40% cost reduction benefits achieved through a Global Target Operating Model
BACKGROUND
London Market insurer achieved 40% cost reduction benefits through the implementation of an innovative global target operating model.
SOLUTION
London Market insurer, with the help from ecosysBiz, decided to transform its organisation by implementing an innovative global target operating model. 40% cost reduction benefits were achieved through the implementation of this innovative TOM.
ecosysBiz helped the client to define a target operating model or blueprint. The TOM provided the “architect’s sketch” and the detailed design of the future business for all stakeholders to view.
The TOM was aligned to the organisation’s objectives for growth and cost reduction. An operating model maturity assessment, capability model and a road map were among those artefacts we defined as part of the TOM transformation.
DELIVERABLES
- Governance Model. Definition of roles and responsibilities
- Capability Model. Consolidation and streamlining of capabilities
- Standardisation, Implementation of standardised processes that could be scaled up to other geographies
- Centralisation, Low-critical tasks were performed through a centralised shared service at a lower-cost
An overall 40% cost reduction was achieved from its innovative TOM.
How Can We Help
Drawing on ecosysBiz’s experience, organisations must innovate their operating models to achieve growth and generate more revenue.
Organisations can only transform by defining a target operating model (TOM) for fast growth and innovation. The TOM could also even reap substantial cost savings or cost reduction benefits by embedding the right strategies.
A conventional operating model design won’t help organisations to adapt to volatile or uncertainty markets, or successfully execute their strategies or achieving growth. For instance, silo-ed strategies, processes, technology, and data result in isolated, disconnected and dysfunctional functions which makes it impossible to attract or retain clients.
ecosysBiz emerged as a result of extensive work carried out by an experienced consulting team who have been successfully pioneering “out-of-the-box” solutions within well-recognised organisations worldwide for decades. Our aim is to help organisations navigate disruption, embrace innovation and transformation to manage regulatory change and integrate business and technology to transform performance and achieve long-term growth.
Our approach is disruptive, unique and cost-effective. We pride ourselves for our precision of execution and benefits realisation.
