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Success Stories > Diversified Financial Services

A diversified global financial services company known for its full range of payment processing and payment product businesses.

Challenge: Pursuit of scale led to increased complexity and challenges in coordinating geographically dispersed operations and international integration projects. In order to deliver merger benefits to shareholders, the client embarked on an ambitious program to integrate and simplify operations, facilities and people. Facing a deteriorating business climate, the client also realized that successful integration at the business level must be by a coordinated action to streamline its IT strategy. This decision was influenced by concerns about the organization's capacity to implement and absorb change at the planned rate and its ability to ensure that IT investments would yield planned benefits. The client needed to reduce IT investments to a level that was compatible with overall cash flow targets without cutting back on the promised integration and business benefits.

Solution: Fulcrum was brought in to work with the customer’s executive team to align IT spending; to assess all investment data against consistent criteria, model the financial aspects of various investment scenarios and determine the concrete actions required to achieve these scenarios. Within four months, the client's portfolio of IT investments was assessed, filtered and prioritized. This represented a pipeline of over 1100 IT projects which made for high complexity due to the many interdependencies. Speed to value was critical, so the assessment focused primarily on the largest and most strategic projects which together made up the bulk of the planned investments.

Results: Fulcrum teamed with the customer to deliver these results providing analytical tools and techniques that allowed rapid progress, a new point of view to challenge conventional thinking as well as discipline and execution focus to ensure that the initiative resulted in real change and business results improvement. The joint team delivered a new IT agenda that reduced spending on IT development by $80M and brought forward the break-even point for the portfolio of IT investments. In total, the analysis uncovered over $175 million of value to be delivered over a three-year period through reprioritization, better sequencing of projects and an improved approach to critical projects. At the same time, the new IT investment agenda has lowered risk and increased the probability of success for each of the initiatives. At the heart of this success was the management team's determination to take a portfolio view of the entire IT investment agenda. This allowed the client to allocate more funding to those critical projects with very strong business cases—in the midst of a general reduction in IT spending.