How a Corporate Trust Provider Created a Holistic Operating Model

The Situation

Five team members collaborate around a table in a meeting room with a wall of windows After acquiring one of its biggest competitors, a Canadian transfer agent and corporate trust provider sought to improve service delivery. The company had the following goals:

Improve customer satisfaction, modernize experiences, and adhere to SLAs.
Unify and optimize internal processes to drive efficiencies.
Streamline and modernize the technology stack.
Design a diligent change management plan to operationalize solutions.

The company turned to Burnie Group for support in developing a new holistic operating model and technology architecture.

The Approach & Solution

During the diagnostic phase, Burnie Group conducted interviews with subject-matter experts across eight business areas, enabling the team to develop twelve interactive process maps and a high-level technology landscape. Burnie Group identified seventy pain points related to customers, technology, and operations. The team also identified thirty potential opportunities for automation and streamlining. Burnie Group concluded the diagnostic phase with a facilitated mirror walk problem-solving session with the executive leadership to gain alignment and prioritize solution areas and recommendations.

The mirror walk enabled the team to prioritize twenty pain points and develop a corresponding tactical plan for each, including objectives, skills, solutions, timelines, and milestones. The team created a high-level strategic Gantt map for all initiatives.

Burnie Group created future state customer journey maps, enabling the company to reduce the customer request handling timeline from thirty days to seven days. The team also designed a future state for the company’s technology architecture that simplified the technology stack by 50%.

The Result

Burnie Group developed five-year strategic and tactical roadmaps aimed at improving customer experience within two years, operational efficiency within three years, and simplifying the future state of technology architecture within five years. The initiatives can free up 20-25% of FTE capacity throughout the organization, the equivalent of $5.2 million in annual savings.

The company’s Board of Directors approved and operationalized the implementation roadmap two months after the final report delivery.

Find out how a new operating model can enable your organization to increase its efficiency.