Transforming IT with hybrid managed services for a leading asset management enterprise
Companies in the asset management sector find it difficult to align legacy IT systems with next-generation business issues like accelerating product innovation, driving automation to increase efficiency and reducing overall costs. For a leading asset management enterprise, aligning infrastructure with business objectives required transformation of their IT environment.
Mindtree helped the firm adopt a hybrid managed services model to reduce costs, deliver scalability, provide improved service and higher operational efficiency through continuous improvement.
Financial Services/ Asset Management
The asset management company faced significant IT issues that resulted in operational roadblocks, management issues, increased costs and lack of infrastructure expertise. One of the firm’s biggest challenges was aligning its IT functions with business strategies. Without an IT strategy to support well-defined business goals, the firm procured new technology products and services to solve specific issues. This resulted in an expensive IT environment that was not delivering business value.
In addition to aligning IT with business strategies, the firm also experienced large annual cost increases resulting from inefficient controls and infrastructure design. By not having the right infrastructure to support high volume of transactions, maintain compliance with financial regulations and manage multiple vendors across the globe, the firm continued to pick temporary solutions that added to IT complexity.
Without a dedicated team to manage the firm’s infrastructure, the IT staff needed more resources to manage the increasingly complex environment. The needed support from a managed services partner with a proven record for successful IT transformation to deliver value.
Mindtree, with its deep expertise in infrastructure management services, was chosen by the firm to provide an ITIL-based service management platform and commit to continuous service improvement and reduce costs.
Mindtree collaborated with the client to deliver hybrid-managed services encompassing shared services and a dedicated team of infrastructure experts to manage the system and ensure efficient operations. Mindtree experts built shared services to deliver significant cost reduction and manage unexpected surges in transaction volume. The dedicated team provided niche skills, tailored support, overall ownership and delivery of one-off projects.
Based on the client's business needs, the engagement was run on a combination of outcome-based and fixed pricing, based on well-defined service level agreements.
- 24x7 monitoring and management using Mindtree’s MWatch tool, an integrated IT infrastructure management and secured service delivery platform
- 100% offshore delivery with one program manager onsite to consult with the customer
- Provided inputs, complex monitoring configurations and customized service management workflows to meet customer needs and ensure ITIL best practices
- Management of other IT vendors to simplify management efforts
- Provided value added services, including those related to SOX compliance and audits, back-up resources during employee attrition, critical application performance and several other areas
- Continuous service improvement by delivering a unified platform for service management; MWatch enhancements; cost savings over and above those committed; and efficient vendor management
- Greater focus on business needs with improved risk management
- 44% reduction in device and server management costs
- Simplified management through single point of ownership for all infrastructure vendors
- Proactive resolution of engineering issues with 50% fewer FTEs
- Better service and higher operational efficiency through continuous improvement
“Mindtree is a trusted and valuable service partner. They not only transformed our IT environment to support our business objectives, but their IT expertise and commitment to excellence is demonstrated daily as they continue to improve our operating efficiency.”
CIO, Global asset management enterprise