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Financial Services Firm Saves $32 Million

A major US financial services firm asked Gartner to review its corporate wide initiatives designed to reduce costs and improve operating efficiency ratios. After finding $28 million in cost saving opportunities from application portfolio management and an improved sourcing strategy, the team found ways to save an additional $4 million.

Identified Cost Savings

Business Challenges

  • Improve service quality while reducing IT delivery costs
  • Find efficiencies in global sourcing and application management
  • Advance the maturity of key processes to improve organizational agility, flexibility and cost performance

Approach / Differentiation

  • Reassessed sourcing strategy and sourcing roadmap for efficiency
  • Estabished a project management office (PMO) to reduce risk and manage costs more effectively
  • Recommended ways to improve bottom-line business performance with application portfolio management

Results

  • Quantified cost savings of $28 million
  • Identified additional cost savings of $4 million beyond those originally expected