A Retirement Services company acquired several firms to become a top ten player in its market.
Our client was hindered by expensive legacy processing platforms and numerous Operations Departments.
A business plan was formulated to execute the migration of multiple platforms into two central processing units.
Our client had never executed a strategy of this size and scope (historically, they were a mid-market provider).
Their plan had technical and business challenges while a positive outcome already in jeopardy before the initial plan migration wave was completed.
Both operational and technical resources were being stressed because of:
- Less than optimal rigor in developing project milestones and project success criteria
- Lack of in-depth knowledge and detailed requirements of the processing platforms
- Specialized operating models to service the largest customers
Further complexities arose as the client desired to drive a higher profit margin while bringing on new and more profitable customers.
Enterprise Iron was brought on to perform our Program Management Healthcheck and recommend modifications for a more achievable and measurable plan.
Enterprise Iron deployed a team of highly-seasoned operational, technical and financial SMEs.
We began exploring each of the relevant departments to measure the progress of the migration and determine where improvements were needed.
Several operational and technical departmental functions were judged to be vital to client success and those received ‘deep dives’ to root out areas of concern.
We deployed our highly-customized Strategy Methodology to help drive the client to develop a better business plan.
This was comprised of the following steps:
RESULTS & CLIENT BENEFITS
Our Team had experienced similar migrations with other client work and were aware of the pitfalls of the growing organization.
Critical scrutiny of the migration had unearthed significant issues in the plan.
We delivered recommendations on how to remediate and stabilize the migration including: