Enabling Transformational Change
|
|
- Sophie Griffin
- 8 years ago
- Views:
Transcription
1 Scott Morgano FIS Consulting Services
2 Industry drivers behind transformational change Financial institutions trying to improve their financial performance significantly often find themselves pulled in conflicting directions. They must increase lending in order to grow revenue, but at the same time must not let credit quality dip. Replacing fee income becomes critical as overdraft revenue has fallen due to changes in Reg E. But financial institutions must be mindful not to run afoul of the new Consumer Financial Protection Bureau s guidance whatever it may be. Try and grow by acquisition? A good strategy if you can get the right franchise at the right price, while not becoming a target yourself. And you can always cut costs again, right? The overall industry return on assets indicates performance is still not back to 2006 levels, with banks both above and below $1 billion in assets. 1.50% 1.25% 1.00% 0.75% Under $1B Over $1B 0.50% 0.25% 0.00% -0.25% Return on Assets Rebound, but still not at pre-recession levels Given these challenges it s surprising more bankers have not opted for a less regulated, less competitive field than banking maybe the automotive industry? Looking a bit deeper into current research, a picture can be painted of the challenges bank executives face. Focus on loan growth In interviews FIS conducted with C-level executives at mid-tier financial institutions, we found organizations were looking to grow revenues more than cut costs in order to improve financial performance. The top growth strategy by far is to increase lending revenue. The following graphics highlight those findings. 1
3 Focus of Financial Institution Strategies in the Next 12 Months 40% 28% 16% 12% 4% Revenue growth 2 Lean toward revenue 3 About equal 4 Lean toward expenses 5 Expense management Based on the importance of growing revenues, executives were then asked to rank the tactics they planned to pursue to grow their top-line revenue in Not surprisingly, the leading tactic was to grow interest income, with executives giving this a 5.30 out of a possible 6. The tactics were numerically ranked on a scale from 1 6 with 6 indicating the greatest area of focus. Pursuing an increase in insurance business had the least area of focus. Average Ranking Six Potential Revenue Growth Strategies Insurance Brokerage Wealth Management Deposit Charges Non-interest Income Interest Income
4 Replacing fee income Beyond interest income, the second leading source of banking revenue is non-interest income. That revenue source has its own unique challenges. Checking Account Income Components 4% 5% 28% 48% Historical view, derived from FRB Transaction Deposits, Commercial Banks Analysis FIS research indicates that most banks are losing 15% 30% of overdraft income with potential additional overdraft regulation and litigation looming. Additionally, the Durbin Amendment will erode non-interest income further even at banks with assets below $10 billion. Grow by acquisition 15% Except Fees (Mainly OD) Net Interest Margin Maintenance Fees Interchange Transaction Fees Consolidation remains a prominent driver in the banking industry. The FDIC closures seem to have peaked within the last two years, but traditional M&A and consolidation remain rampant in the banking sector as evidenced in the following graphic. Number of bank mergers and acquisitions, , Source: Thomson Reuters and SNL 3
5 Improve efficiency As mentioned previously, institutions not focused on revenue growth must continue to cut costs. This has proven to be a daunting challenge, as overall efficiency metrics continue to rise for the industry as a whole. 61.0% 60.0% 59.0% 58.0% 57.0% 56.0% 55.0% 54.0% 53.0% Efficiency Ratio Source: FDIC 9/30/ % 58.4% 57.8% 58.0% 57.3% 56.2% 56.6% 56.8% *Annualized Q3 data 59.5% 59.4% 55.6% 57.2% 60.6% * How to respond? Given this challenging environment, most financial institutions are responding in some form or fashion to both the competitive and regulatory challenges they face. The problem is many respond with half-hearted measures that often produce mediocre financial results. Many examples exist of organizations trying to side-step their way to high performance. The tactics selected are not fully coordinated, management is not vested in the success of the initiative and results lag expectations. Financial institutions that fully engage in transformational change realize meaningful results. This transformational change usually encompasses a significant upgrade in technology (converting to a new core processing platform), a radical reengineering of their business processes (going entirely paperless) or a major strategic shift (changing to a sales culture as opposed to an operational one). Many times transformational change initiatives encompass all three of these elements. To ensure success, executives embarking on transformational changes need to devote significant attention and resources to a change management methodology and developing communication plans within that methodology. Key elements of transformational change Change management Planning for and managing transformational change requires a disciplined approach to ensure the stage is set up-front and the return is achieved at conclusion of the initiative. The initiation, planning, execution, monitoring and control processes each create specific value. Given the operational focus most managers maintain, managers often forget how difficult 4
6 change can be. It is much more than just coming up with an idea one day and then doing something different the next day. A significant transformation project touches on virtually every process and procedure within a financial institution. One of the laws of organization change is that People don t resist change, they resist being changed. 1 The best way to bring people on board is to have them participate in the change process. There are variations of how this could be done, depending on the culture of an organization. The executive team should be taken through planning exercises to gain common understanding and buy-in for the scope and objectives for the transformation. Each potential stakeholder should be evaluated to develop an understanding of the specific roles and responsibilities required from their organizations, including identification of the roles for key personnel. An experienced facilitator, combined with subject matter experts, should lead the executives through these discussions to help determine the level of their team s involvement, the visibility of their personal support for the effort and the time required of them and their staff. Typically the executive preparation sessions are designed to gain agreement on the following: Scope Measurable objectives Constraints Guiding principles Roles and responsibilities Initial identification of risks Communication strategy How/who is authorized to make what types of decisions? Executive roles in sponsorship Control and monitoring process Human resource strategy An outside advisor can lead a discussion and facilitate resolutions on issues relative to the above topics. Based on their experience, they can share what issues are most likely to surface and the impact timely involvement can have on their resolution. They can also recommend the most qualified champions for various and specific change activities. As importantly, they can help define the time requirements of executives, assuring the executives are as effective as possible in participating and leading the change. The smoothest transformations occur when the right stakeholders are involved at the right time, doing the right thing. The changes the organization is going through are not just a system change. They impact how everyone works and cooperates. Change management is essential. Communications plan In almost every study, communication-related issues are the most frequent problems a project team experiences. The change manager or project manager spends almost 90 percent of their time communicating. For a significant change, a formal Communications Management Plan should be developed that goes beyond status reports. The Communications Management Plan includes the following processes: 1 The Team Handbook, Oriel Incorporated, Chapter 1 7 5
7 Identify stakeholders Plan communications Distribute information Manage stakeholder expectations Report performance An effective Communication Management Plan will lead to effective control of stakeholder expectations. The transformation may impact nearly all staff, so developing an effective communication strategy becomes very important. Initially there will be many unknowns regarding the change and its potential impact. Some of this may be taken very personally. Therefore, it is important to have a human resource management plan to communicate what will and will not be in scope relative to the management process for changes in roles and responsibilities. It is important to communicate the effort required and by whom. It is important to communicate the objectives. It is important to anticipate what impact the change will have on various areas. Hard-earned experience shows that a series of carefully designed communications, specifically used to address the needs of each audience, has a significant positive impact on the outcome of the transformational change effort. It is critical to assign a communications manager for a transformational effort to analyze the communication needs of the stakeholder audiences and manage the entire Communication Management Plan from start to finish. An outside partner can provide examples of such communications and customize them to the situation the institution faces. If the organization has internal resources to handle internal communications, a partner can take a less active role in explaining objectives and keeping the staff adequately informed. The partner can anticipate the issues that most likely need to be addressed and, through experience, can provide the organization a number of approaches to assist. For instance, one of the first issues that always seems to arise is the potential displacement of employees. Noted author William Bridges focuses on the emotional and psychological impact and aspect of transformational change through these three simple questions: 2 (1) What is changing? Bridges offers the following guidance the change leader s communication statement must: Clearly express the change leader s understanding and intention Link the change to the drivers that make it necessary Sell the problem before you try to sell the solution Not use jargon (2) What will actually be different because of the change? Bridges says: I go into organizations where a change initiative is well underway, and I ask what will be different when the change is done-and no one can answer the question a change may seem very important and very real to the leader, but to the people who have to make it work it seems quite abstract and vague until actual differences that it will make begin to become clear. It should be priority to get those differences clear. (3) Who s going to lose or gain what? Bridges maintains that the situational changes are not as difficult for companies to make as the psychological transitions of the people impacted by the change. Transition management is all about seeing the situation through the eyes of the other guy. It is a perspective based on empathy. It is a management and communication process that recognizes and affirms the employees realities and helps bring them through the transition. 2 Five Principles of a Good Change Management Strategy, William Bridges, VirtualProject.com Web site, April
8 What to avoid in transformational change initiatives Many transformational change initiatives have fallen short of true transformation. Common pitfalls include unclear governance, lack of management commitment, and lack of effective monitoring and control to ensure implementation occurs to meet the measurable objectives set forth. Overcoming these pitfalls goes a long ways toward ensuring a major initiative delivers the intended benefits. Bloated or unclear governance Too often during times of transformational change the governance structure and process is not clearly understood or is too complicated, involves too many people and delegates responsibility too far down the chain of command. Organizations often exacerbate this problem by attempting to involve seemingly everyone in the organization in decisions, regardless of the impact on their staff and processes. Worse yet, despite the involvement of many people, there's often a consensus needed, so instead of decisive leadership, the governance program is influenced by indecisiveness and multiple approval requirements that bog down progress. These types of problems are prevalent at large institutions in particular where the general structure of the organization is already very complex. What often happens in situations where the governance program is too large is that clear authority to make decisions is lost. The accountability for implementing transformational change must be pushed to the lowest level to gain buy-in and motivate front-line leaders and staff to adopt the new ways. Often, the middle managers, front-line supervisors or expert staff will resist change and find excuses not to transform. To prevent this, integrate the initiative s success into the individual s reward and compensation systems. Nothing provides focus like correlating a result to a person s compensation. Lack of management commitment Transformation initiatives require a passionate and empowered leader who is committed to the program's success, is situated at the right place in the organization and can achieve executive and steering committee alignment from the beginning. If your transformational initiative lacks such leadership, lip service and inertia can easily take root at the beginning of the project. One initiative we recently led had a resistant old-time employee reach out to the bank s CFO during the planning process. She claimed the planning effort was a waste of time and employees should simply be told what to do at the time of a major system conversion. How that CFO responds to the request shows where this bank is in terms of senior management commitment and support. Too many cooks in the kitchen Getting buy-in from many employees is important in any transformational change. But too many folks participating in planning efforts can create chaos and undermine productivity. One highly effective method which gains key input and buyin is to start the planning process with cross-functional action teams made up of rising stars, informal leaders and your sharpest staff. These key influencers will get fellow employees to follow their leads on the coming change, and offer insight on how best to implement new processes and technology. 7
9 This approach of cultivating the best and brightest avoids cumbersome meetings in groups too large to accomplish anything besides voicing resistance to the coming changes. Enabling successful transformational change A collaborative approach to gain employee buy-in To gain the buy-in of employees (but not too many employees initially) a collaborative methodology to solicit opinions and generate ideas on the implementation of the transformative change is necessary. This methodology should be efficient and democratic enough to ensure all employees have a voice in the plan development. The methodology should also have enough structure to guide various action teams toward forward movement, not letting them get hung up on details not critical to project success. This collaborative approach will keep group or committee members focused on the task at hand and should extend beyond the initial planning. A group collaborative methodology will be useful throughout the entire life span of the transformation initiative. Initiative structure with defined roles During the initiation and planning process, the formal governance structure should be constructed for the transformation initiative. Applying sound project and program management techniques, such as executive steering committee creation and assignment, are critical. An example of the organizational diagram from a successful transformational initiative is depicted in the following diagram. Common Program or Transformational Initiative Governance Structure Program Oversight Executive Steering Committee Program Sponsor Program Steering Committee FIS Client Relationship Manager Strategic Direction Performance Reporting FIS Program Manager Client Program Manager Project Integration Expectation Management Solution Architect Project Manager Project Manager Project Manager Project Manager Quality Manager Training Manager Project Delivery Team Project Delivery Team Project Delivery Team Project Delivery Team Assurance a Assurance a Assurance b Assurance Assurance c Assurance b Development Project Integration Project Conversion Project Core System Replacement Assurance c Project Structure 8
10 Senior management involvement and support Senior management must show their support and involvement in the transformation effort from the initial communication announcement until the final celebratory dinner. Financial institution executives must all sing from the same hymnal when communicating to employees. Formal presentations should be prepared centrally and internal memos crafted carefully. Most importantly executives must lead by their actions. They should be active steering committee participants. They should champion the new ways of business that surface during a transformative change. Senior management needs to demonstrate their support of the initiative and as well as the employees working to make the initiative a success. Metrics and measuring success The old saying that you get what you measure couldn t be truer than with transformation efforts. Operational and sales reports should be adjusted to measure the impact of any changes as they become implemented. New analysis will need to be created if new processes require different key performance metrics. There are typically meaningful opportunities to improve overall results by adjusting both the reporting and incentive reward systems, including: Production goal-setting to include not just metrics driven by the transformation initiative Periodic reporting of, and management follow-up to, performance against the goals, including coaching and other corrective actions to ensure focus on the desired results Incentive rewards designed to ensure the collection of fees and achievement of margin goals that are enabled by a transformational change effort Summary Transformational change is often required in these tumultuous economic times, but it is never easy. By taking a proactive, hands-on approach with proven change management techniques and communication planning, financial institutions improve their chances of realizing the significant benefits significant change can deliver. Contact Us For information about FIS Consulting, call or visit 9
fmswhitepaper Transforming Your Community Bank Survival of the Fittest By Bob Stevenson Consultant, FIS Consulting Services
fmswhitepaper Transforming Your Community Bank Survival of the Fittest By Bob Stevenson Consultant, FIS Consulting Services Unique Insights Implementation Guidance Strategic and Tactical Direction Immediately
More informationHow To Improve Your Bank'S Lending Process
Unlocking Value from Lending Operations with Business Process Improvement FIS Consulting Services www.fisglobal.com Unlocking Value from Lending Operations with Getting Back to Basics Many banks struggle
More informationSeven Principles of Change:
Managing Change, LLC Identifying Intangible Assets to Produce Tangible Results Toll Free: 877-880-0217 Seven Principles of Change: Excerpt from the new book, Change Management: the people side of change
More informationWhat a Core Transformation Offers Your Bank
What a Core Transformation Offers Your Bank 800.822.6758 Current State of the Banking Industry The banking industry as a whole continues to struggle as sources of new revenue remain elusive. With revenue
More informationProgress Towards the Paperless Financial Institution Enterprise Content Management in the Banking Industry
Progress Towards the Paperless Financial Institution Enterprise Content Management in the Banking Industry Russ Drummond FIS Consulting Services White Paper New Horizons for Imaging Document Management
More information15 Principles of Project Management Success
15 Principles of Project Management Success Project management knowledge, tools and processes are not enough to make your project succeed. You need to get away from your desk and get your hands dirty.
More informationDeveloping a Realistic Approach to Omnichannel Banking
Amit Aggarwal Mike McGinty FIS Consulting Services 800.822.6758 Introduction Financial services customers continue to expect more from all the channels they use to conduct banking transactions. Their experiences
More informationFinding, Fixing and Preventing Data Quality Issues in Financial Institutions Today
Finding, Fixing and Preventing Data Quality Issues in Financial Institutions Today FIS Consulting Services 800.822.6758 Introduction Without consistent and reliable data, accurate reporting and sound decision-making
More informationfmswhitepaper Strategies to Increase Fee Revenue By Achim Griesel Senior Executive Vice President, Haberfeld Associates
fmswhitepaper Strategies to Increase Fee Revenue By Achim Griesel Senior Executive Vice President, Haberfeld Associates Unique Insights Implementation Guidance Strategic and Tactical Direction Immediately
More informationSponsor of Audience Response System. Grant Thornton. All rights reserved.
Sponsor of Audience Response System 1. Between now and next year's Acquire or Be Acquired (Jan. 27-29 at the Phoenician), do you believe that the U.S. economy will: 1. Improve 45% 2. Remain the same 46%
More informationTHE DIGITAL AGE THE DEFINITIVE CYBERSECURITY GUIDE FOR DIRECTORS AND OFFICERS
THE DIGITAL AGE THE DEFINITIVE CYBERSECURITY GUIDE FOR DIRECTORS AND OFFICERS Download the entire guide and follow the conversation at SecurityRoundtable.org Collaboration and communication between technical
More informationAgile Master Data Management A Better Approach than Trial and Error
Agile Master Data Management A Better Approach than Trial and Error A whitepaper by First San Francisco Partners First San Francisco Partners Whitepaper Executive Summary Market leading corporations are
More information5 Steps to Increase Organic Loan Growth
5 Steps to Increase Organic Loan Growth 5 Steps to Increase Organic Loan Growth 5 Steps to Increase Organic Loan Growth 1 4 5 Many bank executives are anxiously scrambling to grow their lending business.
More informationBUSINESS PROCESS OUTSOURCING Four questions to ask when developing a strategy for your bank.
BUSINESS PROCESS OUTSOURCING Four questions to ask when developing a strategy for your bank. 1 2 3 4 INTRODUCTION Why should banks consider Business Process Outsourcing (BPO) today? A better question to
More informationProject Management: Back to Basics
About this research note: Technology Insight notes describe emerging technologies, tools, or processes as well as analyze the tactical and strategic impact they will have on the enterprise. Project Management:
More informationHow Smart Businesses Embrace Change Lessons to Enable a Successful Business Transformation
How Smart Businesses Embrace Change Lessons to Enable a Successful Business Transformation January Paulk Director of Client Services Organizational Change and Business Process Management Services Agenda
More informationOPTIMUS SBR. Optimizing Results with Business Intelligence Governance CHOICE TOOLS. PRECISION AIM. BOLD ATTITUDE.
OPTIMUS SBR CHOICE TOOLS. PRECISION AIM. BOLD ATTITUDE. Optimizing Results with Business Intelligence Governance This paper investigates the importance of establishing a robust Business Intelligence (BI)
More informationApproaches for Survey Feedback and Action Planning
Introduction Survey feedback and action planning are two of the most important components of an organization s survey process, but they are also the most difficult to do well. Although survey design and
More informationChange Management the missing link in electronic procurement implementations
Change Management the missing link in electronic procurement implementations Government Procurement in the Americas Conference October 28-29, 2015 1 What is the main reason financial/procurement system
More informationHow to Prepare Your Company to Manage Change
How to Prepare Your Company to Manage Change By Bill Brendler Brendler Associates A CustomerThink SMART Guide from Copyright 2003 CustomerThink Corporation and CRMGuru.com. All Rights Reserved. Introduction
More informationPost-merger integration
Post-merger integration It s never too late to optimize transaction value Prepared by: Greg Maddux, Partner, RSM US LLP greg.maddux@rsmus.com, +1 816 751 1845 Christina Churchill, Manager, RSM US LLP christina.churchill@rsmus.com,
More informationSUSTAINING COMPETITIVE DIFFERENTIATION
SUSTAINING COMPETITIVE DIFFERENTIATION Maintaining a competitive edge in customer experience requires proactive vigilance and the ability to take quick, effective, and unified action E M C P e r s pec
More informationHow To Motivate Employees To Integrate Marketing
Motivating Employees to Embrace Integrated Marketing A White Paper developed exclusively for based on results of the PMA/Northwestern University ROI of Integrated Marketing Research Project Research Results
More informationBriefing Paper. How to Compete on Customer Experience: Six Strategic Steps. www.syn gro.c om SynGro SynGro 2013 2013 Tel: +44 (0 ) 15 06 5 92 2 24
Briefing Paper How to Compete on Customer Experience: Six Strategic Steps How to Compete on Customer Experience: Six Strategic Steps Voice of the Customer as a term has come to reflect the growing understanding
More informationHow To Develop A Global Leadership Development Program
Global Leadership Development Talent Management CapitalWave Inc. White Paper March 2010 1 Table of Contents: Global Leadership Development (GLD): Distance. 3 GLD 2: Defining Leadership across Cultures
More informationMore Information About Coaching, Leadership Development and Andrea Gallien
More Information About Coaching, Leadership Development and Andrea Gallien Document provided for discussion purposes only Professional Certified Coach (PCC) EQ-in-Action Certified in EQ Assessment Introduction
More informationChange Management Is A Behavioral Competency You Can Develop
Change Management Is A Behavioral Competency You Can Develop Hinda K. Sterling Herbert L. Selesnick & Sterling Selesnick, INC Change Management Is A Behavioral Competency You Can Develop This article is
More informationThe Role of Feedback Management in Becoming Customer Centric
A Customer Centricity White Paper 5 Old Coach Road Hudson, NH 03051 603-491-7948 www.customercentricity.biz The Role of Feedback Management in Becoming Customer Centric By Stewart Nash QuestBack Boston
More informationPhysician Enterprise The Importance of Charge Capture, Business Intelligence and Being a Data Driven Organization
Physician Enterprise The Importance of Charge Capture, Business Intelligence and Being a Data Driven Organization Executive Summary Physician-hospital alignment is a key strategy for most hospitals across
More informationVisual Strategic Planning
9909 Mira Mesa Blvd. San Diego, CA 92131 Phone: 800-768-3729 Phone: 858-225-3300 Fax: 858-225-3390 www.smartdraw.com Visual Strategic Planning Thinking and Communicating Visually in the Strategic Planning
More informationBest Practices in Change Management 2014 Edition
Best Practices in Change Management 2014 Edition Executive Overview A look at Prosci s latest change management research In Brief: Since 1998, Prosci has conducted eight benchmarking studies to discover
More informationPortfolio Management 101:
THOUGHT LEADERSHIP WHITE PAPER In partnership with Portfolio Management 101: Moving from Just Project Management to True PPM A lot of organizations claim that they carry out project & portfolio management
More informationChange Management a Critical Success Factor
Change Management a Critical Success Factor BJ Bard, PMP, B Math, Strategic Change Management (Rotman) Director, Consulting Services Justice & Public Safety, Sierra Systems The Journey Today. A Real Case
More informationHow to Activate People to Adopt Data Governance
How to Activate People to Adopt Data Governance Awareness, Ownership and Accountability A whitepaper by First San Francisco Partners 2010 Copyright First San Francisco Partners How to Activate People to
More informationThe IIA Global Internal Audit Competency Framework
About The IIA Global Internal Audit Competency Framework The IIA Global Internal Audit Competency Framework (the Framework) is a tool that defines the competencies needed to meet the requirements of the
More informationAligning Business Strategies and Project Management
Aligning Business Strategies and Project Management 1 Table of Contents Introduction... 3 Project Management... 4 Business Strategy... 4 Aligning Business Strategy & Projects... 5 Role of Management...
More informationProcess-Centric Back Office Transformation
Industry Insights Banking Process-Centric Back Office Transformation Executive Summary By driving back-office efficiency, banks and other financial institutions seek to lower expenses and reduce business
More informationThe following is intended to outline our general product direction. It is intended for informational purposes only, and may not be incorporated into
The following is intended to outline our general product direction. It is intended for informational purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any
More informationLeading Practices in Business Transformation
Leading Practices in Business Transformation Stick To The Game Plan Business Transformation Conference October 2013 While the typical risks and challenges seem intuitive, why do business transformation
More informationTable of contents. Best practices in open source governance. Managing the selection and proliferation of open source software across your enterprise
Best practices in open source governance Managing the selection and proliferation of open source software across your enterprise Table of contents The importance of open source governance... 2 Executive
More informationWhite Paper. Change Management: Driving the Long-Term Success of Your Workforce Management Solution
White Paper Change Management: Driving the Long-Term Success of Your Workforce Management Solution How Do You Measure the Success of a Technology Project? When your organization embarks on a technology
More informationIntroduction to customer journey mapping
Introduction to customer journey mapping Copyright PeopleMetrics Inc. an ebook by introduction Customer Journey Mapping is growing in popularity in the customer experience space, and it s no surprise.
More informationCHANGE MANAGEMENT FUNDAMENTALS An Introduction to Managing Change
CORPORATE LEADERSHIP COUNCIL JUNE 2008 CHANGE MANAGEMENT FUNDAMENTALS An Introduction to Managing Change CORPORATE LEADERSHIP COUNCIL PAGE 2 TABLE OF CONTENTS Definitions of Change Management...Page 3
More informationSales Performance Management: Integrated System or a Collection Disjointed Practices? Jerome A. Colletti Mary S. Fiss Colletti-Fiss, LLC
Sales Performance Management: Integrated System or a Collection Disjointed Practices? By Jerome A. Colletti Mary S. Fiss Colletti-Fiss, LLC Performance is your reality. Forget everything else. Harold Geneen,
More informationWHITE PAPER. 7 Keys to. successful. Organizational Change Management. Why Your CRM Program Needs Change Management and Tips for Getting Started
7 Keys to successful Organizational Change Management Why Your CRM Program Needs Change Management and Tips for Getting Started CONTENTS 2 Executive Summary 3 7 Keys to a Comprehensive Change Management
More informationManaging the Customer Experience: A Case Study
A Customer Centricity White Paper 5 Old Coach Road Hudson, NH 03051 603-491-7948 www.customercentricity.biz Managing the Customer Experience: A Case Study By Craig Bailey Customer Centricity, Inc. Contents
More informationThe CFO leads cultural transformation and acts as a guiding light for the whole organization.
TELSTRA CASE STUDY The CFO leads cultural transformation and acts as a guiding light for the whole organization. I set out to transform the Finance Group into a support group that would create new value,
More informationPerformance Measurement, Rewards and Recognition: Aligning Incentives with Strategic and Operational Goals
Performance Measurement, Rewards and Recognition: Aligning Incentives with Strategic and Operational Goals Copyright Best Practices, LLC (919) 403-0251 1 ABOUT BEST PRACTICES, LLC Best Practices, LLC is
More informationInvolve-Project Manager
Involve-Project Manager This article will describe: What is Project Management Why is Project Management so important to community and voluntary organisations The Key Phases of Project Management: o Initiation
More informationRelationship management is dead! Long live relationship management!
XRM: From Fragmentation to Integration Executive Summary Relationship management is dead! Long live relationship management! But it s not just about customers anymore. The value chain has grown so long
More informationRealizing Hidden Value: Optimizing Utility Field Service Performance by Measuring the Right Things
Energy and Utility Insights Realizing Hidden Value: Optimizing Utility Field Service Performance by Measuring the Right Things Utilities Realizing Hidden Value About the Author Rob Milstead serves as the
More informationHow To Change A Business Model
SOA governance and organizational change strategy White paper November 2007 Enabling SOA through organizational change Sandy Poi, Global SOA Offerings Governance lead, associate partner, Financial Services
More informationDESCRIBING OUR COMPETENCIES. new thinking at work
DESCRIBING OUR COMPETENCIES new thinking at work OUR COMPETENCIES - AT A GLANCE 2 PERSONAL EFFECTIVENESS Influencing Communicating Self-development Decision-making PROVIDING EXCELLENT CUSTOMER SERVICE
More informationCREATING THE RIGHT CUSTOMER EXPERIENCE
CREATING THE RIGHT CUSTOMER EXPERIENCE Companies in the communications, media, and entertainment industries are using big-data technologies, user-centered design, and operational alignment methodologies
More informationWorld Class Equipment Management. CONEXPO 2014 Las Vegas. Presented by: Jim Schug Principal FMI Corporation. 2014 FMI Corporation 0
World Class Equipment Management Presented by: Jim Schug Principal FMI Corporation CONEXPO 2014 Las Vegas 2014 FMI Corporation 0 Who is FMI? FMI services span every phase of the construction firm s lifecycle
More informationQualities of a High Perf o r m a n c e Finance Executive: An Aggregation of Skills. John Trakselis, Principal M. Wood Company
Qualities of a High Perf o r m a n c e Finance Executive: An Aggregation of Skills John Trakselis, Principal M. Wood Company In tough times, Finance executives of all ranks (Controllers, Assistant Treasurers,
More informationA Guide to Reviewing Outsourced Contracts. By James Milner - Ember Public Sector Solutions
A Guide to Reviewing Outsourced Contracts By James Milner - Ember Public Sector Solutions Introduction from James Milner, Director EPSS Outsourced contracts in the public sector are now commonplace. Unfortunately
More informationA conversation with Scott Chappell, CMO, Sessions Online Schools of Art and Design
A conversation with Scott Chappell, CMO, Sessions Online Schools of Interviewed by: Steven Groves, StevenGroves.com Guy R. Powell, DemandROMI Can you talk to us a little bit about Sessions and what Sessions
More informationAdvanced Sales & Sales Management Training for the Experienced Professional. Questions? You may contact Jim at: 800-526-0074 jim@pancero.
Advanced Sales & Sales Management Training for the Experienced Professional Present Leading (and Tracking) Your Sales Team to Increased Sales Questions? You may contact Jim at: 800-526-0074 jim@pancero.com
More informationAPPLY AGENT BEST PRACTICES AND BRIDGE THE SUCCESS GAP Product No. 10041
APPLY AGENT BEST PRACTICES AND BRIDGE THE SUCCESS GAP Apply Agent Best Practices and Bridge the Success Gap Abstract Prepare your customer contact agents for the 21 st century by laying a foundation for
More informationIn a recent Aberdeen Research study, 70% of the banks surveyed believe effective user adoption is the
Opportunity Generation Coaching & Technical Support Improve Your CRM User Adoption Ron Buck Sales Tools That Make My Job Easier In a recent Aberdeen Research study, 70% of the banks surveyed believe effective
More informationHow To Consolidate A Service Desk
June 2005 Service Desk: Consolidation, Relocation, Status Quo Page 2 Contents Foreword So, you are going to consolidate or relocate your Service Desks 2 Foreword 3 Introduction 4 Select the transition
More information7 Deadly Sins. of Merger Integration
Sean Lyons Sara Fitzgerald The 7 Deadly Sins of Merger Integration 07.15.2013 Hundreds of experts have conducted countless studies about the long-term success of mergers and acquisitions and most have
More informationClient Onboarding Process Reengineering: Performance Management of Client Onboarding Programs
KNOWLEDGENT INSIGHTS volume 1 no. 4 September 13, 2011 Client Onboarding Process Reengineering: Performance Management of Client Onboarding Programs In the midst of the worst economic environment since
More informationSupply Chain Centers of Excellence: The Quest for Next Practices
Supply Chain Centers of Excellence: The Quest for Next Practices White Paper Contents 2 Supply Chain Centers of Excellence: The Quest for Next Practices 3 Challenges to COE Success 5 Technology: A Stimulus
More informationThe Importance of a Shared Vision
725 Kenilworth Ave., Glen Ellyn, IL 60137 630-469-8088 630-730-9619 leepublish@gmail.com www.strategicbusinessleader.com www.strategic-plan.com Developing a Shared Vision Make no little plans; they have
More informationMinimizing risk and maximizing your chances of success with ERP
STRATEGIC BUSINESS SERVICES WHITEPAPER Minimizing risk and maximizing your chances of success with ERP (how to become one of the 26.2%) The Wall Street Journal published an article stating that 73.8% of
More informationCable s Rapid Reinvention
Achieving Differentiation in a New Competitive Landscape Mark Syp, Group Vice President, Major Cable and Telco Accounts, Maritz abstract The lines are blurred. The cable industry has moved into a new,
More informationThe Path to Compliance: Selecting Another PIN Debit Network
The Path to Compliance: Selecting Another PIN Debit Network By: Kevin Barry General Manager, STAR Network 2011 First Data Corporation. All trademarks, service marks and trade names referenced in this material
More informationSix Reasons for Call Center Services in Bank Merger Situations. Sanjay Jain Practice Manager Virtual Back-Office Services
Sanjay Jain Practice Manager Virtual Back-Office Services 1 800 822 6758 Market Conditions Driving Bank Consolidation Current economic pressures force financial institutions to consider significant countermeasures
More informationPlatform-based Business Process Outsourcing
Platform-based Business Process Outsourcing FIS Consulting Services 800.822.6758 Overview Continued pressure on financial services firms profits is forcing bank executives to do more with less. A true
More informationEffective Enterprise Risk Management with ErmsCo ERM Foundation
Executive Brief Effective Enterprise Risk Management with ErmsCo ERM Foundation Introduction to ErmsCo About ErmsCo ErmsCo is a consulting and training firm that focuses on assisting financial institutions
More informationGovernance as Leadership: Reframing the Work of the Nonprofit Board
Governance as Leadership: Reframing the Work of the Nonprofit Board This document presents a summary of Governance as Leadership: Reframing the Work of the Nonprofit Board, a seminar sponsored by The Pew
More informationFrank P.Saladis PMP, PMI Fellow
Frank P.Saladis PMP, PMI Fellow Success factors for Project Portfolio Management The Purpose of Portfolio Management Organizational Assessment Planning a Portfolio Management Strategy The Portfolio Management
More information10 Simple Rules for Improving Your Sales Compensation Plan
10 Simple Rules for Improving Your Sales Compensation Plan Mark Donnolo It s the time of year when many companies are deep into executing to their business plans, evaluating performance, and thinking ahead
More informationProfitable Product Development for SME. Small to Midsize Enterprises Profiting from Innovation
Small to Midsize Enterprises Profiting from Innovation March 2007 Executive Summary S mall to midsize enterprises (SMEs) are actively pursuing product development improvements to deliver more innovative
More informationExecutive summary... 3 Overview of S&OP and financial planning processes... 4 An in-depth discussion... 5
Table of contents Executive summary... 3 Overview of S&OP and financial planning processes... 4 An in-depth discussion... 5 What are the benefits of S&OP and financial planning integration?... 5 Why is
More informationThe Strategic Management Maturity Model TM
The Strategic Management Maturity Model TM Many Institute clients ask a similar question as they work to improve their strategic management at their organizations: where do we stand compared with other
More informationEssentials to Building a Winning Business Case for Tax Technology
Essentials to Building a Winning Business Case for Tax Technology The complexity of the tax function continues to evolve beyond manual and time-consuming processes. Technology has been essential in managing
More informationSales Forecast. From Misery to Mastery: How to Build a Better Sales Forecast Tim Stahley. Executive Summary
From Misery to Mastery: How to Build a Better Sales Forecast Tim Stahley Sales Forecast Executive Summary Effective sales forecasting is critical to the success of any company, yet many organizations continue
More informationImplementing differentiated customer-centric strategies
Implementing differentiated customer-centric strategies Retail-banker-friendly strategy development that resonates with your customers and shareholders An Experian white paper Table of contents Introduction...2
More informationCustomer Centricity in Banking: Driving Revenue and Loyalty. Developing the 21st century workforce TM
Customer Centricity in Banking: Driving Revenue and Loyalty Developing the 21st century workforce TM In today s hypercompetitive banking environment, most financial-services firms are overlooking the one
More informatione-training Transition Project
e-training Transition Project Phase II e-training Communications Guide August 24, 2005 National Aeronautics and Space Administration Communications Guide for the Phase II e-training Transition August 24,
More informationConsumer Goods and Services
Accenture Risk Management Industry Report Consumer Goods and Services 2011 Global Risk Management Point of View Consumer Goods and Services 2011 Global Risk Management Point of View Consumer Goods and
More informationPricing for Profit with Project Management & Process Improvement
Pricing for Profit with Project Management & Process Improvement Presented by Timothy B. Corcoran FM03 10/2/2015 10:30 AM - 12:00 PM The handouts and presentations attached are copyright and trademark
More informationDriving Project Success with Organizational Change Management
Driving Project Success with Organizational Change Management Agenda Introductions & Objectives OCM Defined Driving Project Success with OCM Building an OCM Capability Case Study: OPRS ERM Program Speakers
More informationOperational Excellence using Lean Six Sigma Amit Dasgupta
Operational Excellence using Lean Six Sigma Amit Dasgupta Amit Dasgupta 1 Contents Introduction to Operational Excellence Deployment Practice Our Services Amit Dasgupta 2 Operational Excellence using Lean
More informationITPMG. February 2007. IT Performance Management: The Framework Initiating an IT Performance Management Program
IT Performance Management: The Framework Initiating an IT Performance Management Program February 2007 IT Performance Management Group Bethel, Connecticut Executive Summary This Insights Note will provide
More informationPrepared for: Your Company Month/Year
Prepared for: Your Company Month/Year This sample is a condensed version showing selections from an actual 4Cs Comprehensive Employee Survey Analysis report and balloons explaining the main features of
More informationACG s Growth Strategy and High Performance Business Consulting Services
ACG s Growth Strategy and High Performance Business Consulting Services ACG delivers telecom market share/forecast reports, consulting services, business case analysis, product and service message testing.
More informationConsulting. PMOver Transforming the Program Management Office into a Results Management Office
Consulting PMOver Transforming the Management Office into a Results Management Office Executive summary Regardless of size and complexity, most programs encounter hurdles and issues. Many are able to address
More informationITPMG. IT Performance Management. The Basics. January 2006. Helping Companies Improve Their Performance. Bethel, Connecticut
IT Performance Management The Basics January 2006 IT Performance Management Group Bethel, Connecticut Major failures in business come not so much from unmet goals, as from lack of response to unforeseen
More informationMoving the needle in Order Management outsourcing
Moving the needle in Order Management outsourcing From Process metrics to Business metrics Prashant Radhakrishnan, Vijay Kumar B. Executive Summary The crying call for any General Manager and P&L leader
More informationEmpowering the Quality and Regulatory Compliance Functions
Empowering the Quality and Regulatory Compliance Functions Management must take steps to ensure that regulatory and quality compliance is everyone s responsibility. By: J. Glenn George, Kenneth Imler,
More informationThe Case for Selective Outsourcing. FIS Consulting Services
The Case for Selective Outsourcing FIS Consulting Services 1 800 822 6758 Introduction In current times, speculation and negative criticisms raise national sentiment against outsourcing to offshore destinations.
More informationNew Developments in an Agile World: Drafting Software Development Agreements. By: Paul H. Arne 1,2
New Developments in an Agile World: Drafting Software Development Agreements By: Paul H. Arne 1,2 A few months before this article was prepared, a group of senior IT professionals from some of the largest
More informationIT STARTS WITH CHANGE MANAGEMENT
TRANSFORMING ORGANIZATIONS IT STARTS WITH CHANGE MANAGEMENT THE POWER TO TRANSFORM In today s globalized and inter-connected economy, organizations deal with continually shifting market conditions, customer
More informationGamification for Enhanced Sales Performance
Gamification for Enhanced Sales Performance Executive Summary Engaged Enterprise is a new term used to describe today s leading-edge companies that are successfully and actively engaging every aspect of
More informationSafety and Health Management Systems Assessments
STAR Consultants, Inc. This article presents a safety and health management system and assessment methodology that describes a process and provides a tool to measure the ability of management to achieve
More information