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Many major financial institutions employ outsourcing and offshoring strategies to gain a competitive advantage, but how do many of these organizations take a comprehensive or holistic risk-management approach to sourcing and decision making? "Managing outsourcing and offshoring risks holistically can mitigate disruptions to business processes and help financial services organizations achieve the efficiencies they seek from long-term vendor relationships," A comprehensive approach to risk management helps financial services firms address the risks at each stage of the outsourcing and offshoring life cycle - beginning with strategic assessment and carrying through business case development, vendor selection, contracting, service transition, and post-transaction monitoring and management.
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