Press release
Global Back Office Outsourcing in Financial Services Market Size, Status and Forecast 2025
Back office outsourcing is a cost-effective arrangement that helps organizations to save up to 30% of its operational costs. This cost efficiency is achieved because the outsourcing companies help enterprises to manage routine responsibilities at very minimal costs, which in turn, reduces their overhead liabilities. Back office outsourcing companies offer several benefits to the financial institutions such as access to specific domain knowledge, best practices, new ideas, and high-quality talent for data-related services. With such quality outsourcing services, the organizations are able to deliver projects in lesser time and at affordable prices.
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A key growth driver for this market is the need for greater efficiency and productivity. Given the limited workforce and budget allocation, there are always few specific business operations that a company is not able to focus on properly. Expansion through outsourcing of these resource intensive back office functions, such as monitoring budgets, maintenance of database, fielding queries helps companies to refocus on activities that are integral to the company's growth. Also, a huge chunk of the burden of employees is also brought down through the outsourcing of these administrative and procedural back office responsibilities. This, in turn, helps them to utilize the saved time in working towards core competencies of the company. One challenge that could hamper market growth is the high attrition levels and employee turnover in BPO companies.
In 2017, the global Back Office Outsourcing in Financial Services market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
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This report focuses on the global top players, covered
Accenture
Infosys
TCS
Attra Infotech
Birlasoft
Capgemini
Cognizant
Dell
eClerx
Endava
Market segment by Regions/Countries, this report covers
United States
Europe
China
Japan
Southeast Asia
India
Market segment by Type, the product can be split into
Hardware
Software
Services
Market segment by Application, split into
Large Players
Small Players
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QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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