back office


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back office

a. the administrative and support staff of a financial institution or other business
b. (as modifier): back-office operations

back office

(1) Systems that do not deal directly with the customer, such as inventory management and accounts payable. Contrast with front office. See back office application.

(2) (BackOffice) An earlier suite of network server software products from Microsoft that was licensed as a bundle. It was discontinued in 2001, but some of the underlying products remained. BackOffice included Windows NT Server, SQL Server, Systems Management Server (SMS), SNA Server and Mail Server.
References in periodicals archive ?
Avisto's first acquisition, Eddye Dreyer Financial Services, based in Dallas, Texas, provides back office support and consulting to clients across the region, focusing on setup, optimisation and consulting for clients using WolfePak accounting software.
Robotic process automation releases back office agents from repetitive mundane tasks to concentrate on high value activities that cannot be robotised.
SimCorp's software covers virtually all investment management processes across the front, middle and back office.
In an earlier era, they would call or email the back office, or even leave the site altogether.
SimCorp Dimension will replace a number of in-house built applications in the front and middle office, across portfolio and order management, pre-trade and post-trade compliance and performance measurement, through to fund accounting and other back office functions.
This venture will also make applying 'artificial intelligence and machine learning applications' in the context of back office processing, possible," said Dr.
Pro Back Office has experienced 214% growth over the last 3 years, 2014 to 2016, and continues to expand due to their commitment to quality service and diverse business solutions.
It is common for large producer groups within these broker-dealers to have their own back-office administration so their advisors don't have to call the broker-dealer back office, thus avoiding inevitable poor service issues.
Technavio's analysts forecast the global back office system integration market to grow at a CAGR of 5.8% during the period 2016-2020.
Whether by mergers and acquisitions, the addition of new services or products, government regulation requirements or just the regular adoption of new technology solutions, many credit unions tend to utilize a number of disparate applications in their back offices. While these applications have been heavily customized to work together, they are often not optimized to the needs of the back office knowledge worker.
Reuters -- Stock markets in the United Arab Emirates should unify their back office operations and processes for settlement and regulation, the chief executive of the Abu Dhabi Securities Exchange (ADX) said on Sunday.
Misys has unveiled Misys Global Back Office at Sibos in Dubai; this global component is part of Misys Capital Markets Fusion and centralises and consolidates all operational processing across asset classes, trading systems and branches globally, streamlining back office operations for users and improving straight-through processing (STP) while reducing costs and operational risk.