Background
Refinitiv provides financial software and risk solutions – delivering data, information and analytics, enabling transactions, and connecting the global community.
Thebes Group had engaged with the Refinitiv and erstwhile Thomson Reuters since 2007 to provision infrastructure changes for its Enterprise Networks business. Started as a small set of Infrastructure Delivery Managers, it swiftly ramped-up, comprising of project managers, programme managers and new capability managers, delivering about 40 small to large changes annually. This engagement was evaluated for its service maturity, capability, cost optimisation and Refinitiv business strategy. Thebes proposed Project Management as a Service built on consolidating existing services with a focus on risk-sharing while taking on more responsibility whereby enabling Refinitiv to deliver more successful outcomes rather than focusing on inputs
Client:
Global Market data Provider
Sector:
Financial Services
Size:
25,000 global employees
Challenges
- Inadequate delivery capacity for infrastructure change requests due to lack of forecasting and visibility
- Lengthy upskilling resulted in huge gap between supply and demand
- Risk of knowledge loss from day-rate resources
- Ad-hoc resource requests and spikes
- No clear driver for innovation
- Lack of delivery KPIs for successful measurement
- Individual resources charged a high daily cost
Quick Wins
Remote operations while managing the IP.
- Transitioning various delivery roles into the managed service and transforming the high cost individual to FTEs for quality and cost optimisation
- Multi-skilled resources portfolio to handle large complex programme delivery
- Transition to offshore location to enhance the service delivery spread covering project, programme and new capability
- Onboarding timeline reduced from 3 months to 6 weeks with aggressive bespoke training created for Refinitiv
- Managing of IP: Business continuity of service across propositions while the service underwent transformation
Key Results
Seamless execution from high cost day-rate to FTEs across portfolio
Demand Supply Mgmt. & Governance with Continuous improvement
Delivered at pace, on time quality, cost and IP
Outcome
Delivery of a new sustainable and scalable framework, enabling the Refinitiv to effectively perform infrastructure changes in the from of Project Management as a Service:
Governance – Optimised cost and delivery KPIs to ensure all Refinitiv deliverables within the expected targets
Cost – The operational cost reduced by half by creatively transitioning and transforming the services portfolio while adhering to underpinning KRAs
Scalability & efficiency – Aggressive onboarding and training programme combined with the cross-training & bench strategy to meet ad-hoc requests with end-to-end delivery capability across portfolio to deliver small changes to extra-large complex programmes
Accountability – Clear visibility on ownership and continuous improvement initiatives of operating principals to ensure adherence to agreed KRAs and overall success of the engagement
