FEXCO Outsourcing Brochure
Preface
When we meet organisations to discuss their business strategy, particularly in relation to outsourcing, we hear the many questions that they have about availing of services from a third party. One of the objectives of this booklet is to answer the common questions that organisations have about outsourcing.
The other objective of this booklet is to reflect the impact that the economic downturn has had on business operating models and to introduce the concept of Shared Sourcing. How companies like FEXCO, with investments made in telecommunications, infrastructure and people, can provide a stable and capable partner to organisations during the difficult economic years ahead.
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Preview of Contents
What is Outsourcing?
Outsourcing describes a relationship which exists between an organisation and a third party. It is a balance between Ownership and Risk. The Service Provider provides services to the Customer which is governed by an agreement and recompensed via a pricing structure. Both the agreement and the price are set at levels depending on the ownership of the people, processes and technologies needed to deliver those services and the risk associated with meeting the operational outcomes including commitment to service levels ...
Outsourcing in Ireland
Ireland has long been a recipient of global outsourcing decisions through the establishment of Foreign Direct Investment manufacturing and R&D units. With a small internal market, in global terms, Ireland is currently served by a number of successful, mid-sized indigenous outsourcing providers ...
Why Outsource or Share Source?
Companies today may choose to outsource a core or non-core function. Whether the service being outsourced is core or not, the decision to outsource must be part of a core strategy ...
Why FEXCO Business Services?
Our strategy is based around our Customers, Employees, Partners, the right Technology and Regulation ...
Outsourcing Models
A question which frequently arises in the mind of executives who have been asked to consider outsourcing as part of a business case is “What are my options?”. “Is it an all-or-nothing arrangement?”; “What functions are to be kept in-house?”; “What is the timescale of both the process and the arrangement?”; “What level of flexibility is required?”; “What do we really need?” ...
Overflow “Shared Sourcing”
Shared Sourcing is a model where a third party service provider such as FEXCO performs specific functions for selected, not necessarily sequential, stages of any scheme alongside the existing operator. The existing operator remains operationally involved in all stages of the scheme ...
Collaboration
In this operating model the external service provider (FEXCO) performs sequential functions of scheme with the scheme operators performing the remainder. This means that FEXCO bears some of the risks relating to the scheme operation ...
Complete Outsourcing
An external service provider (FEXCO) operates the scheme, managed by, and accountable to the stakeholder and scheme owner. In this arrangement, the services can be provided in either a ring-fenced Third Party Administration environment, or in a Shared Services environment where the tasks are performed alongside services provided for other clients ...
Transactional Outsourcing
Transactional arrangements are frequently put in place for an organisation as a whole, often to avail of cross-organisation cost benefits. However they can also be applied to a specific scheme, especially where the scheme involves multiple parties ...
Shared Services & Outsourcing
Frequently there is the question asked about how Outsourcing and Shared Services can operate together? A well proven business model in the private sector, Shared Services is increasingly being deployed in the Public Sector ...
How to engage with a Service Provider?
Organisations considering outsourcing should do so with their business plan in one hand and a clear criteria for selecting a service provider in the other ...
What are the indicators that outsourcing will work?
Outsourcing, more so than any other business tool, operates amongst many key business challenges: management of risk, ensure control of transformational projects, delivering successful transition from legacy operations, benchmarking performance against world class standards ...
Locations: Flexibility of facilities
FEXCO employs over 900 people at locations in Killorglin, Tralee and Cahirciveen in County Kerry with an additional 400 located in Dublin, London as well as Europe, the Middle East, USA, Singapore, Hong Kong, New Zealand and Australia ...
Human Resources: It’s all about people
FEXCO has taken an aggressive approach to talent acquisition with key appointments having enhanced overall capability for the challenges ahead including recruitment from Senior Executives, Finance, Training & Development, Quality and Project Management ...
Professional Services: How do you manage?
A key factor in making the decision to outsource is the management of transition risk in the transfer or sharing of services between service providers and the client. Who bears the risk and how are they identified? FEXCO addresses such risk through our Professional Services team which is a dedicated unit focused principally to the successful transition and set-up of new clients and contracts ...
Security and Resilience: How can you secure?
Security is a key consideration for any organisation. As FEXCO is involved in handling client data on a continuous basis, both physical and electronic security are key areas that have to be considered in any client relationship ...
Service Level Agreements
These, more so than the contract, represent how the operation is measured and performance tracked as a tool for both sides, the service provider and the client ...
Value Add
The important thing about value add is that it shouldn’t be intangible. It’s important to measure how initiatives by the service provider creates value and share the benefits. Our goal is to operate against KPI's that clearly define and measure the delivery of added value ...
Information Technology
FEXCO is an R&D driven organisation with a strong entrepreneurial spirit. All IT activities are based on providing more convenience and service to our customers and our employees. IT has both driven our success and enabled us to manage it ...
Pricing & Contracts
There are many variables to consider in outsourcing pricing, these include: Setup Costs, Fixed/Variable Cost Components, Full-time Equivalent (FTE)-based pricing, Transactional pricing, Penalties, Incentives, Committed Savings, Gain Sharing ...
Outsourcing and economics
It’s understandable that during a downturn companies focus first on tactical decisions regarding their businesses. In this context outsourcing is a business tool that can increase a companies options and sustain their success despite stronger competition, tighter budgets, reduced margins and reduced customer loyalty which characterise the difficult economic situation that prevails ...
