BUSINESS TRANSFORMATION – FINANCIAL SERVICES SECTOR

BUSINESS TRANSFORMATION – FINANCIAL SERVICES SECTOR

THE OPPORTUNITY

In 2012, a leading South African Insurer partnered with CatalytIQ to drive a programme that would transform the Operating Model of one of its core businesses.

CatalytIQ drove a business transformation structured over 3 years that was centered on positioning the business for growth by optimizing operations, developing a fundamentally new product suite and service model and realigning the culture and organizational design to support the new model.

OUR APPROACH

FOCUS:

  • Working in the capacity of programme management, with direct access to top executives and operational leadership from across the business value chain – the team supported the business leadership team in crystallizing the future state vision through rigorous blueprinting and visualization.
  • Ensure broad stakeholder alignment ito intent, vision and business benefit.
  • Manage key stakeholders across the organisation from the Board level down to ensure buy-in, support and continued traction.

TOOLS & TECHNIQUES

  • Build a detailed benefits model that surfaced the link between target benefits and what needed to change within the business to effect that change. Direct links to the projects within the programme that would directly/indirectly effect the change were made with clear links ito timing and materiality.
  • Create clear execution plans in support of the above stated vision and drive focused execution against them.
  • Create a capability for scanning and integration that would allow us to adapt our approach as things emerged during the course of the transformation.
  • Use rigorous benefits tracking to keep us honest in terms of tactical decisions along the way and as a mechanism to quantify the impact of such decisions to the Steering committee.
  • Develop many frameworks and responses to describe propositions, target business blueprint.
  • Develop MI framework and drive delivery of operational and executive MI that would transform the business.

STYLE

  • Set up a cross functional team and work across Business Units to manage the decision making.
  • Immerse into the organisation and work as part of the team.
  • Remain technology supplier agnostic, but clear on the technical building blocks required to be successful.
  • Keep the leadership team honest and focused on the goal through the tough times and be there every step of the way to support the team.

PROGRESS

  • The transformation was successfully concluded at the end of 2015 with a few initiatives being continued through BAU. Benefits were successfully delivered and significant contributions have been made to the business ito new capabilities, skills and perspectives on how to run this new business successfully.
REGULATORY RESPONSE – FINANCIAL SERVICES SECTOR

REGULATORY RESPONSE – FINANCIAL SERVICES SECTOR

THE OPPORTUNITY

In 2011, a leading South African Insurer partnered with CatalytIQ to create a programme that would support the business in understanding the impact of the impending Treating Customers Fairly legislation on the business and initiate and run a programme that would support the business by driving an appropriate response.

Through an initial investigation of the landscape, collaborative framing of the business benefits and objectives and creation of a target business blueprint, CatalytIQ initiated a business transformation structured over 3 implementation phases.

CatalytIQ initiated a business transformation structured over 3 phases – impact assessment, first response cycle, operationalization & supporting the policy owner’s office.

OUR APPROACH

FOCUS:

  •  Working in the capacity of programme management, with direct access to top executives and operational leadership we used FSB guidance to craft various frameworks to support a rigorous guided business self assessment process.
  • Drive a process that ensured alignment of interpretation across business areas and using the engagement process and a customised maturity model to deliver an aligned view of the target state (vision over immediate, 3 year and 5 year timescales).
  • Manage key stakeholders across the organisation from the Board level down to ensure buy-in, support and continued traction.

TOOLS & TECHNIQUES

  • Using the FSB self-assessment guide as a basis – develop a rigorous framework for collating functional assessments, identifying proposed focus areas realisation along the way.
  • Develop mechanisms for prioritizing focus areas and responses.
  • Creating consensus views of proposed focus areas – guide thinking ito spectrum of response, trade-offs.
  • Support the business in defining guiding practices.
  • Create an Evidencing framework and guide development of formal dashboard.
  • Develop operational monitoring and control environment and develop appropriate Board reporting mechanisms.

STYLE

  • Set up a cross functional team and work across Business Units to manage the priorities, responses, decision making & to track progress.
  • Remain objective and serve as an independent sense check ito the appropriateness of responses proposed in the business and the interpretation of the legislative impact in each area.
  • Immerse into the organisation and work as part of the team.
  • Support the policy owner in Board level reporting that reflected progress, risks and proposed focus areas.

PROGRESS

  • The programme drove initial impact assessment, Board support for approach, impact and proposed focus areas and then the first year of execution against these plans. At the end of the two year period the programme was operationalized under a policy owner. CatalytIQ continued for two subsequent years in providing policy owner support ito Board level reporting and independent sense checking of business as usual responses. The methodologies and frameworks put in place as well as the reporting frameworks are still in use today.
BUSINESS TRANSFORMATION – FMCG Sector

BUSINESS TRANSFORMATION – FMCG Sector

THE OPPORTUNITY

In 2014, a leading South African Retailer partnered with CatalytIQ to create a programme that would bring together disparate customer initiatives from across the Group to help focus, direct & optimise technology investment.

Through an initial investigation of the landscape, collaborative framing of the business benefits and objectives and creation of a target business blueprint, CatalytIQ initiated a business transformation structured over 3 implementation phases.

This transformation was centered on growing scale, digitising core processes, putting customer data at the heart of the business in order to deliver world class customer experience.

OUR APPROACH

FOCUS:

  • Working in the capacity of programme management, with direct access to top executives and operational leadership in both business and IT, create clarity of purpose and priority around the customer agenda.
  • Drive creation of the vision & work tirelessly to embed & reinforce the vision with executive leadership
  • Manage key stakeholders across the organisation from the Board level down to ensure buy-in, support and continued traction

TOOLS & TECHNIQUES

  • Build a detailed benefits model around key objectives & linked to strategy – to surface detailed change levers, allow informed decision making and to support rigorous tracking of benefits realisation along the way.
  • Conduct impact and maturity assessments of the current world, and develop the target maturity goals.
  • Embed customer journey mapping as a competence – use this practice to inform blueprinting.
  • Deliver a tangible (visual) framework (blueprint) to support and enable delivery sequencing as well as the investment case.
  • Surface critical set of Key Performance Indicators that allow the business to monitor the impact of deliveries on customer experience.
  • Drive delivery through agile methods and continuous improvement.

STYLE

  •  Set up a cross functional team and work across Business Units to manage the decision making.

  • Immerse into the organisation and work as part of the team.

  • Remain technology supplier agnostic, but clear on the technical building blocks required – support the business through the various vendor & partner selection processes.

  • Deliver a tangible (visual) framework (blueprint) to support and enable delivery sequencing as well as the investment case.

  • Surface critical set of Key Performance Indicators that allow the business to monitor the impact of deliveries on customer experience.

  • Drive delivery through agile methods and continuous improvement.

PROGRESS

  • Work is in progress on the first phase of transformation (laying the foundation). Concurrently the team are supporting the business through finalising scope, executive support and funding for the second phase in the organisation’s transformation journey.
ON CHANGE & ADAPTIVITY

ON CHANGE & ADAPTIVITY

At CatalytIQ we understand business in a changing world. We know the key to success in a changing world lies in our ability to adapt. That little word – “adapt” encapsulates so many challenges that we, and our clients face on a daily basis. So the definition of the word “adapt” seems to suggest a few things
  • “To make suitable for a new purpose” – In much of what we do in the transformation space we focus on understanding what exists, what our clients believe the industry and their clients require for them to stay relevant, what they believe they need to be successful and what the shift from point A to point B means. Sometimes this means introducing fundamentally new capabilities (systems, practices, competencies etc.) – but often it is about taking what exists and working with it to ensure that it supports the new vision. Repurposing, reimagining, retraining and refocusing teams, capabilities and systems.
  • “To become adjusted to a new condition” – so much of the Transformation journey deals with not just the rational, tangible aspects of the changes at hand (the systems, processes, organizational changes, business rules etc.) but the intangibles – the so called “soft” aspects of people building the resilience to deal with ambiguity, the highs and lows of the change process, the reality of unrelenting change and what it takes to survive it. Over the years I have realized that despite my training and background (which favours the concrete and rational) – the magic and secret to success lies in our ability to rally people to a common, clearly articulated and often simple cause. Part of that rallying process relies on our ability to work with leaders within the business to support people through this adjustment process.
No matter what form the change you are facing may take – be it economic, regulatory, consumer, cultural, strategic or organizational – our single minded focus is to help you become more adaptive by supporting you through understanding the nature of the change, the impact on your organization and sticking with you every step of the way through leading the change required to make your vision a reality.

Ilse Baxter

NEW, FRESH WEBSITE

NEW, FRESH WEBSITE

CatalytIQ turned 12 in May 2016. To celebrate this achievement – we worked with partners that have been part of our CatalytIQ family for many years to update our web presence. We are extremely excited to present the new, fresh face of CatalytiQ to you – in the form of our new responsive website.

Whilst we have refined our proposition to match what we believe our clients are reaching for and we have streamlined and updated our site to match the world we work in – we have a few key people to thank for this new face

Firstly – Lourens Lombaard and his team at FDesign (www.fdesign.co,za) You guys have been part of our journey for many years. Your creativity, professionalism and resilience to deal with my creative whims have meant that you are the go-to guys no matter what we dream up as our next creative challenge. Thanks for sticking with us for all of these years!

Secondly – Brent Abrahams from Wempic Photography (www.wempic.co.za) . Brent – we worked together In a previous life – and I am supremely grateful for the fun experience and extremely professional output from our photo shoot. You are a dream to work with!

Lastly – the team at CatalytIQ. Our success – is tied to the people that make up the CatalytIQ team. We are tremendously excited and proud about the phase we are in – and that is down to you. Thank you for the passion, professionalism and enthusiasm you put in day in and day out. We couldn’t do it without you!

Ilse Baxter