End-to-end Delivery of Large Scale Outsourcing Programme

Assisting international financial services client in delivering flexibility in operations and significant cost-savings via 3rd party outsourcing and offshoring

Opportunity to deliver cost-savings while enhancing service as part of new location and supplier strategy

Our client sought to improve longer-term performance and shareholder value by addressing a number of challenges within the technology function.

They wanted to deliver improved service quality, flexibility, innovation and value for money, all while lowering total costs to become a more sustainable business.

The proposed solution required offshoring and outsourcing elements of key IT functions, while retaining a lean, core technology organisation owning strategy, thought leadership and supplier oversight.

The following technology services were in-scope of the programme:

  • Application development & maintenance services across retail & investments business areas
  • Provision of a Security Operations Centre (SOC)
  • Workspace support services including build management, application packaging and maintenance of the MS Office suite
  • Service Management services
  • Technology Governance and Controls

A comprehensive procurement exercise and effective governance & oversight applied to transition of key services

Finyx facilitated the end-to-end procurement process on behalf of the client. We consolidated service requirements, developed the RFI/RFP materials and supported the evaluation and scoring phase which identified two high-scoring suppliers.

The client then asked Finyx to develop a final selection step to identify the ideal partner not solely based upon cost, but on their ability to engage with staff, and solve real client problems. We developed an approach and scoring mechanism to test key capabilities, which clearly identified one of the two short-listed suppliers as the preferred option.

The final element of the procurement phase was contract creation and negotiation. Finyx were responsible for drafting of the service-related contract schedules, and we also supported the negotiation of terms to deliver the agreed contract to the required timeline.

The client then required resources to assist with the management and governance of service transition.

Finyx provided a programme and transition manager with responsibility for:

  • designing and implementing a transition readiness review process;
  • engaging with external client functions where applicable (HR, Legal, Finance etc.); and
  • Designing and implementing a post-project evaluation methodology.

Finyx provided PMO resource to:

  • facilitate weekly working group and transition forums (with 3rd party in attendance); and
  • own the regular reporting cycle to feed into client’s change governance function.

Finyx provided multiple workstream leads who:

  • appropriately managed risks to successful transition of service; and
  • liaised directly with 3rd party suppliers and internal technology teams to identify and document handover requirements.

Successful transition to new supplier strategy, from selection to service commencement

As a result of Finyx’s involvement in the Procurement phase of the programme, the following was achieved:

  • a unanimous decision reached on the preferred supplier based upon our rigorous scoring mechanism
  • rapid delivery of contractual requirements by leveraging our extensive library maintained in our Service Requirements Framework
  • a signed contract incorporating a number of mechanisms giving our client the tools to effectively manage the new Suppliers going forward – clear, targeted SLAs and levers to manage supplier performance

As a result of Finyx’s support during Supplier Transition, the following was achieved:

  • a smooth transition period from the perspective of both the client and the new suppliers; leveraging our detailed Supplier Transition Methodology
  • timely and successful service commencement across 6 business areas; delivered within aggressive timelines and with no degradation to service.

Finyx took on an intermediary role, operating between the client and the new suppliers, providing assurance and managing communications and escalations throughout.