Industrialisation of the back-office function

Abstract

Do more, safely and in less time. These few words sum up the challenge of industrialising back-office functions. Not so very long ago, in the last century, back-office functions involved paper processing and physical securities delivered via trucks. Today they comprise a virtual but very real world of electronic flows and processing of securities. Huge efforts in automation have been made, more or less continuously since the 1970s, supported by the implementation of standards, to achieve the industrialisation of the back office which has occurred in response to increased volumes in the general move towards globalisation and the reduction in time taken to process securities. These efforts, which are likely to continue, have led to restructuring and increased staff specialisation, which in turn offers real challenges to many organisations — both in terms of training and in keeping on board highly qualified specialists able to adapt themselves to a constantly changing environment and offer their clients tailor-made solutions in an industrialised environment.