ABN AMRO signs contracts with IT vendors

ABN AMRO
ABN AMRO announced on 16 December 2004 that it would accelerate its Group Shared Services (GSS) programme, with the objective to create value across the Group through increased client satisfaction, higher operational efficiency, optimising operational risk and increased flexibility. After a careful analysis of the options, ABN AMRO has chosen an IT service solution that encompasses in-house consolidation, partial outsourcing, multi-vendor strategies and offshoring. Further streamlining of the bank's global IT organisation will lead to an improved performance of all IT services and to significant efficiencies. Following the announcement on 16 December last year, ABN AMRO announces today that it has signed global services agreements with five IT-vendors for five years, for a total value of approximately EUR 1.8 billion. The selected vendors are:
IT Infrastructure: IBM
Application Support and Enhancements: Infosys, Tata Consultancy Services (TCS)
Application Development: five preferred suppliers Accenture, IBM, Infosys, Patni, TCS The initiative leads to a new technology organisation of approximately 1,800 full-time equivalents (FTEs), compared to a total of approximately 5,000 FTEs currently working in IT within the bank worldwide. Approximately 2,000 FTEs will be transferred to the selected IT vendors, of which a majority will go to IBM. In line with the former communications, the total estimated IT staff reduction for ABN AMRO will be 1,500 FTEs over the next 18 months. more...