Managed Services in 2021­—Poised for Lift‑Off

The outsourcing of mission-critical business processes, together with non-competitive and often labor-intensive activities, has been an important feature of the capital markets for at least the last three decades. But now significant change is afoot, spurred on by market conditions that have continued to reshape the industry since the global financial crisis that began in 2007–08, by new technologies that are radically changing the outsourcing landscape and by the growing maturity of solutions offered by specialist providers. Additionally, the Covid-19 pandemic and work-from-home rules for large portions of the international workforce have acted as catalysts for change, driving increased growth in the adoption of cloud-based solutions in particular. All of these factors have combined to create an ideal scenario for the widespread adoption of managed services offerings, with capital markets firms on one hand maintaining their focus on managing their fixed operating costs and, on the other, seeking to manage large parts of the business as accurately, transparently and efficiently as possible. All of this means that the managed services market is now poised for lift-off, with firms increasingly seeking strategic responses to operational challenges. 

 

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