40+
Resources deployed in <4 months
40%
Reduction in project delivery costs
6
Product lines supported
OWNING CHANGE IN FINANCIAL TECHNOLOGY
Our client is the technology subsidiary of a market-leading financial services institution.
The challenge:On a Shoestring Budget
As part of their efforts to remain sustainable during the post-pandemic economic downturn, our client underwent a significant organisation-wide cost reduction exercise. This resulted in their IT investment shrinking every year, despite an ever-increasing number of projects in implementation phase. Resource limitations and budget constraints were impacting our client’s product development and market competitiveness, derailing their long-term ambition to go public.
Our client was dissatisfied with their existing IT resourcing partner due to their high costs, low personnel quality, and inefficient project delivery. They were prompted to explore alternate resourcing options to urgently ramp up their in-house technical capabilities while driving cost reduction and process efficiencies across the board.
Our proposal:Project Delivery at Scale and Speed
Leveraging our proven track record as a high-quality, cost-effective partner, TEKsystems was engaged by our client to become their exclusive supplier. Upon scoping their project requirements, TEKsystems implemented our bespoke resourcing model to provide flexibility and cost-effectiveness – the two biggest needs of our client. We formulated a comprehensive 2-year plan to phase out their existing team of 100+ IT resources on-site in Shanghai to set up a new team in our Delivery Centre in Chengdu.
We proposed a two-phase transition:
- Phase I: 50 resources across six product lines to be deployed in year one
- Phase II: Additional 50 resources across the remaining product lines to be deployed in year two
To accelerate the integration of different teams and ensure a seamless transition from Shanghai to Chengdu, TEKsystems’ Technical Lead, Delivery Lead, and Account Managers developed an implementation roadmap including resource deployment, knowledge transfer, personnel utilisation, performance management, and financials. This provided our client with a one-stop solution to address all existing challenges, removing their administrative burden and operational hassles.
Real-world Results
Since resourcing officially commenced in November the previous year, TEKsystems completed the deployment of the first 40 resources in our Chengdu Delivery Centre within a 4-month period. The entire 50-member team for Phase I was deployed by the middle of year one.
Our Delivery Centre in Chengdu fulfilled all the infrastructure, security, service continuity, and compliance protocols of both our client and their parent financial institution. We also provided a comfortable working environment for all resources and quickly resolved any challenges, thereby increasing their satisfaction, productivity, and overall performance. This was key to maximising retention.
On top of deploying the new team in Chengdu, we helped our client offboard their existing vendor team in Shanghai. High-performing resources who met our technical standards, and were recommended by our client, were retained and re-deployed in Chengdu.
Under the oversight of our dedicated Delivery Lead and Technical Lead, the TEKsystems team in Chengdu were able to speed up project delivery and collaborate closely with our client’s team in Shanghai, without communication gaps. On top of deploying high-quality technical personnel, we helped our client to fulfil key project milestones on time and reduce costs by 40% YoY due to our delivery capabilities in Chengdu. As a result, they have accelerated their product development lifecycle and bolstered their customer acquisition efforts – integral to their business profitability and long-term sustainability.