European financial services companies trail those in other industries in adopting outsourcing, a survey from CSC Financial Services has revealed.
Only 40% of the financial services companies surveyed had outsourcing contracts in place, compared with 71% of the telecom companies surveyed.
CSC questioned chief executives and chief finance officers of 250 of Europe's leading companies, many within the financial services sector.
It found that the need to reduce and control cost was still the dominant factor behind outsourcing decisions, with the majority of respondents seeing outsourcing as a way of achieving greater flexibility in both business and IT.
Looking ahead, nearly 70% of the chief executives asked said that in three years' time strategic outsourcing would be ‘important' or ‘very important' in terms of improving business results.
