The Dirty ’O’ Word

Data managers are no longer shocking us with talk about outsourcing - some of them are actually doing it.

Choose or Lose

With outsourcing options multiplying daily, here are some tips on how to find the right partner for your business:

- Outsourcing doesn't necessarily mean offshore. "Deutsche Bank uses the term 'smart sourcing' because some projects are internal, but located in lower cost areas," explains David Paris of Deutsche Bank. Paris' firm sends some smart sourcing to its internal Sydney office because, he says, "The cost of doing processes is lower, and the quality of people is just as good or better."

- Create detailed service-level agreements. UBS' Jim McDade points out, "The area of liability is always a serious concern, and it needs to be clearly understood by the outsourcing and in-sourcing entities."

- Stay in close communication with your outsourcing partner. Paris notes that Deutsche Bank has an internal employee posted at its offshore outsourcing site. In addition, the firm sets up checkpoints to examine data before it continues through the business process.

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