The financial services provider decided to rigorously update their service and delivery model (what they deliver and how). They wanted to create a business-driven change program encompassing people, processes, applications, systems, BI, risk and quality management. To accomplish this, they chose to leverage Mavim as a Business Operating System.
As a regulation-driven business, it was critical for the organization that their business operating system gave them the ability to continuously comply to their numerous, continuously changing legal obligations. Mavim enabled them to define and classify risks and connect them to control activities and processes. When a local law changes, all people working on the impacted processes receive notification of the change and can give feedback. This helps to facilitate “soft” change, by getting the relevant information into the hands of the person who needs to make the necessary adjustments to their way of working.
The Business ResultsAccording to the Group Process Owner, “When you start working on processes like these, you have to work in an ecosystem. You don’t want the process owner to just write a process and then introduce it to the organization. What you want is to involve the people who do the work. You want management to stay involved. You want your PMO department involved. You want your marketing and learning & development involved. The system enables us to subscribe people to these processes in an ongoing way. It facilitates multi-disciplinary groups, spanning business & IT, to work together in Mavim to make these processes a success. It feeds into marketing and sales, internal support. The HR department gains access for recruitment and performance management. Legal and compliance gain access from a risk management perspective. The IT department looks at the process from an application change management perspective. Mavim is good at connecting these varying people and allowing them to contribute in an ongoing fashion. This ensures that the right people get the right job done.”
According to the Group Process Owner, transparency was the most important business value that the organization derived from utilizing a Business Operating System. Increased transparency has created a number of desirable outcomes; including, insight into when work is being done twice, insight into individual performance, as well as a truly comprehensive view of its portfolio of risks and visibility into any systemic issues, which helped ensure that no material risk was left unattended. Mavim had been initially selected to help the financial services provider alter their operating model; however, upon completion of the project, they saw additional value in using Mavim to integrate their numerous acquisitions. Mavim is currently being used to help them integrate their 40 global offices in 30 countries and institute a client life cycle that is uniform for each location.