Centric

The Business Need

The client has an internal Process Improvement Organization (PIO), which focuses on driving significant operations management and process improvements across the enterprise. With assets exceeding $750 billion, and numerous operating units, management recognized the need to invest in a strategic initiative to improve business processes and service delivery.

A Strategic Partner

Centric joined forces with PIO to develop an internal consulting practice to achieve specific goals:

• Drive improved process efficiency and reduce non-valued added activities throughout back office operations
• Reduce underlying business unit cost structures
• Reduce operational redundancy by migrating selected business unit back office operations to a shared service model
• Partner with correspondents/customers to drive operational improvements that benefit both the company and its customers
• Instill quality management and operations management capabilities and discipline across the organization
• Create a single standard approach for business performance improvement

A Winning Approach

Centric partnered with PIO from strategy development through organization build-out and finally service delivery.  Key components of the solution included: 

• Development of a strategy and vision for the new organization including mission, vision, strategic positioning, service offering definition and value proposition analysis
• Completion of internal business unit analysis to identify high priority business units on which PIO should focus initially
• Development and build-out of an operating model including business development, service delivery and practice management capabilities
• Creation of operating models which included process design, organization design, tool development and metric development
• Development of an underlying business plan and financial model
• Provide ongoing senior staff augmentation to PIO to assist with resource ramp-up, provide specialized skills and to help balance supply/demand variability

Results

PIO has proven to be an effective organization, driving operations/process improvement services.  Through our ongoing relationship with PIO, Centric has successfully delivered on numerous projects, including strategic assessments, process reengineering, testing and regulatory compliance, and margin operations. PIO, in partnership with Centric, delivered more than $18 million in savings in just the first year.