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One workspace – complete control of your outsourcing lifecycle
The EY Outsourcing Management Workspace helps financial institutions comply with today’s regulatory expectations regarding outsourcing governance and risk management.
It provides a centralized inventory of outsourcing relationships, required documentation, and end-to-end workflows - ensuring that all phases of the outsourcing lifecycle are fully covered and aligned with European regulatory guidelines.
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Whatever your process, our platform can manage it
One platform to coordinate, track and evidence your outsourcing lifecycle
The Outsourcing Management Workspace combines EY’s regulatory expertise with a highly flexible technology platform to help institutions manage the full outsourcing lifecycle. It digitizes mandatory regulatory steps, simplifies documentation and provides real-time visibility - without the need to develop or maintain custom internal tools.
What value does it bring to you?
Built for day-to-day collaboration across teams, it centralizes outsourcing tasks, enforces mandatory workflows and maintains a single source of truth for all activities. The workspace simplifies monitoring, supports structured communication with vendors and enhances transparency for both internal stakeholders and regulators.
Key capabilities include:
- Risk & significance assessment - document and assess outsourcing relationships consistently across all lifecycle phases.
- Vendor communication - manage questionnaires, documents and tracked communication directly within the platform.
- Central documentation repository – store, version and retrieve all outsourcing documents in a structured, traceable manner.
- Automated reminders - receive in-tool or email notifications for deadlines, approvals and required actions.
- Action tracking - monitor open tasks, decisions and audit-relevant actions across all outsourcing relationships.
- Filtering & search - quickly locate outsourcing cases by significance, vendor, service type or other attributes.
- Dashboard overview – instantly view status, risks, deadlines and key metrics.
- Audit & evidence readiness - automatically maintain complete audit trails, decision histories and documentation snapshots to support internal audits and supervisory reviews.
And many more.
Platform for end-to-end Outsourcing Management
Optimize your outsourcing strategy, mitigate non-financial risks, and ensure compliance with regulatory guidelines on outsourcing governance and risk management with this EY solution.
- Operational overview
- Initial Identification
- Risk assessment
- Contracting
Access all essential outsourcing information - including scope, ownership, cloud characteristics, contract references and current status - in a single, consolidated dashboard. The real‑time view provides clear visibility into outsourcing arrangements, responsibilities and monitoring activities, helping users quickly identify required actions and track progress across the outsourcing lifecycle.
Our application supports a guided assessment of outsourcing criteria and criticality, capturing impacts on business continuity, compliance and critical functions. Financial implications are assessed through a structured cost‑benefit view, enabling transparent and well‑documented outsourcing decisions.
Evaluate risks based on impact and likelihood, track mitigation measures and document approvals to ensure informed, well-controlled outsourcing decisions. Compare service providers, capture internal feedback, ratings and risks and document the rationale for supplier selection in a transparent and auditable way.
Centralize contract documentation and capture provider feedback in a traceable way. See whole transaction history, final approvals and go-live status.
Other related solutions
The solution is part of a family of EY BPM-based workspaces designed for banks and financial institutions – including the Model Validation and Model Risk Management Workspaces. Each addresses a distinct area of governance, while operating on the same technological foundation.
This shared platform ensures compatibility, consistent design principles and the ability to connect processes across risk, validation and third-party management – all within a unified user experience.