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Hackett Research: Inflation, Geopolitical Unrest, Other Factors Drive Up Operational Costs of Finance for the First Time in Decades

The Hackett Group

Miami, FL — July 13, 2023 — For the first time in decades, most finance organizations experienced a significant increase in operating costs in 2023, driven by inflationary pressures, geopolitical unrest and other uncertainty factors, according to new research from The Hackett Group , Inc. NASDAQ: HCKT).

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The Future of Blockchain in Banking and Financial Services and FinTechs | Blog

Everest Group

McKinsey estimates blockchain is expected to save around US$4 billion in cross-border payments and US$1 billion in retail bank operating costs and reduce regulatory fines by US$2-$3 billion and annual losses from fraud by US$7-$9 billion. This can save money on transaction processing, leading to lower operating costs.

Banking 246
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How to Reduce Software Development Costs: Proven Strategies for Cost Optimization

Groove Technology

Outsourcing has emerged as an effective solution, helping businesses save significantly on costs through access to cheap human resources, reducing operating costs and increasing work efficiency. According to a study by Deloitte, companies can save up to 60% of operating costs through outsourcing.

Software 130
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4 Ways to Lower Operational Costs and Increase Efficiency

Metasource

You can remove myriad inefficiencies, keep your employees focused on more important tasks, reduce costs, and improve relationships with your clients and vendors. These services cut costs across the board while freeing up time for your employees to spend on the job you hired them to do instead of unprofitable administrative tasks.

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Revolutionizing Risk: Exploring Actuarial Outsourcing in Insurance | Blog

Everest Group

Outsourcing is a growing trend in the insurance industry to transform the actuarial function by reducing costs, creating innovation, increasing efficiencies, and filling the talent demand. Cost optimization: Actuarial outsourcing optimizes costs by using offshore resources and the specialized expertise of external partners.

Insurance 162
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How to know if your company needs a call center 

Redial

Escalating Costs: As operational costs rise, it’s essential to assess whether your current communication methods are cost-effective. Maintaining an in-house team solely dedicated to customer support can be expensive, especially when you consider hiring, training, and infrastructure costs.

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Dyanix & ScaleHub present: Harness the power of crowdsourcing to reduce costs and boost accuracy

ScaleHub

When leveraging the right crowdsourcing partner, you can reduce your operating costs, including substantial overhead and increased personnel, and improve your data accuracy to a rate of 99.x%. Harness the power of crowdsourcing and reduce operating costs while boosting data accuracy. Time: 11:00 AM CEST.