To select the winner of its enterprise outsourcing award for 2007, Frost and Sullivan invited senior executives to rate the performance of their providers which formed part of the analyst firm's market research.
When it came to customer rankings one provider did particularly well and that was IBM, recipient of the Frost and Sullivan 2007 customer satisfaction award for enterprise outsourcing in the banking, financial services and insurance (BFSI) vertical.
Frost and Sullivan's senior industry analyst for enterprise outsourcing, Simon Hayes, said IBM continues to effectively leverage one of its key assets, its trusted brand name, while at the same time delivering real business benefits to its clients through its service delivery.
"Our survey has found that clients in the BFSI vertical acknowledge and value IBM's specialist knowledge of their industry, and rate highly its track record both within Australia and globally," Hayes said.
The survey included 25 senior level executives in the banking sector who had control or insight into their outsourcing budget and strategy.
"BFSI industry clients were asked to rate a range of service and product factors according to their importance for selecting an enterprise outsourcing provider. They were then asked to rate their current service providers' performances on the same factors," Hayes said.
"All ratings for each specific service provider were averaged to give a mean rating for each factor. IBM demonstrated outstanding performance almost across-the-board, with its BFSI industry clients rating it above expectations in most service factors, including the ability to deploy new technologies and adapt and improve business processes, as well as the ability to deliver services cost-effectively."
Frost & Sullivan estimates outsourcing revenues in the BFSI vertical totalled AU$1.83 billion in 2006 and will reach AU$2.63 billion by the end of 2010, growing at a compound annual growth rate (CAGR) of 9.5 per cent (2006-2010).
Responding to the award announcement, Rob Lee, general manger, financial service for IBM Global Technology Service ANZ said the company is delighted to be acknowledged by clients.
Lee will be presented with the award at a gala awards banquet in Sydney on November 16, 2007. It is the second annual best practice awards by Frost and Sullivan which recognises outstanding performance by leaders in the Australian ICT industry.
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