We reviewed a national bank’s change environment to help unlock material cost savings
The Challenge
Following a strategic review, our client had identified the need to reduce the cost of change, and increase the efficiency of their Change function, across both the Business and IT.
Following extensive historical outsourcing, change functions and associated roles had evolved unplanned, resulting in a sub-optimal & inefficient model with significant tactical reliance on 3rd parties.
Wavestone was engaged to identify improvements, understand the scale of potential benefits, and to outline an improved delivery model that would put them in line with the market – without reducing change demand or losing internal headcount.
Our Approach
The 12 week engagement was split into 4 phases of delivery, starting with an assessment of the current change framework and cost base, done through interviews and a review of existing collateral and MI.
The analysis stage assessed their existing environment against Wavestone’s change framework, best practice, and industry benchmark data, to identify the biggest opportunities for efficiency gains and cost savings.
This was then validated with key stakeholders and SMEs, before finalising a set of core recommendations and an associated implementation roadmap.
The Outcome
In order to unlock the potential for material cost savings, 8 solutions were recommended which, combined, had the potential to deliver 30% savings via efficiency gains.
These also enabled the client to embrace more modern delivery approaches (e.g. Agile) and take a more strategic approach to offshoring and 3rd party engagement.
The roadmap set out delivery horizons for these solutions over a 2-year period together with the approach, activities and programme structure for our client to successfully transform their change environment.
