CEB TowerGroup Technology Assessment Ranked Providers on Breadth and Scope of Services
LAKE SUCCESS, N.Y., October 24, 2012 – Broadridge Financial Solutions (NYSE:BR), a leading provider of business process outsourcing (BPO) and technology services for the global financial services industry, today announced that it has been recognized as having a “Best-in-Class” Service Offering in theCEB TowerGroup 2012 Outsourcing Vendor Rankings assessment.
Broadridge’s dedication to clients across the financial services space and the firm’s ongoing commitment to innovation through its focused financial-specific industry offerings were found to deliver strong business insight and value. The attributes and analysis for Broadridge included the following:
“Financial services companies are adapting to the changed competitive environment and are turning to Broadridge to transform their technology and operations to enable growth and improve margins,” says Joseph Barra, President, International Securities Processing and Global Outsourcing, Broadridge. “We are excited for Broadridge to be included among CEB TowerGroup’s ‘best-in-class’ service providers, and believe this assessment illustrates recognition of the value we are adding for clients.”
One of the significant findings revealed in the assessment is the growth rate in outsourcing. The CEB TowerGroup report estimates that outsourcing will account for 23% of the financial industry’s total IT spend by 2015, up 5% from 2011. Total spend on outsourcing will grow at an 11% CAGR through 2015, with BPO, Cloud and Managed Services taking up an increasing share of the total. The report also cites knowledge management and innovation to be the next key service offerings for progressive outsourcers.
CEB TowerGroup’s selection process centered around those vendors with mature products, globally recognized innovation and major financial services institutions with multiple large-scale installations. By combining its qualitative and quantitative data from interviews with industry experts, financial institutions and vendors, CEB TowerGroup identified 24 attributes that define a “best-in-class” outsourcer. The Service Offering assessment was based on an analysis of those attributes that determine the breadth and scope of services a vendor is able to offer within their chosen lines of business and markets.
Broadridge Financial Solutions, Inc. (NYSE:BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 14 countries.
For more information about Broadridge, please visit www.broadridge.com.