IT outsourcing still in high demand in spite of economic crisis

by Editor 3/19/2009 4:17:00 PM
IT executives are still investing in the asset finance industry even though the economic outlook is a bleak one. The information technology sector has gained a greater share of operating budgets as a result of businesses wanting to be competitive on a global scale and to improve their efficiency and customer relationships.

"In asset finance, new technological capabilities coupled with gradually strengthened market demand has led to greater strides in the application of IT services and the outsourcing of processes,” writes Cameron Krueger of Capgemini. “This new model of outsourcing for the asset financing industry allows firms to finally focus on core functions such as portfolio management with a level of detail and access to information not available before."

With stricter compliance regulations and the credit crunch making cost cutting a greater priority, companies have started to launch restructuring campaigns and to invest in business intelligence improvements. IT executives are also under greater pressure to deliver services globally, improve intelligence and service and helm ambitious transformational projects.

Another factor that has helped boost IT spending is the fact that, owing to increased competition, cutting edge technology is simply not as expensive as it used to be. New IT solutions are not only more affordable, but also more abundantly available, which allows a growing number of businesses to improve their IT functions, outsource new business functions and finish major customer relationship management projects.

The combination of all these factors provides the asset finance industry with a chance to improve its service and offerings by considering outsourcing and offshoring solutions. Once the economy is back on its feet, these campaigns will put asset finance firms in a much better position for further growth.

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