Ajay Kotkar
In these tough times, as the global financial industry is going through
turbulent times, the Asian banking and financial services industry,
relatively less impacted, is learning from the lessons and preparing for
the times to come.
While it is true that the banking and financial services industry, like
all other industries, has been utilizing outsourced resourcing
services, it is also a fact that it is the largest consumer of such
services in the white-collar segment. The resourcing industry too has
been quite responsive and has matured over time. What started with the
supply of resources on the lower rungs of projects has matured
significantly over time.
Over the recent past, more and more projects are outsourced in a
managed resourcing model as opposed to a pure resourcing model. The
resourcing agencies are taking up more responsibility and rather than
being a person-driven model, it is a service-level driven model, though
resourcing happens to be at the core of the model.
What started with lead-generation and account-acquisition in the
domain; has moved on and more and more projects – both functional and
technical – are being based around this model.
A recent global giant in the financial services space conducted an
exercise to short-list vendors for migration of their entire global IT
infrastructure. Some more are expected to follow suit.
The managed resourcing agencies from their end have also seen the
benefits of this model – essentially providing them with flexibility of
deployment and agility to cater to multiple clients with similar
requirements. Companies are gearing up for more mature work to come
their way under this model.
Managed resourcing is indeed an innovative way of working for most
resourcing companies at present. Earlier, they were finding it tough
positioning themselves as Project Company – which was the next step of
maturity for resourcing companies.
Now, with managed resourcing, the perfect sync has been found. It is a
win-win situation for both, the outsourcing company and the service
providers.
The resourcing companies are getting proactive and are gearing up for
special projects as soon as they are spotted on the horizon – IPV6, IBAN
(International Bank Account Numbering), being only a couple of
examples. They are moving from being local players – supplying resources
at locations, to managing entire resourcing projects globally.
The industry is maturing fast and while today it still seems to be a
niche where they are located, the time is not far when such companies
will have global footprints and become the norm of the day.
Ajay Kotkar
CEO Asia Pacific & Global BFSI Practice Head
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