Re-imagining then optimizing in-scope services through outsourcing, technology & automation as part of an agile, dynamic co-design process with leading service providers
This leading North American investment management firm had a history of perceived underperformance in its back and middle office (overly bureaucratic, low employee satisfaction, expensive to run). ISG was engaged after the client had already had initial conversations with service providers.
The client’s vision & objective was to transform the client’s services departments to: (1) improve service quality, (2) optimize the environment, (3) improve employee experience, and (4) spend money wisely.
The scope of the project was four main functional areas – HR, Finance & Accounting (including Procurement), Real Estate/Facilities & Technology.
Imagining IT Differently
- ISG’s proposition was developed to balance a sophisticated solution design for the in-scope business processes, with the need for fast returns
- Our solution therefore involved an initial rapid assessment of the current state environment, in comparison with emerging thinking ‘best practice’. This meant bringing tools and accelerators to facilitate the client and supplier co-designing a solution which will evolve over time from a relatively traditional outsourcing model to become a horizontalized suite of aggregated services based on user experience, with contact initiated via a “Front Door” and “White Glove Concierge” service, complemented by automation
Future Made Possible
- By reviewing the process landscape and running a collaborative “co-design” selection process to find the right supplier, ISG has enabled;
- Hybrid new operating model, including elements of automation, outsourcing and process re-design
- Performance model based on business outcomes
- Transparent and milestone-based transformation plan over a 7-year period to drive phased improvements in performance
- Significant cost savings in each of the 7 years
- By reimagining what services could look like, ISG helped design a ground-breaking performance measurement framework based on evolving ‘stages of excellence’
- The client is now in a position to meet the emerging needs of the in-scope service areas, by leveraging an expert partner and the latest technology