Creating Value in Financial Services

A Fortune 50 company had invested in a number of startup firms and was preparing to set up some of them as standalone units. SCA helped create a simulation to assist company leaders in determining the structure of the new units. We assessed business processes in the Silicon Valley and created options for company leadership to ponder.

Advisory

A leading financial services company decimated its procurement organization when an internal audit uncovered bad practices. The challenge was to create a procurement group from scratch, two years after most of the team was dismissed.

A top-notch team was recruited from outside the financial services industry. Then, a sourcing and procurement toolkit was developed based on the best methodologies from world class CPG, pharma, and consulting businesses. Classic procurement methodologies were introduced in nontraditional areas of spend – including custodian and mutual fund administration, brokerage operations, prime brokerage services, treasury, etc. Cost reductions averaged 41% and internal customer satisfaction scores exceed 90%. Most importantly for this firm, frequent repeat audits uncovered no negative audit findings.

Strategic Project Support

Helping a Fortune 200 Bio Pharma company prepare for a significant technology transformation. Created a negotiation planning process, and coaching less experienced members of the team in the elements that must be pulled together in advance of supplier conversations. Also building a strategy for the procurement organization, integrating market trends with internal client objectives to create six workstreams of support.