Financial institutions are playing a numbers game in the core of their business: they evaluate risks and opportunities of potential transactions and if the perceived benefits outweigh the associated risks they will agree to the deal. In the case of traditional banking, this is true for the credit approval process, whereas in the case of insurance companies, the correct evaluation of risk factors determines the conditions of an insurance policy. Like weather forecasts demonstrate, assessments of future events like risk factors or return expectations may occasionally be wrong.
In an interview with the Global process expert source-to-pay at Clariant SE and the Head of Global Shared Services Finance & Accounting Senior Vice President at Heraeus Holding GmbH, SSON collected some interesting insights about employees involved in change processes and the centralization of functions. Read all German language questions and answers here for free: http://bit.ly/SSOW-FSSC-Interviews
Robotic Process Automation (RPA) tools are being widely adopted across a wide range of enterprises and industries. By executing narrowly defined, repeatable tasks, RPA bots can drive dramatic productivity increases and significant cost reductions. For as little as $10,000 to $15,000 a year to deploy and maintain, a single bot can perform the routine, administrative tasks of five to ten people.
Herbert Simon explored the intersection of philosophy, science, politics, economics and a range of other fields and called into question the traditional idea that “economic man” acts rationally. Simon, who was a long-time professor at Carnegie Mellon University, received the Nobel Prize in Economics in 1978. Simon’s diverse research ranged across the fields of cognitive psychology, cognitive science, computer science, economics, management, philosophy of science, sociology, and political science; he helped lay the foundation for behavioral economists around the world.
The 'gig economy’ is a term that is hard to avoid nowadays. But what is it exactly and what does it mean for the outsourcing professional?
In a multi-partner service delivery model, transparency and visibility are essential to an effective security and supplier risk management (SRM) strategy. Yet a wide range of evidence suggests that this transparency is sorely lacking in many cases. According to a study by the independent Ponemon Institute, 73 per cent of suppliers that experience a data breach don’t notify other vendors in the supply chain, while more than a third (37 per cent) of suppliers don’t notify their customers.
Regular readers will know that each month I publish a column waxing lyrical about that month’s Outsource Talks webinar (typically a passionate, exuberant piece written from the heart, as I genuinely greatly enjoy hosting these “talkshow”-type events and, along with the audience, tend to learn a great deal from my invariably superlative panellists) and will probably have noticed the absence in November of such a column.