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HCL Launches Enterprise Function as a Service (EFaaS™) to Support Financial Services Firms in Creation of Utility Models

HCL Launches Enterprise Function as a Service (EFaaS™) to Support Financial Services Firms in Creation of Utility Models

HCL has launched a service called EFaaS™, Enterprise Function as a Service, to address reducing the operations costs of organizations through creation of specialized utilities. The service is initially targeted at capital markets firms, retail banks, and insurance companies and at the finance, procurement, HR, risk and compliance, legal and marketing functions.

The EFaaS™ service has arisen from HCL’s Next Gen BPO tenets, namely domain orientation, innovation and improvement focus, based on output/outcome/flexible constructs, utilizing HCL’s Integrated Global Delivery Model (IGDM), and addressing risk and compliance. In particular, the EFaaS™ service aims to deliver business function services as utilities by undertaking elements of business operations transformation, IT standardization (e.g. SAP/Oracle transformation, unified chart of accounts, reduced reporting platforms, data warehouses, etc.), platform transformation, and infrastructure consolidation and to achieve 25%-35% cost reduction within each utility.

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