Since the financial crisis of 2008, the financial services industry has been inundated with new rules and regulations that have consumed resources and increased spend on compliance. All of this is occurring at a time when the industry has also been under increasing competition from financial technology (fintech) firms. Whilst the fintech industry is booming by providing new innovative products at a rapid pace, traditional incumbents have appeared less agile at adopting these.
Outsourcing or nearshoring IT experts can be commonplace for some companies. These companies will likely understand both the business and technical benefits that outsourcing teams can bring to a project or organisation. As more businesses become driven by technology, demand for skilled IT workers will continue to grow in 2018, driving more companies to turn to outsourcing IT roles.
In this episode of the Sourcing Industry Landscape, Dawn Tiura interviews Tolga Tomar. Tolga Tomar is Director of Procurement at Thirty-One Gifts, a direct-selling company that empowers women to run their own consulting business. Tomar is a visionary who believes global sourcing is the future of the industry and is passionate about the positive impact it can have on communities across the world.
Let’s face it – many people believe governance is boring. It’s all about compliance, following arcane rules and paying attention to details. There is nothing transformational, customer-experiential or disruptive about it.
With the increased use of technology around the globe, the world is more connected than ever before. The capabilities of technology are improving quickly, so more and more employees are working with increasingly advanced technologies.
When considering Robotic Process Automation (RPA), a lot of adopters have made the strategic call that they want to create their own RPA capability internally. They want a Center of Excellence (CoE). It can be a comprehensive CoE or it could be components that are stitched together with other third parties, for instance. They want analysts that can identify and scout for good processes for automation and change. Or, they have the need for configuration, testing, ongoing monitoring of the automation, as well as maintenance and support.
Supply chain sustainability is a nice idea, but there are a lot of unanswered questions when it comes to the finer details. So, while genuine progress has been made, there are also a lot of businesses whose commitment to a sustainable supply chain is questionable.
Between budget cuts and complex contract language, managing IT spend and relationships with software vendors can prove to be quite challenging, especially if you’re not in a position with leverage. With new technology constantly being introduced to the market, best-in-class procurement teams understand the importance of being in a position with leverage – allowing the business to be in control of the vendors’ influence and the ability to evaluate alternatives.
Two years ago, the World Economic Forum (WEF) published its Future of Jobs report – exploring employment, skills and workforces in the Fourth Industrial Revolution. This sparked debate – and growing concern – around a changing global employment landscape as the result of disruptive technologies, studded with widening skill gaps, new jobs and job displacement.
Welcome to this new column. Every couple of months I’ll be getting on the proverbial soapbox and sharing my observations and opinions on all things ‘talent’ and how ‘work’ works. Please feel free to agree, disagree and add to the subjects via the comments sections below.
When a business is choosing which company to outsource with, location can often be overlooked in favour of the most appropriate specialist for the project. However, location – and especially proximity - should be a critical part of the decision process. For example, if your company is based in Europe, it will be more difficult to outsource from a provider based in Asia, due to a mixture of time, travel, language, and perhaps cultural differences.
By now everyone knows about outsourcing, the big issue of the 20th century that revolutionized the 21st century. But outsourcing didn’t start in the 20th century. In the 18th and 19th century Europe developed Imperialism, setting up colonies around the world. These colonies provided the language skills and education systems that made offshoring possible.