Company recognized for creating value for top customers, innovative initiatives, corporate social responsibility programs and overall scalability and growth
NEWTOWN, Pa., June 07, 2016 (GLOBE NEWSWIRE) — EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, today announced that it was recognized on The 2016 Global Outsourcing 100® (GO100) list, which acknowledges the world’s best outsourcing service providers and advisors. The list is managed by the International Association for Outsourcing Professionals® (IAOP®) and published annually by FORTUNE® Content Marketing Strategies, in a special advertising feature produced by IAOP.
EPAM ranked as a top company and well above average in four out of five categories, including size and growth, customer references, programs for innovation and corporate social responsibility programs. EPAM was also awarded with a Super Star for Sustained Excellence for its continued recognition on the GO100 list.
“We are pleased to be recognized, once again, as one of the best outsourcing providers in the world,” said Elaina Shekhter
, CMO, EPAM. “As we continue our industry-leading growth story, we are reshaping the model of outsourcing by bringing a unique combination of product development, digital orchestration and deep engineering capabilities to service our global portfolio of clients as they navigate continuing waves of technology change. With a presence in 25 countries and a unique approach to agile, distributed delivery, we’ve created a model for collaboration that goes beyond outsourcing and delivers proven business results.”
The GO100 list includes both established global firms, referred to as “Leaders” as well as smaller growing firms referred to as “Rising Stars.” Companies are first organized by Leader or Rising Star criteria and then evaluated based on five judging categories. Judging is based on a rigorous scoring methodology that includes an independent review by a panel of IAOP customer members with extensive experience in selecting outsourcing service providers and advisors for their organizations. All companies included on the list will have demonstrated their global excellence; full “stars” will be awarded to all companies distinguishing themselves in one or more judging categories.
EPAM was awarded stars for size and growth measured by revenue, employees and global presence; customer references demonstrated through high value for top customers; programs for innovation demonstrated through specific programs and resulting outcomes that produce new forms of value for customers; and corporate social responsibility shown through corporate programs and outcomes that address topics such as community involvement and development, human rights, and environmental impacts.
“Buyers understand there are hundreds of qualified service providers and advisors out there, but what they really need to understand now is what makes each one exceptional,” said IAOP CEO, Debi Hamill
. “The Global Outsourcing 100 list has done just that. We’re proud to recognize EPAM for being among the highest rated companies in customer references, programs for innovation and corporate social responsibility as well as size and growth.”
For the full 2016 GO100 list, please visit www.IAOP.org. For more information about the product development and software engineering solutions that EPAM provides, please visit www.epam.com.
About EPAM Systems
EPAM Systems, Inc. (NYSE:EPAM), a leading global product development and platform engineering services company, is focused on delivering results through best-in-class software engineering, combined with innovative strategy, consulting and design capabilities. With 23 years of experience in the information technology industry, EPAM’s 18,000 people serve our customers in over 25 countries across North America, Europe, Asia and Australia. EPAM was ranked #8 in FORBES 25 Fastest Growing Public Tech Companies and was ranked as a top information technology services company on FORTUNE’S 100 Fastest Growing Technology Companies.
For more information, please visit http://www.epam.com/ and follow us on Twitter (@EPAMSYSTEMS) and LinkedIn.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
IAOP is the go-to association leading the way to improve outsourcing outcomes by bringing together customers, providers and advisors in a collaborative, knowledge-based environment that promotes professional development, recognition, certification and excellence. With over 120,000 members and affiliates worldwide, IAOP is not only on top of the latest trends but in front of them. Through its expansive global chapter network, premier training and certification programs, knowledge center, member community and more, IAOP helps members learn, grow and succeed. For more information and how you can become involved, visit www.IAOP.org.
About The Global Outsourcing 100®
As the global, standard-setting association and advocate for outsourcing professionals and the organizations they support, the International Association of Outsourcing Professionals® (IAOP®) annually produces the following research to help companies in their outsourcing decisions:
- The Global Outsourcing 100 – the annual listing of the world’s best outsourcing service providers – in its eleventh year
- The World’s Best Outsourcing Advisors – the annual listing of the top outsourcing advisors and consultants – in its eighth year
Kate Tulloch-Hammond Director, Communications, IAOP
+1.845.452.0600, ext. 122 | Kate.hammond@IAOP.org
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EPAM Systems, Inc via Globenewswire
Article source: http://www.nasdaq.com/press-release/epam-recognized-again-on-the-2016-global-outsourcing-100-list-by-iaop-20160607-00716
By Jordan Cohen
A decision to outsource the city’s income-tax department or keep it in house could come by next Wednesday’s council meeting, Mayor Thomas Scarnecchia said Tuesday.
The mayor said he is waiting to see the results of the five-year financial forecast being compiled by the city’s state-appointed financial supervisors and city Auditor Giovanne Merlo.
“I’m still working on all the facts and figures, and it all depends on the forecast,” the mayor said after a brief meeting with the auditors. “What [the auditors] project remains to be seen.”
The mayor said he expects to render a decision “before the end of the month” if the forecast is not ready by the council meeting.
“I will do whatever is best for the city of Niles,” Scarnecchia said.
Ohio Auditor Dave Yost has strongly criticized the mayor in Vindicator interviews for not going along with the supervisors’ recommendation to outsource. The recommendation is based on the findings of the 2014 performance audit, which determined that the city could save $138,000 annually by outsourcing collections to the Regional Income Tax Agency (RITA).
Scarnecchia’s predecessor Ralph Infante had included outsourcing the department in his financial-recovery plan last December, but his projected annual savings of $43,000 were well below the figures contained in the 2014 audit.
Scarnecchia, however, revised the plan when he took office and eliminated the outsourcing provision.
At the time of the audit, Niles income-tax collections totaled $5.7 million, but interim Treasurer Janet Rizer-Jones has projected $7.1 million in collections this year. A spokesman for the auditor told The Vindicator that he did not expect the higher collection to significantly impact the projected savings by going with RITA.
The income-tax department has been reduced to two people due to the city’s fiscal emergency, but Rizer-Jones indicated she does not like the idea of turning collections over to RITA.
“I don’t want to see anything outsourced,” she told The Vindicator last week.
In the meantime, the fate of Rizer-Jones as interim treasurer will be decided by the city’s Democratic Precinct Committee this evening. Rizer-Jones and Thomas Harwood, a retired executive, are running to fill the unexpired term of Robert Swauger, who resigned in May.
The entire city council and state auditor regional liaison have strongly endorsed Rizer- Jones, who was appointed by Scarnecchia shortly after Swauger’s resignation.
Article source: http://www.vindy.com/news/2016/jun/08/niles-decision-on-outsourcing-tax-depart/
Outsourcing helps your company save time and resources on various projects, such as web design, app development, social media campaigns and online marketing projects.
There are many different ways to maximise the potential of your outsourcing relationship to better benefit your company.
These are some the key considerations when choosing a third-party company to work with:
- Do they have experience in your sector?
- Have they worked with other companies that are a similar size to yours?
- How long have they been in business?
When it comes to choosing an outsourcing partner to work with, treat the process like you are hiring a new employee. It is up to the firm to make a good impression on you, so think of your first contact as less of a sales call and more of a job interview.
This also means that you should check their references thoroughly. Most agencies will have a portfolio featuring work that they have done with other clients. You should get in touch with some of these clients to find out more about your potential partner. Just as you would with a new employee, get in touch with someone that the agency has worked with previously to understand more about their business and what it is like to work with them.
Related Article: Business Beware: Top 12 Mistakes To Avoid When Outsourcing
Understand the Barriers
Most affordable outsourcing partners are located overseas, so you will have to take cultural differences into consideration. One of the major things to consider is national holidays. Find out when the agency you are thinking of working with have their holidays, and make sure that they don’t coincide with busy times for your company.
The same goes for standard work hours. If the time difference is negligible, then you should be able to work together easily and communicate at reasonable times throughout the working day. However, if your employees work flexible hours, you could benefit from working with an agency that is up to 5 hours ahead or behind.
Pool Your Own Resources With an External Agency
An outsourced marketing or web design firm offers up specialist expertise to perform to benefit your business. However, that doesn’t mean that they should work on your project completely on their own.
Since your staff should know your business better than anyone else, ensure that a couple of your employees are in close contact with your outsourced agency; they can cooperate to leverage all available resources for one cohesive strategy that will benefit your company.
While it is beneficial to have several of your staff members involved with the agency, ensure that there is just one person on your team who is in charge of your who can make the important decisions. Without this single point-of-call, the relationship can get messy and cause confusion on both sides. So, assigning a single person to this relationship will help your staff and agency work together more effectively and deliver the right results.
Having your staff work closely with the outsourced agency can actually enhance their own skills and knowledge. In fact, it is a mutually beneficial relationship, as your own team will learn more about marketing or web development and the external agency will learn more about your business’s specific sector.
Related Article: Freelancers to the Rescue: Top 5 Tasks to Outsource for Small Businesses
Set Goals and Measure Your Progress
For ongoing outsourcing projects like marketing, it is important that you set goals and benchmarks. You should know what you want your company to achieve from outsourcing, and check up on the progress regularly to ensure that your agency is meeting these goals. You can revaluate as necessary, but assessing your goals should ultimately let you know if your outsourcing party is providing the results you’re after or if you should seek out another agency.
Reduce Your Time-To-Market
If you have an innovative or ground-breaking new product, app or website that you want to get to market as soon as possible, outsourcing is often the best way to go. An external agency has the resources necessary to offer a quick turnaround time when developing an app, creating a website or establishing a marketing campaign.
Time-sensitive products are ideal candidates for outsourcing. Currently, the mobile payment sector is expanding rapidly with more and more companies launching new products regularly. In this type of situation, outsourcing would be an ideal option, as you would want to beat the competition to market with new technology.
Related Article: Let It Go: Outsource These Tasks to Keep Your Business Running Smoothly
Treat Your Agency as a Partner
Look at your outsourced agency as a partner rather than a vendor, as they can really benefit the growth of your company. Your outsourcing partner has specialist resources and tools, and they can provide you with valuable insight about improving your processes or products. You should be able to feel comfortable asking for advice on certain topics that could benefit your business.
Article source: http://www.business.com/business-opportunities/how-to-get-the-most-out-of-business-outsourcing/
Many Australians are paying a premium for their tax returns but are unaware the work is being outsourced offshore.
Australian consumers are used to the offshore call centre when dealing with telcos. But would you expect your accountant to outsource your tax return to a cheap outfit overseas?
Many accountants in Australia are shifting large proportions of their operations offshore to countries like India and the Philippines where workers can be paid as little as $5 an hour to complete time-consuming compliance work.
While legal, many consumers are unaware of this practice as they are not told who is personally processing their tax returns or handling the back end of their financial affairs. The only disclosure comes in the fine print buried within an engagement letter. This means many consumers are paying a premium for accounting services, without knowing that the person providing the service is based somewhere such as Bangalore, earning way below the Australian minimum wage.
Amanda Newton, of Melbourne’s Negotiis Business Advisors and Accountants, has witnessed many accountants boast about boosting their profit margins by engaging offshore labour. She believes the practice is widespread in Australia, yet most clients remain unaware that it is occurring. Employing eight local staff including a graduate, Negotiis Advisors doesn’t use offshore staff despite the considerable cost savings on offer.
“Offshoring is a short-term race and undermines the overall sustainability of our economy,” Newton says. “The lifeblood of a public practice is a client base of employed individuals and profitable businesses. Many of our clients own and operate small businesses. Providing local employment opportunities is core to community participation and building a stronger local economy. If we are taking away from the economy by taking away local jobs, surely we are working against ourselves too?”
Lee Court of BOSS (Back Office Shared Services) believes using offshore accountancy staff is a legal way for accountancy firms to dramatically boost their profit margins. With both top-tier accounting companies and sole practitioners using BOSS to access overseas staff, Court contends that the demand has been high since BOSS began trading in 2004.
“There is consistent interest in using offshoring as a way of gaining many benefits, including freeing up time, reducing costs and accessing another pool of staff without being limited by the Australian labour market constraints,” Court says.
While there are obvious cost savings on offer when significantly reducing the hourly rate paid to an accountant, offshoring also allows accountancy firms to avoid paying superannuation, annual leave, maternity leave and workers’ compensation.
Many question the quality of work produced by offshore accountants who aren’t native English speakers, yet Court contends the standard is high. “Our staff are typically CA [chartered accountant] qualified or studying to be so and follow the CA code of conduct. Our staff are reference-checked in the same way any scrupulous chartered practice in Australia would vet their staff,” Court says.
Lack of transparency is a concern for consumers, with sensitive personal and financial information being entrusted to an unknown overseas entity, often without their knowledge. The BOSS website recommends accountants keep this information “low key” by simply including a statement in an engagement letter (to fulfil legal requirements) but it could be argued true transparency should involve a conversation with a client.
CPA Australia advises that all its members and those of Chartered Accountants Australia and New Zealand and Institute of Public Accountants need to abide by the rules and procedures outlined by the Accounting Professional and Ethical Standards Board. This includes ensuring outsourced service providers meet certain professional standards and have adequate security measures in place to safeguard data. Furthermore, the standards board stipulates that clients must know the geographical location of outsourced staff and the extent of their involvement in delivering professional services.
Ultimately, hiring staff located overseas is legal so consumers need to make an informed choice when choosing an accountant to manage their financial and taxation affairs. Instead of skimming over (or not even reading) the fine print, concerned consumers should take the time to read all documents carefully to see if offshore staff are used by their chosen accountant. Alternatively, having a good, old-fashioned conversation with your accountant is a good way to gauge if they are using offshore staff.
While many Australian accountants continue to resist the trend, many more are taking advantage of the immediate cost savings available. Whether this is a sustainable approach to doing business is yet to be seen, as are the potentially detrimental long-term impacts on their brand, business and the local economy.
What do you think of this practice? Were you aware of it? Let us know in the comments.
- NOW READ: Your checklist to get your tax affairs in order by June 30
Article source: http://www.smh.com.au/money/tax/australian-accountants-are-using-offshore-outsourcing-20160601-gp9g5j.html
Complex, multi-provider outsourcing arrangements have become the norm for today’s enterprises, as businesses seek to leverage the specific capabilities of specialised providers. While this best-of-breed approach can yield significant benefits, overseeing myriad providers and managing multiple moving parts presents a significant challenge in terms of ensuring quality service, addressing cybersecurity risks, and adhering to regulatory compliance requirements.
Recognising the importance of overseeing the vendor ecosystem, businesses are paying greater attention to the vendor management function. Designed to facilitate collaboration among multiple providers within the sourcing model, as well as alignment between the sourcing model and the business, vendor management provides critical governance oversight and is uniquely positioned to act as a bridge that connects myriad stakeholders.
Vendor management has traditionally been retained by the client organisation. Intuitively, this approach has certain merits, as it can enable consistent oversight to multiple agreements. Increasingly, however, mature enterprises are engaging third-party specialists to manage the day-to-day oversight of transactional activity and collection of operational data related to vendor management. By outsourcing the management of their outsourcers, clients are able to reduce costs, improve service delivery, and focus their internal resources on developing richer relationships and strategic value.
The most striking benefit of an outsourced model is cost savings. To oversee an IT services contract valued at $25m (£17m) to $30m (£21m) a year, a typical in-house VMG function requires a relationship management role supported by contract, performance, risk and financial analysts (approximately five FTEs), together with an investment in asset management and utilisation tools. Under an outsourced services scenario, meanwhile, vendor management activities are delivered largely by offshore resources, and client staffing requirements are limited to relationship management (typically one FTE). Over a five-year contract period, annual savings average approximately 30 per cent.
The outsourced model is also more scalable, since a high proportion of additional workload can be absorbed by cost-efficient offshore resources. While a retained function can replicate standards and process discipline across multiple contracts, an increased volume of work requires the hiring of additional retained – and more expensive – staff.
Outsourcing vendor management to a third party is also more likely to drive the process standardisation and consistency required to enable the transparency essential to effective governance. Any single contract for IT or business process services is characterised by a wide range of recurring commitments, deliverables, and obligations. These include day-to-day activities related to service delivery such as identifying, tracking and closing incidents and problems, responding to and implementing change requests, resolving problems, and collecting and reporting data. These daily activities, in turn, inform contractual documentation such as monthly obligation, risk and service level compliance reports, in addition to resource unit consumption and invoices.
Effective oversight of daily obligations comprises the operational layer at the base of a governance strategy pyramid. Clearly defined and consistent data, processes and reporting mechanisms provide an operational foundation for sound decision-making and continuous improvement. Meanwhile, flawed data, inconsistent reporting and one-off processes compromise the foundation of the governance strategy and limit the business’ ability to drive value from the outsourcing relationship.
How service providers use ITIL
The challenge lies in driving true consistency across the service delivery model. While the Information Technology Infrastructure Library (ITIL) framework provides a widely accepted set of standards around basic operational activities that include managing incidents, problems and changes, different service providers tend to apply subtle but unique flavors to their interpretation of ITIL guidelines.
This creates the potential for inconsistencies to arise when different providers execute and report basic tasks and functions. One provider might classify an incident as closed when the technician reports that the incident has been resolved. A second provider, meanwhile, might classify the incident as closed only when the user who reported the incident indicates that the incident has been resolved. This subtle difference has a significant impact on the performance metric of incident resolution time. Specifically, resolution time will be notably faster under the first provider’s approach, which does not factor the time it takes the end user to send an email to close the incident. At the same time, that approach doesn’t account for situations where the technician closes the incident, but the user is still having a problem.
Even this subtle difference in reporting procedures – if repeated thousands of times a day across multiple processes and multiple vendors – creates inconsistency in data collection that can have a significant negative impact.
Rather than collecting consistent operational data to be analysed to drive continuous improvement, the business gathers sloppy data, seriously compromising the effectiveness of the governance function. Put differently, if the granular data comprising the base of the governance pyramid is flawed, the strategy layer at the pyramid’s peak will yield minimal value.
The key is in the detail
In-house vendor management resources often fail to take the essential deep dive into clarifying the nuances of how different providers interpret standards that are seemingly clearly spelled out. For one thing, they will wrongly assume that a standard and consistent process is in place, simply because it is described in a statement of work.
Moreover, the attention to detail and depth of administrative minutiae that characterises operational governance is both tedious and time-consuming. As a result, many in-house vendor management teams will abdicate their oversight responsibility, either through a lack of commitment or a lack of resources.
The value proposition of a third-party vendor management specialist, meanwhile, is built on efficiently executing the tedious and time-consuming tasks of operational governance.
Another advantage of outsourcing transactional vendor management and governance functions is to offload responsibility for recruitment and retention. While talent management is a basic benefit of any type of outsourcing, finding the rare breed of individual with the skills and inclination to be effective at VMG presents an especially daunting challenge.
A vendor management analyst’s typical day begins with a list of 15 to 20 overdue obligations that require tracking, inquiries, repeated follow-ups and persistence. In addition to organisational skills and attention to detail, the role requires bulldog tenacity and commitment.
The analyst role, moreover, is by definition characterised by one-offs, exceptions, and special cases. As such, while Robotic Process Automation (RPA) is eroding the competitive advantage of labour arbitrage in many areas, VMG remains a people-focused domain requiring a high level of human intervention.
After years of neglecting outsourcing, business stakeholders are paying close attention to how outsourcing supports key business objectives. As the vendor management function faces growing pressure to deliver, many businesses are finding that third party specialists are ideally positioned to address the challenges involved in overseeing complex, multi-provider service delivery models.
David England is a Director with Alsbridge
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Article source: http://www.itproportal.com/2016/06/07/the-case-for-outsourcing-vendor-management/
Many companies have embarked on a digital transformation of their business in an effort to increase sales and support customers through online systems, apps and social media. IT organizations are encouraged to develop a “fast” or “second gear” mindset capable of operating at internet speed and being focused on a digital transformation. Carrying out this shift while simultaneously supporting legacy systems that cannot be changed as rapidly is a tall order for many IT organizations. In-house IT departments must either learn to reinvent themselves so they can adapt to the fast-paced evolution of technology or outsource these efforts to quickly gain the expertise needed. IT outsourcing, or more specifically, outsourcing the creation of innovative and dynamic software apps and systems, is a reliable way for companies to ramp up a development team for the required fast gear.
My previous article focused on outsourcing the slow speed of two-speed IT. The two-speed IT strategy is popular because it helps companies understand the difference between the traditional “slow” focus of IT, centered around maintaining internal business-critical systems, compared to the “fast” UX design and DevOps focus needed to create dynamic online and mobile, customer-facing apps.
The rapid growth in new technologies such as the Internet of Things (IoT), mobile apps, big data analytics, and seemingly unlimited cloud storage and compute power has profoundly changed every industry. Companies like Amazon, Facebook and Google have aligned their technology and IT systems with their business goals. They limit the size of their software engineering teams to support efficient agile and Kanban methods of development. Product managers think about entire user experiences instead of single features. Leading internet companies rely on frequent testing, experiments with the user interface and collecting data about consumer behavior in their products to learn what works and what doesn’t, even at the risk of failure.
The building blocks of digital enterprise architecture
According to McKinsey Company, a digital enterprise architecture needs to include several elements to facilitate digital transformation:
- Two-speed IT architecture – as described here
- Instant cross-channel deployment of functionality – using microservices for small features or functionality that are deployed in minutes or hours
- Zero downtime – using test-driven development (TDD), continuous integration and deployment (CI/CD) that enable the update of individual pieces of functionality without disrupting the entire system
- Real-time data analytics – analytics that become an integral part of the app and not just a stand-alone process
- Easy process configuration – business users are able to change features without custom coding
- Automated scaling of IT platforms – scalability across redundant private and public-cloud environments to eliminate potential slowdowns and downtime
- Secure architecture – cybersecurity as an integral part of the overall application
Outsourcing provides these elements and accelerates the transition to a two-speed model. The agile culture required to think of software as a product, created in a factory-like manner with continuous improvement is achieved much more easily in an outsourced software development shop that is an expert at product development, rather than building a “fast” IT team and culture in a historically “slow” IT organization.
What are the risks in outsourcing the faster portion of IT?
For most technology executives, the question is not whether to outsource but what to outsource. There are two popular models of software outsourcing for fast IT:
- Team extension – your developers work together with the outsourced developers
- Autonomous team – the outsourced team(s) do all the development and you provide a product owner(s)
In both cases, the outsourced team has a significant responsibility to perform and there is a risk they won’t rise to the occasion.
To start, there is a risk you will select the wrong IT outsourcing firm. For example, the company you hired for slow IT maintenance of your legacy systems is probably the wrong choice for fast IT. You also face internal risks, as well. You will need one or more knowledgeable product owners who will be in frequent contact with your outsourced teams, and you may have to watch for declining employee morale. Underperformance and passive/aggressive behavior are common with employees who think their jobs are at risk.
Fast IT outsourcing benefits
There are also many rewards you should expect to see when outsourcing:
- Access to the latest technology – good software outsourcing companies keep up with the latest trends
- Cost savings – IT outsourcing to some locations has a lower cost structure, even when factoring in travel
- Expert developers – it’s difficult to hire great developers, but IT outsourcing firms are constantly recruiting in under fished markets for the specific qualifications and certifications needed by their clients. Good software outsourcing companies have a pipeline of qualified candidates available to them
- Flexibility – even if you can hire developers, you have limited ability to ramp up and ramp down teams as your needs change
The two-speed IT architecture is a good model for enabling the digital transformation of your company’s business in an agile and dynamic manner, while also delivering the positive user experience expected by customers. Fast or slow, there is a role for IT outsourcing in any company that is serious about digital transformation. There are many great software outsourcing companies to choose from in several convenient global locations. It is important to select a partner for your fast-mode outsourcing that is an expert in the technologies, methodologies and best practices of UX design and DevOps that you need.
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Article source: http://www.cio.com/article/3079757/application-development/outsourcing-the-fast-speed-of-two-speed-it.html
PRAGUE, June 7, 2016 /PRNewswire/ –
The International Association of Outsourcing Professionals (IAOP) Recognizes IBA Group - http://www.ibagroupit.com in Four Judging Categories of The 2016 Global Outsourcing 100
On June 6, the International Association of Outsourcing Professionals® (IAOP®) published The Global Outsourcing 100®, the listing of the world’s top outsourcing service providers in a special advertising feature of the 2nd Quarter 2016 FORTUNE 500 issue of FORTUNE® magazine. IBA Group is included in the Leaders category and recognized for Customer References, Awards Certifications, Programs for Innovation, and Programs for Corporate Social Responsibility.
Companies of all sizes, from around the world and from across the entire outsourcing industry – information technology outsourcing, business process outsourcing, facility services, real estate, design, testing, manufacturing and logistics just to name a few – applied for inclusion on the list.
The Global Outsourcing 100 list comprises both larger established global firms referred to as ‘Leaders,’ as well as smaller, faster growing firms referred to as ‘Rising Stars.’ Companies are first organized by Leader or Rising Star criteria and then evaluated based on the following five judging categories.
1. Size and Growth as measured by revenue, employees, and global presence.
2. Customer References as demonstrated through value being created at the company’s top customers
3. Awards and Certifications as demonstrated through the value being created through industry recognition, and relevant organizational and individual professional certifications.
4. Programs for Innovation as demonstrated through specific programs and resulting outcomes that produce new forms of value for customers.
5. Corporate Social Responsibility (CSR) as shown through corporate programs and outcomes that address such topics as community involvement and development, labor practices, human rights, fair operating practices, environmental impacts, consumer issues, and organizational governance.
IBA Group was recognized as a top company in four of the five categories, receiving the highest possible score (8) for Customer References and Corporate Social Responsibility. Compared with last year’s results, IBA Group was awarded two more distinctions in judging categories and improved its overall score by 0.75. In addition, the company’s overall score exceeded the average score of all companies participating in this year’s program by 1.35.
“Buyers understand there are hundreds of qualified service providers and advisors out there, but what they really need to understand now is what makes each one exceptional. The Global Outsourcing 100 has done just that. We’re proud to recognize IBA Group for being among the highest rated companies in customer references, company awards and certifications, programs for innovation, and corporate social responsibility,” said Debi Hamill, IAOP CEO.
Sergei Levteev, IBA Group Chairman, added: “We are happy to be included in the Leaders group of The Global Outsourcing 100 for the fourth consecutive year. Being recognized as a top company in four of the five judging categories is also a significant achievement. We improved the last year’s results and look forward to new accomplishments.”
He went on to say: “IBA Group is currently celebrating the opening of its own campus in Belarus High Tech Park. It is also an important milestone for the company. I am confident these achievements will inspire the IBA team to deliver the highest standards of performance and excellence.”
IAOP is the go-to association leading the way to improve outsourcing outcomes by bringing together customers, providers and advisors in a collaborative, knowledge-based environment that promotes professional development, recognition, certification and excellence. With over 120,000 members and affiliates worldwide, IAOP is not only on top of the latest trends but in front of them. Through its expansive global chapter network, premier training and certification programs, knowledge center, member community and more, IAOP helps members learn, grow and succeed. For more information and how you can become involved, visit http://www.IAOP.org.
About IBA Group
IBA Group is one of the largest IT service providers in Eastern Europe performing software development, migration, maintenance, support, and IT consulting services with more than 2,600 IT and business professionals. Headquartered in Prague, Czech Republic, IBA Group has offices and development centers in the United States, Great Britain, Germany, Czech Republic, Belarus, South Africa, Cyprus, Russia, Ukraine, Kazakhstan, and Slovakia. IBA Group focuses on mainframe systems, enterprise applications, web solutions, SAP, business analytics, and mobile applications. IBA Group is recognized by the International Association of Outsourcing Professionals (IAOP) as one of The Global Outsourcing 100 in the Leaders Category, and ranks as one of the world’s largest software companies in the Software Magazine’s Software 500. In 2015, 2014, 2012, and 2011, IBA Group won IT Europa’s European IT Software Excellence awards. For more information, visit http://ibagroupit.com
Corporate Communications Director
Tel. +375 2697912
SOURCE IBA Group
Article source: http://www.prnewswire.com/news-releases/iaop-recognizes-iba-group-in-the-2016-global-outsourcing-100-582077661.html
Swedish bank Sparbanken Syd has turned to outsourcing to improve the cost-efficiency and quality of its trading business.
The organisation – Sweden’s oldest savings bank – has signed a five-year outsourcing agreement with Finnish service provider Tieto, which covers IT systems, operations and back-office services.
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“Over the last ten years the fixed costs of running operations have increased and the margins of the business have gone down,” Hans Nelfelt, vice-president at Sparbanken, told Computer Weekly. “So if it’s not your core business and you don’t have the necessary scale, you should outsource.”
The deal expands on Sparbanken’s existing relationship with Tieto. The bank already uses trading management software from Tieto, which will now be migrated into software as a service (SaaS). New to the collaboration is business process outsourcing (BPO) of the back-office services, including system support and process management, as Tieto will take charge of the entire securities process from ordering to settlement.
Nelfelt said he believes this combination of software and process outsourcing will help to develop its securities offering more cost-efficiently.
“We have to be able to supply good savings products and advice, but trading is not a core service for us,” Nelfelt said. “Of course cost savings are a goal for outsourcing, but also to be able to deliver a good service.”
In addition, the bank hopes the agreement will streamline Sparbank’s trading processes with its existing outsourcing strategy. The bank has a small IT team of six people and relies heavily on partnerships.
Most of Sparbanken’s IT infrastructure, maintenance and development is handled by Skandinavisk Data Center SDC. However, Nelfelt said the decision to outsource securities trading to Tieto was simple, as it was the only supplier in the Sweden’s securities sector to cover both SaaS and BPO outsourcing.
“It was also a natural choice. We already use their system so it won’t be a complicated transformation process,” Nelfelt said.
He said there will be minimal impact on Sparbanken’s 65,000 private and business customers, as the user interface will largely stay the same, he said.
Preparation essential to yielding benefits
Nelfelt stressed that, while the outsourcing is not a dramatic change for the bank, the transition of all trading processes has its challenges. “It’s very tempting to take shortcuts and try to make it easier by keeping part of the processes in-house, but then you wouldn’t be able to get all the benefits you want,” Nelfelt said.
“We have done quite extensive work in mapping and defining the processes Tieto will be doing for us. It has taken time, but it is very important to do because you save that time and money in the actual outsourcing.”
The software migration is currently being finalised and the transfer of its back office services will be concluded in early September 2016.
Sparbanken is not alone in its move to outsourcing. According to the 2016 Nordic IT outsourcing survey, published by PA Consulting and White Lane Research, 50% of Nordic companies in the finance sector plan to increase their outsourcing. This is slightly higher than the average of 46% across all industries
Article source: http://www.computerweekly.com/news/450297888/Swedish-bank-Sparbanken-Syd-expands-IT-outsourcing-to-trading
City Finance Reporter for the Daily Mail
Rupert Soames, boss of Serco, has bought 120,000 shares in the outsourcing firm for 107p each.
The 57-year-old married father of three, a grandson of Sir Winston Churchill and brother of Tory MP Sir Nicholas Soames, bought the shares at the end of last week.
The outlay of £128,400 has already paid off with the shares at 112p last night – valuing the ones he bought at £134,400.
Soames, the former chief executive of power hire group Aggreko, took over at Serco in 2014 and has a basic annual salary of £850,000.
He earned a total of £2.2m last year.
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Article source: http://www.thisismoney.co.uk/money/markets/article-3628044/DIRECTOR-S-DEALS-Serco-chief-Rupert-Soames-buys-128-400-shares-outsourcing-firm.html