There is now a considerable amount of focus on outsourcing among cash management customers, both corporates and financial institutions. It is not just the financial outsourcing, which has been the traditional space for banks, but also commercial outsourcing – the entire end-to-end process across the supply chain that entails all aspects of handling payments, collections, accounting functions, billing and other processes.
“In Europe, in the financial institutions’ space, in addition to the continued focus on straight-through processing (STP), we are seeing interest in back-office outsourcing, white labelling, funds services and third-party administration business,” says Swati Mitra, managing director of Citigroup global transaction services. “Corporates are pursuing standardisation initiatives [and] adoption of technology-enabled cash, trade and securities services solutions that facilitate their order-to-cash and purchase-to-pay cycles.”
