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Case Study 6:
Financial Services Business Transformation
The Client:
Leading Financial Services and Risk Management Company with Worldwide presence
The Challenge:
The original business technology architecture grew organically and highly fragmented across departmental lines. Business processes were inconsistent, inefficient and required constant heroic efforts to ensure accurate financial reporting.
The Solution:
The HBSC Consulting Team used its extensive Enterprise Architecture, Business Process Re-engineering and Domain Knowledge to quickly assess and transform the Clients business technology environment:
1. Assessed HR, Finance, Sales and Legal processes and systems
2. Interviewed stakeholder community including senior executives and frontline workers
3. Modeled core business processes to map primary, secondary and tertiary pain-points
4. Documented detailed business requirements for future state business architecture
5. Researched and reviewed best-of-breed software solutions from third-party-vendors
6. Rationalized requirements against multiple Vendor Software packages
7. Conducted Gap Analysis between client requirements and vendor product capabilities
8. Selected best-of-breed cloud-computing solutions and appropriate integration technology
9. Architected highly integrated business technology stack (HR, Finance, Legal and Sales)
10. Developed recommendations (process, organization, people and systems)
11. Established and gained Executive buy-in on detailed roadmap
12. Established Program Management Office to lead execution of the initiative
13. Directed resources to pilot new processes, systems and policies
14. Rolled out new processes, systems and policies across global enterprise
15. Conducted training for global workforce (London, Singapore) on new HR, Finance, Sales and Legal processes and systems
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The Benefits:
Working collaboratively with our Client, the HBSC Consulting Team was able to transform the existing ineffective business processes, technology and organization into a highly efficient and streamlined operation. Benefits included:
- Increased financial accuracy through improved transaction systems
- Highly integrated system architecture between Financial, HR and Legal that reduced
- Improved inter-departmental efficiency and reduced organizational conflict
- Introduced Enterprise IT Strategy discipline to Business and IT Organizations
- Established a technical blueprints that clearly defined a 3-5 implementation plan
- Provided process maps, organization charts, and architectural roadmap necessary to transform the business
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HBSC Strategic Services provides clients with the information, analysis, modeling, methodology, enterprise architecture and implementation plans to achieve a more efficient, effective, compliant and innovative organization. Through our Business Transformation Service offering, Clients are able to achieve the needed operational and strategic agility to improve new product development, acquire new customers, and grow the overall business both organically and through mergers and acquisitions.
The opportunity to leapfrog your competition through Business Transformation is now - A revolution towards operational efficiency, improved Sales, HR, Finance, Legal and Product Development. Organizations who successfully transform their business have the opportunity to achieve significant advantage and deliver on the requirements and goals of their external and internal stakeholders. If you are thinking about catapulting your organization forward, the HBSC Strategic Services can help. For more information please contact HBSC at 415-508-1541 or send an email to Client-Development@hbsconsult.com.
Case Study 1 - Case Study 2 - Case Study 3
Case Study 4 - Case Study 5 - Case Study 6
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