Scottish Widows sees "commercial sense" in outsourcing
One of the UK's largest financial institutions is to look into outsourcing a number of its operations in an effort to reduce costs, it has been announced.
Archie Kane, chief executive of Scottish Widows has confirmed that it would make "commercial sense" for the company to outsource some of its functions and has not ruled out offshoring some jobs, though he added that no attempt would be made to follow in the steps of Lloyds TSB and move thousands of positions overseas.
"We look at it from the point of view - does it make commercial sense and does it make operational sense to do these things?" Mr Kane told the Herald.
"We always look to improve our efficiency and effectiveness so you have always got to keep an eye on those things," he added.
Earlier this month research carried out by Syntel found that 53 per cent of large companies are planning on increasing their outsourcing levels over the coming year, with just 28 per cent expecting to cut back on the scale of IT operations they outsource to third-party specialists.
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