The report analyzes and
presents an overview of "
Global Outsourcing
Market in BFS Sector Trends and Forecast
2015-2019 "worldwide
Global Outsourcing Market in
BFS Sector: Trends & Forecast 2015-2019
Covering: This report covers
the growth prospects of the global outsourcing market in BFS sector
with segmentations based on services such as information technology
outsourcing (ITO) and business process outsourcing (BPO). The key
regions based on market shares include the Americas, EMEA, and APAC.
The report also includes an analysis of the leading vendors of this
market, which include Accenture, IBM, Genpact, and TCS.
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Market Overview of Global
Outsourcing Market in BFS Sector
Technavios market analysts
have observed that costs are growing in the BFS sector due to the
regulatory compliances that need to be followed by organizations
here. Organizations in the BFS sector are increasingly outsourcing
both regulated and non-regulated activities to third-party service
providers, to reduce costs and identify key investment areas; this
sector primarily outsources its IT service requirements such as
application support, and infrastructure management and support to
third-party service providers. In addition, specific operations
related to F&A, back-office activities and processing, and
administration and contract functions are outsourced. Outsourcing
enables organizations in the BFS sector to transfer their risks, meet
changing regulatory compliances, improve customer services, and
achieve cost efficiencies. The global outsourcing market in the BFS
Sector is projected to account for a CAGR of over 6% during the
forecast period.
Segmentation of global
outsourcing market in BFS sector by service
- ITO
- BPO
In terms of outsourcing deals,
the ITO segment outperformed the BPO segment in both the banking and
the financial services sectors and held a share of more than 88% in
the global outsourcing market in BFS Sector in 2014. According to the
global research report, the ITO market is witnessing the introduction
of cloud-based solutions such as SaaS and IaaS that enables cost
reduction, primarily by eliminating the need for investments in
infrastructure development.
The BPO segment is growing in
terms of outsourcing deals and this will continue during the forecast
period. Organizations in the capital market are increasingly
outsourcing middle office functions such as clearance or settlement,
trade support, and risk management to increase transparency. Banks
are increasingly focusing on improving customer loyalty and
operational efficiency. Therefore, they are outsourcing risk
management and compliance activities to gain a competitive advantage.
The BPO segment is witnessing the outsourcing of non-traditional
areas such as procurement and risk. In addition, cloud technology is
used to bundle traditional ITO services into BPO deals.
The Americas accounted for the
largest share of the global outsourcing market in BFS sector, where
North America is one of the key contributors, primarily because of
challenges such as regulatory compliances and the economic volatility
faced by financial organizations in this region.
The EMEA region has gained
importance as a capital market BPO destination because of its
proximity to capital markets outsourcing clients located in the US
and Europe. Time saving, improvement in service quality, and high
customer satisfaction, are some of the factors that have made this
region favorable for ITO and BPO activities.
Key vendors in global
outsourcing market in BFS sector
- Accenture
- IBM
- Genpact
- TCS
Market research and analysis
of the competitive scenario indicates that the global outsourcing
market in BFS sector is highly fragmented due to the presence of
large and small players. The competition in the market is likely to
intensify further as several players are entering this market.
The other prominent vendors of
the market include:
- Aegis
- Attra Infotech
- Capgemini
- Hexaware
- HP
- iGate
- Infosys
- ITC Infotech
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Table
of Content :
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Top-vendor offerings
PART 03: Market research
methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
PART 05: Market landscape
Market overview
Market size and forecast
Outsourcing deals by volume
Five forces analysis
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