Outsourcing: Out of Sight, Out of Mind

Over the past two decades, outsourcing has been on the rise from technology to customer service to business processing. BPO, or Business Process Outsourcing, has been a contentious but necessary evil for many financial services firms as P&L’s are strained with increasing expenses for regulatory demands and front office innovation. Many engagements begin great, but fail overtime. For firms who have yet to cross over into the offshoring realm, the myths and fears of compliance issues to decreased customer service weigh down executives deciding on whether to take the plunge into outsourcing or not. Voltaire and author Jim Collins so famously focused business executives on “good is the enemy of Read More …

Big data is BIG, but little data will score you the BIG job

Big data is the term for today’s complex and sophisticated data sets that prove challenging to manage with outdated data processing applications and stale data philosophies.  I know a prominent data executive that was not too long ago shown the door by his employer because he and his boss, the CTO, didn’t share the same data management philosophy. With this burgeoning data complexity corporate America responded with the advent of a Chief Data Officer.  The Chief Data Officer, a role that didn’t exist ten years ago, is charged with solving and governing the firm’s data and big data problems. While big data is the rage, if you are a line Read More …