No Match Found
PwC’s Trust & Transparency Solutions (TTS) team helps providers and recipients of outsourced services manage regulatory and business requirements so they can concentrate on their specific core business.
Our proven and leading controls reporting methodology provide you the following benefits:
Outsourcing key processes (and their underlying internal controls) allows a company to minimise the cost of business and focus on its own core processes. Having an expert service provider take care of the middle and back office, technology and other non-critical functions gives you the comfort of knowing your business operations are running smoothly and that you are compliant with applicable laws and regulations.
A wide variety of processes are being outsourced to specialist back office and technology service providers. Common examples in the financial services sector are asset management, fund accounting, custody, know your customer (KYC), transfer agency, retirement plan record-keeping, mortgage processing, payment processing/servicing, underwriting and claims processing services. Beyond the financial services sector, a wide range of managed (technology) services are being outsourced, including document management (archiving and destruction), cloud infrastructure (IaaS, PaaS, SaaS), payroll, secure logistics, data centre facilities, helpdesks and many other administrative and technology services.
Yet service providers, especially those working for the financial services and health industries, have to demonstrate to their customers and their customers’ stakeholders that they can provide complete, accurate, and secure transaction processing, and have well-controlled IT and transaction processing environments.
On the other side of the equation, recipients of outsourced services have to monitor the services delivered on a regular basis to make sure they're not only working for the business, but that they’re also compliant with the rules and regulations for the relevant industry.