Selling benefits following changes.

Breakthrough: Harvesting short-cycle benefits. Various change initiatives have been initiated in different areas of this international bank, requiring implementation across diverse countries. This includes adjustments to the Target Operating Model (TOM) and a program aimed at eliminating process silos to generate maximum value for customers (PRIME). Although information technology is a significant enabler in the financial services sector, non-IT solutions were selected simply because the development time for IT projects is too long. The program is centrally coordinated, but the mandate lies within the business lines in each country. Consequently, the benefits are realized there. A rollout schedule for clusters of countries has been established.

Impact: A tremendous boost in “making strategy happen.” “International benefit tracking.” The incentive for participation is directly proportional to the intended benefits. While benefits in other countries do not guarantee success in one’s own country, measuring those benefits is crucial for the readiness of subsequent countries to embrace change. The measurement incorporates various indicators: direct and indirect effects, both quantitative and qualitative, focused on three aspects: customer satisfaction, cost reduction, and simplification. The program management has created a global transition dashboard that visualizes both the change effort (time and monetary investment) and the indicators for each country. Weekly reviews and attention to the demonstrable relationship between effort and effect have naturally propelled the program forward. Operational results are evident: every six months, this team effortlessly cuts through the challenges of the banking world.