Industries
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ISG's recent study shows the banking industry's top priorities are operational efficiency and customer experience.
Will most people go back to purely in-person banking? No. But the demise of bank branches is greatly exaggerated - a recent Celent report says that 77% of customers want to be face-to-face for substantive discussions about their finances.
Read ISG’s whitepaper to learn how to reimagine your #branchstrategy for the future of banking.
This leading North American investment management firm had a history of perceived underperformance in its back and middle office (overly bureaucratic, low employee satisfaction, expensive to run). ISG was engaged after the investment firm had already had initial conversations with service providers.
The firm's vision and objectives were to transform its services departments to:
The scope of the project was four main functional areas – human resources (HR), finance and accounting (F&A) including procurement, real estate, and facilities and technology.
ISG’s proposition was developed to balance a sophisticated solution design for the in-scope business processes while meeting the need for fast returns.
Our solution therefore involved an initial rapid assessment of the current-state environment in comparison with emerging thinking best practice. This meant bringing tools and accelerators to facilitate the investment firm and supplier co-designing a solution which will evolve over time from a relatively traditional outsourcing model to become a horizontalized suite of aggregated services based on user experience with a contact initiated via a front door and white-glove concierge style service, complemented by automation.
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Learn MoreThe FAO industry is experiencing a significant transformation, marked by an increasing emphasis on specialized capabilities to meet clients’ evolving needs. This reflects an increasing demand for comprehensive solutions that extend beyond traditional outsourcing, encompassing technology, advanced analytics, strategic consulting and industry-specific expertise. In response, FAO providers are developing diverse capabilities to enhance their service offerings. This strategic shift not only streamlines financial processes but also offers tailored solutions to address client’s specific challenges. By integrating specialized expertise and advanced tools, FAO providers are positioning themselves as essential partners in their clients’ journey toward operational excellence and strategic growth. This comprehensive approach ensures that providers can deliver value-added services, helping clients navigate complex financial landscapes and achieve their business objectives.
In today’s rapidly evolving world, where technology is advancing at an unprecedented pace and business models are constantly changing, the finance and accounting (F&A) industry is at the forefront of a transformative movement. This industry plays a crucial role in enhancing the operational efficiency and strategic decision-making capabilities of global businesses, which are currently undergoing significant changes. The driving forces behind this change include the integration of AI and ML and the emerging influence of generative AI (GenAI) technologies. These technologies promise to revolutionize financial operations by providing unparalleled automation, precision and insight.
Every expectation of the contact center got slammed by the pandemic– from staffing, security, infrastructure, training, shoring locations, providers/captives, channels, performance to workforce management. ISG’s Sandra Williams discusses how banking contact centers became prime examples of Darwin’s theory that only the one most responsive to change will survive.
Automation can drive efficiency, resiliency and flexibility across the enterprise. ISG’s Jay Woldar explores how evolving technology from business process automation to robotic process automation to cognitive can transform applications and maximize return on investment.
