More Outsourcing Fodder
My reply in the most recent JOS outsourcing thread... "Outsourcing should be especially terrifying to financial services/insurance organizations. Given the fact that their lifeblood is truly a set of business processes (i.e., moving bits around)... handing this domain knowledge off to a group in India, Romania, etc. could very well breed a new global competitor.
A bank or insurance company that farms out IT may, in fact, be building and training their own competition... ten, fifteen or twenty years from now.
Of course, I suspect some CEOs and boards are starting to get it. Bank One, I believe, stopped outsourcing and brought everything back in house. Still, I wonder how many institutions really understand the danger that outsourcing represents."
JOS - outsourcing thread