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More outsourcing deals, Post U.S. recovery
Consumer goods exporter Li & Fung Ltd (0494.HK), which manages supply chains for retailers such as Wal-Mart Stores Inc (WMT.N) and Target Corp. (TGT.N), expects to sign more outsourcing deals within months as cash-strapped retailers in the United States look to cut costs in the economic downturn.
Despite the slump in the economy, Li & Fung President Bruce Rockowitz said he is optimistic that the current retail environment in the United States is close to a bottom, adding the company snapped up more orders from existing customers in the past six weeks.
The outsourcing deals in 2009 could be similar in size to the one the firm signed with fashion retailer Liz Claiborne Inc (LIZ.N), Rockowitz told Reuters in an interview on Tuesday.
"Some will be surprisingly big," he said, but declined to be more specific.
In 2009, Li & Fung could sign a similar number of outsourcing deals to the four signed last year, Rockowitz said. The 2008 deals included those with Sanrio (8136.T), Timberland and Mexx.
Source: Reuters
The UK's biggest insurance firm, Aviva, has continued to simplify its IT infrastructure and reduce the amount of network equipment it holds in house by outsourcing, says Comms-express.com
In its latest financial results, the company said consolidation of its IT services is continuing at pace.
With the aim of reducing costs and boosting efficiency, the firm said it is outsourcing a large portion of its business to reinsurer Swiss Re.
Document outsourcing surges
Outsourcing of strategic documents is becoming more popular as companies look to reduce expenses and costs during the economic downturn, reports BCS.
That is according to industry analyst firm Gartner, which said that any outsourcing of print and online documents should be done in a manner that does not compromise quality or confidentiality.
'Strategic document outsourcing offers organisations the opportunity to eliminate print and mail-related capital expenditures while potentially reducing material and postage expenses," observed Pete Basiliere, research director at Gartner.
Patni receives green vendor award
Patni Computer Systems, a global IT and BPO services provider, has been ranked as the number one 'Green innovative information technology vendor' by the prestigious '2009 Black Book top green outsourcing vendors survey', according to Manufacturing Business Technology.
Source : itweb.co.za
Finnair plans extensive outsourcing to make up for financial losses
“All of the punishments that were on offer have come, but even that does not seem to have been enough. Another crisis just came from the world”, lamented Jukka Heinonen, CEO of the Finnish airline Finnair, while assessing his company’s current situation.
The punishments that he was referring to were the two blows that had a serious effect on the viability of commercial aviation last year - the sharp rise in fuel prices and declining demand for services - especially by high-paying business travellers.
The latest crisis is the spread of swine flu, which is making passengers more reluctant to travel.
The bird flu threat six years ago had its greatest impact on travel to Asia, a region which is considerably more important for Finnair than Mexico, the origin of the current swine flu epidemic. Hence Heinonen says that it is difficult to assess the impact of the latest pandemic threat.
However, the impact will certainly not be positive.
Heinonen described the numbers of the early part of the year as “bad”, “frightening”, and “extremely ugly”.
Turnover declined by ten per cent to EUR 516 million, and the company’s most closely-watched indicator, the corrected business profit, collapsed from EUR 7.8 million last year to a negative EUR 47.5 million.
Finnair’s biggest problem is the decline in the number of passengers paying high prices for their tickets.
The number of passengers has not changed much, but travel in business class declined by 30 per cent from a year earlier.
In air freight, both volume and revenue declined.
Such developments would have called for massive cuts in costs, but Finnair was not able to achieve them.
Source: www.hs.fi
Despite the slump in the economy, Li & Fung President Bruce Rockowitz said he is optimistic that the current retail environment in the United States is close to a bottom, adding the company snapped up more orders from existing customers in the past six weeks.
The outsourcing deals in 2009 could be similar in size to the one the firm signed with fashion retailer Liz Claiborne Inc (LIZ.N), Rockowitz told Reuters in an interview on Tuesday.
"Some will be surprisingly big," he said, but declined to be more specific.
In 2009, Li & Fung could sign a similar number of outsourcing deals to the four signed last year, Rockowitz said. The 2008 deals included those with Sanrio (8136.T), Timberland and Mexx.
Source: Reuters
The UK's biggest insurance firm, Aviva, has continued to simplify its IT infrastructure and reduce the amount of network equipment it holds in house by outsourcing, says Comms-express.com
In its latest financial results, the company said consolidation of its IT services is continuing at pace.
With the aim of reducing costs and boosting efficiency, the firm said it is outsourcing a large portion of its business to reinsurer Swiss Re.
Document outsourcing surges
Outsourcing of strategic documents is becoming more popular as companies look to reduce expenses and costs during the economic downturn, reports BCS.
That is according to industry analyst firm Gartner, which said that any outsourcing of print and online documents should be done in a manner that does not compromise quality or confidentiality.
'Strategic document outsourcing offers organisations the opportunity to eliminate print and mail-related capital expenditures while potentially reducing material and postage expenses," observed Pete Basiliere, research director at Gartner.
Patni receives green vendor award
Patni Computer Systems, a global IT and BPO services provider, has been ranked as the number one 'Green innovative information technology vendor' by the prestigious '2009 Black Book top green outsourcing vendors survey', according to Manufacturing Business Technology.
Source : itweb.co.za
Finnair plans extensive outsourcing to make up for financial losses
“All of the punishments that were on offer have come, but even that does not seem to have been enough. Another crisis just came from the world”, lamented Jukka Heinonen, CEO of the Finnish airline Finnair, while assessing his company’s current situation.
The punishments that he was referring to were the two blows that had a serious effect on the viability of commercial aviation last year - the sharp rise in fuel prices and declining demand for services - especially by high-paying business travellers.
The latest crisis is the spread of swine flu, which is making passengers more reluctant to travel.
The bird flu threat six years ago had its greatest impact on travel to Asia, a region which is considerably more important for Finnair than Mexico, the origin of the current swine flu epidemic. Hence Heinonen says that it is difficult to assess the impact of the latest pandemic threat.
However, the impact will certainly not be positive.
Heinonen described the numbers of the early part of the year as “bad”, “frightening”, and “extremely ugly”.
Turnover declined by ten per cent to EUR 516 million, and the company’s most closely-watched indicator, the corrected business profit, collapsed from EUR 7.8 million last year to a negative EUR 47.5 million.
Finnair’s biggest problem is the decline in the number of passengers paying high prices for their tickets.
The number of passengers has not changed much, but travel in business class declined by 30 per cent from a year earlier.
In air freight, both volume and revenue declined.
Such developments would have called for massive cuts in costs, but Finnair was not able to achieve them.
Source: www.hs.fi
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