NAB extends Finance outsourcing - 23 August 2006
Wednesday, 23 August 2006
National Australia Bank today confirmed plans to extend its Finance and Accounting outsourcing arrangements with Accenture by outsourcing 81 back office Finance processing roles to Accenture's Delivery Centre in Bangalore, India, by April 2007. It is expected that many of the impacted employees will be redeployed to other roles within the bank.
The roles to be outsourced essentially involve validating and converting data into reports, data entry, and procurement administration.
The plans do not involve customer-contact roles and all customer data will remain stored in Australia.
Ewen Stafford, Chief Financial Officer Australia, said: "We established a pilot program involving 24 Accounts Payable roles with Accenture 10 months ago which has seen an increase in productivity, reduction in error rates and some great process improvements."
"It has also allowed us to free up capacity in the onshore team to work on more value added analysis and provide new service offerings to the business," he said.
"With any outsourcing initiative, our aim is to re-skill and redeploy our people to other roles within the business. We have consulted openly with our people about our plans and will work with them to find new opportunities."
"These programs are in line with NAB's strategy of improving competitiveness, streamlining administrative functions and focusing efforts on being a more customer focused organisation."
For furthe mediar information, please contact:
Geoff Lynch
Head of Media Relations Australia
National Australia Bank Limited
T (03) 8634 1564
M 0405 319 819
Amanda Murray-Johnson
Corporate Affairs Manager
National Australia Bank Limited
T (03) 8634 0662
M 0413 142 216
* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges
