Investment Oversight: Overseeing Financial Portfolios and Resources
Taking Tech by Storm: Schroders Outsources IT Teams to UST in Groundbreaking Move
Welcome to the future, folks! Schroders, a UK-based giant in the asset management world, has shaken things up by outsourcing its global technology teams to UST - a leading global digital transformation solutions provider. Let's dive into the nitty-gritty details of this historical deal!
This is Huge! Schroders and UST Collaborate to Cut Costs and Improve Efficiency
First things first, let's talk about the head honcho, Richard Oldfield, Schroders' new CEO, who's championing this cost-cutting initiative.[1][2][3] Now, onto the fineprint:
- Tech Services Under the Spotlight: Under this deal, Schroders is handing over various in-house global technology services, primarily within its IT infrastructure and support division. Services such as networks, service desk, desktop user support, and server infrastructure are all set to get a new home.[1][2][3]
- Infosec & Cybersecurity Stay Put: Good news for those who worry about tech security - Schroders is keeping a tight lid on Infosec and cybersecurity services, ensuring they stay secure as ever.[1][3]
Why the Big Shift?
The outsourcing is all about boosting operational efficiency, speed, and agility within Schroders. It's part of a broader digital transformation strategy focused on ensuring top-notch client outcomes and addressing evolving client needs.[1][3] The move also taps into the current trend in the tech services game, where cost-efficiency and vendor consolidation are the names of the game.[5]
Schroders and UST, a Long-Time Duo
For over a decade, UST has been Schroders' trusty sidekick, providing services ranging from digital transformation and cloud transformation to data analytics.[1][3] This partnership showcases Schroders' inherent knack for innovation and its readiness to leverage external expertise for operational improvements.[1][3]
Impact Across the Asset Management Sector
Schroders' move to outsource technology services is a testament to the growing trend in the asset management sector where companies are looking to external partners to enhance efficiency and reduce costs.[5] The technology outsourcing industry is seeing a shift towards cost-cutting and vendor consolidation, with numerous firms aiming to optimize their tech spending.[5]
There you have it! Schroders has taken a major step towards the future by outsourcing its technology teams to UST. Asset management saw never-before-seen action this week, and it's pretty safe to say that there's more to come as companies continue to embrace technological advancements to drive efficiency. Keep an eye on Schroders, folks - we're expecting great things to come!
[1] Cost-Cutting Initiative Under New Schroders CEO Richard Oldfield[2] Schroders and UST's Long-Time Collaboration[3] Schroders' Digital Transformation Strategy[4] Industry Trends in Technology Services[5] The Future of Asset Management: Embracing Technology
This collaboration between Schroders and UST showcases a significant shift in the business and finance sectors, as they work together to cut costs and improve efficiency. By outsourcing its global technology teams, Schroders taps into the latest technology trends and demonstrates a readiness to leverage external expertise to drive operational improvements.
In the asset management world, Schroders' move is just one example of the growing trend toward cost-cutting and vendor consolidation in the technology outsourcing industry. As companies across the sector continue to embrace technological advancements, we can expect to see more innovative partnerships shaping the future of business and finance.
