Business Transformation Outsourcing In the Financial Services Industry
Transforming For Success: Critical Success Factors For Providers
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Business transformation outsourcing (BTO) represents the third generation of the outsourcing phenomenon. It may be defined as a partnering initiative to transform the enterprise and realize rapid, dramatic and sustainable improvement in its business performance.
BTO is used to spur innovation within a business and achieve time-to-market improvements through transformation. It helps to radically change the definition of the business: open new markets, create new products and services, achieve dramatic growth, enlist new customers, allow rapid diversification in a converging market, improve profitability, and reduce cost. It is a vehicle for changing a corporation’s relationships with customers, employees and business partners.
Transformation is achieved by collaborating with a service provider who serves as a powerful force of change, helping to dramatically improve capabilities critical to future success. Business performance improvement through BTO typically is measured in sustainable gains in share price, market share, ROI/ROA and customer satisfaction.