Perficient Digital Transformation

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors.

Regulations 52

Regulations Banking Insurance Reduced Costs 52

ScaleHub

SEPTEMBER 8, 2021

Data means having an effective way to process that data and do so accurately to meet government and financial regulations. Some hire additional personnel—data entry personnel, managers, and the like and incur greater costs—which, of course, potentially zeroes out any gains. Business success is rewarded with substantial growth.

Reduced Costs 52

Reduced Costs Data Entry Business Process Outsourcing Out-Tasking 52

Everest Group

FEBRUARY 2, 2023

This can save money on transaction processing, leading to lower operating costs. Lack of understanding and mistrust in blockchain technology and uncertainty about regulations, cost savings, and security are among the main barriers to adoption that will require time for banks to overcome before they can begin implementation.

Banking 246

Banking Service Right-Sizing Automation 246

Magellan Solutions

APRIL 28, 2023

Increasing client demands, ever-changing regulations, and competition are some of the difficulties. With the rising inflation, insurance companies are looking for ways to reduce costs. Business Compliance : Ensuring compliance in regulating laws to avoid legal and financial damages.

Administrative 98

Administrative Insurance Outsourcing Data Entry 98

Everest Group

MAY 21, 2024

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. Explore the factors driving insurers to partner with specialized service providers and the advantages and obstacles of actuarial outsourcing.

Insurance 162

Insurance Outsourcing Flexibility Risk Management 162

Paysquare

JULY 26, 2023

By outsourcing accounting functions, businesses can not only leverage the service providers’ expertise and specialized resources but also reduce costs, improve efficiency, enhance compliance, and focus on core business activities. These professionals know the latest accounting standards, regulations, and best practices.

Accounting 95

Accounting Outsourcing Reduced Costs Regulations 95

Groove Technology

SEPTEMBER 27, 2024

Additionally, consider the geographical aspect of outsourcing: Onshore: Outsourcing within your country Nearshore: Outsourcing to a nearby country Offshore: Outsourcing to a distant country Hybrid: Outsourcing to combine more types of outsourcing A Deloitte study found that 59% of businesses use outsourcing to reduce costs.

Software 130

Software Outsourcing Offshoring Right-Sizing 130

Groove Technology

JUNE 12, 2023

This includes complying with local tax laws, setting up payroll systems, and providing benefits in accordance with local regulations. Employment Laws and Regulations Employment laws and regulations vary from country to country, and it's important to comply with them when hiring remote software developers.

Software 130

Software Payroll Jobbing Regulations 130

Magellan Solutions

APRIL 24, 2023

To maintain stability and safeguard the customers , insurance companies should follow the regulations. 5) REDUCED COSTS Outsourcing insurance compliance services lower operation costs. Insurance companies can also reduce costs, boost productivity, and focus on core tasks.

Insurance 97

Insurance Reduced Costs Outsourcing Call Center 97

Groove Technology

SEPTEMBER 26, 2024

Key concerns include: Data breaches Intellectual property theft Compliance issues with data protection regulations (e.g., encryption, access controls) Compliance with relevant data protection regulations (GDPR, CCPA, etc.) Are there unique challenges in outsourcing for highly regulated industries like healthcare or finance?

Software 130

Software Outsourcing Healthcare Offshoring 130

Groove Technology

JUNE 21, 2023

Offshore software development has become increasingly popular in the digital era, offering businesses the opportunity to access a global talent pool while reducing costs. Offshore development centers equipped with advanced technology frameworks may charge higher rates to cover the associated infrastructure costs.

Offshoring 130

Offshoring Software Labor Costs Collaborations 130

Amzur

AUGUST 27, 2024

By combining these technologies, healthcare organizations can accelerate drug development, reduce costs, and improve patient outcomes. Streamlining Regulatory Compliance Clinical trials are subject to stringent regulations. Data Privacy and Security: Adhere to strict data protection regulations.

Healthcare 103

Healthcare Automation Pharmaceuticals Reduced Costs 103

Redial

FEBRUARY 24, 2023

Considering investing in nearshore markets can be a smart way to expand your business operations, reduce costs, and take advantage of new growth opportunities. You’ll need to be aware of local laws and regulations and the stability of the legal and regulatory environment to ensure that your investment is secure and sustainable.

Nearshoring 100

Nearshoring Infrastructure Costs Labor Costs Call Center 100

Everest Group

APRIL 10, 2024

These innovations streamline operations, reduce costs, and improve efficiency, ultimately enhancing profitability margins. While multiple drivers beyond labor shortages are pushing providers to outsource, a few factors stand out.

Management 147

Management Healthcare Robotics Process Automation Analytics 147

Everest Group

MARCH 17, 2023

Technology and business process services (BPS) providers can help MGSs reduce costs and increase their digitization and automation intensity. With five key transformation levers described in this blog, MGAs can overcome challenges and unlock a wave of unprecedented sustainable growth. Read on to learn more.

Insurance 130

Insurance Robotics Process Automation Risk Management Risk Management 130

Hyland

JANUARY 9, 2023

This blog post explains how to radically simplify documentation work, reduce costs and eliminate errors by going digital using content services. Add to this the fact that even the most experienced firms often lack full knowledge of the various rules and regulations that may apply to any shipment.

Service 98

Service Regulations Administrative Automation 98

Everest Group

MARCH 24, 2023

The focus on rapid growth would take a backseat as enterprises pivot their attention to reducing costs and improving profitability. A potential economic slowdown would have ripple effects on the wealth management industry. Technology implications – will the IT estate need to be re-examined?

Management 130

Management Advisory Government Insurance 130

IBM Services

SEPTEMBER 18, 2023

Today, we are seeing significant digital disruption in the business of trade and supply chain financing that is largely influenced by global events and geopolitics, changing regulations, compliance and control requirements, advancements in technology and innovation, and access to capital.

Finance 87

Finance Banking Regulations Advisory 87

Groove Technology

JULY 3, 2023

Offshore outsourcing has emerged as a game-changer for businesses Understanding Offshore Outsourcing Services: Powering Business Success Offshore outsourcing services have revolutionized the way businesses operate, allowing them to access specialized skills, reduce costs, and focus on core competencies.

Offshoring 100

Offshoring Outsourcing Data Entry Reduced Overhead 100

IBM Services

DECEMBER 1, 2023

A hybrid multicloud approach combined with best-in-class security and compliance control features (such as controls IBM Cloud® is enabling for regulated industries) offers a compelling value proposition to large insurers in all geographies.

Insurance 103

Insurance Automation Regulations Reduced Costs 103

Globalization Partners

JULY 26, 2022

The good news is that you can adopt a global hiring strategy to reduce costs, diversify your teams, and put your company one step closer to successful growth. Keeping up with changes to regulations. How can you join the global hiring wave? This can involve: Registering with local authorities. Navigating new cultures.

Global Hiring 98

Global Hiring Global Recruiting Payroll Out-Tasking 98

IBM Services

NOVEMBER 8, 2023

Though the rule doesn’t go into effect until January 2026, companies must proactively and strategically prepare their supply chain now, as this complex regulation will require companies to collect and maintain detailed information about the ingredients, processing and distribution of certain products.

Inventory Management 111

Inventory Management Right-Sizing Collaborations Regulations 111

Sourcing Captain

AUGUST 15, 2023

They have a deep understanding of local markets, regulations, and industry trends. This efficiency allows them to reduce costs and pass on those savings to their clients through lower commission rates. Furthermore, China sourcing companies have extensive experience and expertise in managing complex projects.

Sourcing 130

Sourcing Supply Chain Management Manufacturing Collaborations 130

Perficient Digital Transformation

MARCH 7, 2022

Adding multi-shore resources to your digital project teams bolsters innovation, increases speed to market, and significantly reduces costs. For example, certain industries must comply with additional federal regulations for security and privacy. Tailoring an Optimized Global Delivery Model to your Organization.

Nearshoring 78

Nearshoring Offshoring Regulations Reduced Costs 78

Magellan Solutions

FEBRUARY 14, 2024

With rising costs and complex regulations overwhelming healthcare providers, partnering with overseas business process outsourcing (BPO) companies has become a strategic necessity. The partnership enabled Cigna to scale its operations and reduce costs while maintaining quality. This optimizes revenue cycles.

Call Center 98

Call Center Healthcare Outsourcing Insurance 98

Groove Technology

OCTOBER 1, 2024

Conclusion Outsourcing offers diverse opportunities for businesses to optimize operations, reduce costs, and access specialized expertise. A Deloitte study found that 59% of companies consider onshore outsourcing for certain functions.

Software 130

Software Outsourcing Nearshoring Offshoring 130

Automation Anywhere

JANUARY 11, 2021

Alongside reducing costs, improving efficiency is perhaps the primary objective of almost any chief information officer (CIO). Bots can standardize procedures in accordance with regulations so that organizations aren’t prone to expensive consequences from non-adherence such as costly fees.

Efficiency 97

Efficiency Robotics Process Automation Out-Tasking Automation 97

Perficient Digital Transformation

JULY 23, 2024

It’s a tale as old as technology itself – in an attempt to save time or reduce costs, testing is rushed, automated checks are bypassed, or edge cases are ignored. Regulatory Scrutiny: Depending on the industry, failures can attract unwanted attention from regulators, leading to fines and increased oversight.

Software 102

Software Automation Reduced Costs Regulations 102

Globalization Partners

MARCH 10, 2022

As remote-first companies have dispersed teams, HR departments must deal with international tax, compliance, and legal regulations — which is an added challenge for this working model. Even if these companies do have a physical office, they don’t need a big space to fit all the workforce in a single place daily, reducing costs.

Reduced Costs 98

Reduced Costs Flexibility Out-Tasking Jobbing 98

Amzur

SEPTEMBER 17, 2024

By leveraging low-code, healthcare organizations can accelerate development cycles, reduce costs, and increase agility in response to evolving patient needs. Ensure Security and Privacy : Implement robust security measures to protect patient data and comply with regulations like HIPAA. How Does Low-Code Development Work?

Healthcare 103

Healthcare Right-Sizing Reduced Costs Flexibility 103

Groove Technology

SEPTEMBER 26, 2024

This model is particularly popular among companies looking to reduce costs while dramatically accessing a vast talent pool. This model prioritizes ease of communication and cultural alignment over cost savings. Additionally, it allows for a 24/7 development cycle, potentially accelerating project timelines.

Software 130

Software Outsourcing Offshoring Nearshoring 130

Automation Anywhere

JUNE 30, 2021

By replacing legacy automation tools and automating the remaining repetitive manual tasks, RPA is helping IT Ops significantly reduce costs while increasing the quality of service that IT provides users. Robotic Process Automation (RPA) is changing all that.

Robotics Process Automation 97

Robotics Process Automation Out-Tasking Automation Software 97

Groove Technology

AUGUST 1, 2022

Global trade regulations that are constantly changing also force supply chains to innovate to keep up, often by investing in a transportation management system. The temperature can be monitored throughout the supply chain with cold chain management, with real-time information provided to the business and regulators in the country of origin.

Software 130

Software Supply Chain Management Automation Manufacturing 130

Velocity Global

APRIL 28, 2023

Organizations can adapt new technologies and equipment processes for competitive innovation and cost-cutting strategies domestically and abroad. Reduce Costs of Doing Business The global marketplace offers cost savings relative to a company’s domestic market.

Payroll 97

Payroll Regulations Marketing Reduced Costs 97

Mattsen Kumar

MARCH 7, 2023

Doing so can widen their reach to a larger audience, boost user engagement, decrease overhead costs, help them remain compliant with global regulations, and much more. Compliance Localizing eLearning materials can help EdTech firms comply with local laws or regulations in different countries where they are operating.

Reduced Costs 52

Reduced Costs Regulations Customer Support Marketing 52

Perficient Digital Transformation

JANUARY 3, 2022

High call volumes, combined with changing regulations and increased complexity of calls, can quickly overload even the most efficient call centers. Artificial intelligence (AI) and natural language processing (NLP) have a proven success record across many types of regulated call centers.

Pharmaceuticals 69

Pharmaceuticals Call Center Data Entry Customer Service 69

Groove Technology

MAY 25, 2023

With MuleSoft, businesses can streamline their operations, reduce costs, and improve efficiency by seamlessly integrating their data and applications. It’s important to ensure that data is protected and compliant with relevant regulations and standards.

Management 100

Management Supply Chain Management Sourcing Collaborations 100