The CFO and CIO of a major Fortune 500 financial services company have just stepped into the room. Business leaders for all of the firm’s major lines of business are also in attendance. The meeting is just about to begin.
Wipro Consulting was entrusted by the client to build out its transformation strategy. Wipro has worked with the client for the past five months, assessing the technology platform, operations spending, and labor allocation of its business. The engagement focuses on analyzing the existing activities and evaluating the firm’s organizational structure, processes and tools to formulate an optimal strategy. The meeting agenda will focus on the outcome of Wipro’s assessment and evaluate the recommendations of the group.
Result: The executives are excited about the proposed strategy and surprised by the potential cost savings. The client has requested a proposal for the implementation plan of the new strategy.
Wipro consultants have:
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Dynamic interpersonal skills
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Strong leadership ability
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A think outside of the box mentality
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An ability to thrive in an entrepreneurial environment
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An appetite for continuous intellectual growth
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A desire to help our clients achieve operational excellence and transformational change
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Outstanding analytical skills to gather insightful information for data provided
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Ambitious goals for career development
Learn more about joining Wipro Consulting…
Send us a cover letter and resume to recruiting@wipro.com.
Case -- Strategy, Architecture, business consulting, and systems integration services to create a financial services startup
The Client
Securities Lending Trading Exchange Institutions
The Issue
Two securities firms were interested in creating the necessary business and technical components to automate the lending of securities amongst themselves. They lacked efficient, standards-based processes for securities lending. There were no common application protocols to conduct online transactions. In general, the client was experiencing manually intensive front and back office activities. Furthermore, there were a significant amount of failed trades in the settlement process.
Wipro’s Approach
1.
Encouraged clients to seek more partners and create a securities lending exchange to lower TCO and increase the liquidity of the market; initiative expanded to ten leading financial firms as founders.
2.
Facilitated consensus among founders to create industry wide global standards and platform.
3.
Defined business model, architecture, and plans.
4.
Designed and developed exchange with web interface, back office integration, and highly available systems in lights out data centers with remote mgmt and redundant WAN links.
5.
An appetite for continuous intellectual growth
Impact to Client’s Business
1.
Achieved more than $11B in volume within the first two weeks; daily available securities exceeded $1 trillion. Daily trade value scaled to $20B/day in 2006.
2.
Increased liquidity and reduced risk in securities lending market.
3.
Removed redundant infrastructure among founders.
4.
Created new XML standard called SLML.
5.
Improved operational efficiencies by leveraging a single common platform for exchange participants and streamlining front and back-office processes.
6.
Lowered entry cost for future exchange participants.
7.
Created resilient, scalable, efficient and flexible architecture.
Business Process Improvement
Case - Fuel delivery process improvement using Six Sigma and Balanced Scorecards
The Client Leading Global Oil and Gas Company
The Issue
The client had over 12,000 retail and commercial sites throughout the U.S. The client’s ability to reliably forecast and deliver fuel on-time was affecting top and bottom line. Fuel delivery caused run outs and retains averaged around 5-7% per week, respectively and varied by markets. Issues with run outs also affected business in terms of retail customer satisfaction and loyalty, its brand positioning for fuels and its convenience retail business and services.
Wipro’s Approach
1.
High-level process mapping to diagnose situation and define the issues throughout logistics value chain.
2.
Prioritized and evaluated issues utilizing Six Sigma methods.
3.
Defined Six Sigma initiatives to improve the organization, processes, and systems, along with methods to measure using balanced scorecard approach.
4.
Evaluated, tested, measured and refined recommendations within market lab in key pilot markets.
5.
Rolled-out process recommendations to users and stakeholders.
6.
Established and implemented methods for monitoring and measuring effectiveness of improvements.
Impact to Client’s Business
1.
Improved delivery reliability by reducing retains and run outs by more than 50%, respectively in markets piloting process improvement recommendations.
2.
Realized a net savings of over US .35 mn per annum per market after the process improvements.
3.
Rolling out process improvements throughout over 50 markets, managed through.
IT Consulting
Case - Organizational Performance – Productivity Based Budgeting
The Client A $3B credit card and payment solutions provider
The Issue
1.
Maintenance costs were responsible for over 80% of the client’s IT budget. Maintenance was a black box with no visibility on key drivers of spend
2.
Little or no linkage to productivity or metrics existed
3.
Client could not compare labor productivity to outside benchmarks
4.
Existing process penalizes cost savings and process improvements
5.
Managers did not know what drove demand and did not have clarity on cost of services
6.
Tracked too many metrics that were irrelevant and took too much time to track
Wipro’s Approach
1.
Designed productivity based budgeting program and tool set with clear definitions of maintenance and other spend
2.
Designed and administered a training program on labor productivity and the new process across 200+ cost center managers and finance personnel
3.
Mentored and advised cost center managers through one-on-one brainstorming sessions
4.
Analyzed information for:
a.
Amount of ad-hoc work deviating personnel from their day-to-day functions
b.
Size of “STAFF” type personnel
c.
Indirect impact of release efforts
d.
Behavioral changes needed for enabling better data for decision making
Impact to Client’s Business
1.
Reduced maintenance cost by $25M
2.
Catalyst for cultural transformation, changing the organization’s DNA
3.
Reduced Staff FTE; remainder of workforce is more utilized, productive, and accountable
4.
Generated realization of the need for better metrics
5.
Initiated more productive dialogue with business about business decisions
6.
Has visibility into hidden cost of releases
7.
Accesses benchmarks to identify stressed and inefficient areas
8.
Receiving support from top-management for program despite initial resistance and skepticism
