Background
Our client is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management and private equity.
Our client's Global Sourcing Air Traffic Control Unit (ATC) was created in 2003 to act as the unifying body for global sourcing across all business units. The ATC was organized to track and report on all cross border process migrations, including in-country migrations with regulatory impact. The unit is comprised of representatives from legal, compliance, OTS (office of thrift supervision), real estate, strategic sourcing and tax.
Business Challenge
To improve control and maximize savings opportunities, our client had been sourcing to lower cost centers in Ireland, Philippines and India. To date they had successfully managed 1 captive center and numerous relationships with global suppliers. Yet, across the enterprise, they lacked standardization of sourcing practices, policies, standards and procedures.
Our client was large and fragmented and consisted of multiple divisions and stakeholders each with distinct objectives, cultures and levels of profitability. The governance model that was to be developed needed to consider and seamlessly integrate 6 very different work streams. The client's aggressive timeline for migration of a large number of resources added to the complexity of the engagement.
They formed the Air Traffic Control Unit (ATC) as the cross-functional team that would bring unity to the company's global sourcing strategy. Our client also asked Neo Advisory to help the ATC redefine its transition and governance strategy to support existing business lines and to deliver quantifiable bottom-line results.
Solution
Neo Advisory advisors began the work with the client by conducting an analysis of the current offshore governance structure in order to develop an IT governance Model for a firm wide global sourcing program. Key elements of Neo Advisory's strategy for the client included:
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