Transformed outsourcing governance for one of the largest Wall Street banks - reduced their outsourcing cost by $5M in 6 months.
Client: A global financial services company providing services and expertise in Private Banking & Wealth Management Services and Investment Banking Services.
Situation: The bank had outsourced most of its Application Development Maintenance work to 4 prominent vendors. All engagements are large multi- year contracts and include 1000 contractors on an average.
Problem: The Governance team was facing challenges to measure the effectiveness of the engagement and if enough value was being generated.
Solution: Sapience helped addressed the client's concern and gave them the data they needed to better manage the outsourced engagement and reduced Outsourcing cost by $5 M in 6 months.
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With Sapience we have transformed our outsourcing governance practice by proactively managing the workforce using data/reports that Sapience provides about their work patterns and utilization. We have seen productivity improvements across all implementations and use cases, and continue to find gains with every rollout. We have started to roll out Sapience across more niche areas and are excited by the opportunities and results.
Managing Director - Group CTO Americas | Credit Suisse