BCM Challenges in Indian Banking Industry - DRI-India

Managing ContinuityOutsourced Functions• Outsourcing is contracting with another company or person to do aparticular function.• Almost every organization outsources in some way for multiple reasons• Normally, the function being outsourced is considered non-core to thebusiness• Managing continuity in outsourcing becomes more challenging especiallywhen functional activities are being done in a different country (called offshoring), since that involves language, cultural and time zone differences• Organisations & regulators are now looking more closely at social &political risks including financial stability at the off-shored location• Un-coordinated BC arrangement between “offshored” and parent “send”locations gives rise to false BC assurance© 2012, www.periculum.in Internal26