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Financial Services Firm Reduces Costs by $100 Million+ in Less Than 2 Years

A Fortune 50 Financial Services Company asked Gartner to help achieve significant cost efficiencies expected by the market while the company was transforming its IT organization to a new operating model. After developing a plan to reduce costs by $100 million plus in less than two years, the team also found ways to help improve IT process maturity, business credibility and program management.

Business Challenges

  • Executing a global IT productivity, efficiency and transformation strategy
  • Achieving significant cost optimization and efficiencies expected by the market while transforming the IT organization to a new operating model

Approach / Differentiation

  • Recommended performance targets for IT transformation strategy while identifying key areas for efficiency gains
  • Cost Benchmarking to drive optimization efforts
  • Reviewed and validated key consolidation strategies
  • Conducted IT Process assessments
  • Created Global IT Service Catalog through Price Benchmarking exercise

Results

  • Reduce costs by $100 million+ in less than two years
  • Consolidated several IT support functions resulting in improved service, increased efficiencies, and redeployment of personnel
  • Improved IT process maturity in selected IT process areas
  • Improved business credibility as competitive pricing of services to internal customers demonstrated market calibration