Thursday, September 25

Call Centers: Outsourcing to India Saves Financial Services Companies $25 Million

DURHAM, N.C., Sept. 24 /PRNewswire/ -- Financial service corporations that outsource 1,000 jobs overseas can expect upwards of $25 million in savings, according to business intelligence firm Cutting Edge Information.

India, where the cost of labor is about an eighth of U.S. costs, has become a valuable solution to high turnover and workforce apathy in American call centers. When outsourcing overseas, many financial services companies consider India first. Primarily, Indian call center employees tend to be more enthusiastic and turnover averages only 5%.

"Managing Financial Services Call Centers," available at contains more than 200 metrics and features practices from top financial services companies, such as Merrill Lynch, Fidelity Investments, Citigroup, Capital One, Allstate, Wachovia and MetLife. The report highlights budget and staffing metrics, as
well as strategies and tactics to enhance overall call center efficiency and boost customer satisfaction.

"Customer service has improved drastically when call centers relocate toforeign countries," says Cutting Edge Information senior analyst Elio Evangelista. "India is an excellent place to outsource because they hold customer service jobs in high esteem and workers tend to care much more about their jobs."

For example, one financial services company relocated its call center operations overseas, allowing them to cut labor costs by 50%. The company also discovered that the foreign workforce was more skilled than local one had

"Managing Financial Services Call Centers" showcases quantitative metrics and qualitative practices in the following areas:

* Call center agents' incentive and compensation packages
* Turnover, blocked calls, cost per rep and many other key performance
* Inbound and outbound call metrics for the financial services industry
* Up-selling and cross-selling strategies
* Offshore outsourcing
* Process efficiency and call center technology

To view the online summary of this 114-page report, visit .