Global Outsourcing News

April 2008
No. 31

Banks rely on BPO for cost-saving lifeline

Being in the right place at the right time to benefit from business opportunities is not a result of lucky breaks. Smart planning and a solid foundation put strong companies ahead. Capabilities, rather than chance, make the difference.

This lesson is demonstrated anew as more banking and financial services companies turn to BPO support because of the U.S. mortgage credit crisis. As banks tighten spending to compensate for sub-prime lending losses, outsourcing becomes a vital cost-cutting strategy. A recent financial news service report predicts: “Banks will look to lower costs by outsourcing horizontal processes such as finance and administration . . . as well as more core areas like mortgage and loans processing.”  Deloitte Touche Tohmatsu consultants earlier predicted that the financial services industry will move 20 percent of its total costs offshore by the end of 2010 to remain competitive and to gain a foothold in new and emerging markets such as China.

CompuPacific already is a leader in providing vertically integrated services from China for commercial banks, investment banks and consumer lenders. In addition to American and European clients, our Financial Services Group supports domestic and international banks in China’s vibrant retail banking sector – which has been energized by changes in government regulations. 

As veterans of business process transformation, we are prepared to serve financial community needs in 2008 and beyond – without scrambling to chase the latest trends.

3G phone trial a ringing success
April 2, 2008, Shanghai Daily
 
China Mobile's commercial trial of high-speed wireless service known as 3G (third generation) is underway in Beijing, Shanghai, Tianjin and five other cities that are business and tourism centers. Samsung, Lenovo and LG Electronics make cell phones with new technology developed in China. Services include high-speed Web browsing, video conferencing and on-demand video downloads.
More >>

Outsourcing destination for global enterprises will be China
 March 17, 2008, People’s Daily

Cost advantages and other benefits give China the potential to exceed India as the outsourcing destination that is most valued by global enterprises, especially European and U.S. enterprises, predicted an Indian IT industry delegation visiting Wuxi, China. China is expected to gain a larger market share in coming years, said Rajdeep Sahrawat, vice-president of the National Association of Software & Service Companies (NASSCOM).  More >>

CompuPacific ranks 8th among Top 50 service outsourcing providers in China
April 2008, News release

The first annual list of the Top 50 Chinese outsourcing companies was compiled by Chinasourcing Co., Ltd., an industry group, based on quality audits, expert evaluations and feedback from more than 400 overseas outsourcers. CompuPacific International earned the No. 8 position, reinforcing its leadership role as a pioneer of vertically integrated BPO services from China.

“Our selection is a tribute to the dedication and skills of our managers, analysts, engineers, production associates, quality supervisors and other team members in China, the U.K., Australia and the United States,” said Michael Liu, founder and president of CompuPacific. “We’re proud that our commitment to superior service and innovative solutions is recognized.” 

Nearly 4,000 service providers were eligible for recognition. “Companies on the list represent the top level of China's service outsourcing industry and the best practices in offshore outsourcing in 2007,” says a release from Chinasourcing, an online portal and e-commerce platform for the industry. It describes the new list as “an important channel for overseas outsourcing buyers to find suitable Chinese partners.”

By placing among the Top 10, CompuPacific ranks with prominent software and IT service providers such as Beyondsoft Group, iSoftStone, Chinasoft and Objectiva Software.