Solution introduction

The outsourcing of business processes has become a key part of the operating model for many firms, it is an especially attractive proposition for new entrants and green field sites as there are few challenges with legacy infrastructure and integration.

There are many reasons why firms consider outsourcing:

  • Issues with legacy system(s), outsourcing is often considered as an option when a firm gets to the point where it would need to implement replacement system(s)
  • A desire to migrate several legacy operating models into a new outsourced model
  • Start-up firms not wishing to invest valuable capital in IT and systems infrastructure
  • A desire to de-risk IT spend due to regulatory changes and the cost of keeping up with the rapidly increasing pace of technical changes such as the move the digital

Depending on the issues with the current operating model there are several outsourcing options to be considered:

  • Full outsourcing of the selected business function, perhaps with data flowing to and from other systems that need to be retained in-house e.g. a CRM / KYC system.
  • Partial outsourcing of more granular business functions e.g. outsourcing client reporting or reconciliations whilst retaining other middle and back office functions

Our consultants have worked on a wide variety of outsourcing projects for:

  • Private banks
  • Wealth Managers; both for well-established firms and start-ups
  • Wrap platform providers
  • Third party administration (TPA) firms
  • Family offices
  • Private client stockbrokers

We’ve also helped firms to outsource business functions such as:

  • Front office (CRM, portfolio management, order management, dealing)
  • Middle office (clearing & settlement etc.)
  • Back office (asset servicing, client communications)
  • Global custody
  • Fund custody

Using our extensive market knowledge of outsourcing firms’ fees, we have assisted several of our clients with their contractual negotiations in order to allow them to get a very satisfactory outcome.

In addition to helping our clients’ select outsource partners our consultants have also continued to work with firms to manage the transition to and implementation of the outsourced service. Because we have vast experience of outsourcing we can help our clients to de-risk and fast-track the process and help them to avoid many of the common pitfalls. 

If you’d like to discuss how we can help you to fast-track and de-risk your outsourcing project then please get in touch.

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