Disruptive trends are transforming the role of IT. The shift of IT decisions to business units and the pervasiveness of new service delivery models such as cloud and automation are all driving organizations towards dramatically different IT strategies and operating models. IT’s new mandate is to operate a cost-effective IT organization that is focused on driving business value.

Consistent with this new focus, core IT systems will need to be modernized, digital channels will need to be enhanced and optimized, new data and analytical platforms must be developed that directly impact business results, and greater attention must be paid to the new, digitally enhanced customer experience. These new imperatives will challenge IT organizations that have been primarily focused on “keeping the lights on”.

 

 

 

IT Strategy in Context

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Wavestone consultants are well attuned to this shifting landscape and the challenges of balancing these new objectives with traditional IT performance and stability, and in fact have led and transformed many IT organizations personally. We advise our clients in the development of the right IT strategy for supporting the business, and our approach is tailored to each client’s unique business requirements, competitive environment, and technology needs.

We approach IT strategy with a 360° view of the IT function to evaluate opportunities for scale and value, keeping two questions in mind:
  • Are we doing the right things?
  • How do we optimize?

Our development of IT strategy is underpinned by a comprehensive evaluation of each company’s IT environment across 6 key dimensions:

 

IT environment

 

Strategic Alignment

Review effectiveness of mechanisms for ensuring IT strategies and priorities are aligned with the business and examine the strategic relevance of current in-flight projects.

Processes Alignment

Assess IT processes for suitability, comprehensiveness, maturity, and efficiency, identifying process gaps and redundancies against future-state requirements.

Infrastructure & Apps

Determine suitability, scalability, cost, risk and security by comparing applications and infrastructure portfolio and operations against industry best practices most relevant to each company’s strategy.

People & Organization

Assess level of skills, capabilities, and appropriateness of organization structure.

Sourcing & Contracts

Evaluate balance between internal and external sourcing and assess value potential of leveraging 3rd parties and global service delivery models. Compare current practices with industry best practices and make strategic sourcing recommendations.

Financials

Perform detailed cost analysis across IT functions and activities. Compare staffing levels, internal labor costs and third party contracts and pricing against market benchmarks and make specific cost improvement recommendations.

 

 
Wavestone integrates recommendations across all six dimensions and creates a prioritized and actionable implementation roadmap, including:
  • Key implementation initiatives
  • Priority-based cost savings impact
  • Recommended implementation resources, requirements, and costs
  • Implementation dependencies
  • Risks and barriers to execution
  • Proposed implementation timetable

Once the IT strategy is defined and documented and the implementation roadmap is created, Wavestone can assist each client in executing some or all of their portfolio of initiatives to ensure that strategic benefits are realized.

 
Case Study: Broadscale IT and Business Transformation Program

A Fortune 500 health insurer required a complete optimization of IT and business process functions. Wavestone transformed 8,500 FTEs across seven BPO modules and 20+ functions. Supported multiple retained and shared services business process optimization mandates in F&A, procurement, and HR.

Value: $139 million projected five-year savings
 
Strategy Brief

Preempt disruption and gain a competitive edge.

Learn how the role of IT leaders is rapidly changing.

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Featured Expert

  • Featured Expert - Keith Chappell

    Keith Chappell

    Managing Principal

    • Keith Chappell has led corporate strategy organizations and professional services business units at major global technology corporations for over a decade.
      Read More

 

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