and uniformity of opinion, leading industry experts and observers note the role that the Philippines will play in the next wave of “offshore” outsourcing and its attractive positioning for growth in higher-value BPO sectors.
Date Released: 03/07/2007
FOR IMMEDIATE RELEASE New York, NY and Manila March 6, 2007 – In a marked convergence of opinion following the recent e-Services Philippines Conference in Manila, leading industry experts and commentators indicated their positive outlook for the Philippines’ growing role in the global BPO sector and the opportunity for economic growth this will create. Higher-value BPO sectors, such as F&A and KPO, are highlighted as particularly opportune for the Philippines.
In terms of the broader impact on the economy, at e-Services Philippines, it was noted that in just the last few years the number of jobs in the BPO sector has jumped from just 2,000 to over 200,000 with a 48% increase in activity in the last year alone. Of particular significance also to the growth of the Philippines' overall economy is the 3-4 additional jobs created for every one BPO job - with attractive growth anticipated in all support sectors.
With all indicators pointing toward accelerated growth in the BPO sector and with such clear positive benefits for the overall economy, the Philippines Department of Trade & Industry (DTI) will be sponsoring a follow-up to e-Services Philippinesfocused on the US and Canadian markets. The e-Services Philippines Business Mission to the USA and Canada is scheduled for 23 April - 04 May 2007, covering New York, Fort Lauderdale, Chicago and Toronto. The Mission is part of the DTI's strategic marketing program to position the Philippines as a preferred e-Services Hub.
Growth in the global BPO sector and a move to global and multi-shore deployments is driving fresh and rapid appraisal of destinations such as the Philippines - with Vietnam and China not so far behind. The much-anticipated bulge of opportunity in the fast-emerging Finance & Accounting (F&A) and Knowledge Process BPO sectors is now driving an urgent need to find qualified pools of talent to support this more complex, higher-value business activity.
“Just in the last 6 months or so, we've seen a big shift in the marketplace in terms of awareness of the Philippines and the BPO sector opportunity. Of particular interest is the increased understanding of its potential for higher-value BPO, KPO and skills-based BPO work products, such as Finance & Accounting (F&A),” says David Kinnear, President and CEO of DDC HRO and Head of The BPO Council, a newly-formed initiative of the Philippine-American Chamber of Commerce in New York (The Chamber), which works closely with the Department of Trade & Industry. Indeed, The BPO Council is a joint initiative of The Chamber and the New York Trade Office and Philippine Consulate General.
JoJo Aquino, Managing Director of NeoIT concurs in the upside for F&A: "F&A is the next big wave for the Philippines. Captive centers in the country have long done accounting-related work but the growth of 3rd party providers supporting international clients needs to be faster. Existing centers have expressed concerns that they will soon see shortages in accounting graduates. Government effort to encourage basic finance/accounting education will be good. As important, local governments in various cities which have significant pools of F&A resources should aggressively seek out international locators."
Frank Casale, Founder & CEO of The Outsourcing Institute in New York notes the shift in thinking and awareness: “With the level of access we enjoy in the marketplace, we’ve indeed seen an increased awareness of multi-shore operations and the role that the Philippines has to play in that regard specifically. As offshore outsourcing matures further, so companies are embracing a wider range of options for their sourcing destinations. It’s the next wave.” Comments Avinash Vashistha, CEO of Tholons: “The Philippines’ leadership in voice- based BPO is well-known. However, its potential for non-voice-based BPO services in Finance and Accounting, Legal and Healthcare is still underappreciated and underdeveloped. In the years ahead, we see the Philippines emerging in these areas. We also see other cities aside from Manila emerging as BPO delivery centers. These trends will help elevate and further solidify the Philippines' position as a global leader in Services Globalization.”
Says Fred Ayala, Chairman of the Chairman of the Business Process Association of the Philippines (BPA/P): “The sector growth last year was indeed encouraging and brings with it much needed input into the overall economy. BPO is certainly a sector from which the Philippines can benefit greatly.”
“The rapid growth of the BPO industry in the Philippines is a result of highly successful explorations by US Business in the past 5 years. The effectiveness of the Philippine workforce in handling Customer Service, HR, IT Services and other functions shows that supporting US business needs from this country is the right thing to do” notes Russ Metcalf, Managing Director of NeoIT.
Lauro Vives, Founder & CEO of XMG can vouch for the uptick in the BPO economy and the needs of an increasing number of highly visible and sophisticated companies whose BPO operations are growing in the Philippines – or who are exploring that option. “There’s a powerful combination of geographical, technological and people-based factors coming together – the timing looks good for the sector.”
For DDC HRO, a part of The DDC Group with longstanding presence in the Philippines, CEO David Kinnear notes that timing is everything. “The race for global positioning and delivery of global solutions is clearly on. For this, certain locations will be critical for comprehensive services delivery and robust back-office operations in areas such as Finance & Accounting functions. This drives a new or fresh appraisal of the Philippines for many – and the Philippines’ scorecard is looking very good. It’s also good to see the very real socio-economic benefits that can arise from this new phase of the economy.”
DDC HRO is part of The DDC Group – a privately held portfolio of companies, providing human capital BPO solutions and data processing solutions for forward-thinking companies worldwide. With a multi-disciplinary staff of over 3,500 (primarily in DDC's client support centers in the Philippines), DDC is a leading provider of comprehensive onshore and offshore business process outsourcing services and document management solutions. Learn more about DDC HRO and the DDC Group of Companies at www.ddchro.com
###
About DDC HRO
DDC provides global outsourcing solutions. Specifically, DDC provides global data capture, document processing and data research services - leveraging offices and production facilities in the US, UK, mainland Europe and the Philippines.
Our clients achieve quality improvements, time savings and cost reductions by working with us.
Contact us for more information.
Submitted by DDC HRO
Number of Views: 2516
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Press release by DDC HRO
In a marked convergence and uniformity of opinion, leading industry experts and observers note the role that the Philippines will play in the next wave of “offshore” outsourcing and its attractive positioning for growth in higher-value BPO sectors.
Date Released: 03/07/2007
FOR IMMEDIATE RELEASE New York, NY and Manila March 6, 2007 – In a marked convergence of opinion following the recent e-Services Philippines Conference in Manila, leading industry experts and commentators indicated their positive outlook for the Philippines’ growing role in the global BPO sector and the opportunity for economic growth this will create. Higher-value BPO sectors, such as F&A and KPO, are highlighted as particularly opportune for the Philippines.
In terms of the broader impact on the economy, at e-Services Philippines, it was noted that in just the last few years the number of jobs in the BPO sector has jumped from just 2,000 to over 200,000 with a 48% increase in activity in the last year alone. Of particular significance also to the growth of the Philippines' overall economy is the 3-4 additional jobs created for every one BPO job - with attractive growth anticipated in all support sectors.
With all indicators pointing toward accelerated growth in the BPO sector and with such clear positive benefits for the overall economy, the Philippines Department of Trade & Industry (DTI) will be sponsoring a follow-up to e-Services Philippinesfocused on the US and Canadian markets. The e-Services Philippines Business Mission to the USA and Canada is scheduled for 23 April - 04 May 2007, covering New York, Fort Lauderdale, Chicago and Toronto. The Mission is part of the DTI's strategic marketing program to position the Philippines as a preferred e-Services Hub.
Growth in the global BPO sector and a move to global and multi-shore deployments is driving fresh and rapid appraisal of destinations such as the Philippines - with Vietnam and China not so far behind. The much-anticipated bulge of opportunity in the fast-emerging Finance & Accounting (F&A) and Knowledge Process BPO sectors is now driving an urgent need to find qualified pools of talent to support this more complex, higher-value business activity.
“Just in the last 6 months or so, we've seen a big shift in the marketplace in terms of awareness of the Philippines and the BPO sector opportunity. Of particular interest is the increased understanding of its potential for higher-value BPO, KPO and skills-based BPO work products, such as Finance & Accounting (F&A),” says David Kinnear, President and CEO of DDC HRO and Head of The BPO Council, a newly-formed initiative of the Philippine-American Chamber of Commerce in New York (The Chamber), which works closely with the Department of Trade & Industry. Indeed, The BPO Council is a joint initiative of The Chamber and the New York Trade Office and Philippine Consulate General.
JoJo Aquino, Managing Director of NeoIT concurs in the upside for F&A: "F&A is the next big wave for the Philippines. Captive centers in the country have long done accounting-related work but the growth of 3rd party providers supporting international clients needs to be faster. Existing centers have expressed concerns that they will soon see shortages in accounting graduates. Government effort to encourage basic finance/accounting education will be good. As important, local governments in various cities which have significant pools of F&A resources should aggressively seek out international locators."
Frank Casale, Founder & CEO of The Outsourcing Institute in New York notes the shift in thinking and awareness: “With the level of access we enjoy in the marketplace, we’ve indeed seen an increased awareness of multi-shore operations and the role that the Philippines has to play in that regard specifically. As offshore outsourcing matures further, so companies are embracing a wider range of options for their sourcing destinations. It’s the next wave.” Comments Avinash Vashistha, CEO of Tholons: “The Philippines’ leadership in voice- based BPO is well-known. However, its potential for non-voice-based BPO services in Finance and Accounting, Legal and Healthcare is still underappreciated and underdeveloped. In the years ahead, we see the Philippines emerging in these areas. We also see other cities aside from Manila emerging as BPO delivery centers. These trends will help elevate and further solidify the Philippines' position as a global leader in Services Globalization.”
Says Fred Ayala, Chairman of the Chairman of the Business Process Association of the Philippines (BPA/P): “The sector growth last year was indeed encouraging and brings with it much needed input into the overall economy. BPO is certainly a sector from which the Philippines can benefit greatly.”
“The rapid growth of the BPO industry in the Philippines is a result of highly successful explorations by US Business in the past 5 years. The effectiveness of the Philippine workforce in handling Customer Service, HR, IT Services and other functions shows that supporting US business needs from this country is the right thing to do” notes Russ Metcalf, Managing Director of NeoIT.
Lauro Vives, Founder & CEO of XMG can vouch for the uptick in the BPO economy and the needs of an increasing number of highly visible and sophisticated companies whose BPO operations are growing in the Philippines – or who are exploring that option. “There’s a powerful combination of geographical, technological and people-based factors coming together – the timing looks good for the sector.”
For DDC HRO, a part of The DDC Group with longstanding presence in the Philippines, CEO David Kinnear notes that timing is everything. “The race for global positioning and delivery of global solutions is clearly on. For this, certain locations will be critical for comprehensive services delivery and robust back-office operations in areas such as Finance & Accounting functions. This drives a new or fresh appraisal of the Philippines for many – and the Philippines’ scorecard is looking very good. It’s also good to see the very real socio-economic benefits that can arise from this new phase of the economy.”
DDC HRO is part of The DDC Group – a privately held portfolio of companies, providing human capital BPO solutions and data processing solutions for forward-thinking companies worldwide. With a multi-disciplinary staff of over 3,500 (primarily in DDC's client support centers in the Philippines), DDC is a leading provider of comprehensive onshore and offshore business process outsourcing services and document management solutions. Learn more about DDC HRO and the DDC Group of Companies at www.ddchro.com
###
About DDC HRO
DDC provides global outsourcing solutions. Specifically, DDC provides global data capture, document processing and data research services - leveraging offices and production facilities in the US, UK, mainland Europe and the Philippines.
Our clients achieve quality improvements, time savings and cost reductions by working with us.
Contact us for more information.
Submitted by DDC HRO
Number of Views: 2516
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: asia, bpo-philippines, finance, finance-asia, finance-philippines, kpo, philippines
PermaLink - Outsourcing Experts Concur In Attractive Outlook for Philippines BPO Sector posted by Ecacofonix : 1:18 AM
1 Comments
Thursday, March 8, 2007
UK Insurer Norwich Union Signs Admin Outsourcing Deal to Rationalise Systems
Norwich Union signs admin outsourcing deal in move to rationalise systems
Mar 07, 2007
Norwich Union Life has signed an agreement to outsource the administration of almost 3m life and pension policies to Swiss Re. The UK insurer will start the decommissioning of 220 of its 550 product systems in October 2007. The outsourcing deal will see 1,000 Norwich Union staff transferred to Swiss Re, but customers, policies and funds will still be managed by Norwich Union.
More details here from Computer World UK
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Mar 07, 2007
Norwich Union Life has signed an agreement to outsource the administration of almost 3m life and pension policies to Swiss Re. The UK insurer will start the decommissioning of 220 of its 550 product systems in October 2007. The outsourcing deal will see 1,000 Norwich Union staff transferred to Swiss Re, but customers, policies and funds will still be managed by Norwich Union.
More details here from Computer World UK
BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories
Labels: administration-insurance, finance, finance-europe, finance-uk, insurance, insurance-europe, insurance-uk, it-finance, it-finance-europe, it-finance-uk, it-insurance, it-insurance-uk, uk
PermaLink - UK Insurer Norwich Union Signs Admin Outsourcing Deal to Rationalise Systems posted by Ecacofonix : 7:30 PM
0 Comments
Fireman’s Fund Adopts Accenture’s Claims Processing Technology
Fireman’s Fund Adopts Accenture’s Claims Processing Technology
Press release
New York - Fireman's Fund Insurance Company has selected Accenture technology for processing its insurance claims. The newly upgraded technology solution will handle all claims submitted to Fireman’s Fund® under its commercial, personal and specialty lines.
The Accenture Claim Components Solution is a Web-based technology designed to help insurers improve the efficiency of their claims-handling operations through the automation of routine tasks. At Fireman’s Fund, the solution supports core claims transactions from first notification of loss through closure of the claim. It integrates with a full range of claims interfaces.
Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide.
Read full press release here from DBusiness News, Feb 07, 2007
Press release
New York - Fireman's Fund Insurance Company has selected Accenture technology for processing its insurance claims. The newly upgraded technology solution will handle all claims submitted to Fireman’s Fund® under its commercial, personal and specialty lines.
The Accenture Claim Components Solution is a Web-based technology designed to help insurers improve the efficiency of their claims-handling operations through the automation of routine tasks. At Fireman’s Fund, the solution supports core claims transactions from first notification of loss through closure of the claim. It integrates with a full range of claims interfaces.
Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide.
Read full press release here from DBusiness News, Feb 07, 2007
Labels: claims-processing, finance, finance-usa, insurance, insurance-usa, it-finance, it-insurance
PermaLink - Fireman’s Fund Adopts Accenture’s Claims Processing Technology posted by Ecacofonix : 1:22 AM
0 Comments
Tuesday, March 6, 2007
Vengroff, Williams & Associates Evaluated as A Leaders in F&A BPO Landscape
Vengroff, Williams & Associates Evaluated as One of Seven Market Leaders in Leading Analyst Firm's F&A BPO Worldwide Competitive Landscape
Press release
Evaluation Based on Providers Generating Over $100 Million From F&A Outsourcing
Source: Marketwire
Feb. 28, 2007
GARDEN GROVE, CA -- (MARKET WIRE) -- 02/28/07 -- Vengroff, Williams & Associates (VWA), a leading provider of receivable management and business process outsourcing solutions with more than 3000 worldwide customers, today announced that Gartner, Inc. (NYSE: IT) recently profiled VWA as one of the seven market leaders in its "Dataquest Insight: F&A BPO Competitive Landscape, Worldwide, 2006." Published January 15, 2007, written by Cathy Tornbohm, List of Figures, Figure 1.
As a leader in the F&A outsourcing market, VWA sees the following outsourcing trends emerging in 2007:
-- Competitive landscape of finance and accounting outsourcing and with labor market changes, companies will be forced to elevate training to provide superior customer service. Labor Markets continue to change and the ability to train and increase the KPIs at the desk level will continue to challenge the F&A market. Outsourcing providers need to see the ability to utilize technologies to analyze the current work habits and accountability of each function. This ability, used in tandem with a learning management system (LMS), can provide intuitive learning programs, on-demand sessions and scripting programs to support the right decision and work flow for acceptable people process.
-- Finance-driven process improvements will need to bridge the process gap within the entire corporate organization. Driven by greater integration between finance and non-finance related data (such as sales, marketing and customer data), finance now has greater insight into performance issues that arise within the quote-to-cash cycle. Outsourcing of the F&A functions will allow for corporations to have the ability to create a streamlined ownership process of all tasks.
-- Global standardization of billing and payment practices will drive companies to adopt new technologies. Doing business on all corners of the globe has created a situation where standardization of such practices as customer billing, electronic payment and document delivery needs to be synchronized on one platform for use around the world. Such functionalities as e-billing focus on creating a secure method of clear visibility around payment, disputes, POD, and contracts.
About Vengroff, Williams & Associates, Inc.
Founded in 1963, and with $23 billion dollars under its management, Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Tyco, Ford Motor Company, Federal Express, Kodak, Microsoft, Yamaha and others. Applying state-of-the-art proprietary information systems, best practice work flow and people to realize cost reductions, operating efficiencies, and improved process design, VWA's approach enables clients to easily insource or outsource all or part of the quote-to-cash function. Solutions are customized to each client's requirements or expanded to incorporate specialized tools and SAS 70 compliant processes and procedures. Services include full order to cash processing, third party collections, EIPP systems, deduction management, dispute management, auto cash solutions, front-end risk mitigation, and tax resolution.
To learn more about VWA, please visit www.vwainc.com or telephone (866) 393-4892.
Media Contacts:Robert ShermanVengroff, Williams & Associates, Inc.714.889.6202
Original source for the press release here
Press release
Evaluation Based on Providers Generating Over $100 Million From F&A Outsourcing
Source: Marketwire
Feb. 28, 2007
GARDEN GROVE, CA -- (MARKET WIRE) -- 02/28/07 -- Vengroff, Williams & Associates (VWA), a leading provider of receivable management and business process outsourcing solutions with more than 3000 worldwide customers, today announced that Gartner, Inc. (NYSE: IT) recently profiled VWA as one of the seven market leaders in its "Dataquest Insight: F&A BPO Competitive Landscape, Worldwide, 2006." Published January 15, 2007, written by Cathy Tornbohm, List of Figures, Figure 1.
As a leader in the F&A outsourcing market, VWA sees the following outsourcing trends emerging in 2007:
-- Competitive landscape of finance and accounting outsourcing and with labor market changes, companies will be forced to elevate training to provide superior customer service. Labor Markets continue to change and the ability to train and increase the KPIs at the desk level will continue to challenge the F&A market. Outsourcing providers need to see the ability to utilize technologies to analyze the current work habits and accountability of each function. This ability, used in tandem with a learning management system (LMS), can provide intuitive learning programs, on-demand sessions and scripting programs to support the right decision and work flow for acceptable people process.
-- Finance-driven process improvements will need to bridge the process gap within the entire corporate organization. Driven by greater integration between finance and non-finance related data (such as sales, marketing and customer data), finance now has greater insight into performance issues that arise within the quote-to-cash cycle. Outsourcing of the F&A functions will allow for corporations to have the ability to create a streamlined ownership process of all tasks.
-- Global standardization of billing and payment practices will drive companies to adopt new technologies. Doing business on all corners of the globe has created a situation where standardization of such practices as customer billing, electronic payment and document delivery needs to be synchronized on one platform for use around the world. Such functionalities as e-billing focus on creating a secure method of clear visibility around payment, disputes, POD, and contracts.
About Vengroff, Williams & Associates, Inc.
Founded in 1963, and with $23 billion dollars under its management, Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Tyco, Ford Motor Company, Federal Express, Kodak, Microsoft, Yamaha and others. Applying state-of-the-art proprietary information systems, best practice work flow and people to realize cost reductions, operating efficiencies, and improved process design, VWA's approach enables clients to easily insource or outsource all or part of the quote-to-cash function. Solutions are customized to each client's requirements or expanded to incorporate specialized tools and SAS 70 compliant processes and procedures. Services include full order to cash processing, third party collections, EIPP systems, deduction management, dispute management, auto cash solutions, front-end risk mitigation, and tax resolution.
To learn more about VWA, please visit www.vwainc.com or telephone (866) 393-4892.
Media Contacts:Robert ShermanVengroff, Williams & Associates, Inc.714.889.6202
Original source for the press release here
Labels: accounts-receivable, apar, finance
PermaLink - Vengroff, Williams & Associates Evaluated as A Leaders in F&A BPO Landscape posted by Ecacofonix : 8:42 AM
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CSC and Universal Special Auto Finance Sign Outsourcing Deal
CSC and Universal Special Auto Finance Sign Outsourcing Deal
February 06, 2007
CSC will provide back-office systems and support for subprime auto lending program
Universal Special Auto Finance (Universal), a capital-management company based in Greenwood Village, Colo., USA, and Computer Sciences Corporation (CSC) have inked a five-year Business Process Outsourcing (BPO) contract.
CSC will provide lending software, accounting support, and collections and related back-office services, and will support the subprime auto lending program’s customers by providing loan-processing services and software.
Labels: finance, finance-north-america, finance-usa, it-finance
PermaLink - CSC and Universal Special Auto Finance Sign Outsourcing Deal posted by Ecacofonix : 1:00 AM
0 Comments
Joe Vales Recognized as a 2007 Finance and Accounting Superstar
Business Process Outsourcing: Joe Vales Recognized as a 2007 Finance and Accounting Superstar by Editors of FAO Today
News release, source: Prime Newswire Page
Vales Consulting Group Founder Earns Industry Recognition For Branding and Shaping the Global BPO Market
RYE, N.Y., Feb. 9, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- Joseph Vales, recognized as the marketing guru for the global Information Technology Outsourcing (ITO) and Business Process Outsourcing (BPO) industries, has been selected as a 2007 Finance and Accounting Superstar by the editors of FAO Today, the F&A outsourcing industry's preeminent trade publication. The annual list recognizes the most influential and respected corporate buyers, service providers, strategy consultants and thought leaders for their achievements and contributions to the global F&A outsourcing industry.
This is the third consecutive year that Vales, Senior Partner of the Vales Consulting Group, LLC and Vales Advisors, LLC has been named an FAO Superstar by the magazine editors. Vales, who FAO Today called the "most widely used business development consultant in the IT Services industry," is known for his thought leadership contributions to the industry. For PricewaterhouseCoopers, Vales conceived and directed the landmark Global Top Decision-Makers Research which shaped the BPO market for years. Consulting Magazine tracked Joe's impact on the market and described him as the "BPO Pioneer." In 2006, TechSpend magazine recognized Vales as the "Father of BPO" and "Deal Advisor."
Vales established Vales Consulting Group in 2001 as a strategic advisory firm providing marketing and business development services to the senior management of leading service providers, private equity firms, and other professional organizations in the ITO, software, and BPO marketplaces. The Group combines in-depth knowledge of market conditions and business opportunities, world-class sales proposal process expertise from lead generation to close, and the ability to work effectively with senior management to help clients build and sustain market leadership. No other firm can match Vales Consulting Group's expertise in developing robust value propositions for their clients and understanding what it takes to win business.
The Vales Consulting Group has authored over 175 white papers, research reports, by-lined articles, and interviews on the issues that drive the IT Services industry. Clients regard the firm as a trusted strategic partner who really cares about growing their business and generating top-line revenues and bottom-line profits. The firm works closely with clients as an extension of their management teams to develop and implement cost effective marketing strategies and sales programs. The programs and strategies they develop for clients distinguish the Group's service offerings and give them a real competitive advantage in the marketplace.
Vales Consulting Group (www.valesconsulting.com) can be reached via telephone at 1-914-967-3200 or via email at jvales@valesconsulting.com. CONTACT: Vales Consulting Group, LLC
Kerry Ann Vales, Media Relations Coordinator
(914) 967-3200
KAVales@aol.com
News release, source: Prime Newswire Page
Vales Consulting Group Founder Earns Industry Recognition For Branding and Shaping the Global BPO Market
RYE, N.Y., Feb. 9, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- Joseph Vales, recognized as the marketing guru for the global Information Technology Outsourcing (ITO) and Business Process Outsourcing (BPO) industries, has been selected as a 2007 Finance and Accounting Superstar by the editors of FAO Today, the F&A outsourcing industry's preeminent trade publication. The annual list recognizes the most influential and respected corporate buyers, service providers, strategy consultants and thought leaders for their achievements and contributions to the global F&A outsourcing industry.
This is the third consecutive year that Vales, Senior Partner of the Vales Consulting Group, LLC and Vales Advisors, LLC has been named an FAO Superstar by the magazine editors. Vales, who FAO Today called the "most widely used business development consultant in the IT Services industry," is known for his thought leadership contributions to the industry. For PricewaterhouseCoopers, Vales conceived and directed the landmark Global Top Decision-Makers Research which shaped the BPO market for years. Consulting Magazine tracked Joe's impact on the market and described him as the "BPO Pioneer." In 2006, TechSpend magazine recognized Vales as the "Father of BPO" and "Deal Advisor."
Vales established Vales Consulting Group in 2001 as a strategic advisory firm providing marketing and business development services to the senior management of leading service providers, private equity firms, and other professional organizations in the ITO, software, and BPO marketplaces. The Group combines in-depth knowledge of market conditions and business opportunities, world-class sales proposal process expertise from lead generation to close, and the ability to work effectively with senior management to help clients build and sustain market leadership. No other firm can match Vales Consulting Group's expertise in developing robust value propositions for their clients and understanding what it takes to win business.
The Vales Consulting Group has authored over 175 white papers, research reports, by-lined articles, and interviews on the issues that drive the IT Services industry. Clients regard the firm as a trusted strategic partner who really cares about growing their business and generating top-line revenues and bottom-line profits. The firm works closely with clients as an extension of their management teams to develop and implement cost effective marketing strategies and sales programs. The programs and strategies they develop for clients distinguish the Group's service offerings and give them a real competitive advantage in the marketplace.
Vales Consulting Group (www.valesconsulting.com) can be reached via telephone at 1-914-967-3200 or via email at jvales@valesconsulting.com. CONTACT: Vales Consulting Group, LLC
Kerry Ann Vales, Media Relations Coordinator
(914) 967-3200
KAVales@aol.com
Labels: accounting, finance
PermaLink - Joe Vales Recognized as a 2007 Finance and Accounting Superstar posted by Ecacofonix : 12:57 AM
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Outsourcing of UN Pension Fund Delayed Through April
Outsourcing of UN Pension Fund Delayed Through April
Inner City Press at the UN
UNITED NATIONS, March 5 -- The proposed outsourcing of $9 billion of the UN Pension Fund will not take place at least through the end of April, said Alicia Barcena, Under-Secretary General of Management, on Monday.
The outsourcing, widely questioned by UN staff and beneficiaries, had been aggressively pushed by previous Under Secretary General for Management Chris Burnham and UN Controller Warren Sach.
See the full report @ Inner City Press
Inner City Press at the UN
UNITED NATIONS, March 5 -- The proposed outsourcing of $9 billion of the UN Pension Fund will not take place at least through the end of April, said Alicia Barcena, Under-Secretary General of Management, on Monday.
The outsourcing, widely questioned by UN staff and beneficiaries, had been aggressively pushed by previous Under Secretary General for Management Chris Burnham and UN Controller Warren Sach.
See the full report @ Inner City Press
Labels: finance, pension-funds, united-nations
PermaLink - Outsourcing of UN Pension Fund Delayed Through April posted by Ecacofonix : 12:37 AM
0 Comments
Saturday, March 3, 2007
UK outsourcing gets banking boost
UK outsourcing gets banking boost
Tim Ferguson
Monday 26 February 2007
UK outsourcing is being boosted by investment banks as they expand into new business areas.
With some investment banks beginning to offer financial outsourcing services and others providing mortgage lending, Pierre Audoin Consultants (PAC) is predicting this will drive outsourcing growth.
Investment banks are starting to offer outsourced services to specialist financial services companies such as hedge funds.
Read more from this report at Silicon.com
Tim Ferguson
Monday 26 February 2007
UK outsourcing is being boosted by investment banks as they expand into new business areas.
With some investment banks beginning to offer financial outsourcing services and others providing mortgage lending, Pierre Audoin Consultants (PAC) is predicting this will drive outsourcing growth.
Investment banks are starting to offer outsourced services to specialist financial services companies such as hedge funds.
Read more from this report at Silicon.com
Labels: banks, banks-uk, finance, finance-uk, investment-banking, investment-banking-uk, uk
Friday, March 2, 2007
Harris, Symcor Ink Outsourcing Contract
Harris, Symcor Ink Outsourcing Contract
March 02, 2007
Symcor has signed a seven-year agreement to provide wholesale lockbox services for the corporate and institutional clients of Harris, and its investment and corporate banking affiliate, BMO Capital Markets.
Symcor will provide BMO Capital Markets and Harris with wholesale lockbox services, including check and document imaging, remittance data entry processing, and reporting services. About 300 Harris employees who perform these services from locations in Chicago, Los Angeles and Atlanta will transition to Symcor on May 1, 2007.
March 02, 2007
Symcor has signed a seven-year agreement to provide wholesale lockbox services for the corporate and institutional clients of Harris, and its investment and corporate banking affiliate, BMO Capital Markets.
Symcor will provide BMO Capital Markets and Harris with wholesale lockbox services, including check and document imaging, remittance data entry processing, and reporting services. About 300 Harris employees who perform these services from locations in Chicago, Los Angeles and Atlanta will transition to Symcor on May 1, 2007.
Labels: data-management, data-management-finance, data-management-usa, finance, finance-usa
Scotiabank Renews Outsourcing Deal to RR Donnelley
Scotiabank Renews Outsourcing Deal to RR Donnelley
February 27, 2007
Scotiabank, a North American financial institution, and Moore Canada, an RR Donnelley company, have inked a multiyear, multimillion dollars print-management contract.
Scotiabank has decided to continue with the outsourcing deal for print-management as they are happy with the innovative print management programs from Moore Canada which continue helping the financial institution to lower the effective cost of ownership for printed products and related services.
February 27, 2007
Scotiabank, a North American financial institution, and Moore Canada, an RR Donnelley company, have inked a multiyear, multimillion dollars print-management contract.
Scotiabank has decided to continue with the outsourcing deal for print-management as they are happy with the innovative print management programs from Moore Canada which continue helping the financial institution to lower the effective cost of ownership for printed products and related services.
Labels: finance, finance-north-america, print-management, print-management-finance, print-management-north-america
PermaLink - Scotiabank Renews Outsourcing Deal to RR Donnelley posted by Ecacofonix : 4:40 AM
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GlaxoSmithKline, Genpact Ink Outsourcing Contract
GlaxoSmithKline, Genpact Ink Outsourcing Contract
February 27, 2007
Genpact, a business and technology services provider, has signed a multiyear contract to provide finance and accounting services for GlaxoSmithKline’s U.K. corporate business operations.
This is the third contract in two years to be signed between the pharmaceutical giant and Genpact.
February 27, 2007
Genpact, a business and technology services provider, has signed a multiyear contract to provide finance and accounting services for GlaxoSmithKline’s U.K. corporate business operations.
This is the third contract in two years to be signed between the pharmaceutical giant and Genpact.
Labels: finance, finance-europe, finance-pharma, finance-uk, pharma, pharma-europe, pharma-uk, uk
PermaLink - GlaxoSmithKline, Genpact Ink Outsourcing Contract posted by Ecacofonix : 4:24 AM
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