The largest Mutual Fund company in the world needed to significantly increase responsiveness to its customers, reduce cost and time to market for new services, and decrease its cost of service delivery.
Their cash management division saw an opportunity for improvement by updating its 12-year-old back-office systems and processes. They needed help coordinating the various stakeholders and departments to create a unified plan that addressed both business processes and systems improvements.
Back Office Re-Engineering
iSoftStone re-engineered the suite of back-office platforms responsible for pricing, shareholder transaction accounting, and fund control by leveraging our RapidStart methodology. Business process management and re-engineering were the primary focus, upgrading the legacy processes and systems to support a rapidly changing business. iSoftStone used Lean Six Sigma processes to rapidly gather input from business leaders within the company as well as from their customers. iSoftStone then drove the development of the business case: cross-company implementation plan focusing on prime broker, retirement, retail, institutional, and corporate practices.
More Than Just QPIs
The multi-year plan achieved significant cost reduction through improved efficiency. Our methodology achieved tertiary benefits including; the identification of unique and shared needs across the organization; the automation of manual processes; expanded reporting capabilities; the Identification of new service opportunities and new internal clients; and the Identification of Six Sigma quantifiable process improvement benchmarks (QPI).