Financial Services Firm Moves to BP, IT Outsourcing Offshore

Client Challenge
The client had limited exposure to outsourcing and Shared Services (SS) experience, but understood the first step to successful offshore operation is a solid and feasible outsourcing strategy. The client contracted Alsbridge to guide them through the process.

How Alsbridge Helped

• Identified about 1,500 possible positions as candidates for multi-sourcing possibilities, for discussion in the initial Strategic Alignment Session, which was then filtered to about 1,100 positions to continue in scope
• Recommended a “waved” solution in which the first of three prospective entries into the offshore environment would be a solid entry of over 400 positions
• Business Process Outsourcing (BPO) included Finance and Accounting (F&A), back office transaction processing, keying, research, suspicious activity reporting, and collections
• Information Technology Outsourcing (ITO) included application management, infrastructure management, help desk, and Information Technology (IT) business office

• 30% cost savings on outsourced positions; client has above-average severance benefits
• Expected improvements in both time and accuracy for multiple transaction types
• Expected savings of $40 million over 5 years for combined ITO/BPO effort