Banking
- Fortune 500 Bank - IT & Business Process Outsourcing
Our client is a Fortune 500 Bank located in more than 40 states across the United States. Trading on the New York Stock Exchange it provides financial services and advice including underwriting services to government organisations, mortgages and banking services. Alsbridge defined and implemented a multi-sourcing strategy to implement a new target operating model and radically reduce costs. About 4000 Full Time Equivalent’s (FTE’s) across IT, Finance & Accounting, Human Resources, procurement and industry-specific mortgage and banking processes were measured. The results were significant: the client achieved 30% cost savings on outsourced positions, improvements in both time and accuracy for multiple transaction types and expected savings of $40 million over 5 years for combined IT outsourcing and business processing outsourcing effort.
- Major German Investment Bank - IT Outsourcing Optimisation
Alsbridge set up and ran a programme management function which co-ordinated a range of cross-business IT outsourcing deals, and provided a base for managing the Bank's IT outsourcing portfolio. Our responsibilities included programme management, performance monitoring, contract review, and introduction of best practice for sourcing management.
- Major German Investment bank - "Making Offshoring Work" Training
Alsbridge developed and rolled out globally a 2 day workshop aimed at helping the Bank's retained management and captive offshore centres work effectively together. The course was run in multiple locations around the world, and was attended by senior and mid-level Finance management. It has been instrumental in improving the effectiveness of the offshore delivery model.
- Major UK Investment Bank - Captive Offshoring
Alsbridge developed the business case and implementation plan for establishing a captive offshore shared services solution for delivery of finance, IT and back office processing. The objective was to both support regional growth in the Asia-Pacific region and to help provide business continuity to the group's European operations through re-balancing the service delivery model, taking advantage of the global market for skilled labour.
- Major UK Retail Bank - Finance & Accounting Outsourcing
Alsbridge worked with this Bank to assess the detailed business case for outsourcing F&A to a leading global outsourcing service provider. The role involved providing strategic sourcing advice to senior Bank management, plus developing the business case, evaluating the detailed proposal, benchmarking the rates and overall costs, and providing general programme management and support.
- Major UK Retail Bank - Preferred Sourcing Advisor
Alsbridge has been appointed by this Bank as one of its "panel" consulting firms to provide support and advice to outsourcing and offshoring initiatives. In this role we have advised on a range of issues including outsourcing Vendor Management, Knowledge Process Outsourcing and offshore location assessment.
- Offshore Banking Group - IT Outsourcing and Core Banking System Replacement
Alsbridge teamed up with a specialist banking consultancy to support the Bank through a decision as to whether to replace the existing/planned core banking system with a new package-based system, and whether to outsource the delivery of current and new IT services. We assessed the current system and the development plans, assessed the current IT environment and management, and compared this to what was available in the market. We subsequently planned and managed an RFP process, and helped the Bank to negotiate a robust transformational outsourcing contract and assist with service transition managment.
- Offshore Banking Group - Outsourcing Supplier Management
Alsbridge assisted this Bank with the design, set-up and management of a professional outsourcing supplier management function. The aim of the function was to establish best practice management to ensure that the Bank met its responsibilities and obtained the required services from key suppliers. Alsbridge has also provided interim management to staff the function pending the recruitment fo a permanent team.
- UK Financial Services Group - HR and Payroll Transformation
Alsbridge assisted this client with the assessment of options for the transformation of HR service delivery, including payroll. We assessed the current state, analysed options, and developed a roadmap for implementation. We also assisted with the development of the communications and change management plan.
Insurance
- Global Insurance Group - Learning Management System Implementation
Alsbridge were brought in to assist in the launch of their Learning Management System, which has been successfully rolled out across the UK to approx. 37,000 employees. Our involvement extended to change management, project management, and key stakeholder engagement. We took direct leadership and management of the Communication and Training workstream, defined and documented the Target Operating Model (TOM) and prepared and coordinated User Acceptance Testing (UAT).
- Major Global Re-Insurer - IT Outsourcing/Offshoring
Alsbridge delivered a "Phase 1" feasibility and options analysis for global IT services delivery, and then worked with the IT organisation to plan and implement the strategy. This involved assessing the current state, developing and costing options, and running a "Sourcing Alignment Session" collaborative workshop with key stakeholders to assess the way forward. We then developed detailed implementation plans, including a comprehensive communications strategy.
- Major Global re-Insurer - Applications and Infrastructure Outsourcing
Advised on global applications outsource for a major insurer, saving over $182M (32% per year in Years 3-5) over 5 years. Due to the success of the project, we were invited to re-examine the client’s global infrastructure strategy and renegotiated a new infrastructure agreement.
- Insurance Group - ITO Re-negotiation
Renegotiated a full-scope IT outsourcing deal which had run into trouble mid-term, on behalf of a leading Insurer. Our support helped the parties to avoid litigation, re-establish a constructive relationship, and reduce costs by 20%.
- Global Financial Group - Transformation and Shared Services Advisory
Alsbridge were appointed as specialist finance transformation and shared services adviser to the client’s insurance business. Initially asked to document the finance function processes and provide recommendations for improvement, we were re-engaged to baseline current performance metrics, prioritise improvement initiatives and mobilise the transformation programme. Using a lean six sigma approach devised a robust programme plan to tackle manual, low value-add activities accounting for 40% of overall finance activity.
Investment Management
- Global Investment Manager - Near Shore IT Centre
Alsbridge advised on supplier-short listing, RFP development and contracting for the build-operate-transfer of a near-shore IT facility in Poland, which was designed to provide contingency and back-up for existing Indian captive IT operations.
- Leading Global Hedge Fund - Organisation Review
Alsbridge carried out a review of the IT organisation, recommending improvements. Alsbridge also identified efficiency and sourcing opportunities.
- Offshore Hedge Fund - IT Outsourcing
Alsbridge helped to rapidly outsource key systems to a Tier 1 provider which could provide a SAS-70 compliant environment. Alsbridge subsequently managed the transition and the ongoing supplier relationship.
- Global Spread Betting provider - Alsbridge completed a high-level review of Finance, Operations, New Accounts and Client Services to highlight potential opportunities for cost savings, efficiencies and service improvements. We identified performance improvement opportunities with potential savings of £9m and devised 3 strategies for implementation, based on a risk Vs reward appetite and drivers for change.
