The analysts forecast global outsourcing market in BFSI sector to grow at a CAGR of 6.79% during the period 2016-2020.
Outsourcing refers to the transfer of services or business functions to a third-party service provider on a contract basis. Companies primarily outsource to reduce costs and reap potential benefits such as access to skilled expertise, flexible staffing, short turnaround time, improved efficiency, and profit enhancement
Organizations in the BFSI sector outsource both regulated and non-regulated activities to third-party service providers to reduce costs and identify key investment areas. Typically, the BFSI sector outsources IT service requirements such as application support and infrastructure management and support. Also, specific operations related to finance and accounting (F&A), back-office activities and processing, and administration and contract functions are outsourced. Outsourcing enables organizations in the BFSI sector to transfer their risks, meet changing regulatory compliances, improve customer services, and achieve cost-efficiencies.Covered in this report
This report covers the present scenario and the growth prospects of the global outsourcing market in the BFSI sector for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.
The market is divided into the following segments based on geography:
The report, Global Outsourcing Market in BFSI Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Other prominent vendors
- Attra Infotech
- Hexaware Technologies
- ITC Infotech
- L&T Infotech
- NIIT Technologies
- Polaris Consulting and Services
- Serco Global Services
- Sutherland Global Services
- Tech Mahindra
- Zensar Technologies
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- Increased need for cost reduction
- Data security and privacy concerns
- Application of automation technology
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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