WorkPlan – MCP – ATB Financials
Thisprojectinvolves assistingATB Financials developaplanfor the speed to market. The organizationhas implemented SAP replacing their core synergy banking system since2011. There is a real concern about the market dynamics in the banking industry and ATB ability to be more agile, adapt to the market needs to develop & launch new products to the customers. Even after five years after the SAP implementation, the CEO has realized the products launch is taking more time than before the SAP implementation and costlier, whereas it was promised to the Board the implementation of an Enterprise system will speed the delivery and will be cost effective in long run.
Additionally, the banking industry is moving away from brick and motor based to more digital/ mobile based organization and the ability to adopt quicker/ cheaper is critical for the success. The Chief Operating officer is assigned with the task to formalize a plan how the speed to market can be achieved in short term and in long term for ATB.
The CIO and COO had come up with couple of initiatives which will help to increase the speed to market in Fiscal year 2015, which were implemented. But in fiscal year 2016, the metrics results shows the lead time (Speed to market) has improved for larger initiatives and remained same for smaller initiatives.
The COO has requested for a deeper dive into the speed to market initiative and the reason why the initiatives were not effective. What measures or action need to be taken for the speed to market to be improved.
Todate,the chief operating officer has provided a direction to the organization to improve the speed to market by 60% compared to the previous year. This document includes the organization’s vision, mission and values, in addition to a generalizedoverview oftheSpeed to Market Initiative.
This document is based on ideas generated through working retreats, detailed data analysis and meetings with key stakeholders. Through thisproject,theprogressoftheorganization will bereviewedand keysuccessfactorsandtheorganization’s corecompetencieswillbeidentified.
Thecontextin whichtheorganizationoperateswillalso beconsideredto helpidentifykey challenges for speed to Market initiative. After identifyingwheretheorganization shouldfocus futureefforts,a reviewofthe organization’s structure, metrics, goals alignment will alsobecompletedtoidentify gaps and areas for improvement.
Thescopeofworkfor thisprojectincludesareviewofthelast fiscal year speed to market results and formation of a new plan for this fiscal year to achieve the speed to market goals.
Thisprojectwill alsoidentifykey through SWOT analysis the opportunities, threats and weakness for the failure in speed to market last fiscal year. The current metrics and measurement used for calculation of the Speed to market will be analyzed to determine the validity of the metrics or baseline. Future measurements, identification of road blocks keeping the organizational culture in mind to improve the speed to market.
Finally, identifyingfuture directions for theorganizations gaps for speed to market,whichwillleadtorecommendations with Goal alignment, Organization structure, Metrics & measurement, balanced scorecard, Human resource practices regards tostaffingandBenefit value realization.
Themainobjectiveof this projectis to assistin thedevelopmentofa strategicplanfor ATB Financials.
This willincludethefollowing major components:
– Identification of the organization’s current goals, 3 year strategy roadmap and its
alignment to speed to market;
– Review of the alignment between the organization’s capabilities and competencies and the organization’s goals;
– Current baseline of speed to market and review of current initiatives to improve the speed
to market
– Identification of existing and potential gaps between the goals of the organization, their capabilities and the expectations of stakeholders; Identification of reason for failure of current initiatives related to speed to market.
– Development of clearly defined objectives and action plans to improve the speed to market for future years;
– Recommendations with regards to future organization structure, Metrics, Human resource
practices, organization change (Business, IT, Vendors, Support Units) to improve speed
to market, Risk and
ThisprojectwilladdsignificantvaluetotheATB financials to compete with the market by launching new products quicker and cheaper. Currently, theorganizationhas spent around $500+ Million dollars in SAP implementation with the vision of integrated system will aid them to deliver products quicker and cheaper. Toensure the sustainabilityoftheorganization with its competition and current economic situation it is going to be impossible to operate the same way.
The plan will also assisttheorganization launching new products, enter new markets andunderstandtheunderlyingfactors that willensurethespeed to market resultsinpositiveoutcomes. Through an analysisoftheexternal andinternal environmentspotentialriskscanalsobeidentifiedandmitigated. Overall,this projectwillprovidemuchneeded metrics & measurement, structureofthe organization, goal alignment, and efficiency improvement andsetaclearpathfor its future digital transformational banking.
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