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Financial Services Institution

“We had an opportunity to reinvent ourselves and wanted to make the most of it. This is not a ‘lift and shift’ to a new tool, but a re-engineering of our processes.”

Vice President and Process Improvement Manager

Company overview

The one of the largest diversified financial services institutions in the United States, with assets of more than $400 billion and operations including over 2,400 branches across 19 states. The firm is organized around local delivery of retail and business banking, including a full range of lending products, specialized services for corporations and government entities, and wealth and asset management.

The challenge

In 2018, the company launched a national expansion of retail banking services. While growing its customer base across new digital channels, the company is also developing several brick-and-mortar solution centers. To support this expanding scope of operations and digital transformation, yet still manage costs and risks, the company’s Enterprise Project Management Organization (EPMO) needed to restructure their processes and deploy a new Project & Portfolio Management (PPM) system

The firm’s legacy PPM system was an on-premise solution that required significant administrative resources and did not provide the flexibility required to manage the growing number of diverse projects. In addition, the legacy PPM was not used enterprise-wide. The lack of a centralized and adaptable PPM made it difficult to support the collaboration and close teamwork required for optimal project execution.

The solution

In early 2018, the firm’s EPMO selection committee set out to evaluate eight leading PPM solutions. The cloud-based Clarizen One PPM stood out from the group thanks to its adaptable structure, extensive collaboration tools, friendly user interface, lower cost of ownership, and superior customer support team.

The company’s EPMO team began developing an internal portal to serve as a hub for all information related to the transition to a unified PPM and how projects would be managed using Clarizen for the entire portfolio moving forward. “We had an opportunity to reinvent ourselves and wanted to make the most of it,” says Vice President and Process Improvement Manager. “This is not a ‘lift and shift’ to a new tool, but a re-engineering of our processes.”

The EPMO team designed a comprehensive, multi-level program to introduce project managers, line of business managers, and team members to Clarizen. The goal was to achieve 100% user adoption of the new PPM. “We have developed tailored learning and communications for each group we are on-boarding,” says Vice President and Strategic Integration Manager. “We made sure each group got what it needed and explained what the differences are, all within the PPM portal.”

The EPMO team is using several key tools and strategies in this initiative. These include crafting organization change plans, as well as journey maps that visually convey the significant end-user impacts from those change plans. They’re conducting polls and surveys to measure engagement, optimizing training materials, and creating readiness adoption metrics that keep leadership apprised of progress. There’s a commitment to ongoing communication and training events that range from road shows and FAQs to blogs and games.

Results

Clarizen One is now the main focal point to drive their digital transformation. The new system is helping the company enterprise-wide, to better understand projects from vision to execution, and to provide seamless collaboration and flexible delivery for projects of any size, complexity, or execution methodology. “Business process re-engineering has been and will continue to be a major part of our Clarizen adoption,” says Senior Vice President of EPPM Client Services.

The EPMO rollout team has helped several lines of business initiate Clarizen to begin managing their own projects. “The feedback from the users who have migrated to Clarizen has been very positive,” says the Director of PPM. “They are learning to do things differently—to do things better. They are now required to provide more comprehensive details which, of course, makes the information more useful for all project stakeholders.”

Clarizen’s cloud-based PPM has helped position the institution to understand and manage all projects at a task level, while affording their management team a 360-degree view into their entire portfolio. It has allowed the company to consolidate multiple legacy PPM applications into a single unified solution, saving or avoiding up to $8 million in licensing and support costs.

The firm’s project managers are saving 2-3 hours per week by eliminating repetitive and unnecessary work. That equates to thousands of hours with an estimated cost of $14 million saved each year. They will also look at how Clarizen PPM is helping to accelerate project completion, reduce project costs, and provide better service for their customers.

Fast Facts

Industry:
Financial Services

Location:
United States

Previous Solutions:
CA Clarity, Daptiv, MS Project

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