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Bank of America. Businesses under the banking and financial industry deal with countless customers daily. Outsourcing is so effective that even the Big Four banking institutions in the United States have moved some of its operations offshore. Bank of America. HSBC Holdings is the largest bank in Europe. Telefónica.
In particular, the pharmaceutical and biotech sub-segments show a high demand for clinical research and drug discovery services. Meanwhile, the banking, financial services and insurance (BFSI) capital markets segment faces increased demand for more complex products, increasing middle office outsourcing activity. Reference: – [link].
In relation to this, during the pandemic, pharmaceutical companies such as Astra-Zenica have outsourced clinical research to CROs (Contract Research Organizations) to assist them with the drug development for the vaccines. The banking and finance sector is one of the industries where customers often need round-the-clock assistance.
Bank of America. Businesses under the banking and financial industry deal with countless customers daily. Outsourcing is so effective that even the Big Four banking institutions in the United States have moved some of its operations offshore. Bank of America. HSBC Holdings is the largest bank in Europe. Telefónica.
It can be easy to assume that Apple does this to save up on laborcosts, since labor tends to be cheaper in other countries. A leading global bank founded in New York, Citi has been outsourcing its tech operations since 1992. The pharmaceutical giant has been outsourcing its operations for decades.
Cost Efficiency Outsourcing reduces overhead costs associated with hiring, training, and maintaining an in-house team. Businesses can leverage cost-effective solutions, particularly in offshore locations such as the Philippines, where laborcosts are lower without compromising quality.
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