Robotics will hit finance jobs harder than offshoring

Date : 25-08-2015

Financial services giants AMP and Westpac are exploring the possibility of automating back office and finance functions, some of which are offshored to low cost centres in Asia, using software systems.

Sourcing specialist for Mindfields Mohit Sharma said one of the reasons software and artificial intelligence will hit finance jobs harder than offshoring is because government departments will be able to utilise it.

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Rise of the machines as ANZ brings in robot workers to do the ′boring′ jobs

Date : 24-08-2015

ANZ has spent the past year refining a well-developed program of work in an emerging field known as Robotic Process Automation (RPA), whereby tasks previously conducted by employees are now done by increasingly intelligent software that learns on the job.

The emerging business trend is explained in a new report on RPA from Sydney-headquartered vendor agnostic sourcing and management advisory firm Mindfields.

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Time to ‘Modi-fy’ outsourcing strategies

Date : 26-05-2015

Australian businesses cannot be aloof to the ramifications from the outcome of recent Indian elections as they have outsourced more than 125,000 jobs to India over last decade. Indian share markets have jumped 41 per cent and the currency has sharply appreciated since Narendra Modi was announced as a prime ministerial candidate last September. India has also replaced the ASX in the Top 10 global stock markets.

Effects of Modi’s win might not emerge until 2015 or later, and this provides a short time window for Australian organisations to align their outsourcing strategies to his regime. Australian organisations, particularly in the financial services and education sectors, should expedite their India strategy both to increase revenue and lower their costs.

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Fairfax, Virgin look to outsource finance teams

Date : 28-04-2015

Offshoring plans under consideration at Virgin Australia and Fairfax Media could affect up to 250 finance and accounting jobs within the two companies.

Mohit Sharma, who is the Director of Sydney-based outsourcing advisory firm Mindfields stated that rising costs and the chance of vendors collapsing has made carve outs like the one Virgin is contemplating quite risky. He believes such deals are only sustainable where a corporation has multiple geographical locations with scale of more than 500 full-time equivalents.

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Mindfields drives innovation and excellence by leveraging disrupting technologies to optimize business processes that enable our clients to 'Grow for tomorrow'. We are a vendor-agnostic automation and artificial intelligence services firm.