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Improving Cost Reduction and Workforce Productivity through Outsourcing- Success Story in the Financial Services Industry

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South Africa’s volatile economic environment provides challenges for organisations belonging to different industries. The disruptive nature of today’s business landscape forces organisations to evaluate their business models. The financial services industry in Africa is going through some strain due to globalisation. The dilemma continues for the search of skills, allowing an organisation to deploy ‘the right people at the right time’. New technologies have been found to disrupt the value proposition for existing services and products, thus improving service delivery and product offerings.

A technology company whose objective was to drive operational cost reduction, partnered with Deloitte’s Shared Services Centre in an outsourcing arrangement to optimise services in a more cost effective manner and provide access to additional skills and capabilities. Through this business partnership, the client has gained the following:

  • Vast skills and expertise
  • Continuous improvement
  • Reduction in costs
  • Swift resolution to queries enabled by a favourable time-zone

The client’s vision is to achieve operational excellence, by doubling their invoice processing productivity this vision would be half met. Deloitte’s service offering ranged from global accounts payable and supplier master file maintenance to travel and expense audit.

The art of constructing a successful business partnership takes considerable effort, but the benefits derived have equipped executives with the right tools to answer critical business questions on how to build a sustainable future for their organisations in conjunction with key partners.

Download our case study to read more about Deloitte’s business partnership in action in the Financial Service industry.

 

About the author

Deloitte South Africa

Deloitte is one of the country's leading professional services firms in Southern Africa, and is dedicated to assisting companies succeed in the business environment- whether it be through our tax, audit, consulting or financial advisory services.

At Deloitte, we understand that solutions are not just a static one dimensional report, but rather, an integrated and innovative answer that helps our clients to better understand key complex industry issues. Not only do our solutions assist our clients in making strategic business decisions, but our unique approach also allows companies to succeed in a competitive business environment by staying ahead of industry trends. Through the collective expertise of nearly 3600 people in 8 cities in South Africa and in 16 cities in Southern Africa, and as a member firm of the global organisation Deloitte Touche Tohmats, we have access to deep insightful and intellectual capital of more than 150 000 people worldwide.

Deloitte- A Culture of Excellence
A key contributor to Deloitte and our culture is the development of human capital. At Deloitte we believe in investing in our culture, in our clients and in our people. The very essence of Deloitte is to offer services of excellence, to both clients and staff, and we believe that it is this culture of excellence that will help us succeed.

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