The provision of outsourced business services is not, of course, a regulated industry. But many clients of outsourcing service providers are themselves in regulated industries – indeed arguably the greatest take up of outsourced (and offshore) business process services has been in regulated industries such as financial services and utilities. Regulators have therefore taken a keen interest in the implications of outsourcing and offshoring for their members, particularly with regard to operational risk and the potential impact on their customers.
Other industry sectors can learn a great deal from the way the regulators have addressed this issue – their guidelines are pretty close to a good practice summary for any outsourcing arrangement in any organisation.
Continue reading ‘Outsourcing – Lessons From the Regulators’ »