Industry Regulations and Certifications Viable on Outsourcing

On October 27, 2011, in Outsourcing, by Business Development Group

When outsourcing, specific industry regulations and certifications are required as part of company operation. These regulations and certifications also apply to the service provider when working on outsourced processes. When outsourcing, specific industry regulations and certifications are required as part of company operation. These regulations and certifications also apply to the service provider when working on outsourced processes.

For example, U.S. financial institutions are required to comply to National Association of Securities Dealers, Inc. (NASD) and one of the dimensions is the requirement of obtaining certifications for employing certain practices (such as advising public on investment matters). In the insurance industry, U.S. state governments requires licensing of business (and) people who provide “third party administration” (such as adjucation of a claim).

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In addition to these certifications, many outsourcing providers seek additional certifications to demonstrate their capabilities and maturity in managing processes. Aside from the various quality related certifications and designations/disciplines that service providers adopt to show their commitment to improving process quality, there are certifications do not have any legal standing except businesses may require their providers to obtain them as a way to reduce their risk in outsourcing. Hereunder are some of the more commonly known certifications:

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Capability Maturity Model

Deals with establishing levels of capability and maturity in Information Systems processes.

 

Information Technology Infrastructure Library or Information Systems Infrastructure

Certification for managing the information technology systems and its capabilities.

 

Various ISO standards

Dealing with security (ISO) 17799 or quality (9000.1) also provide for a framework for certification. For example, the ISO standard for computer security has been adopted by the British Standards Board (and classified as BS1779) and offer certification through independent assessors.

Related article: Outsourcing Trend: Customer Satisfaction to Customer Loyalty

 

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