ABN Amro awards billion pound deal
Dutch bank awards billion-pound IT outsoucing deal to quintet of consulting firms
Dutch bank awards billion-pound IT outsoucing deal to quintet of consulting firms
Dutch financial services group ABN Amro has awarded a five year IT
outsourcing deal worth €1.8bn (£1.2bn) to five consulting firms including IBM,
Accenture, Infosys Technologies, Tata Consultancy Services and Patni Computer
Systems.
The only downside is that it will lead to the loss of 1,500 IT jobs at the
bank over the next 18 months.
The contract is part of cost-cutting measures announced by ABN Amro last
December when it said it planned to axe 2,850 jobs to generate annual savings of
€770m from 2007 onwards.
The deal is one of the largest ever in European banking and will generate
annual savings of €258m from 2007.
IBM has won the main slice of the contract and will earn about €1.5bn in
order to maintain the bank’s global IT infrastructure, including servers,
storage systems, data centres and desktops from November this year.
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article