Transformational Change

Operating Model Assessment, Optimization & Redesign

The financial services sector has evolved over the past 20 years with consolidation, implementation of transformative front, middle and back-office technologies, increasing leverage of third-party service providers, increased regulatory scrutiny, margin pressures and increased stakeholder demands. CFOR can assist in navigating these complexities and provide a clear path forward. The CFOR Operating Model Assessment, Optimization and Redesign Service can be customized based on the size and needs of your organization.  The assessment can include a specific department or the entire operation.

The standard assessment includes scope definition, end-to-end documentation of the current state, incorporation of stakeholder feedback, infusion of industry norms, awareness of regulatory requirements, deep analysis, and formulation of an end-to-end recommendation to optimize and simplify the operations landscape.

 Once the operating model is approved by senior management, CFOR can partner with you to plan and implement the new operating model.

Technology Stack Rationalization

Many clients have a variety of applications implemented over the years performing various functions. Additionally, with consolidation in the financial services sector, some clients have redundant applications. In many cases, the applications individually or collectively do not satisfy current or future business demands.

The CFOR Technology Stack Rationalization Service will partner with you to document current and future business requirements, the interconnectivity of the in-scope services with the enterprise and service providers.  Technology application solutions will be examined to solve current and future business requirements as well as how the applications integrate in the overall technology ecosystem. The rationalization will include request for proposals, application demos, rating of application delivery vs business requirements, and cost assessments. A final document will present a fit-for-purpose simplified technology ecosystem with the top vendor applications for final approval.

To maximize the benefit of a new technology solution, the supporting operating model utilizing the applications should be assessed. CFOR can partner with you to complete the operating model review to achieve expected results.      

Service Provider and Location Strategies: Insource vs. Outsource & Onshoring vs. Offshoring.

Clients have different appetites and approaches to “who” is performing the work and “where” work is being performed. There are many factors driving the decision such as control, cost, margins, resilience, industry forces, and geopolitical issues.  Based on client preferences, the CFOR Service Provider and Location Strategy Service can assist with the analysis, selection and implementation of service provider and location strategies.

The insource vs. outsource decision will determine “who” is going to perform the functions. If the client is currently performing the functions, the analysis involves understanding current capabilities, costs, future demands, and an assessment of the ability of the internal teams to keep pace with business expectations. The results of the internal assessment are compared vs. a similar assessment of third-party service providers. The final analysis will provide details for management to select the optimal option for their client specific preferences.

The onshore vs. offshore decision is “where” the functions are performed.  Offshoring is internally moving work to a low-cost location in a different country.  Onshoring is internally moving the work to a low-cost location in the home country.  Both options require an analysis that involves understanding business requirements, goals and finding locations with a favorable economic environment and an appropriate resource pool to manage current and future business growth.

CFOR can help organize these multifaceted complex decisions and provide a framework for our clients to reach their optimal solution. One approach does not fit all.

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