Source: Kaplan Financial

Date: May 2008

Type: White Paper

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Overview: Financial services companies increasingly are seeking efficiencies through Business Process Outsourcing (BPO), the end-to-end outsourcing of a business line or process. BPO clearly enhances control over business performance, whether by reducing costs, increasing the quality of processes, accelerating transformation throughout a business, creating a more flexible response to sudden external stresses, or through a combination of several benefits2. With BPO, the relationship between the company and the outsourcer changes as the latter becomes more of a strategic partner than a traditional supplier3. In today’s environment, senior managers face growing pressure from regulators relating to producer licensing and market conduct issues. Financial services companies question whether it is enough merely to be compliance-competent. To adopt industry leading best practices and achieve service excellence, the resources of an outsource specialist—such as Kaplan Compliance Solutions’ Licensing & Registration ServicesSM—may be essential. The standards that an outsource specialist can meet—increased productivity, efficiency, accuracy, paper flow management, and personalized problem-solving—simply may not be attainable by in-house compliance staff at an affordable cost.

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