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Leverage Technology and Expertise with the Right Outsourcing Provider

Our recent research, conducted in partnership with Global Custodian, revealed that companies are inclined to increase their outsourcing of operations when they have already outsourced one or more functions. In our recent webinar, we explored some of the concerns some firms may still have about outsourcing the middle office, as well as advice on how to start your outsourcing journey.

A strategic approach to determine the initial outsourcing priority is to identify the most challenging processes or components within your firm and gradually integrate outsourcing. Opting for a provider with scalable capabilities is crucial to accommodate your evolving needs effectively.

It’s important to keep regulatory compliance in mind when choosing an outsourcing provider. While some jurisdictions may hold providers accountable for compliance issues, it remains the responsibility of the outsourcing firm to ensure adherence to all regulatory standards. That responsibility comes into play through due diligence in choosing a provider with expertise in every jurisdiction where you do business.

Consolidating outsourcing functions with a single provider simplifies compliance management compared to engaging multiple providers. Choosing a larger provider capable of handling all outsourced processes is preferable to working with several smaller providers.

Establishing key performance indicators (KPIs) in collaboration with the provider from the outset is vital to evaluate the success of the outsourcing arrangement. These KPIs should encompass both short-term and long-term metrics. Watch the "Outsourcing Middle- and Back-Office Functions: An Assessment of Perceived Experience" webinar recording to learn more about choosing an outsourcing provider, measuring your success and adapting to regulatory changes.

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