Often, technology can block meeting key business objectives. It’s something we’ve all experienced. This was the case for a leading asset management enterprise. Its IT systems were dated, unable to drive automation or accelerate vital product innovation. We worked together with business leaders to offer a hybrid managed services model. This not only has led to cost reductions and improved service, but also provided greater operational efficiencies and scalability.
Lack of alignment between commercial and IT strategy
While the teams at the asset management enterprise had clearly defined commercial goals, they could not align their IT strategy to them. This was especially problematic, resulting in the purchase of new technology products and services to resolve isolated issues, as opposed to the technology enabling and accelerating its commercial objectives. Costs escalated with no value being delivered back to the business.
Increasing IT complexity
With a high volume of transactions, regulatory compliance requirements and multiple vendors to manage across the globe, the business required a clear technological roadmap with tight controls. This, however, was lacking and as a result, temporary solutions were implemented leading to an escalation in annual running costs and increased IT complexity. This convoluted environment led to a need for more resources to manage it, pushing operational costs up further.
Using our expertise in infrastructure management, we suggested a hybrid-managed services model. This consisted of shared services sitting alongside a dedicated team of infrastructure experts.
With cost reductions as a clear objective, specialists built shared services, ensuring they would manage the unexpected surges in transaction volume. Meanwhile, the infrastructure experts provided niche skills and tailored support. Their focus was on the management of the system and ensuring operational efficiency, in addition to having overall ownership and delivery of one-off projects. The services provided included:
- 100% offshore delivery with an onsite consultant to work directly with the client.
- 24/7 monitoring and management using Mindtree’s MWatch tool, an integrated IT infrastructure management and secured service delivery platform.
- Value added services, including those related to SOX compliance and audits, back-up resources during employee attrition, critical application performance and several other areas.
- Management of other IT vendors.
Through working collaboratively with the client, and fully understanding their business needs, the engagement was based on robust and well defined service level agreements with a combination of fixed and outcome-based pricing.
- IT strategy with a focus on business needs and enabling business objectives
- 44% reduction in device and server management costs
- 50% fewer Full Time Employee (FTE’s)
- Superior service and higher operational efficiency through continuous improvement
- Proactive resolution of engineering issues
- Simplified management as a result of one point of ownership for infrastructure vendors
- Improved risk management.
“Mindtree is a trusted and valuable service partner. They not only transformed our IT environment to support our business objectives, but their IT expertise and commitment to excellence is demonstrated daily as they continue to improve our operating efficiency.”
CIO, A global asset management enterprise
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