Financial companies eye more offshoring
Global banks and financial services companies expect to increasingly send some of their operations offshore in the next few years, according to new research.
The PricewaterhouseCoopers survey shows more than 80% of financial companies currently conduct some form of offshore operation of their business activities, mainly in IT-related functions. But 94% of financial companies expect to have some operations offshore in three years' time, according to the survey of 156 financial institutions around the world.
India was the most popular offshoring destination, ahead of China in second, while other potential countries included Ireland, Romania and the Philippines. The survey found that moving offshore did not always produce the cost savings expected, with more than 15% of respondents dissatisfied with the level of cost savings achieved.
The PricewaterhouseCoopers survey shows more than 80% of financial companies currently conduct some form of offshore operation of their business activities, mainly in IT-related functions. But 94% of financial companies expect to have some operations offshore in three years' time, according to the survey of 156 financial institutions around the world.
India was the most popular offshoring destination, ahead of China in second, while other potential countries included Ireland, Romania and the Philippines. The survey found that moving offshore did not always produce the cost savings expected, with more than 15% of respondents dissatisfied with the level of cost savings achieved.
posted by Gilbert | 2:33 PM
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