MASTERING THE DIGITAL REVOLUTION
Meet The Pivot And Thrive In The Digital Epoch
MASTERING THE DIGITAL REVOLUTION
Meet The Pivot And Thrive In The Digital Epoch
Changing Situations Present Risk whilst at the same time potentially offering Opportunity.
Meeting Digital Disruption Head-on
How actively enterprises embrace the benefits and address the risks of the Digital Revolution will of course differ. Ordinarily, during times of ‘vanilla’ change; some enterprises are bold and proactive, whilst others take a more conservative ‘wait and see’ approach. However, with Digital Disruption early indications point to a different scenario playing out. As the penny starts to drop, enterprises are taking the initiative to embrace digital. Our clients are telling us there is now an expectation of seismic change associated with digital over what could be a relatively short period of time. Financial Services companies haven’t been blind; they have looked across to other established industries and witnessed digital technology rip through and totally transform those industries. Collectively, there is conjecture this will soon happen to Financial Services. So stakeholders are telling us they simply do not have the option to wait and see, they know they must grasp the nettle and try to meet this change head on.
Leverage Existing Expertise
Typically, knowing one needs to do something is the easy part. Finding a way of doing something that’s new, that doesn’t exist today, is often less straight forward. Enterprises have two options. Firstly, to try and figure this stuff out for themselves. Work from the ground up, learn on the job and embark on a steep learning curve that is time consuming, expensive and a major distraction from their core BAU business. The second option is to bring in third party expertise, leveraging their existing research, knowledge and experience and let them do the hard graft and report back. It is not an uncommon model. However, as Disruptive Technology has only just recently emerged, there is currently a lack of expertise in the necessary cross-over between this field and Financial Services. There are clearly consultancies dedicated to Financial Services and there are consultants dedicated to Digital Technology but, for the time being the two distinct specialisms are almost mutually exclusive. Yet this is exactly the position into which Actual Intelligence has evolved. Having spent many years understanding, documenting and delivering the various operating models of different business units in the Financial Services Industry we have built up the necessary knowledge and experience to become experts in this field. In parallel, we identified several years ago that with the exponential growth of Digital Technology that our industry was ripe for disruption. Since then we have piled resources into researching and evaluating new Disruptive Technology solutions and providers.
Digital Transformation
It wasn’t long before Financial Services Enterprises requested we get involved in the Digital Transformation space so they could leverage the detailed work we had already done and benefit from our knowledge and experience. On top of this we understand the nuances of the bespoke business practices and the specific responsibilities of Financial Services companies, in a way pure digital consultants might not perhaps appreciate. So as a consultancy, this is where Actual Intelligence has positioned itself. We focus on the Financial Services Industry and we add value by applying best of breed Digital Technology to meet the business outcomes of existing operating models.
What Sets Actual Intelligence Apart?
Our point of difference is our in-depth knowledge of Disruptive Technology combined with our understanding of the detailed workings of the operating models of Financial Services companies. Put simply, we add value by combining our expertise in these two areas and we believe the combination of these elements makes us almost unique in the Financial Services consulting landscape. Whether Retail or Investment Bank, Asset Manager or Custodian; we’ve made it our mission to learn the complexities of how these enterprises do business. Combine that with our extensive research database of the; different types of software products, developing trends in the industry and best strategies to use to Digitally Transform companies, we are confident we can add significant value to your business.
Trusted Partner
A trusted partner should be cognizant of how Financial Services companies work; the pressures, governance structures, service providers, responsibilities to clients and regulators and how to integrate transformation with an existing book of change. As a trusted partner we stand as an independent third party between enterprise stakeholders and Digital Technology providers. We provide guidance on Digital Transformation best practice and support our clients in the search and selection of appropriate providers, ensuring our clients achieve the best possible business outcomes.
OUR SERVICES
OUR SERVICES
Intelligent Digital Transformation
By listening to our clients we have built a unique service offering to assist enterprises in aligning their businesses to meet the pivot of the Digital Revolution. By partnering with our clients, visiting their offices, seeing their processes and meeting their people we can help them formulate and deliver an appropriate strategy of Digital Transformation. We provide a framework of structured deliverables that ensures strategy quickly becomes reality. Our suite of service deliverables acts as our guide to help enterprises navigate through the Digital Revolution. The sound project management methodologies to which we adhere aligns well with our Financial Services clients. Meeting their exacting standards and responsibility to their clients and shareholders and ensuring they don't just survive but also thrive in the new Digital Epoch.
an end to end transformation process
To agree and publish a Digital Transformation Assessment [DTA]. Engage with senior stakeholders to confirm our understanding of the business; processes, deliverables and outcomes of your operating model. Overlay our knowledge and research of available products and initiatives and identify and explain appropriate digital technology for your enterprise. Set-out cost/benefit analysis of adoption and risks of non-adoption. Determine your current digital capability and establish a D-Tech Rating [DTR]. Put your rating into a context of your clients' expectations and your competitors' capabilities. Taking into account your existing book of change, agree with stakeholders a target DTR your enterprise would like to achieve and set-out the steps required to get there. Commence the scope of an enterprise wide Digital Transformation Strategy [DTS].
Publish an agreed Digital Transformation Strategy [DTS] document. Define the detailed scope for Digital Transformation of the enterprise. Set-up PMO function and agree programme administration with key stakeholders. Create a detailed plan for the realisation of Digital Transformation Strategy. Plan can be prioritised using a phased approach, starting with proof of concept or key problem areas. Select relevant technology types and begin selection process for most appropriate vendor/partner for that technology. Establish success criteria metrics. Measure productivity of legacy business processes for post implementation evaluation purposes.
Publish an agreed Digital Operating Model [DOM]. Define and agree the design of the DOM that will act as the blueprint for the build and delivery of the agreed scope of the DTS. Focuses on business outcomes and specific business processes being met by digital solutions. Organise around a structure of; modules, components, outcomes, deliverables and processes. Set in a context of internal and external Service Level Agreements [SLAs] and measureable performance metrics. Complete supplier; due diligence, selection, contractual negotiations and legal agreements. Confirm time frames and allocate resources to the programme plan.
Using established project management methodology; execute to the detailed plan, complete software configuration/build, prove out through testing phase and implement the DOM into the live BAU environment. Through an Agile cycle of build and test we incarnate the Digital Operating Model and bring it to life. Employee user groups to train staff on new systems. Supplier management critical to resolve any issues. Close stakeholder management throughout the process and fulfilment of agreed progress reporting cycle and management committee meeting updates. Ensure the DOM meets the scope of the DTS and is fit for purpose. Provide support to BAU staff through the agreed handover period.
Post implementation Digital Transformation evaluation reporting. Quantitative analysis to measure the change in productivity as a result of implementing the overall DOM and individual digital technology systems. Referenced back to the legacy operating model and systems and presented against the success criteria initially defined in the ‘Prepare’ stage. Demonstrate the relative value of the implementation and provide specific Return on Investment [RoI] metrics. Dataset made available for drill down detail of specific systems and associated business processes as well as customisable summary analytics.
Provide ongoing support with client’s Digital Transformation Strategy. Regular periodic reporting to include; Enterprise specific commentary, latest trends and enhancements in applicable digital technology and industry initiatives. Measure and monitor; progress of Digital Transformation, productivity gains and third party supplier performance. Benchmarking of digital services. Client, vendor and industry research and survey results. Digital Transformation user groups.