6 min read

Increase efficiency and profitability with Financial Services Outsourcing

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Working in the financial services sector is complex and fast paced. It doesn’t matter whether you’re a mortgage broker, accountant, financial planner or CFO of a multinational company – there are so many areas you have to be across to ensure your business is successful. Regulations are ever-evolving, competition is constantly rising, and clients expect better service and more favourable outcomes than ever before.

So how can you stay on top of everything you need to and ensure your client’s needs are met? That’s where Financial Services Outsourcing comes in. By outsourcing many of your day-to-day tasks to a financial services outsourcing partner like Sundaram Business Services, you can unlock a range of benefits that ultimately make your business more efficient, effective and profitable.

5 key benefits of Financial Services Outsourcing

Opting for Financial Services Outsourcing Solutions instead of hiring in-house or doing all the work yourself has a range of benefits. The key advantages are:

1. Reduce costs

Financial Services Outsourcing can significantly lower your operational costs. You won't have to worry about in-house infrastructure, recruitment, or training expenses. Additionally, if you are outsourcing overseas, you could reduce your labour costs by 25-50%, allowing you to allocate your resources more strategically.

2.   Increase efficiency

Outsourcing your financial processes to specialised providers can help you streamline your operations. This means fewer bottlenecks and redundancies in your workflow. As a result, you'll experience faster processing times that benefit both you and your clients.

3.   Free up time and resources

By outsourcing routine tasks and administrative responsibilities, you can free up your valuable time and resources to allocate elsewhere. Your internal teams can then refocus on high-value, strategic activities, fostering growth and innovation.

4.   Mitigate risks

When you work with outsourcing partners, you benefit from their robust risk management systems and processes. This can minimise your exposure to financial and operational risks while ensuring that you remain compliant with industry standards.

5.   Scale at speed

It’s estimated that as many as 80% of businesses in the banking, financial services and insurance sectors use Business Process Outsourcing (BPO) to expand globally. Rather than taking months or even years to build a reliable team of experts, outsourcing gives you instant access to industry experts with a wealth of knowledge.

What kinds of businesses and professions need Financial Services Outsourcing?

At Sundaram Business Services, our expert team is engaged by a wide range of professionals in the financial services industry across four key areas.

  1. Finance And Accounting

Sundaram’s team provides outsourced CFO Support Solutions for both small and large businesses. This enables CFOs to focus on improving business performance and shareholder value, while increasing operational effectiveness and efficiency.

We also offer Business Advisory Solutions for accountants, including two of the top ten firms in Australia. This allows accountants to spend more face-to-face time with their existing clients and take on new ones, without sacrificing the quality or speed of their work.

  1. Self-Managed Super Funds

Sundaram offers Administration And Audit Services for administrators, accounting firms and financial planners. Our team of 70+ professionals handles around 5,000 super funds each year, taking care of everything from setting up the audit to ensuring compliance with regulations in Australia.

Our bespoke, flexible offering solutions ensure our clients can access the exact support they need, in the areas they need it. This gives them more time to spend with their clients, as well as focusing on business growth.

  1. Portfolio Management

Sundaram provides wealth fund managers with both Platform Support Services and Fund Administration Support Services. Our experienced workforce comprises 400+ support staff, all with a wealth of knowledge in portfolio management and the financial services industry.

Our experts can assist with a wide range of tasks – from client onboarding to year-end tax support. We also offer assistance with the seamless transition of portfolio rebuilds. With our team on hand, portfolio advisors and fund managers have greater control over their own time, while also accessing the data and analysis they need to make more informed decisions on trades.

  1. Mortgage Support

Sundaram provides crucial Mortgage Support Services for mortgage brokers, aggregators and lenders. We’ve improved efficiency, lowered costs, reduced application turnaround times and ensured accurate reporting for some of Australia’s leading mortgage and financial services companies.

Our expert team can handle many day-to-day operations necessary for mortgage brokers, including loan processing, daily lender updates, commissions management and management reporting.

Examples of Financial Services Outsourcing

Sundaram Business Services has provided outsourcing solutions for thousands of businesses in the financial services industry. Here are some examples of our success stories:

Streamlined operations for a global hospitality group

A 5-star hospitality provider approached our team to outsource a number of their accounting processes. To ensure we completed the work to the highest possible standard, we conducted a process study at another property owned by the same group. Using this knowledge, we were able to:

  • Introduce time tracking to measure utilisation, quality, and efficiency
  • Implement cross-training to optimise resources and manage workload fluctuations in financial processes
  • Transition seamlessly to more efficient software programs
  • Implement standard operating procedures including failure modes and effect analysis.

Ultimately, we were able to reduce turnaround times by 50% and ensure books closed two days after month-end, down from five days

Increased output for a top-tier accounting firm

A top-tier accounting and secretarial firm came to us after experiencing a slowdown in output. The problem? Their accountants were getting sidetracked by repetitive tasks such as verifying compliance documents and certifications, leading to missed deadlines.

Our team focused on the following areas:

  • Halving the number of touchpoints in strategic processes, from 20 to 10
  • Taking over knowledge-based, judgement-based and rule-based tasks so the business could focus on more valuable work
  • Removing mundane tasks that added no value to resolve inefficiencies

Thanks to our changes, the accounting firm’s increased efficiency enabled them to take on more clients, resulting in a 44% increase in their customer base.

Reduced costs for a top mortgage and financial services firm

One of Australia's top mortgage and financial services firms hired Sundaram Business Services to lower operating costs, enhance process efficiency, and reduce turnaround times for pre-credit, processing, discharge and variations.

Our team conducted an on-site study to identify areas where process improvements could be made. We assisted the client to:

  • Implement process controls such as streamlined communications
  • Monitor changes in compliance regulations and provide up-to-date checklists to ensure easy adherence
  • Customise workflows to facilitate timely reporting and reduce repetitive tasks.

Not only was our team able to lower costs, but we also managed to bring down the turnaround time from three days to just a few hours.

If you’d like to read more examples of Financial Services Outsourcing, you can check out our case studies.


Sundaram Business Services is a business process outsourcing company with offices in Australia, India and the UK. With over 20 years’ experience in the Australian market in providing outsourced teams to Australian businesses across Accountancy, Portfolio Management, Self-Managed Super Funds, and Mortgage Broker Support, our business becomes an extension of yours.

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