A Retirement Services company acquired several firms to become a top ten player in its market.
They were hindered by expensive legacy processing platforms and numerous Operations Departments.
A business plan was formulated to execute the migration of multiple platforms to 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:
- Offsite review of all relevant client documents prior to formal kickoff
- Initial and in-depth interviews with relevant department stakeholders and client SMEs
- Continuous feedback loops of on-site findings including readouts with client executives on a regular basis
- Develop and fine tune recommendations for directional deltas plus a blueprint with additional oversight
- Production of prioritized recommendations, shared with both Executive and Operational stakeholders
RESULTS & CLIENT BENEFITS
Our Team had lived through similar migrations and were aware of the pitfalls of the growing organization.
A critical scrutiny of the migration had unearthed significant issues in the plan and recommendations on how to remediate and stabilize the migration were delivered including:
- Call-outs explaining how to better measure progress and success against a redefined implementation plan
- A blueprint for the Organization Change Management challenges that were in flux due to an evolving Service Model
- A Communications Roadmap stating how to handle internal resources and external customers that minimized disruptions
- A Trusted Partner well equipped to help drive the migration to a positive outcome by providing prudent advice, senior level oversight and seasoned implementation resources