IT supports UK outsourcing through the financial crisis

Confidence is high in UK outsourcing value for money as crisis continues

LONDON - Confidence in the increasing role of outsourcing for UK financial firms is undented by the market crisis, according to a survey of IT directors by Patni Computer Systems.

The research says 80% of IT directors are confident their outsourcing investment delivers value for money, with 40% revealing they intend to expand their outsourcing contracts within the next 18 months, against 22% planning to cut back.

Financial services is particularly looking to increase IT outsourcing, with some 48% of respondents planning to increase their outsourcing budget.

"The financial crisis is impacting businesses across all vertical sectors, with cost cutting and efficiencies coming to the fore," says Brian Stones, Patni's executive vice-president for Europe, Middle East and Africa. "It's not surprising to see that financial services companies in particular are embracing outsourcing which, along with other vertical sectors, ensure the ability to maintain service delivery and plug the skills gap during these uncertain times."