The Commonwealth Bank of Australia announced today that before the year is out, it will finalise contract negotiations with HCL, IBM and Tata Consultancy for application services work worth AU$1 billion over five years.
Citing a slow down in financial services, IT outsourcing firm Tata Consultancy Services has chopped 15 SAP specialists from its Australian financial services division.
New Zealand's largest company, dairy group Fonterra, is considering outsourcing its worldwide information services functions to HCL in India.
Tata Consultancy Services (TCS) has snagged work on the Commonwealth Bank's core banking system replacement project, but a spokesperson for the bank today insisted Indian outsourcing firm was not a key partner like SAP or Accenture.
HCL Technologies has signed a wide-ranging deal with financial services software vendor Misys that will see the Indian outsourcer make further inroads into Australia's banking sector.
The level of outrage over the outsourcing of software development to India is disproportionate to the effect it is having on the local industry, according to analysis group Gartner.
Outsourcing customer relationship management -- generally seen as part of the business process outsourcing trend -- is a complex undertaking. And it's about a lot more than "shipping jobs overseas" ....
The question on the lips of most CIOs is no longer whether to send work offshore. It's a question of how much to send.
Get an insider's look at Commonwealth Bank of Australia's technology operation with chief information officer Michael Harte in the first of our Changing of the guards series examining generational change in the nation's big four banks.
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