MIp16-17_0709.qxd 9/7/09 07:33 Page 20
16 | Outsourcing
Support
Maximise
netw
profits
orks
The terms ‘outsourcing’ and ‘strategic
partnerships’ have become well-used phrases as
challenging economic times have called upon us
all to broaden our outlook and business horizons.
Phil Whitehouse, head of The Mortgage Alliance (TMA),
investigates
suggest that for the majority of best outsourcing specialists organise their linked. In other words, how a battle is fought is
I
consumers, the first thing that tends to processes to suit their clients' needs rather that a matter of tactics: whether it should be fought
spring to mind when it comes to the their own, and can deliver an equivalent at all is a matter of strategy’.
term ‘outsourcing’ is from the cultural, trading and operational environment. Basically, for all intents and purpose, a
experience gained by communications The bottom line is that brokers are putting strategic partnership should be a well thought
with overseas call centres. Strictly their brand and their reputation in the hands out planned relationship and certainly not one
speaking this is actually called offshore of other firms. They must be certain that the to be entered into without sufficient thought or
outsourcing but it is often easier to brand partners they chose are more than competent. research. Many firms have been guilty of either
everything under the same stamp when it Of course, a good record offers reassurance, but not having the time or resource to conduct
comes to the outsourcing process. it is equally important to ensure your partner is sufficient due diligence checks on potential
Outsourcing is now an accepted and widely receptive to change. affiliations or they have simply entered into
used business resource. There may be firms out A strategic partnership is not a million miles them lightly and often lived to regret it.
there who may still perceive elements of away from outsourcing but the word It is important to highlight the time,
outsourcing as possessing an element of risk ‘partnership’ essentially means that such a resource and expertise element here. Firms
but his can be quickly mitigated by a good relationship will work to benefit both parties and need to form an extensive checklist before
provider. The cost of outsourcing is bound to should be undertaken exactly as its title suggests. entering into an agreement. Relatively simple
play a part in any decision, but service should That great resource Wikipedia defines a strategy elements such as references, regulatory status,
be the main driver and enhancing the as a plan of action designed to achieve a financial structure, website content,
customer/client experience relies on robust particular goal reputational risk, TCF implications are just a
service backed up with strong guarantees. http://en.wikipedia.org/wiki/Objective_(goal). few elements in a comprehensive list that must
It adds that ‘The word strategy has military to be made. Many firms fall into the trap of
Competent partner connotations, because it derives from the Greek looking to form a local partnership on a ‘you
Firms are naturally looking at internal word for army. Strategy is different from tactics scratch my back and I’ll scratch yours’ basis
structures, overheads and staffing requirements http://en.wikipedia.org/wiki/Tactic_(method). and while these can prove advantageous, they
and evaluating the cost effectiveness in the In military terms, tactics is concerned with the also have the potential to go downhill fast as
outsourcing of certain resources. When looking conduct of an engagement while strategy is soon as the agreement turns a little one-sided
at such options, as a general rule of thumb, the concerned with how different engagements are and one of the parties reneges on the deal.
July/August 2009 Mortgage Introducer www.mortgageintroducer.com
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