Australian Financial Services Firms Ramp Up Their IT Offshoring Efforts

The move toward IT offshoring is already popular within the finance sector in Australia — particularly in the banking sector. Some firms have moved IT roles offshore to their own captive centers while others use third-party Indian providers and other providers that have a global sourcing capability for support and project work. However, the current financial crisis will offer firms an opportunity to take their offshore sourcing strategy to the next level. Forrester recommends that Australian financial services firms move more of their IT offshore to continue improving their cost base, sustaining or improving their service levels, and upgrading their access to high-quality skill sets.