Show Me the Knowledge
Chris Pryer, Business Writer
Knowledge sharing helps CNA Insurance provide great customer service by storing all company knowledge in a searchable database.
Research & Insight
Research & Insight
BFSI
All or Nothing at All: An Outsourcing Drama of Contrasting Characters
Outsourcing Center, Kathleen Goolsby, Senior Writer
Just knowing the objectives you want to achieve by outsourcing is not enough. You have to build a strong relationship. Here’s the story of innovative first steps taken to ensure the Bank had the right partner and that the parties won’t be having any tug-of-war incidents.
How to Maximize the Alliance Factor in Outsourcing
Outsourcing Center, Kathleen Goolsby, Senior Writer
How to create an ‘us’ without destroying the ‘me’ in an outsourcing relationship.
Getting Hitched
Outsourcing Center, Kathleen Goolsby, Senior Writer
How can you minimize risks when selecting a fairly new company as your supplier? Here’s what BP and Bank of America did when they outsourcing their HR to Exult.
When Employee Satisfaction is Key
Outsourcing Center, Kathleen Goolsby, Senior Writer
Deutsche Bank, with commercial banking and investment bank services, aims to be one of the world’s leading investment banks. And it depends on its employees to make that happen. Since it relies on employee competence and commitment to excellence in customer service, Deutsche Bank makes every effort to attract and retain the best talent and to become the employer of choice.
Feathering Each Other’s Nests
Outsourcing Center, Kathleen Goolsby, Senior Writer
Birds of a feather flock together aptly describes the beginnings of the outsourcing relationship between Commonwealth Bank of Australia and its supplier-partner, EDS Australia. Both organizations are huge, both are global, both are renowned for the top-notch services they provide for their customers, and both fly on the wings of innovation when it comes to business ventures. Commonwealth is Australia’s largest domestic financial services organization (largest domestic bank, largest funds manager, largest online stockbroker, and among the largest insurance companies). It has more than 10 million customers, more than 110,000 location points, 3000 ATMs, 120,000 point-of-sale terminals, Internet banking, online telephone banking; and its Web site handles more than 10% of the total trades on the Australian stock exchange on any given day. 1,400 Commonwealth employees transferred to EDS when the October 1997 contract was signed.
Getting a Handle on Purse Strings
Outsourcing Center, Kathleen Goolsby, Senior Writer
Because of its poor position with respect to costs (three years ago), the bank hired Peter Donald, an outsourcing veteran with noted success for the City of Melbourne. ANZ wanted him to identify outsourcing opportunities and to apply his prior successful principles in implementing outsourcing for the bank. Donald recalls that this departure from conservative thinking sparked internal challenges. Although the bank had decreed that something had to be done about its costing structure, there were degrees of tension among management when it came to identifying which opportunities might be selected. The opportunity identified was the bank’s procurement — its sourcing function — because it was not providing the level of strategic importance to the bank that was desired. We spend just under $1 billion Australian dollars per year in Australia and New Zealand (a total of about $1.5 billion worldwide) on a whole range of items from telecommunication to stationary, from technology to marketing and travel,