What's the
latest news in Asia?

Find out the current events and relevant news in the region that may impact your business decisions and on-going outsourcing partnerships.

Asia Entrepreneurship Forum 2020: Accelerating Growth Beyond Borders

Asia’s leading non-government organization for entrepreneurship, Enterprise Asia recently hosted the first virtual Asia Entrepreneurship Forum with the theme Accelerating Growth Beyond Borders. The event focuses on how economies can accelerate growth post-COVID-19 through three primary factors: Resilience, Reinvention, and Transformation. Among the attendees are over 500 c-suite level executives and business leaders from Cambodia, Hong Kong, India, Indonesia, Malaysia, Pakistan, The Philippines, Singapore, Taiwan, Thailand, and other parts of the region. The event enabled global reach, flexibility, and interactivity for the delegates. 

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Research shows third-party risk management programs need to move beyond questionnaire-based assessments

A new research by Mastercard Company RiskRecon and the Cyentia Institute explored the current state of third-party risk management (TPRM) programs and practices. Findings showed that TPRM professionals no longer see security questionnaires to provide sufficient information to understand and act on business’ third-party risk. The results of the survey of 154 TPRM professionals included findings such as that 79% of firms have a TPRM program with 84% of which use questionnaires for assessing vendor security risk. 81% of businesses report that at least 75% of their vendors claim perfect security compliance. However, only 14% say that they are highly confident that vendors actually perform the security requirements.

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A New Study: Payroll Outsourcing Market Is Thriving Worldwide

A study published on Global Payroll Outsourcing Market offers insights into the share & size of the following Payroll Outsourcing segments: payroll service, hosted payroll, and cloud payroll. The study also presents examples of various market developments and business strategies that industry players to address current challenges in economic slowdown and the demand-supply gap.

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Pandemic accelerates need to consider outsourcing in asset management world

Northern Trust Global Head of Integrated Trading Solutions Gary Paulin shared how the current financial environment brought by the pandemic increases outsourcing activity in the asset management industry. Cutting cost is often the first reason asset owners choose to outsource front office services. Moreover, the current global situation has brought more reasons to consider outsourcing. Northern Trust’s recent white paper showed that firms opt to remove costs and the complexity of implementing in-house solutions. These businesses turn to outsourcing to free up capital and invest in more strategic growth.

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Wipro will adopt new operating model in 2021

Wipro is looking to grow its business in non-US markets. Starting 2021 it will adopt a new operating model. There will be a restructuring in the business into four strategic market units (SMUs) and a simplification of its delivery model. The 4 SMUs identified are America 1, Americas 2, Europe, and Asia Pacific, Middle East, Africa (APMEA). There will also be two Global Business Lines (GBLs) which are iDEAS (Integrated Digital, Engineering, and Application Services) and iCORE (Integrated Cloud Infrastructure (CIS), Digital Operations (DOP), and Risk & Enterprise Cyber Security Services (CRS). New Wipro CEO Thierry Delaporte is optimistic that this operating model with few layers and the simpler and more customer-focused delivery model will help Wipro in achieving their desired outcomes.
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