- Industry: Financial Services
In a fast-evolving environment, agile institutions will gain the upper hand—and IT operations are often the key to agility. All banks can benefit from assessing IT capabilities annually for efficiency, effectiveness, and flexibility.
Most banks struggle with advancing new business strategies due to complex IT architecture that causes high technology operating costs. Consider:
- How do your IT costs compare to industry norms?
- Are you able to respond quickly to new business needs?
- What percentage of your budget do you allocate to application development?
- Is your efficiency ratio higher than your peers or competitors?
- Does your 2015 budget account for IT rationalization and cost reduction?
In a fast-evolving environment, agile institutions will gain the upper hand—and IT operations are often the key to agility. All banks can benefit from assessing IT capabilities annually for efficiency, effectiveness, and flexibility. We can help.
Combining deep banking experience with technology and process optimization expertise, we work with many institutions to identify opportunities for simplifying IT operations—and then develop practical plans for implementing them. Our team has performed more than 650 IT due diligence projects, utilizing a well-honed methodology that enables us to provide recommendations quickly.
Insight—fast, effective, objective
Our IT simplification assessment offers a fast, effective, and objective approach for identifying improvement opportunities. After working with you to understand areas of concern and to define the project scope, we then:
- Review IT strategy and initiatives planned for the next 12-18 months
- Evaluate IT management, including technical competence, leadership skills, and business relationships
- Evaluate key IT operational processes; e.g., data back-up, fault tolerance, disaster recovery, and security
- Assess your application portfolio for potential rationalization
- Evaluate your network, servers, and telecom infrastructure for reliability, performance, and scalability
- Evaluate your IT infrastructure applications in use for reliability, performance, and scalability
Based on our reviews and observations, we prepare an analysis and road map for reducing IT complexity. This includes:
- Identifying applications to be phased out and/or replaced
- Analyzing IT spend and compare against industry and proprietary benchmarks
- Identifying short-term cost-reduction opportunities ("quick wins"), as well as longer-term savings
- Prioritizing those savings opportunities and preparing a road map for achieving them
That’s business in the right direction.