Overview
BMS, a global financial services broker providing specialist insurance, reinsurance and capital market advisory, was seeking to consolidate their existing outsourced IT services to a reduced number of suppliers. A Board challenge was raised about the capability and ability of the prime supplier to deliver the expanded services to a high quality necessary for this fast-growing organisation.
Client Challenges
- Required by the Board: an assessment of the existing supplier in a new prime position supplier to deliver the expanded services including an assessment of Capabilities, Reach, Scale, and Alignment
What did we do?
Aveas were asked to perform an assessment of the to-be prime supplier to deliver the expanded set of IT services and to provide assurance (and/or concerns) to the Board. To complete this, Aveas:
- Held a series of workshops with key stakeholders to assess both the scope of services, the delivery model and to capture any historic concerns with the Supplier
- Assessed the growth plans for BMS
- Captured BMS cultural fit requirements
- Assessed required contracts to understand how the consolidated IT services would come together
- Engaged the supplier and their delivery managers over a series of workshops and interviews and performed client reference calls
- Performed a risk assessment across all elements of delivery
- Reviewed the regulatory impact of a ‘material supplier’
- Reviewed the approach to transition and consolidation to the supplier
Across these activities, Aveas were able to perform an assessment and provide expert opinion on the Supplier’s Capabilities, Reach, Scale, and Alignment.
In addition to the supplier assessment, Aveas were also asked to perform a low-level assessment of the Supplier’s cloud services capability including reviewing the approach to migration to the cloud
What were the benefits?
Aveas provided an evidence-based assessment, an expert opinion of the ‘fit’ between BMS and the Supplier and a series of recommendations for the Board including:
- Managing the internal expectations of the role of the supplier vs what they were contracted to do
- An approach to integration focused on acceleration and parking key activities
- An assessment of the key inflight risks and how to mitigate them
- Recommendations on gaps for closure in the end-to-end operating model
- A 12-month plan focusing on key activities identified
The material was presented to the Board who were able to make a set of informed decisions. No further actions were requested by the Board as an outcome of our assessment.
Following conclusion of this supplier assessment, Aveas were retained to perform a more detailed contract review and to bring all the contracts up to date (i.e., ensuring that the services scope reflected the expectations and aligned to the commercial model), further assessment of project services approach, recommend service levels and partnership frameworks.
Aveas also produced a service model to enable communication of contracted services vis-à-vis internal responsibilities.