Day: March 8, 2020

“Broken” Company’s Own Finance IT Overhaul Delayed

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But firm wins a “major reduction in client penalty payments”

Outsourcing giant Capita’s 2019 was a bloodbath, earnings reported this week showed, with the company slumping to a £62.6 million loss, from 2018 profits of £272 million.

The company saw £78 million-worth of contracts terminated or re-negotiated in 2019, as it struggled to rebuild a desperately damaged reputation for poor performance.

The company cited a “major reduction in client penalty payments” as a bright spot.

Amid amid an aggressive, sweeping restructuring, including sustained investment in its own internal processes, IT and teams, it hopes to turn the

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