Market research firm Frost and Sullivan says more than a third of Australian financial services firms are going to take outsourcing route for information technology and other business process outsourcing requirements. Future figure for banking, financial services and insurance outsourcing is rosy at its best. The said segment companies will spend $2.63 billion on ITO and BPO by 2010.
But are much publicized Indian outsourcing giants like Infosys, TCS and Wipro are getting hugely benefited from the trend? Not strongly. Mostly, its global outsourcing giants like EDS, IBM are getting away with more spicy contracts. Later comes firms like multinational outsourcer CSC, Telstra subsidiary Kaz Group and BPO specialist Salmat.
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