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(Hosting-NewsWire.com, May 31, 2016 ) Outsourcing refers to the transfer of business functions or services to a third-party service provider on a contractual basis. Companies primarily outsource to reduce costs and reap potential benefits such as gaining access to skilled expertise, flexible staffing, reduce turnaround time, improve efficiency, and generate more profits. Outsourcing is often divided into two broad categories, back office outsourcing, and front office outsourcing. Front office outsourcing often deals with customer-related services such as marketing. Back office functions comprise those tasks that help in keeping a business running smoothly and efficiently. They, however, do not make up the core of the company business.
Technavios analysts forecast the Global Back Office Outsourcing Market in the Financial Services Sector to grow at a CAGR of 7.46% during the period 2016-2020.
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Covered in this report The report covers the present scenario and the growth prospects of the Global Back Office Outsourcing Market in the Financial Services Sector for 2016-2020.
The market is divided into the following segments based on geography: Americas APAC EMEA
New report, Global Back Office Outsourcing Market in the Financial Services Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The 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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Key vendors Accenture IBM Infosys TCS
Other prominent vendors Aegis Attra Infotech Birlasoft Capgemini CGI Cognizant CSC Dell eClerx Endava EPAM EXL HCL Hexaware HP iGate Infosys ITC Infotech L&T Infotech Luxoft Mindtree Mphasis NIIT Technologies Polaris Consulting and Services Serco Global Services Softtek Sutherland Global Services Syntel Tech Mahindra Unisys Virtusa Viteos Fund Services Wipro WNS Xchanging Xerox Zensar
Market driver Greater efficiency and productivity For a full, detailed list, view our report
Market challenge High level of attrition and employee turnover For a full, detailed list, view our report
Market trend Increased adoption of digital and mobile solutions For a full, detailed list, view our report
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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