EDS releases IT cost reduction package for financial firms

EDS releases IT cost reduction package for financial firms

Outsourcing firm EDS is launching a package of services designed to help financial firms drive down the costs of running technology.

The vendor says some financial services firms currently spend as much as 90% of their IT budget on maintaining systems and turn to quick fixes when problems occur. The new service identifies areas of cost reduction and helps firms implement programmes that create savings.

The package is designed to identify cost savings in four areas - infrastructure, legacy application replacement and re-platforming, application development and enterprise integration and IT optimisation. Initial diagnostic tests will inform clients of the best approach to take to optimise IT efficiency, says EDS, with recommendations ranging from outsourcing to re-engineering internal processes.

Rob Baldock, global leader, EDS financial services industry, says: "By improving the efficiency of the existing IT infrastructure and reducing costs significantly, banks can increase their level of investment in revenue enhancing initiatives."

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