Spoken Language: English
Business: Business Services, Outsourcing
Xchanging PLC is an outsourcing company based in London, UK for business processes, with a wide range of multinational customers in 42 countries. Expertise include business process outsourcing, it outsourcing, and procurement outsourcing.
Xchanging offer a range of "partnering" and outsourcing contract arrangements. In "partnering", Xchanging share any profit and capital benefits from productivity improvements, scale advantages and entrepreneurship with the customer.
These benefits are split 50:50 so that the interests of Xchanging and the customer are aligned. In outsourcing, Xchanging will typically take over a customer's business process, or back office function, and incorporate them into an existing platform in an attempt to provide better and cheaper handling of administrative tasks.
Xchanging operates on an Enterprise Partnership model forming joint ventures with large organisations in processing areas such as HR, accounting and procurement, as well as industry specific processing such as securities processing and insurance claims processing. Although the list of back-office processes which could be transformed is non-exhaustive.
Xchanging provides procurement, finance and accounting, human resources, technology and customer administration services across industries.
- Procurement: Managing direct & indirect spend and sourcing strategies
- Finance and accounting: Processing of receipts and payments, net settlement and clearance
- Human resources: Providing employment services from recruitment through to payroll and pensions payment, back-to-work and medical compensation schemes
- Technology: Design, build and run IT infrastructure and software
- Customer administration: B2B and B2C services to support customer’s customer
Xchanging provides industry specific processing for:
- Banking and securities: Processing securities transactions and retail investment accounting
- Insurance: Processing of insurance policies, premiums & claims, and broker annuity
- Other financial services: IT systems & hosting for exchanges, processing services for fund managers, investors, as well as SWIFT managed infrastructure services to banks
Xchanging provides business process outsourcing, procurement management, information technology outsourcing and HR managed solutions. As a service provider, with the majority of people being office-based, Xchanging recognise its responsibility to do business in a sustainable way. So Xchanging measure, understand and attempt to reduce itscarbon footprint whenever possible.